Accounting assignment

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Army Transportation and Aviation Logistics School

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Accounting assignment

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Case- 4 You were given the ledger balances of Safeya Graphics Arts for the year ended December 31, 2019: Accounts Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Equipment Advertising Expense Service Revenues Building Cash Depreciation-Building Depreciation-Equipment Bank Bank overdraft Unearned Revenue Supplies Expense Equipment Amount (OMR) 122 ,50 0 219 ,00 0 60, 000 60, 000 105 ,00 0 1,4 37, 500 450 ,00 0 36, 200 30, 000 30, 000 42, 500 48, 500 12, 000 18, 000 217 ,00 0 Interest Expense Land Miscellaneous Expense Bills Payable Notes Payable Office Supplies Capital Drawings Representation Expense Salaries Payable Travel Expense Salaries Expense 37, 000 120 ,00 0 24, 600 395 ,00 0 50, 500 17, 200 213 ,00 0 148 ,60 0 164 ,00 0 17, 300 159 ,00 0 673 ,20 0 During the year, Safeya invested additional OMR 75,000 in the business. Question No. 5 Required: Prepare the following: a. Income Statement b. Statement of Changes on Owner’s Equity (4.5 Marks) (2.5Marks) A. Income Statement for the year ended 31st December, 2019 Statement Showing Changes in Owner’s Equity b. Question No. 6 Using the same data in Case 4, prepare the Statement of Financial Position. (8 Marks) Statement of Financial Position as at 31st December, 2019
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Surname 1
Student’s Name
Tutor
Course
Date

Case- 4
You were given the ledger balances of Safeya Graphics Arts for
the year ended December 31, 2019:
Accounts
Accounts Payable

Accounts Receivable

Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Advertising Expense

Service Revenues

Building

Cash
Depreciation-Building
Depreciation-Equipment
Bank
Bank overdraft

Amount
(OMR)
122
,50
0
219
,00
0
60,
000
60,
000
105
,00
0
1,4
37,
500
450
,00
0
36,
200
30,
000
30,
000
42,
500
48,
500

Surname 2
Unearned Revenue
Supplies Expense
Equipment

Interest Expense
Land

Miscellaneous Expense
Bills Payable

Notes Payable
Office Supplies
Capital

Drawings

Representation Expense

Salaries Payable
Travel Expense

Salaries Expense

12,
000
18,
000
217
,00
0
37,
000
120
,00
0
24,
600
395
,00
0
50,
500
17,
200
213
,00
0
148
,60
0
164
,00
0
17,
300
159
,00
0
673
,20
0

During the year, Safeya invested additional OMR 75,000 in the
business.
Question No. 5

Surname 3

Required: Prepare the following:
a. Income Statement
b. Statement of Changes on Owner’s Equity

(4.5 Marks)
(2.5Marks)

A. Income Statement for the year ended 31st December, 2019
Safeya Graphics Arts
Income statement
For the year ended 31 December 2019
OMR
Service Revenue
EXPENSES
Advertising expense
Supplies expense
Interest expense
Miscellaneous expense
Representation expense
Travel expense
Salaries expense
Depreciation expense on building
Depreciation expense on equipment
TOTAL EXPENSES

OMR
1437500

105000
18000
37000
24600
164000
159000
673200
60000
60000

NET INCOME

13...


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