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The following are the details of accounts of Mr. Omar. PARTICULARS Amount (RO) Sales 150,000 Purchases 85,000 Sales return 4, 000 Purchase return 1,000 Discount
The following are the details of accounts of Mr. Omar. PARTICULARS Amount (RO) Sales 150,000 Purchases 85,000 Sales return 4, 000 Purchase return 1,000 Discount received 2,000 Discount allowed 1,400 Stock 1st January 2019 15,000 Salaries 2,000 Rent and rates 1, 200 Sundry expenses 1, 400 Premises 100,000 Vehicles 25,000 Accounts Receivables 10,000 Cash 8, 000 Accounts payable 14, 000 Tax payable 2,000 Capital 80,000 Drawings 6, 000 Long term loans 10,000 Closing Stock on December 31, 2019 OMR Required: - 1. Prepare the Trial balance of Mr. Omar. (1 MARK) 2. Prepare Statement of Comprehensive Income for the year ended 31st December 2019. (2 MARKS) 3. Statement of Financial Position as on 31st December 2019. (2 MARKS)
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