The XYZ Company has following balances for the year ended 31 December, 2020. (5 Marks)
Particulars
Amount (OMR)
Sales
900,000
Purchases
450,000
Sales returns
60,000
Opening Stock
400,000
Salaries and wages
58,000
Carriage inwards
40,000
Depreciation expense
34,000
Rent Received
95,000
Closing Stock
350,000
Purchase Returns
50,000
Direct wages
220,000
Advertisement
38,000
Required: Prepare Income Statementfrom the above information
Answers
Answered by
0
Answer:
i think this question is from final accounts.
income statement is also called as a profit and loss account. It may or may not correct
Attachments:
Similar questions