The following is B spikes trial balance

B spikes

Trial Balance as on 31 December 2002

Dr Cr

Stock of raw materials 112002 21,000

Stock of finished goods 112002 38,900

Work in progress 112002 13,500

Wages(direct Ksh180,000: factory indirect Ksh145,000) 325,000

Royalties 7,000

Carriage inwards (on raw materials) 3,500

Purchases of raw material 370,000

Productive machinery(cost Ksh280,000) 230,000

Accounting machinery (cost Ksh20,00) 12,000

General factory expenses 31,000

Lighting 7,500

Factory power 13,700

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 1000,000

Debtors and creditors 142,300 125,000

Bank 56,800

Cash 1,500

Drawing 20,000

Capital as at 112002 –29,680

1,421,8001,421,800

Note at 31122002

1 Stock of raw material Ksh 24,000, stock of finished goods Ksh 40,000, work in progress Ksh 15,000

2 Lighting, and rent and insurance are to be apportioned: factory 5/6th, administration 1/6th

3 Depreciation on productive and accounting machinery at 10 per cent annum on cost

Required:

Prepare a manufacturing, Trading Profit and Loss Account for the year ended 31 December 2002

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