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From the following Trial balance, you are required to prepare an Income Statement and answer the following questions. Account Title Credit Debit (OMR) (OMR) Service
From the following Trial balance, you are required to prepare an Income Statement and answer the following questions. Account Title Credit Debit (OMR) (OMR) Service revenue 8,000 interest revenue 1,000 Capital 50,000 Wages 800 Salaries 400 Rent 500 office expenses 300 Drawings 800 Commission received 600 1. What is the amount of total revenue? (1 Mark) 2. What is the amount of total expenses? (1 Mark) 3. What is the amount of net profit or net loss? (1 Mark)
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