- The Following Information For Al Wafa Company Is As Shown Below For The Year 2021 Cash Aed 124 000 Accounts Receivable 1 (34.46 KiB) Viewed 26 times
The following information for Al-Wafa Company is as shown below for the year 2021; Cash AED 124,000 Accounts receivable 19,000 Salaries expense 32,000 utilities expense 11,000 Salaries payable 12,000 Owner's drawings 7,000 Owner's Capital 350,000 Long term Loan 20,000 Accounts payable 27,000 Equipment 200,000 Services revenue 128,000 Prepaid rent 80,000 Rent expense 40,000 Uneraned service 21,000 revenue Furniture 75,000 Long term notes 30,000 payable Instructions: Prepare the followings: 1- Income statement (8 marks) 2- Owner's equity statement (6 marks) 3- Balance sheet (16 marks)