From the following selected balances of Filo plc as at 31 March 2005 draw up (i) a detailed trading and profit and loss account for internal use, and (i) a profit and loss account for publication.

(a) Stock at 31 March 2005 £208,000.

(b) Wages and salaries are to be apportioned: Distribution costs '/4, Administrative expenses °/s.

(c) Rent and business rates are to be apportioned: Distribution costs 60 per cent, Administrative expenses 40 per cent.

(d) Apportion motor expenses in the proportions 2:3 between distribution costs and administrative expenses.

(e) Depreciate motor vehicles 25 per cent and equipment 20 per cent on cost.

(f) Accrue auditors’ remuneration of £16,000.
(g) Accrue corporation tax for the year on ordinary activity profits £489,000.
(h) A sum of £30,000 is to be transferred to general reserve.

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Sales Returns inwards * Returns outwards Carriage inwards Wages and salaries (see Note (b)) Rent and business rates (see Note (c)) General distribution expenses General administrative expenses Discounts allowed Bad debts Profit and loss account as at 31 March 2004 Stock 1 April 2004 Purchases 210,000 160,000 2,920,000 4,960,000 214,000 70,000 26,000 270,000 25,000 54,000 42,000 68,000 9,000 Debenture interest 18,000 Motor expenses (see Note (d)) 15,000 Interest received on bank deposit 8,000 Income from shares in undertakings in which the company has a participating interest Motor vehicles at cost: Administrative 6,000 90,000 Distribution 140,000 Equipment at cost: Administrative 30,000 Distribution 24,000 Royalties receivable 5,000 Dividends paid 240,000