Q1) Following is the Trial Balance of Osamah Trading Company as on 31-12-2021.

Name of Account	SR		Name of Account	SR
Purchases Opening inventory Salaries expenses Buildings Cash Wages Telephone changes Accounts receivable Sale returns Rent expenses Prepaid insurance Total	28,000 2,000 950 19,500 1,200 300 750 1,000 610 6,500 9,300 70,110		Sales Account payable Purchase returns Capital Total	43,390 5,310 300 21,110 70,110

requirements:-

You are required to prepare Income Statement and Balance Sheet. End period adjustments are as follow:

The merchandise inventory as on 31-12-2021 was valued at SR 2,310

Depreciation 5% to be provided on Building.

Unexpired insurance SR 1300.

Other cost on purchases SR 500.

Wages paid in advance SR 15.