Extract of Balance sheet items as at 31 December 2019OREquipment20000Account receivables 3500 Retained earnings11500 Inventories5000Loan3000Bank overdraft1500Cash and bank500Mortgage loan7500 Furniture1650Trade payables6000Accumulated Depreciation (Equipment)1000Short term Investments200Goodwill4500 Drawings1000Capital7150Prepaid Expenses1300 Calculate Total Net Assets(Total Assets)? Select one:a. 35350 OMRb. 34350 OMRc.35650 OMRd. 30350 OMR

Total assets of a firm include all the resources which are used in generating the wealth for the…

Answered: Extract of Balance sheet items as at…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

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Extract of Balance sheet items as at 31 December 2019	OR
Equipment	20000
Account receivables	3500
Retained earnings	11500
Inventories	5000
Loan	3000
Bank overdraft	1500
Cash and bank	500
Mortgage loan	7500
Furniture	1650
Trade payables	6000
Accumulated Depreciation (Equipment)	1000
Short term Investments	200
Goodwill	4500
Drawings	1000
Capital	7150
Prepaid Expenses	1300

Calculate Total Net Assets(Total Assets)?

Select one:

a. 35350 OMR

b. 34350 OMR

c.
35650 OMR

d. 30350 OMR

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