1-TB fr preparing/producing financial statements of Sole trading firm: M&M Sole Trading Firm Trial balance for the year ending 31 Dec 2021 Dr OMR Cr OMR 6430 2150 660 5100 900 400 304 Sales Revenue Purchases Opening inventory Building (cost) Plant and Machinery (cost) Trade receivables Trade payables Printing expense Stationery expense Salaries and wages Insurance expense Accumulated depreciation on Building Accumulated depreciation on Plant and Machinery Provision for bad and doubtful debts Capital Drawings Cash Bank Loan 250 206 1600 358 300 500 110 4530 600 250 300 ce: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 5 Total 12474 12474 Adjustments: 1. Inventory as at 31-12-2021 is valued at OMR 450 2. Depreciation to be provided as follows: a. Building: 2% straight line method b. Plant and Machinery: 1% reducing balance method 3. Wages and salaries outstanding (O/S) as at 31-12-2021 were OMR 340 4. Insurance expense prepaid as at 31-12-2021 was OMR 50 5. The allowance for receivables is to be adjusted so that it is 6% on trade receivables. PREPARE TRADING, CASH FLOW, INCOME STATEMENT AND BALANCE SHEET 1-TB fr preparing/producing financial statements of Sole trading firm: M&M Sole Trading Firm Trial balance for the year ending 31 Dec 2021 Dr OMR Cr OMR 6430 2150 660 5100 900 400 304 Sales Revenue Purchases Opening inventory Building (cost) Plant and Machinery (cost) Trade receivables Trade payables Printing expense Stationery expense Salaries and wages Insurance expense Accumulated depreciation on Building Accumulated depreciation on Plant and Machinery Provision for bad and doubtful debts Capital Drawings Cash Bank Loan 250 206 1600 358 300 500 110 4530 600 250 300 ce: Customised by CBFS@PSD@HND based on Pearson BTEC format: Annexure 5 Total 12474 12474 Adjustments: 1. Inventory as at 31-12-2021 is valued at OMR 450 2. Depreciation to be provided as follows: a. Building: 2% straight line method b. Plant and Machinery: 1% reducing balance method 3. Wages and salaries outstanding (O/S) as at 31-12-2021 were OMR 340 4. Insurance expense prepaid as at 31-12-2021 was OMR 50 5. The allowance for receivables is to be adjusted so that it is 6% on trade receivables. PREPARE TRADING, CASH FLOW, INCOME STATEMENT AND BALANCE SHEET