Question: Question No. 4 Based on the information in Case No. 3, prepare Statement of Financial Position or Balance Sheet. (8 Marks) Statement of Financial Position
Question No. 4 Based on the information in Case No. 3, prepare Statement of Financial Position or Balance Sheet. (8 Marks) Statement of Financial Position as at 31 December, 2019 You were given the ledger balances of Haya Minerals LLC, Oman for the year ended December 31, 2019: Accounts Amount (OMR) Cash in hand 125,500 Cash at Bank 145,500 Carriage outward 20,000 Salary 40,000 Salary payable 18,000 Sales 195,000 Plant 240,000 Machinery 70,200 Rent 60,000 Rent outstanding 30,000 Goodwill 50,500 Bank overdraft 137,500 Unearned Revenue 110,000 Commission paid 25,000 Creditors 47,000 Interest Paid 17,000 Interest Received 40,000 Travelling allowances 24,000 Bills Payable 135,000 Retained earnings 40,500 Office Supplies 47,200 Capital 193,700 Drawings 58,000 Prepaid insurance 34,000 Interest payable 34,200 Insurance expense 24,000
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