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XYZ Company has a beginning balance of cash on January 1, 2020 of OMR 30,000. On January 10, Bank Muscat approved a loan
Posted: Tue Nov 16, 2021 8:55 am
by answerhappygod
- Xyz Company Has A Beginning Balance Of Cash On January 1 2020 Of Omr 30 000 On January 10 Bank Muscat Approved A Loan 1 (45.57 KiB) Viewed 108 times
- Xyz Company Has A Beginning Balance Of Cash On January 1 2020 Of Omr 30 000 On January 10 Bank Muscat Approved A Loan 2 (45.57 KiB) Viewed 108 times
XYZ
Company has a beginning balance of cash on January 1, 2020 of OMR 30,000. On January 10, Bank Muscat approved a loan to XYZ and the loan proceeds amounts to OMR 10,000. Total sales for January amounted to OMR 10,000 of which half is on credit, and total purchases amounted to OMR 3,000, XYZ paid 20% and the balance on account. How much is the ending balance of cash as of January 31, 2020? a. None of these O b. 38,400 OMR O c. 53,600 OMR O d. 44,400 OMR
Question 14