Intermediate Accounting 1 Assignment
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Questions and Answers

What is the total value of accounts receivables in XYZ company as of 31-12-2022?

  • OMR 55,000
  • OMR 60,000 (correct)
  • OMR 58,000
  • OMR 65,000

    • What is the percentage of accounts receivables that XYZ company estimates will be uncollectible?

  • 15%
  • 20%
  • 5%
  • 10% (correct)

    • What is the amount written off by XYZ company on 1st March 2023?

  • RO 4,000
  • RO 3,000 (correct)
  • RO 5,000
  • RO 2,000

    • What is the amount paid by Mr. Amer on 1st July 2023?

    <p>RO 2,000</p> Signup and view all the answers

    What is the last date to submit the assignment?

    <p>22nd May 2024</p> Signup and view all the answers

    What is the impact of including purchased goods of RO 2,000 in transit on the reported cost of inventory?

    <p>Increase in reported cost of inventory</p> Signup and view all the answers

    What is the effect of not including sold inventory with a cost of RO 2,200 in transit on the reported cost of inventory?

    <p>Decrease in reported cost of inventory</p> Signup and view all the answers

    What is the value of the goods in transit sold to a customer that Al Salalah included in the count?

    <p>RO 1,000</p> Signup and view all the answers

    What is the total number of units issued to the factory between April 10 and April 25?

    <p>130 units</p> Signup and view all the answers

    What is the cost of the last purchase of inventory on April 30?

    <p>RO 1,700</p> Signup and view all the answers

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