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Q4) Following is the Trial Balance of Ali Trading Company as on 31-12-2021. ...

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Accounting

Q4) Following is the Trial Balance of Ali Trading Company as on 31-12-2021.

Name of Account

SR

Name of Account

SR

Machinery

Account receivable

Bank account

Building

Purchases

Opening stock

Drawings

Carriage in

Wages

Salaries expenses

Sale returns

Postal expenses

Trade expenses

Total

12,000

10,690

3,150

7,928

3,700

384

250

600

1,910

1,300

119

133

700

42,864

Sales

Account payable

Interest received

Capital

Total

10,000

12,408

627

19,829

42,864

requirements:-

You are required to prepare Income Statement and Balance Sheet. End period adjustments are as follow:

The merchandise inventory as on 31-12-2021 was valued at SR 1,500.

Trade expense paid in advance SR 200.

Depreciation on machinery SR 3000 and Building SR 928.

Outstanding wages SR 120.

Unearned interest SR 27.

Salaries paid in advance SR 120.

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