CASE STUDY 5 Prepare the statements of Financial performance and Position Particulars OMR (Debit) OMR (Credit)...

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CASE STUDY 5 Prepare the statements of Financial performance and Position Particulars OMR (Debit) OMR (Credit) Opening stock 20,000 Rent 1,000 Plant and Machinery 80,000 Land and Buildings 127,500 Provision for depreciation on machinery 20,000 Power 1,750 Purchases & Sales 37,500 75,000 Sales returns 1.250 Telegram and postage 200 Wages 2.250 Salary 1,250 Insurance 1,600 Discount 500 750 Repairs and renewals 1,000 Legal charges 350 Trade taxes 600 Drawings Debtors Investment Bad debts Trade expenses Commission Provision for bad debts 37,500 32,500 1,000 2,250 1,240 10,010 Page 9 of 14 Adjustment: Closing stock OMR 17,750 Depreciate Plant and Machinery 5% on WDV and land and building 6% on SLM Further bad debts OMR 1,250 and make provision for bad debts on debtors 5% salary outstanding OMR 100 and wages outstanding OMR 250 Insurance prepaid OMR 250 Closing stock OMR 17,750 500 General Reserves 25,000 capital Creditors Bills payable Loan Total 135,000 25.000 25,000 55,000 361,250 361,250 Course Code: BSAC3102 Course Intermediate Accounting Semester 1-AY 2023-2024 CASE STUDY 5 Prepare the statements of Financial performance and Position Particulars OMR (Debit) OMR (Credit) Opening stock 20,000 Rent 1,000 Plant and Machinery 80,000 Land and Buildings 127,500 Provision for depreciation on machinery 20,000 Power 1,750 Purchases & Sales 37,500 75,000 Sales returns 1.250 Telegram and postage 200 Wages 2.250 Salary 1,250 Insurance 1,600 Discount 500 750 Repairs and renewals 1,000 Legal charges 350 Trade taxes 600 Drawings Debtors Investment Bad debts Trade expenses Commission Provision for bad debts 37,500 32,500 1,000 2,250 1,240 10,010 Page 9 of 14 Adjustment: Closing stock OMR 17,750 Depreciate Plant and Machinery 5% on WDV and land and building 6% on SLM Further bad debts OMR 1,250 and make provision for bad debts on debtors 5% salary outstanding OMR 100 and wages outstanding OMR 250 Insurance prepaid OMR 250 Closing stock OMR 17,750 500 General Reserves 25,000 capital Creditors Bills payable Loan Total 135,000 25.000 25,000 55,000 361,250 361,250 Course Code: BSAC3102 Course Intermediate Accounting Semester 1-AY 2023-2024