1- Prepare a Manufacturing account for the year ended 31 December 2017 2- Prepare a Trading account for the year ended 31 December 2017 RM 1 January 2017, Stock of raw materials 31 December 2017, Stock of raw materials 1 January 2017, Work in progress 31 December 2017, Work in progress 800 1,050 350 420 Year to 31 December 2017: Wages : Direct : Indirect 3,960 2,550 Purchase of raw material 8,700 Fuel and power Direct expenses Lubricants 990 140 300 Carriage inwards on raw materials Rent of factory Depreciation of factory plant & machinery Internal transport expenses Insurance of factory buildings and plant General factory expenses 1 January 2017, Stock of finished goods 31 December 2017, Stock of finished goods Sales of finished goods 200 720 420 180 150 330 3,500 4,400 25,000

1- Prepare a Manufacturing account for the year ended 31 December 2017 2- Prepare a Trading account for the year ended 31 December 2017 RM 1 January 2017, Stock of raw materials 31 December 2017, Stock of raw materials 1 January 2017, Work in progress 31 December 2017, Work in progress 800 1,050 350 420 Year to 31 December 2017: Wages : Direct : Indirect 3,960 2,550 Purchase of raw material 8,700 Fuel and power Direct expenses Lubricants 990 140 300 Carriage inwards on raw materials Rent of factory Depreciation of factory plant & machinery Internal transport expenses Insurance of factory buildings and plant General factory expenses 1 January 2017, Stock of finished goods 31 December 2017, Stock of finished goods Sales of finished goods 200 720 420 180 150 330 3,500 4,400 25,000

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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