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Q1) Following is the Trial Balance of Osamah Trading Company as on 31-12-2021. You are required to prepare Income Statement and Balance Sheet. End period

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

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