Beta spikes Ltd                                                                           Trial Balance as on 31 December 2002                                                                                                         Dr(Kshs)  Cr(Kshs)  Stock of raw materials 1.1.2002                                                                 21,000    Stock of finished goods 1.1.2002                                                                 38,900    Work in progress 1.1.2002                                                                            13,500    Wages(direct Sh.180,000: factory indirectSh.145,000)                           325,000    Royalties                                                                                                              7,000    Carriage inwards (on raw materials)                                                              3,500    Productive machinery (cost Sh.280,000)      230,000    Purchases of raw materials                                                                                                                                                                                   370,000    Accounting machinery (cost Sh.20,000)                                                       12,000    General factory expenses                                                                             31,000     Factory power   13,700    Lighting                                                                                                                                                                                      7,500    Administrative Salaries  44,000    Sales Representative Salaries  30,000    Commission on Sales  11,500    Rent                                                                                                                   12,000    Insurance                                                                                                             4,200    General administration expenses                                                                 13,400    Bank charges                                                                                                      2,300    Discounts allowed                                                                                             4,800    Carriage outwards                                                                                              5,900    Sales     1,000,000  Debtors and Creditors  142,300   125,000  Bank                                                                                                 56,800    Cash  1,500    Drawings  20,000    Capital as at 1.1.2002    296,800     1,421,800   1,421,800        Notes at 31.12.2002      1.Stock of raw materials Sh.24,000,Stock of finished goods Sh.40,000,Work in progress Sh.15,000.      2. Lighting, and rent and insurance are to be apportioned: factory 5/6ths, administration 1/6th.     3. Depreciation on productive and accounting machinery at 10 per cent per annum on cost.     Required:      a)Prepare a manufacturing, Trading Profit and Loss Account for the year ended 31 December 2002 .      b)Balance Sheet as at 31.12.2002