Ahmad is an entrepreneur and owner of the company. He thinks whether should he continue his activity and hired you as an analyst in order to carry out a general businessanalysis. He gave you the general data of from his draftbook: Initial capital 550000 AZN. Salaries for hired employees 11000 AZN. Rented office for company 2000 AZN.Communal services 1000 AZN. Goods obtained 110000 AZN. Sales were 70% of inventory with Trade surcharge of 45 %. 40% of cash were received. Profit Tax 20%. Allexpenses were paid. write income statement

Data Available Initial capital550,000Salaries for hiired employees11,000Rent2,000Communal…

Answered: Ahmad is an entrepreneur and owner of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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