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  3. a. from the given trial balance of al mas shop, pr

A. From the given trial balance of Al Mas Shop, prepare 1. Income statement for...

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Accounting

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A. From the given trial balance of Al Mas Shop, prepare 1. Income statement for the year 2020 (5 marks) 2. Balance sheet for 31st December, 2020 (15 marks) AL Mas Shop Trial Balance 31st December, 2020 Account Debit Credit Cash in hand 5,300 Sale 50,000 Cash in bank 10,000 Account Receivable 10,800 1,500 Inventory Land 27,000 6,700 Intangible asset Prepaid insurance 2,000 6,100 Account payable Interest payable Trade receivable 600 900 Financial debt 1500 30,000 4500 1000 Long-term loan Income tax payable Bond payable Wages payable Owner Drawing Purchase Notes payable 400 7,000 5,600 9500 Consultation revenue 4300 2000 13,000 Salary payable Capital Administrative expenses Salary expenses Furniture 30,100 20,000 7000 Rent Revenue 11,000 Total 133900 133900

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