B spikes Trial Balan ce as on 31 December 2002 Dr(Kshs) C(Kshs) Stock of raw materials 1.1.2002 2 Stock of finished goods 1.1.2002 3 Work in progress 1.1.2002 1 21,000 38,900 13,500 4 Wages(direct Sh.180,000: factory indirect Sh.145,000) 325,000 5 Roy alties 6 Carriage in wards (on raw materials) 7 Purchases of raw materials 8 Productive machinery (cost Sh.280.000) 9 Accounting machinery (cost Sh.20,.000) 10 General factory expenses 11 Lighting 7,000 3,500 370,000 230,000 12,000 31,000 7,500 12 Factory power 13,700 13 Administrative Salaries 44,000 14 Sales repres entatives' salaries 30,000 15 Commis sion on sales 11,500 16 Rent 17 Insurance 12,000 4,200 18 General administration expenses 13,400 19 Bank charges 20 Discounts allowed Carriage outwards 2,300 4,800 21 5,900 22 Sales 1,000,000 23 Debtors and creditors 142,300 125,000 24 Bank 56,800 25 Cash 26 Drawings 27 Capital as at 1.1.2002 1,500 20,000 296,800 28 1,421,800 1,421,800 ces at 31.12.2002 ock of mw materia s Sh.24,0X00,Stock of finished goods Sh.40,000, Work in progress Sh.15,000. ighting, and rent and insurance are to be apportioned: factory 5/6ths, administation 1/6th. epreciation on poductive and accounting machinery at 10 per cent per annum on cost. uired: a)Prepare a manufacturing, Tmding Profit and Loss Account for the year ended 31 December 2002. b)Ba lance Sheet as at 31.12.2002
B spikes Trial Balan ce as on 31 December 2002 Dr(Kshs) C(Kshs) Stock of raw materials 1.1.2002 2 Stock of finished goods 1.1.2002 3 Work in progress 1.1.2002 1 21,000 38,900 13,500 4 Wages(direct Sh.180,000: factory indirect Sh.145,000) 325,000 5 Roy alties 6 Carriage in wards (on raw materials) 7 Purchases of raw materials 8 Productive machinery (cost Sh.280.000) 9 Accounting machinery (cost Sh.20,.000) 10 General factory expenses 11 Lighting 7,000 3,500 370,000 230,000 12,000 31,000 7,500 12 Factory power 13,700 13 Administrative Salaries 44,000 14 Sales repres entatives' salaries 30,000 15 Commis sion on sales 11,500 16 Rent 17 Insurance 12,000 4,200 18 General administration expenses 13,400 19 Bank charges 20 Discounts allowed Carriage outwards 2,300 4,800 21 5,900 22 Sales 1,000,000 23 Debtors and creditors 142,300 125,000 24 Bank 56,800 25 Cash 26 Drawings 27 Capital as at 1.1.2002 1,500 20,000 296,800 28 1,421,800 1,421,800 ces at 31.12.2002 ock of mw materia s Sh.24,0X00,Stock of finished goods Sh.40,000, Work in progress Sh.15,000. ighting, and rent and insurance are to be apportioned: factory 5/6ths, administation 1/6th. epreciation on poductive and accounting machinery at 10 per cent per annum on cost. uired: a)Prepare a manufacturing, Tmding Profit and Loss Account for the year ended 31 December 2002. b)Ba lance Sheet as at 31.12.2002
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:B spikes
Trial Balan ce as on 31 December 2002
Dr(Kshs)
C(Kshs)
1 Stock of raw materials 1.1.2002
2 Stock of finished goods 1.1.2002
3 Work in progress 1.1.2002
4 Wages(direct Sh.180,00O: factory indirect Sh. 145,000)
5 Roy alties
6 Carriage in wards (on raw materials)
7 Purchases of raw materials
8 Productive machinery (cost Sh.280,.000)
9 Accountin g machinery (cost Sh.20,000)
10 General factory expenses
11 Lighting
12 Factory power
21,000
38,900
13,500
325,000
7,000
3,500
370,000
230,000
12,000
31,000
7,500
13,700
13 Administrative Salaries
44,000
14 Sales repres entatives' salaries
30,000
15 Commission on sales
11,500
16 Rent
17 Insurance
12,000
4,200
18 General administration expenses
19 Bank charges
20 Discounts allowed
13,400
2,300
4,800
21
Carriage outwards
5,900
22 Sales
1,000.000
23 Debtors and credit ors
142,300
125,000
24 Bank
56,800
25 Cash
26 Drawings
1,500
20,000
27 Capital as at 1.1.2002
296,800
28
1,421,800
1.421.800
Notes at 31.12.2002
1.Stock of mw materia is Sh.24,000,Stock of fin is hed goods Sh.40,000, Work in progress Sh.15,O00.
2. Lighting, and rent and insurance are to be apportioned: factory S/6ths, admin istation 1/ Gth.
3. Depreciation on pmductive and accounting machinery at 10 per cent per annum on cost.
Required:
a)Prepare a manufacturing, Tmding Profit and Loss Account for the year ended 31 December 2002.
b)Balance Sheet as at 31.12.2002
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