Homework answers / question archive / Following is the Trail balance of Alpha Ltd company as on 31" December 2019; Particulars OMR Particulars OMR Opening Stock 40,000 Capital 200,000 Cash 22,000 Purchase returns 6,400 Bank 27,000 Sales 480,000 Administrative salaries 16,000 Purchase Discount 3,600 Stationary 8

Following is the Trail balance of Alpha Ltd company as on 31" December 2019; Particulars OMR Particulars OMR Opening Stock 40,000 Capital 200,000 Cash 22,000 Purchase returns 6,400 Bank 27,000 Sales 480,000 Administrative salaries 16,000 Purchase Discount 3,600 Stationary 8

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Following is the Trail balance of Alpha Ltd company as on 31" December 2019; Particulars OMR Particulars OMR Opening Stock 40,000 Capital 200,000 Cash 22,000 Purchase returns 6,400 Bank 27,000 Sales 480,000 Administrative salaries 16,000 Purchase Discount 3,600 Stationary 8.400 Accounts payable 14,000 Distribution 5,600 Retained Earnings 6,000 Sales offices rent 3,000 Creditors 12.000 Buildings 85,000 Tax payable 5,000 Salesmen salaries 18,000 Purchases 300,000 Purchase Transportation 10,000 Sales Allowance and Discount 6,000 Sales returns 4,000 Entertainment 4,000 Furniture 38,000 Accounts receivable 42,000 Machinery 48,000 Cars 20,000 Land 30,000 727,000 727,000 Note: Closing stock as on 31 December 2019 is OMR 60,000 Requirement: You are required to Prepare Income Statement and Balance sheet