Question
The following adjusted Trial Balance is available for the period 31stDecember 2021. Prepare Income Statement and Statement of changes in owners equity and Balance Sheet
The following adjusted Trial Balance is available for the period 31stDecember 2021. Prepare Income Statement and Statement of changes in owners equity and Balance Sheet for the year ending 31st December from the following information
| Accounts | Debit (OMR) | Credit (OMR) |
| Prepaid Rent | 30,000 |
|
| Capital |
| 25,000 |
| Accounts receivable | 1400 |
|
| Wages expense | 250 |
|
| Sales Revenue |
| 5,250 |
| Interest revenue |
| 10,250 |
| Furniture | 3,100 |
|
| Vehicle | 4,100 |
|
| Rent expense | 300 |
|
| Salary expense | 375 |
|
| Miscellaneous expense | 125 |
|
| Electricity bill expense | 150 |
|
| Retained earnings |
| 2800 |
| Advertising expense | 1000 |
|
| Telephone and internet bill expense | 2500 |
|
| Bills payable |
| 2500 |
| Short term loan |
| 1850 |
| Commission Payable |
| 200 |
| Bills receivable | 5,300 |
|
| Delivery Van | 750 |
|
| Long term Loan |
| 1500 |
|
| 49,350 | 49,350 |
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
