Prepare the manufacturing for the year

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Problem 1: Prepare the manufacturing for the year ended 31 December 2016.

Problem 2: Prepare the income statement for the year ended 31 December 2016.

 

ILK

LM

Purchases of raw materials

320,000

 

Fuel and light

31.000

 

Administration salaries

22,000

 

Factory direct wages

40,000

 

Carriage outwends for finished goods

3.000

 

Rent and business rates

24,000

 

 

 

450.000

Returns inwend

   
   

5,000

 

General office expenses

6.000

 

Reppin to plant and machinery

5.000

 

Inventory at 1 January 2013:
Row materials, Work-in-progress, Finished goods

 

25,000 13,000 25 000

 

Sundry Accounts payable

 

32,000

 

 

62.000

Freehold premises

450,000

 

Plant and machinery

90,000

 

Accounts receivable

30,000

 

Accumulated depreciation on plant and

 

12,000

Cash in hand

15000

 

 

1,105,000

1106000

 

Reference no: EM132459350

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