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Que: 1: The following are the income statement and opening Balance sheet of Jaffer LLC....

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Accounting

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Que: 1: The following are the income statement and opening Balance sheet of Jaffer LLC. For the year 2017 Particulars Amount(OMR) Sales 3700.000 Less: Cost of goods sold: Opening Stock FIFO) 0000 Purchases P2000 Cost of goods available TSOTRO Less Closing stock (FIFO) 20,000 (6001) Gross Pront 140 TURKU Operating expenses 200 Depreciation 20.000 Interest on loan 10.000 (70000) Retained Eaming 70000 Balance Sheet of Jaffer LLC as on 1-1-2017 LIABILITIES Amount(OMR) ASSETS AmouTOMIR) Share Capital 200,000 Plant & Machinery 200000 Bank Loan SOTO hrventiones 60000 Creditors 70.000 Debtors 36,000 24,000 320,000 320,000 Balances of debtors & creditors remained unchanged through our the year General price indices were as given below: On 1-1-2017 ... 200 On 31-12-2017----300 da price Index 250 You are required to prepare the income statement for the year and the balance sheet as on 31-12-2017 after adjusting price level changes under CPP method

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