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Question 1 (8 Marks) ABC Co. had two branches (Amman & Aqaba branches) last year. However, the Armenbuch had the following account balances: Sales revenue
Question 1 (8 Marks) ABC Co. had two branches (Amman & Aqaba branches) last year. However, the Armenbuch had the following account balances: Sales revenue - Amman Sales revenue - Aqaba JOD 380,000 35,000 Cost of goods sold - Amman 120,000 Cost of goods sold - Aqaba 12,500 Salaries and wages expense - Amman 15,000 Salaries and wages expense-Aqaba 12.000 Depreciation expense - Amman 34,000 Depreciation expense - Aqaba 5,000 Dividend revenue 16,000 Interest revenue Utilities expense 12,000 30.000 Rent revenue 18.000 Interest expense Sales returns - Amman 3,500 Sales returns - Aqaba 19,500 Advertising expense 2,500 16,500 Taking into consideration that the income tax rate is 30%, prepare the income statement
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