Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department...

 

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Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in USA. The company furnishes the following accounts data for the year ended, December 31, 2021. Details Machinery Premises Sales Sales discounts Sales returns and allowances Cost of goods sold Interest revenue Advertising expenses Sales salary expenses Purchase returns Depreciation expenses: Office equipment Office supplies expenses Insurance expenses Bank Interest expenses Freight outwards Rent (50% for administrative expenses) Utilities (70% for selling expenses) Gain on sale of property Loss on lawsuit Depreciation expenses: Delivery Truck Loss on sale of property Electricity Expenses: (80% for selling expenses) Debit (OMR) 250,000 800,000 50,000 10,000 315,000 60.000 31,000 27,000 15,000 10,000 100,000 3,300 9,000 14,000 4,400 You are required to: (a) Draw up a Multiple Step Income Statement for the year ended 31 December 2021 (b) Draw up a Single Step Income Statement for the year ended 31 December 2021 (c) Draw up a Statement of Fiancial Position(extracts) for the year ended 31 December 2021 (d) Write a Report on the Financial Performance of the business based on the financial statements prepared. 2,100 2,900 2,100 10,600 Credit (OMR) 950,000 2,500 10,000 28,800 U Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in USA. The company furnishes the following accounts data for the year ended, December 31, 2021. Details Machinery Premises Sales Sales discounts Sales returns and allowances Cost of goods sold Interest revenue Advertising expenses Sales salary expenses Purchase returns Depreciation expenses: Office equipment Office supplies expenses Insurance expenses Bank Interest expenses Freight outwards Rent (50% for administrative expenses) Utilities (70% for selling expenses) Gain on sale of property Loss on lawsuit Depreciation expenses: Delivery Truck Loss on sale of property Electricity Expenses: (80% for selling expenses) Debit (OMR) 250,000 800,000 50,000 10,000 315,000 60.000 31,000 27,000 15,000 10,000 100,000 3,300 9,000 14,000 4,400 You are required to: (a) Draw up a Multiple Step Income Statement for the year ended 31 December 2021 (b) Draw up a Single Step Income Statement for the year ended 31 December 2021 (c) Draw up a Statement of Fiancial Position(extracts) for the year ended 31 December 2021 (d) Write a Report on the Financial Performance of the business based on the financial statements prepared. 2,100 2,900 2,100 10,600 Credit (OMR) 950,000 2,500 10,000 28,800 U

Answer rating: 100% (QA)

Answer a Multiple Step Income Statement for the year ended 31 December 2021 Revenue Gross sales 950000 Less Sales returns and allowances 10000 Net sal... View the full answer