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From the following information you are required to determine the value of equipment imported by ABC Company from USA which will be used in the production. i) Catalogue Price of Equipment: OMR 100,000 ii) Trade discount 10% of catalogue price iii) Non-refundable purchase tax 4% of purchase price after deducting trade discount iv) Import duty OMR 2,500   a. OMR 104,000 b. OMR 105,250 c. None of the options d. OMR 96,100

From the following information you are required to determine the value of equipment imported by ABC Company from USA which will be used in the production. i) Catalogue Price of Equipment: OMR 100,000 ii) Trade discount 10% of catalogue price iii) Non-refundable purchase tax 4% of purchase price after deducting trade discount iv) Import duty OMR 2,500   a. OMR 104,000 b. OMR 105,250 c. None of the options d. OMR 96,100

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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From the following information you are required to determine the value of equipment imported by ABC Company from USA which will be used in the production.

i) Catalogue Price of Equipment: OMR 100,000

ii) Trade discount 10% of catalogue price

iii) Non-refundable purchase tax 4% of purchase price after deducting trade discount

iv) Import duty OMR 2,500

 

a.
OMR 104,000

b.
OMR 105,250

c.
None of the options

d.
OMR 96,100

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