Molly Coddle Ltd's trial balance at 30 April 2004 was as follows.

Further information 

1. Stock at 30 April 2004 was valued at $31 000. 

2. Depreciation for the year is to be provided as follows. Warehouse machinery $8000; office machinery $10 000 

3. $10 000 is to be transferred to the General Reserve. 

4. Provision is to be made for the payment of dividends as follows. 

Preference dividend $600; ordinary shares $3750 

Required 

(a) Prepare Molly Coddle Ltd's Profit and Loss Account for the year ended 30 April 2004. 

(b) Prepare the Balance Sheet at 30 April 2004.

Transcribed Image Text:

Turnover Stock at 1 May 2003 Purchases Sales office salaries Selling expenses General office wages Other general expenses Warehouse machinery at cost Provision for depreciation of warehouse machinery Office machinery at cost Provision for depreciation of office machinery Trade debtors Balance at bank $ 20 000 113 000 57 000 39 000 32 000 35 000 70 000 42 000 38 000 28 000 $ 300 000 30 000 20 000