Accountancy, asked by bijojinu517, 3 months ago

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

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38,000

Required:  Prepare Income Statementfrom the above information​

Answers

Answered by Mahthiya
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

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