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10:17 AM Mon 22 Jul 52% Final Project.pdf Q3) Following is the Trial...

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Accounting

10:17 AM Mon 22 Jul
52%
Final Project.pdf
Q3) Following is the Trial Balance of Hamza Trading Company as on 31-12-2021. You are required to prepare Income Statement and Balance Sheet.
\table[[Name of Account,SR,Name of Account,SR],[Cash,2,125,Sales,30,000],[Account receivable,3,700,Account payable,1,625],[Prepaid rent,6,050,Notes payable,2,000],[Opening inventory,2,300,Purchase returns,625],[Insurance expenses,250,Capital,11,725],[Office equipment,1,500,,],[Sale returns,875,,],[Wages,2,400,,],[Supplies expenses,2,650,,],[General expenses,375,,],[Purchases,23,750,,],[Total,45,975,Total,45,975]]
End period adjustments are as follow:
The merchandise inventory as on 31-12-2021 was valued at SR 3,000.
Supplies unexpired SR 650.
Outstanding wages SR 120.
Commission earned but not received yet SR 500.
Bad debts SR.700.
Q4) Following is the Trial Balance of Ali Trading Company as on 31-12-2021. You are required to prepare Income Statement and Balance Sheet.
\table[[Name of Account,SR,,Name of Account,SR],[Machinery,12,000,Sales,10,000,],[Account receivable,10,690,Account payable,12,408,],[Bank account,3,150,Interest received,627,],[Building,7928,Canital,19,829,]]
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