Oman Drydock Company purchased a site near Barka for OMR 25000. In addition to the purchase price the company agreed to pay OMR 3000 of unpaid tax ( outstanding ) on the property . There was an old construction on the site on which company spent OMR5000 for its removal and the company received the additional income of OMR 1500 from sale of scrap of the old construction. The company also paid OMR 500 agent's commission and OMR 1500 legal and registration charges . Find out the cost of the asset a OMR 28000 b. OMR 25000 C. OMR 33500 d . OMR 35000

Oman Drydock Company purchased a site near Barka for OMR 25000. In addition to the purchase price the company agreed to pay OMR 3000 of unpaid tax ( outstanding ) on the property . There was an old construction on the site on which company spent OMR5000 for its removal and the company received the additional income of OMR 1500 from sale of scrap of the old construction. The company also paid OMR 500 agent's commission and OMR 1500 legal and registration charges . Find out the cost of the asset a OMR 28000 b. OMR 25000 C. OMR 33500 d . OMR 35000

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter6: Corporations: Redemptions And Liquidations

Section: Chapter Questions

Problem 56P

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