ated below is information for Ramadan Sweets for the year ended 31 March 2022. articular Cost of goods sold AED Particular AED 316,000 Rent Expenses 42,400 Sales Discount 3,200 Sales Return and allowances 4,750 Sales Revenue 680,000 Other comprehensive income 12,450 Loss on disposal of plant assets 4,650 Bank loans 32,000 Salaries and wages expense 1,230 Freights-out 2,600 Insurance expense 766,800 Owner's Capital 12,650 Interest expense 3,450 Interest revenue 250,000 REQUIRED: a. Prepare an income statement. b. Prepare a comprehensive income statement.

ated below is information for Ramadan Sweets for the year ended 31 March 2022. articular Cost of goods sold AED Particular AED 316,000 Rent Expenses 42,400 Sales Discount 3,200 Sales Return and allowances 4,750 Sales Revenue 680,000 Other comprehensive income 12,450 Loss on disposal of plant assets 4,650 Bank loans 32,000 Salaries and wages expense 1,230 Freights-out 2,600 Insurance expense 766,800 Owner's Capital 12,650 Interest expense 3,450 Interest revenue 250,000 REQUIRED: a. Prepare an income statement. b. Prepare a comprehensive income statement.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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