QI: Date Particulars Debit Credit 65000 25000 90000 15000 8000 7000 10.5.2020 Cash A/c Dr. Machinery Alc Dr. Capital A/C 17.5.2020 Purchases Alc Dr. Cash Ale Payables Alc 22.5.2020 Receivables Alc Dr. Cash Alc Dr. Sales Alc 28.5.2020 Interest Expenses A/c Dr. Cash A/C 29.5.2020 Cash Ale Dr. Receivables A/c Cr 30.5.2020 Payables Ale Dr. Cash Ale 18000 12000 30000 4000 4000 14000 14000 4500 4500 Required: (A) Post the Journal Entries into the Ledger Account (B) Prepare a Trial Balance Q2. Calculate Net Sales, Cost of the goods Sold, Gross Profit and Net Profit from the following information Gross sales RO 53400 Purchase Discount RO 1675 Bank charges RO1654 Closing stock RO 11870 Cash RO 3200 Other Income RO 765 Owners Equity RO 76000 Building RO 32000 Depreciation RO 1230 Salaries RO 3450 Electricity RO 780 Sales Discount RO 6230 Freight in RO 1450 Sales returns is RO 4350 Opening stock is RO 7680 Purchases RO 16550 Machinery RO 21000 Purchase return RO 1240 Q3: Following is the trial balance of Dhofar Company for the year ended 31 December 2020: Account Common Stock Debit Credit 48000 17000 20000 Accounts Receivable Accounts Payable Notes Payable Notes Receivable Bank 4000 22000 1000 24000 Salary expenses Rent expenses 9000 Insurance expenses 6000 14000 Other Income Machinery Buildings 52000 63000 Loan 38000 194000 Sales Purchases Sales Return 4400 5000 Purchase Return 24000 Opening Stock 69000 Total 342000 342000 Other information is given: 1. Closing stock is 12000 OMR. 2. Depreciation charges for Building is 10% and Machinery is 20% 3. Required: Income statement as on 31.12.2020 Balance sheet as on 31.12.2020