Question
1. XYZ Company had the following balances for the year ended 31 December, 2021. Particulars Amount ($) Sales 880,000 Purchases 370,000 Sales returns 90,000 Opening
1. XYZ Company had the following balances for the year ended 31 December, 2021.
| Particulars | Amount ($) |
| Sales | 880,000 |
| Purchases | 370,000 |
| Sales returns | 90,000 |
| Opening Stock | 310,000 |
| Salaries and wages | 78,000 |
| Carriage inwards | 70,000 |
| Maintenance | 52,000 |
| Commission received | 85,000 |
| Closing Stock | 440,000 |
| Purchase Returns | 70,000 |
| Direct expenses | 130,000 |
| Carriage outwards | 48,000 |
Required: Prepare Income Statement from the above information
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HRD Score Card 2500 Based On HRD Audit
Authors: T V Rao
1st Edition
8178298368, 978-8178298368
