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Please I need the solution quickly, I have no time just 25 minutes. The following trial balance was extracted from the books of Mr. Mohammed
Please I need the solution quickly, I have no time just 25 minutes.
The following trial balance was extracted from the books of Mr. Mohammed Al Saadi as at 31" Dec 2019. ACCOUNT CREDIT $ DEBIT $ 150,000 130,000 300,000 2,000 50,000 8,000 17,000 21,000 Stock at 1.01.2019 Purchases Sales Camage inwards Salaries Printing and Stationery Drawings Sundry Creditors Sundry Debtors Furniture Capital Postage and Telephone Interest paid Machinery Loan Account Commission Received Computer Total 180,000 10,000 250,000 7,500 41,500 25,000 5,000 5,000 610,000 610.000 You are given the following additional information: Stock valued at 31 Dec 2019 $120,000 (11) Outstanding Salaries $4.000 (111) Machinery is to be depreciated at 12% per annum (iv) Prepaid printing charges $2.000. Prepare the Income Statement for the year ended 31Dec, 2019 Step by Step Solution
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