Al Ismail Fashions (AIF) is a garment company. The following are the financial details of the AIF. The following are the financial details of the AIF. Q: Give a brief report on the financial position of the company based on the above figures.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Al Ismail Fashions (AIF) is a garment company. The following are the financial details of the AIF. The following are the financial details of the AIF. Q: Give a brief report on the financial position of the company based on the above figures.
Liabilities
OMR
Assets
OMR
Equity share capital
27,800Furniture
4,000
Accounts Payable
1,550Cash in hand
4,500
Reserves and surplus
2,550Bills receivables
3,750
Bills payable
950Land
9,000
Long term borrowings
6,520Marketable securities
850
Outstanding Salaries
850Cash in bank
5,250
Loan from Bank
3,450Building
6,600
Preference share capital
5,265Prepaid expenses
850
Bank overdraft
825Cars & Trucks
3,350
Tax outstanding
590Account Receivables
1,150
Inventory
2,150
Income earned but not
430
received
Machinery
6,250
Equipment
2,220
Total
50,350Total
50,350
Transcribed Image Text:Liabilities OMR Assets OMR Equity share capital 27,800Furniture 4,000 Accounts Payable 1,550Cash in hand 4,500 Reserves and surplus 2,550Bills receivables 3,750 Bills payable 950Land 9,000 Long term borrowings 6,520Marketable securities 850 Outstanding Salaries 850Cash in bank 5,250 Loan from Bank 3,450Building 6,600 Preference share capital 5,265Prepaid expenses 850 Bank overdraft 825Cars & Trucks 3,350 Tax outstanding 590Account Receivables 1,150 Inventory 2,150 Income earned but not 430 received Machinery 6,250 Equipment 2,220 Total 50,350Total 50,350
Other information
Particulars
OMR
Sales
330,000
Cost of goods sold
155,000
Administration expenses
33,000|
Selling & Distribution exp.
44,000
Interest received
12,200
Rent Received
2,000
Commission received
1,750
Transcribed Image Text:Other information Particulars OMR Sales 330,000 Cost of goods sold 155,000 Administration expenses 33,000| Selling & Distribution exp. 44,000 Interest received 12,200 Rent Received 2,000 Commission received 1,750
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