You are given the following selected balances of Federal plc as at 31 December 19X4. From them draw up (i) a trading and profit and loss account for the year ended 31 December 19X4 for internal use and (ii) a profit and loss account for publication.

(a) The production department puts goods bought into a saleable condition.

(b) Stock at 31 December \(19 \mathrm{X} 4 £ 82,800\).

(c) Apportion Motor expenses: Distribution \(2 / 3\), Administrative \(1 / 3\).

(d) Apportion Rent and rates: Distribution 80 per cent, Administrative 20 per cent,

(e) Write \(£ 14,000\) off the value of investments in undertakings in which the company has a participating interest.

(f) Depreciate Motor vehicles 20 per cent on cost, Plant and machinery 10 per cent on cost.
(g) Accrue auditors' remuneration \(£ 2,000\).

(b) Accrue corporation tax on ordinary activity profits \(£ 74,000\).
(i) A sum of \(£ 20,000\) is to be transferred to debenture redemption reserve.
(j) An ordinary dividend of \(£ 50,000\) is to be proposed.

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Stock 1 January 19X4 Sales Purchases Carriage inwards Returns inwards Returns outwards Discounts allowed 64,500 849,000 510,600 4,900 5,800 3,300 5,780 Discounts received 6,800 Wages (putting goods into saleable condition) 11,350 Salaries and wages: Sales and distribution staff 29,110 Salaries and wages: Administrative staff 20,920 Motor expenses (see note (c)) 15,600 Rent and rates (see note (d)) 25,000 Investments in undertakings in which the company has a participating interest (market value 66,000) 80,000 Income from shares in undertakings in which the company has a participating interest 3,500 General distribution expenses 8,220 General administrative expenses 2,190 Bad debts Interest from government securities 840 1,600 Haulage costs: Distribution 2,070 Debenture interest payable 3,800 Profit and loss account: 31 December 19X3 37,470 Motor vehicles at cost: Distribution and sales Administrative Plant and machinery at cost: Distribution and sales 35,000 80,000 75,000