Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000. During the year, the business recorded OMR 430,000 in revenues, OMR 265,000 in expenses, and dividends of OMR 60,000. The net income reported by Al Rahami Shop for the year was: a)OMR 150,000. b)OMR 120,000. c)OMR 165,000. d)OMR 195,000.
Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000. During the year, the business recorded OMR 430,000 in revenues, OMR 265,000 in expenses, and dividends of OMR 60,000. The net income reported by Al Rahami Shop for the year was: a)OMR 150,000. b)OMR 120,000. c)OMR 165,000. d)OMR 195,000.
Chapter2: Analysis Of Financial Statements
Section: Chapter Questions
Problem 16PROB
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