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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 |
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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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