If you knew that the accounts of the first Arab company at the end of...
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Accounting
If you knew that the accounts of the first Arab company at the end of the year 2020 were available as follows: (10 degrees) creditors 19400 Income tax payable 560 debtors 24900 Marketing expenses 6800 Advertising services revenue 165200 Office rental expenses 13500 cash 1800 salary expense 86000 Ordinary capital 5000 salaries payable 1300 Distributions 0 supplies 1600 Equipment rental costs 37200 supplies expense 19100 income tax expense 560 Required: 1. Prepare the following financial statements: the income statement, the retained earnings statement, and the statement of financial position (6 marks) 2. As a financial accountant, provide a thorough analysis of the company's financial performance. (4 degrees) (Always remember: define, explain, explain, justify and be decisive the teacher asked like this
If you knew that the accounts of the first Arab company at the end of the year 2020 were available as follows:
(10 degrees)
creditors
19400
Income tax payable
560
debtors
24900
Marketing expenses
6800
Advertising services revenue
165200
Office rental expenses
13500
cash
1800
salary expense
86000
Ordinary capital
5000
salaries payable
1300
Distributions
0
supplies
1600
Equipment rental costs
37200
supplies expense
19100
income tax expense
560
Required:
1. Prepare the following financial statements: the income statement, the retained earnings statement, and the statement of financial position (6 marks)
2. As a financial accountant, provide a thorough analysis of the company's financial performance. (4 degrees)
(Always remember: define, explain, explain, justify and be decisive
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