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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.
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