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Prepare Trading & Profit and Loss Account, from the following balances of Mr. Khalifa for...

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Accounting

  1. Prepare Trading & Profit and Loss Account, from the following balances of Mr. Khalifa for the year ending 31.12.2010.
  • Office rent AED 3000 Discount allowed AED 600
  • Tax, Insurance AED 1,400 Travelling expenses AED 2,600
  • Discount received AED. 400 Purchases AED 60000
  • Advertisement AED 3,600 Opening stock- AED 10000
  • Salaries AED 8,000 Sales- AED 190000
  • Stationeries AED 2,400 Closing stock- AED 20000

Note: Answers should be in Word or in Excel

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