Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in USA. The company furnishes the following accounts data for the year ended, December 31, 2021. Details Debit (OMR) Credit (OMR) Machinery 250,000 Premises 800,000 Sales 950,000 Sales discounts 50,000 Sales returns and allowances 10,000 Cost of goods sold 315,000 Interest revenue 2,500 Advertising expenses 60,000 Sales salary expenses 31,000 Purchase returns 10,000 Depreciation expenses: Office equipment 27,000 Office supplies expenses 15,000 Insurance expenses 10,000 Bank 100,000 Interest expenses 3,300 Freight outwards 9,000 Rent (50% for administrative expenses) 14,000 Utilities (70% for selling expenses) 4,400 Gain on sale of property 28,800 Loss on lawsuit 2,100 Depreciation expenses: Delivery Truck 2,900 Loss on sale of property 2,100 Electricity Expenses: (80% for selling expenses) 10,600 You are required to: (a) Draw up a Multiple Step Income Statement for the year ended 31 December 2021 (b) Draw up a Single Step Income Statement for the year ended 31 December 2021 (c) Draw up a Statement of Fiancial Position(extracts) for the year ended 31 December 2021 (d) Write a Report on the Financial Performance of the business based on the financial statements prepared.
Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in USA.
The company furnishes the following accounts data for the year ended, December 31, 2021. Details Debit (OMR) Credit (OMR) Machinery 250,000 Premises 800,000 Sales 950,000 Sales discounts 50,000 Sales returns and allowances 10,000 Cost of goods sold 315,000 Interest revenue 2,500 Advertising expenses 60,000 Sales salary expenses 31,000 Purchase returns 10,000
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