Following is the trial balance of Al Gardish LLC, prepare Income statement and Balance sheet for the year ended 31st December 2016: Name of the Account DEBIT( OMR) CREDIT(OMR) Electricity Expenses Capital Salary Expenses Insurance Expenses General expenses Dividend Income Sales Return Purchase Return Goodwill Short term Investments Sales discount Notes Payable Freight in Prepaid Rent Purchases 3600 94900 9000 4000 18000 7900 5000 9300 20000 10000 3000 52700 4300 5200 162000 Sales Interest Building Opening Inventory Notes Receivable Bank Loan Cash 234000 3400 90900 46600 13400 48800 10000 Equipment 46000 TOTAL 451000 451000

Following is the trial balance of Al Gardish LLC, prepare Income statement and Balance sheet for the year ended 31st December 2016: Name of the Account DEBIT( OMR) CREDIT(OMR) Electricity Expenses Capital Salary Expenses Insurance Expenses General expenses Dividend Income Sales Return Purchase Return Goodwill Short term Investments Sales discount Notes Payable Freight in Prepaid Rent Purchases 3600 94900 9000 4000 18000 7900 5000 9300 20000 10000 3000 52700 4300 5200 162000 Sales Interest Building Opening Inventory Notes Receivable Bank Loan Cash 234000 3400 90900 46600 13400 48800 10000 Equipment 46000 TOTAL 451000 451000

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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