Question
1. Started business with OMR 45,000
2. Purchase goods from Mr. Ahmed OMR 9,000
3. Bought machine for OMR 7,000
4. Paid rent OMR _______4000
5. Sold goods on credit to Mr. Yusuf for OMR 12,000
6. Received interest OMR __11000
7. Sold goods for OMR ___6000
8. Purchase goods for OMR 4000 and paid 50% cash.
9. Withdrawn 10 % of capital from the
business for personal use.
10. Deposited OMR 2,000 in the bank.
11. Sold car for OMR __8000
12. Withdrawn money from bank OMR 1,000
 
 
Q1)
1. Most of the companies uses Multi-step Income statement, you are required to convert Income Statement of your company from Multi-step to Single Step
 
4. What is the current year depreciation and method used by your company, show the detail attached with Notes Disclosures and its relevant number.

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