Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. mr. zuhair started car cleaning services in ruwi w

Mr. Zuhair Started Car cleaning services in Ruwi with a capital of OMR 50,000 and...

60.1K

Verified Solution

Question

Accounting

Mr. Zuhair Started Car cleaning services in Ruwi with a capital of OMR 50,000 and earns a profit of OMR 2,500 at the end of the year. He spends OMR 250 to purchase clothes, OMR 350 to purchase mobile phone for his personal use can Mr. Zuhair records his personal expenses in his Car cleaning service accounting books? Explain the reason by justifying the result which relates to GAAP.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

A tax auditor is selecting a sample of 5 tax returns for an audit. If 2...

Biology
1.2K views

at is biomagnification

Biology
1.2K views

Discuss whether this evolutionary tree used the method of cladistics or phenetics to achieve the...

Physics
1.2K views

9 UN PL Two charges q and q are plac apart as shown in the...

Calculus
1.2K views

1 pt Given the logistic function f t 3 function is maximum Leave your answer...

Accounting
1.2K views

the purchase of some additional equipment, costing $20,000. This equipment should be worth...

Accounting
1.2K views

help me solve this please Even Numbered Breakout Rooms A. Tread-On's 7-year bonds...

Accounting
1.2K views

Problem 11-42 (LO 11-3, LO 11-4) (Algo) [The following information applies to the questions displayed...

Accounting
1.2K views

Question 4 At October 2018 Cha Ltd had an investment in a subsidiary. Hei Ltd,...

Accounting
1.2K views

Please include the formulas and steps used, Thanks! Mighty Safe Fire Alarm is currently...

Accounting
1.2K views

If a unit of inventory has declined in value below original cost, but the market...

Accounting
1.2K views

QUESTION 10 Which of the following statements regarding the allowance method of accounting for uncollectible...