100 l 62 2_524467555402776...Q1_The following balances appeared in the trail balance for the year 2020 of AL-Nada co?AccountsSalesPurchases commissionPurchasesBalance830 00018 000|480 00090 0002 000 000165 00AccountsBalance7 000RepairInterest received25 000Revenue70 000Purchases returnSales allowance20 000CreditorsFreight outLoan3 000 000Import customs22 000Purchases allowance25 000Beginning inventory90 000Purchases discountBuilding10 0005 000 000Sales discount8 000Sales insurance20 000Cars18 000 000Purchases insurance10 000Sales commission|21 000Salaries120 000ightingPurchases expensesDepreciationcash14 000Rent80 000|26 00018 000Sales return12 000Bank10 000 0001 200 000Debtors2 000 000Ending inventory65 000CapitalIns: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)

The following computations are done for Al-Nada Company.

The following balances appeared in the trail balance for the year 2020 of AL-Nada co? Accounts Balance Accounts Balance Sales Purchases commission Purchases 7 000 25 000 70 000 830 000 Repair 18 000 480 000 Interest received Revenue Purchases return 90 000 Sales allowance 20 000 2 000 000 165 00 25 000 Creditors Loan 3 000 000 Freight out Import customs 22 000 Purchases allowance Beginning inventory Sales discount Sales insurance 90 000 10 000 5 000 000 Purchases discount 8 000 Building Cars 20 000 18 000 000 Purchases insurance 10 000 Sales commission ighting Purchases expenses Depreciation 21 000 14 000 26 000 Salaries Rent Sales return 120 000 80 000 12 000 18 000 1 200 000 65 000 Bank 10 000 000 Debtors Capital cash 2 000 000 Ending inventory 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)

The following balances appeared in the trail balance for the year 2020 of AL-Nada co? Accounts Balance Accounts Balance Sales Purchases commission Purchases 7 000 25 000 70 000 830 000 Repair 18 000 480 000 Interest received Revenue Purchases return 90 000 Sales allowance 20 000 2 000 000 165 00 25 000 Creditors Loan 3 000 000 Freight out Import customs 22 000 Purchases allowance Beginning inventory Sales discount Sales insurance 90 000 10 000 5 000 000 Purchases discount 8 000 Building Cars 20 000 18 000 000 Purchases insurance 10 000 Sales commission ighting Purchases expenses Depreciation 21 000 14 000 26 000 Salaries Rent Sales return 120 000 80 000 12 000 18 000 1 200 000 65 000 Bank 10 000 000 Debtors Capital cash 2 000 000 Ending inventory 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)

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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