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CASE STUDY 1 Prepare the statements of Financial Performance & Position. Adjustments: - Closing stock OMR 70,000 - Charge depreciation at 10% on furniture on
CASE STUDY 1
| Prepare the statements of Financial Performance & Position.
| ||||||||||
| Particulars | OMR (Debit) | OMR (Credit) | ||||||||
| Capital | 150,000 | |||||||||
| Discount received | 2,980 | |||||||||
| Loans | 13,360 | |||||||||
| Purchases returns | 1,450 | |||||||||
| Sales | 281,500 | |||||||||
| Reserve for Bad debts | 4,650 | |||||||||
| Creditors | 18,670 | |||||||||
| Drawings | 6,300.00 | |||||||||
| Cash at Bank | 13,870.00 | |||||||||
| Bills Receivable | 1,860.00 | |||||||||
| Building | 42,580.00 | |||||||||
| Furniture | 5,130.00 | |||||||||
| Discount allowed | 3,960.00 | |||||||||
| Bank charges | 100.00 | |||||||||
| Salaries | 6,240.00 | |||||||||
| Purchases | 199,080.00 | |||||||||
| Opening stock | 60,220.00 | |||||||||
| Sales return | 1,870.00 | |||||||||
| Carriage | 5,170.00 | |||||||||
| Rent and taxes | 7,680.00 | |||||||||
| General expenses | 3,630.00 | |||||||||
| Plant & Machinery | 31,640.00 | |||||||||
| Book debts | 82,740.00 | |||||||||
| Insurance | 2,180.00 | |||||||||
| Provision for depreciation on Plant | 1,640 | |||||||||
| Total | 474,250 | 474,250 |
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Kamishibai Boards A Lean Visual Management System That Supports Layered Audits
Authors: Joseph Niederstadt
1st Edition
1482205297, 978-1482205299
