1. Prepare the necessary Adjusting Entries on 31st December 2018
2. Prepare the Adjusted Trial Balance 
3. Prepare Income Statement, Statement of Owners’ Equity and Balance Sheet.

Additional Information about the business,

• Unearned revenues at 31st December 2018, is OMR 3,500.
• Service revenues earned but not recorded at 31st December 2018, OMR 5600
• Supplies expense for the year, 850 OMR.
• Depreciation expense for the machinery for the year , 7000 omr
• Salaries accrued but not yet paid on 31st December 2018, OMR 6250
• Rent expense for the year Rs 450

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Income statement solution

income statement page 2
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