The following are the transactions of CARI, INC during 2022: The company follows a periodic inventory system 04.01.2022 Purchases merchandise, in cash SR 100,000.00 01.03.2022 Sales merchandise, on credit SR 180,000.00 06.03.2022 Customer takes discount and pays SR 162,000.00 15.10.2022 Pays downtow's shop rent SR 4,000.00 30.12.2022 Purchases a machinery, in cash SR 35,000.00 31.12.2022 Closes beginning inventory SR 30,000.00 31.12.2022 Records the ending inventory SR 12,000.00 31.12.2022 Revenues & expenses balanced off TBD Record the transactions, prepare the trial balance and show the following financial statements: → Balance sheet (Statement of Financial Position) as of 31.12.2022 → Profit & Loss account (Income Statement) for 2022
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The following are the transactions of CARI, INC during 2022: |
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The company follows a periodic inventory system |
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04.01.2022 |
Purchases merchandise, in cash |
SR 100,000.00 |
|
01.03.2022 |
Sales merchandise, on credit |
SR 180,000.00 |
|
06.03.2022 |
Customer takes discount and pays |
SR 162,000.00 |
|
15.10.2022 |
Pays downtow's shop rent |
SR 4,000.00 |
|
30.12.2022 |
Purchases a machinery, in cash |
SR 35,000.00 |
|
31.12.2022 |
Closes beginning inventory |
SR 30,000.00 |
|
31.12.2022 |
Records the ending inventory |
SR 12,000.00 |
|
31.12.2022 |
Revenues & expenses balanced off |
TBD |
Record the transactions, prepare the
→ Balance sheet (Statement of Financial Position) as of 31.12.2022
→ Profit & Loss account (Income Statement) for 2022
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