34 WEEK 8 Question 3 From the following given Account balances of Adams Ltd, you are required to prepare: Not yet answered Marked out of 1. Income Statement (4 Marks) 10.00 Flag question 2. Retained Earnings Statement (2Marks) 3. Balance Sheet (4 Marks) ADAMS LTD TRAIL BALANCE S.NO Details Amount in AED Amount in AED 1 555,000 Salary Expenses Rent Eynenses a 233000 ENGLISH (EN) S.NO Details Amount in AED Amount in AED 1 555,000 2 233000 3 122,000 80,000 4 5 1,250,000 6 Salary Expenses Rent Expenses Insurance Expenses Depreciation Expense Equipment Accumulated Depreciation Property Accounts Payable Salary Payable Loan From ADCB Prepaid Expenses Cash 240,000 240,000 7 1055000 8 211,000 9 100000 10 500,000 11 199,000 12 288,000 13 Services Revenue 1,850,000 14 Equity Shares Retained Earnings 600,000 15 428,000 16 Dividends 147000 TOTAL 3,929,000 3,929,000