(A) Accounting is considered a social science and as a result of the development and technological advancement and economic growth that led to the emergence of fields (branches) specialized in accounting, mention 4 types of accounting branches with an explanation for each branch and the difference between the four branches that you mentioned.

(B) The following is the trial balance of the Nakheel Trading Corporation, with balances on 12/31/2021

Debit balances, credit balances, account name

7750 cash in hand

1800 receivables

1,000 supplies and equipment

950 furniture

4000 cars

2025 accounts payable

225 bank loan

Capital 11400 1/1/2021 (beginning of the period)

500 personal withdrawals

4,800 sales

1000 cost of goods sold

950 salary expense

1000 rental expense

500 profits from selling a car

18950 18950 total

Required:

1- Preparing the income statement for the financial period ending 12/31/2021.

2- Preparing the list of changes in property rights for the financial period ending on 12/31/2021.