Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. q3) following is the trial balance of hamza tradin

Q3) Following is the Trial Balance of Hamza Trading Company as on 31-12-2021. ...

90.2K

Verified Solution

Question

Accounting

Q3) Following is the Trial Balance of Hamza Trading Company as on 31-12-2021.

Name of Account

SR

Name of Account

SR

Cash

Account receivable

Prepaid rent

Opening inventory

Insurance expenses

Office equipment

Sale returns

Wages

Supplies expenses

General expenses

Purchases

Total

2,125

3,700

6,050

2,300

250

1,500

875

2,400

2,650

375

23,750

45,975

Sales

Account payable

Notes payable

Purchase returns

Capital

Total

30,000

1,625

2,000

625

11,725

45,975

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 3,000.

Supplies unexpired SR 650.

Outstanding wages SR 120.

Commission earned but not received yet SR 500.

Bad debts SR. 700.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Excerpt from Why the German Republic Fell by Bruno Hellig published in Why the German...

Statistics
Q

Please give me step by step answer how to solve this question: Consider the following example. In...

Statistics
Q

Part A What mass of calcium can be produced by this process if a current of...

Chemistry
Q

Find the exact value of the trigonometric function at the given real number 57 3...

Basic Math
Q

A certain store has a fax machine available for use by its customers. The storecharges...

Basic Math
Q

se the graph of f x to discuss the graph of y f x Organize...

Calculus
Q

EXERCISE Recent financial statements for Madison Corporation, a company that sells drilling equipment, are given...

Accounting
Q

Landen Corporation uses job-order costing. At the beginning of the year, it made the following...

Accounting
Q

Assume that $17,300 cash is paid for insurance to cover the next year. The appropriate...

Accounting
Q

Dammer Corporation needs to raise $2,200,000. The corporation plans to sell 5%,10-year bonds at the...

Accounting
Q

Crane Medical manufactures hospital beds and other institutional furniture. The company's comparative balance sheet and...

Accounting
Q

Moleno Company produces a single product and uses a standard cost system. The normal production...

Accounting