The bookkeeper of Mark Manufacturing provides you with the following trial balance and information.
Trial balance as at 31 December 2016 |
||
RM |
RM |
|
Purchases of raw materials |
320,000 |
|
Fuel and light |
31,000 |
|
Administration salaries |
22,000 |
|
Factory wages |
40,000 |
|
Carriage outwards for finished goods |
3,000 |
|
Rent and business rates |
24,000 |
|
Sales |
450,000 |
|
Returns inward |
5,000 |
|
General office expenses |
8,000 |
|
Repairs to plant and machinery |
5,000 |
|
Inventory at 1 January 2016:
|
25,000 13,000 25,000 |
|
Sundry accounts payable |
32,000 |
|
Capital |
612,000 |
|
Freehold premises |
450,000 |
|
Plant and machinery |
90,000 |
|
Accounts receivable |
30,000 |
|
Accumulated depreciation on plant and machinery |
12,000 |
|
Cash in hand |
15,000 |
|
1,106,000 |
1,106,000 |
Additional information:
RM |
|
Raw materials |
30,000 |
Work –in-progress |
10,000 |
Finished goods |
36,000 |
Required:
Prepare the Manufacturing Account and
Income Statement for the year
ended 31 December 2016.
The bookkeeper of Mark Manufacturing provides you with the following trial balance and information. Trial balance...
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The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
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The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Factory supervision Factory supplies used Factory utilities Inventories Raw materials, December 31, 2016 Raw materials, December 31, 2017 Work in process, December 31, 2016 Work in process, December 31, 2017 Finished goods, December 31, 2016 Finished goods, December 31, 2017 $ 27,000 Direct labor 8,700 Income taxes expense...
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The following calendar year-end information is taken from the December 31, 2017, adjusted trial balance and other records of Leone Company. Advertising expense $31,000 Direct labor $684,800 Depreciation expense—Office equipment 10,900 Income taxes expense 239,200 Depreciation expense—Selling equipment 10,000 Indirect labor 55,600 Depreciation expense—Factory equipment 33,600 Miscellaneous production costs 9,700 Factory supervision 140,300 Office salaries expense 74,000 Factory supplies used 7,600 Raw materials purchases 997,000 Factory utilities 41,000 Rent expense—Office space 25,000 Inventories Rent expense—Selling space 25,700 Raw materials, December...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...
The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...