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. LiabilitiesOMRAssetsOMREquity share capital27,800Furniture4,000Accounts Payable1,550Cash in hand4,500Reserves and surplus2,550Bills receivables3,750Bills payable950Land9,000Long term borrowings6,520Marketable securities850Outstanding Salaries850Cash in bank5,250Loan from Bank3,450Building6,600Preference share capital5,265Prepaid expenses850Bank overdraft825Cars & Trucks3,350Tax outstanding590Account Receivables1,150Inventory2,150Income earned but not430receivedMachinery6,250Equipment2,220Total50,350Total50,350 Other informationParticularsOMRSales330,000Cost of goods sold155,000Administration expenses33,000|Selling & Distribution exp.44,000Interest received12,200Rent Received2,000Commission received1,750

The financial position of the company can be analyzed with the help of financial ratios. Some of the…

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.

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

Section: Chapter Questions

Problem 1Q

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Question

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

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