Al Ismail Fashions (AIF) is a garment company. The following are the financial details of the AIF. The following are the financial details of the AIF.Q: Give a brief report on the financial position of the company based on the above figures. LiabilitiesOMRAssetsOMREquity share capital27,800Furniture4,000Accounts Payable1,550Cash in hand4,500Reserves and surplus2,550Bills receivables3,750Bills payable950Land9,000Long term borrowings6,520Marketable securities850Outstanding Salaries850Cash in bank5,250Loan from Bank3,450Building6,600Preference share capital5,265Prepaid expenses850Bank overdraft825Cars & Trucks3,350Tax outstanding590Account Receivables1,150Inventory2,150Income earned but not430receivedMachinery6,250Equipment2,220Total50,350Total50,350 Other informationParticularsOMRSales330,000Cost of goods sold155,000Administration expenses33,000|Selling & Distribution exp.44,000Interest received12,200Rent Received2,000Commission received1,750

The financial position of the company can be analyzed with the help of financial ratios. Some of the…

Al Ismail Fashions (AIF) is a garment company. The following are the financial details of the AIF. The following are the financial details of the AIF. Q: Give a brief report on the financial position of the company based on the above figures.

Al Ismail Fashions (AIF) is a garment company. The following are the financial details of the AIF. The following are the financial details of the AIF. Q: Give a brief report on the financial position of the company based on the above figures.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 18MCQ

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