Target LLC company is one of the supplier for PDO in Oman. The company is has started to set up…


Target LLC congregation is one of the supplier for PDO in Oman. The congregation is has instituted to set up facilities in Fahud and Duqm part in Oman. You are the accountant of the congregation. Your government wants you to make-ready the financial declaration in such a way, not-difficult for them to conceive. You are required to exhibit the Trial Balance and the financial declarations succeeding incorporating the adjustments in a unmarried declaration using yield. The subjoined are the details of the Trial Balance for the congregation. Particulars Amount (RO) Return Outward 406,000 Commission Income 103,250 Unconcealed withholding 1,400,000 Accumulated Depn-Heavy vehicles 612,500 Equity Share Capital 10,500,000 Revenue 19,775,000 Bank Muscat – Loan 2,100,000 Accounts Receivables 3,062,500 Cash and Bank 592,200 Resources Building ground 7,000,000 Directors Fees 120,455 Income Tax 63,895 Income from Investment 184,350 Heavy vehicles –Cost 1,225,000 Salaries 1,020,600 Selling and Dist exp 1,925,000 Sundry Creditors 2,562,000 Conveyance payment 14,188 Insurance payment 16,350 Discount Income 33,663 Maintenance Payment 3,125 Air-conditioning Plant 7,000,000 Purchases 13,827,100 Returns inwards 929,250 Carriage Outwards 877,100 Repair & Renewals 56,900 Telephone Payment 23,640 Petrol Payment 17,260 Bills payables 70,100 Profit on sale of resources 27,700 Adjustments 1. Depreciation on Heavy Vehicles is 30% 2. Failure store was RO 150,000 3. Provision for Doubtful Debts is made @ 5% on failure receivables 4. Transfer to unconcealed withholding during the year is RO 175,500 . 5. Insurance prepaid was RO 1,350