Q3: Following is the trial balance of Dhofar Company for the year ended 31t December 2020: Account Debit Credit Owners Equity 48000 Accounts Receivable 17000 Accounts Payable 20000 Notes Payable 4000 Notes Receivable 22000 Bank 38000 4000 Salary expenses 24000 Rent 9000 3000 Insurance expenses 6000 Other Income 14000 Machinery 52000 Buildings 63000 Loan 38000 Sales 194000 Purchases 44000 Sales Return 5000 Purchase Return 24000 Opening Stock 69000 Total 349000 349000 Other information is given: 1. Closing stock is 12000 OMR. 2. Depreciation charges for Building is 10% and Machinery is 20% 3. Required: Income statement as on 31.12.2020 Balance sheet as on 31.12.2020

Q3: Following is the trial balance of Dhofar Company for the year ended 31t December 2020: Account Debit Credit Owners Equity 48000 Accounts Receivable 17000 Accounts Payable 20000 Notes Payable 4000 Notes Receivable 22000 Bank 38000 4000 Salary expenses 24000 Rent 9000 3000 Insurance expenses 6000 Other Income 14000 Machinery 52000 Buildings 63000 Loan 38000 Sales 194000 Purchases 44000 Sales Return 5000 Purchase Return 24000 Opening Stock 69000 Total 349000 349000 Other information is given: 1. Closing stock is 12000 OMR. 2. Depreciation charges for Building is 10% and Machinery is 20% 3. Required: Income statement as on 31.12.2020 Balance sheet as on 31.12.2020

Name: Q3: Following is the trial balance of Dhofar Company for the year end
Uploaded: 2024-03-05T11:47:04.000Z
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Description: Q3: Following is the trial balance of Dhofar Company for the year ended 31st December2020:АсcountDebitCreditOwners Equity48000Accounts Receivable17000Accounts Payable20000Notes Payable4000Notes Receivable22000Bank380004000Salary expenses24000Rent900

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter8: Liabilities And Stockholders' Equity

Section: Chapter Questions

Problem 8.1.2MBA

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