The trial balance of JackDannie, a manufacturer, as at 30 June year 7 was as follows:

Additional information:
i Inventories at 30 June year 7 were:

ii Machinery is to be depreciated at 10 per cent per annum on a straight-line basis.

iii Ignore taxation.

You are required to prepare the manufacturing account and income statement for JackDannie for the year ended 30 June year 7, and a statement of financial position as at that date.

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Debit Credit 000 000 Administrative expenses 420 Bank Capital Direct wages 300 370 270 Direct materials: inventory as at 1 July year 6 64 Distribution costs 320 Factory electricity 11 Factory rent 76 Indirect manufacturing wages 90 Finished goods: inventory as at 1 July year 6 70 General factory expenses 12 Machinery Payables 140 66 Provision for depreciation on machinery as at 1 July year 6 40 Purchases of direct materials 390 Receivables 420 Repairs to machinery 8 Sales 2,200 Work in progress: inventory as at 1 July year 6 85 2,676 2,676