ated below is information for Ramadan Sweets for the year ended 31 March 2022. articular Cost of goods sold AED Particular AED 316,000 Rent Expenses 42,400 Sales Discount 3,200 Sales Return and allowances 4,750 Sales Revenue 680,000 Other comprehensive income 12,450 Loss on disposal of plant assets 4,650 Bank loans 32,000 Salaries and wages expense 1,230 Freights-out 2,600 Insurance expense 766,800 Owner's Capital 12,650 Interest expense 3,450 Interest revenue 250,000 REQUIRED: a. Prepare an income statement. b. Prepare a comprehensive income statement.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Ated below is information for Ramadan Sweets for the year ended 31 March 2022.
articular
AED
Particular
AED
Cost of goods sold
Salaries and wages expense
316,000 Rent Expenses
42,400 Sales Discount
3,200 Sales Return and allowances
4,750 Sales Revenue
680,000 Other comprehensive income
12,450 Loss on disposal of plant assets
4,650 Bank loans
32,000
1,230
Freights-out
Insurance expense
2,600
766,800
Owner's Capital
12,650
Interest expense
3,450
Interest revenue
250,000
REQUIRED:
a. Prepare an income statement.
b. Prepare a comprehensive income statement.
Transcribed Image Text:Ated below is information for Ramadan Sweets for the year ended 31 March 2022. articular AED Particular AED Cost of goods sold Salaries and wages expense 316,000 Rent Expenses 42,400 Sales Discount 3,200 Sales Return and allowances 4,750 Sales Revenue 680,000 Other comprehensive income 12,450 Loss on disposal of plant assets 4,650 Bank loans 32,000 1,230 Freights-out Insurance expense 2,600 766,800 Owner's Capital 12,650 Interest expense 3,450 Interest revenue 250,000 REQUIRED: a. Prepare an income statement. b. Prepare a comprehensive income statement.
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