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tra lech, a phone accessories manufacturer, has presented you with the following financial information for the y ending March 31, 2023: Office salaries Provision for unrealised profits Debtors Purchases of other finished goods 54,300 107,150 82,450 8,100

tra lech, a phone accessories manufacturer, has presented you with the following financial information for the y ending March 31, 2023: Office salaries Provision for unrealised profits Debtors Purchases of other finished goods 54,300 107,150 82,450 8,100

FINANCIAL ACCOUNTING
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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make the manufacturing account and statement of profit or loss Do not give solution in image format
Direct expenses Commission received Return inwards Additional information: W . . Work in progress Finished goods Stock on hand at the end of the year was as follows: Show Transcribed Text 15,500 41,000 Building Factory machinery Expenses are to be apportioned as follows: 87,500 13,500 1,879,080 Adjustments are to be made to the following items of expenses and revenue: Electricity Prepaid by 8,000 Commission Owing by 7,200 Fixed assets are to be depreciated as follows: 10% straight line 8% reducing balance Electricity Depreciation - building Expenses are to be apportioned as follows: 39,700 Factory 65% 80% 1,879,080 Office 35% 20% The goods produced are to be marked up by 15% before transfer Round all decimals (if any) to the nearest whole number REQUIRED: Prepare the entity's manufacturing account and statement of profit or loss.
Transcribed Image Text:Direct expenses Commission received Return inwards Additional information: W . . Work in progress Finished goods Stock on hand at the end of the year was as follows: Show Transcribed Text 15,500 41,000 Building Factory machinery Expenses are to be apportioned as follows: 87,500 13,500 1,879,080 Adjustments are to be made to the following items of expenses and revenue: Electricity Prepaid by 8,000 Commission Owing by 7,200 Fixed assets are to be depreciated as follows: 10% straight line 8% reducing balance Electricity Depreciation - building Expenses are to be apportioned as follows: 39,700 Factory 65% 80% 1,879,080 Office 35% 20% The goods produced are to be marked up by 15% before transfer Round all decimals (if any) to the nearest whole number REQUIRED: Prepare the entity's manufacturing account and statement of profit or loss.
Intra lech, a phone accessories manufacturer, has presented you with the following financial information for the year ending March 31, 2023: Office salaries Provision for unrealised profits Debtors Purchases of other finished goods Creditors Building Factory machinery Provision for depreciation: Building Factory machinery Loan Bank Opening stock of work in progress Opening stock of finished goods Capital Drawings Electricity Sales Direct materials 54,300 107,150 82,450 936,000 218,000 54,200 33,300 33,400 22,600 236,680 8,100 89,900 225,000 106,000 134,800 22,380 198,000 1,055,200
Transcribed Image Text:Intra lech, a phone accessories manufacturer, has presented you with the following financial information for the year ending March 31, 2023: Office salaries Provision for unrealised profits Debtors Purchases of other finished goods Creditors Building Factory machinery Provision for depreciation: Building Factory machinery Loan Bank Opening stock of work in progress Opening stock of finished goods Capital Drawings Electricity Sales Direct materials 54,300 107,150 82,450 936,000 218,000 54,200 33,300 33,400 22,600 236,680 8,100 89,900 225,000 106,000 134,800 22,380 198,000 1,055,200
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