Q1-The following balances appeared in the trail balance for the year 2014 of Al-Nada Co. Account Balance Account Balance Sales 830000 Repairs 7000 Purchases commission 18000 Interest received 25000 Purchases 480000 Revenue 70000 Purchases return 90000 Sales allowance 20000 Creditors 2000000 Loan 3000000 Freight-out 16500 Import customs 22000 Purchases allowance 25000 Beginning inventory 90000 Purchases discount 10000 Sales discount 8000 Building 5000000 Sales insurance 20000 Cars 18000000 Purchases insurance 10000 Sales commission 21000 Salaries 120000 Lighting 14000 Rent 80000 Purchases expenses 26000 Sales return 12000 Depreciation 18000 Bank 10000000 Cash 1200000 Debtors 2000000 Ending inventory 65000 Ins :- Prepare income statement with multiple - step form for the year ended in 31/12/2014

Q1-The following balances appeared in the trail balance for the year 2014 of Al-Nada Co. Account Balance Account Balance Sales 830000 Repairs 7000 Purchases commission 18000 Interest received 25000 Purchases 480000 Revenue 70000 Purchases return 90000 Sales allowance 20000 Creditors 2000000 Loan 3000000 Freight-out 16500 Import customs 22000 Purchases allowance 25000 Beginning inventory 90000 Purchases discount 10000 Sales discount 8000 Building 5000000 Sales insurance 20000 Cars 18000000 Purchases insurance 10000 Sales commission 21000 Salaries 120000 Lighting 14000 Rent 80000 Purchases expenses 26000 Sales return 12000 Depreciation 18000 Bank 10000000 Cash 1200000 Debtors 2000000 Ending inventory 65000 Ins :- Prepare income statement with multiple - step form for the year ended in 31/12/2014

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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The following balances appeared in the trail balance for the year 2020 of AL-Nada co? Accounts Sales Purchases commission Purchases Purchases return Creditors Freight out Purchases allowance Accounts Repair Interest received Revenue Sales allowance Balance 830 000 18 000 Balance 7 000 25 000 70 000 480 000 90 000 20 000 2 000 000 Loan 3 000 000 Import customs Beginning inventory Sales discount Sales insurance Purchases insurance Salaries 165 00 22 000 25 000 90 000 8 000 Purchases discount Building Cars Sales commission lighting Purchases expenses Depreciation cash Ending inventory 10 000 5 000 000 18 000 000 20 000 10 000 21 000 120 000 14 000 Rent 80 000 Sales return Bank Debtors Capital 26 000 12 000 18 000 1 200 000 10 000 000 2 000 000 65 000 Ins: 1_Prepare the trading statement for the year ended in 2020. 2_Prepare the profit and loss statement for the year ended 2020. 3_Prepar a classified balance sheet in a good format (use statement form)