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.

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

Problem 1Q

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

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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Accounting for Cash and cash equivalents

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