12.4A The trial balance of Jeremina plc as at 31 March 20X2 is as follows: Preference share capital: 50p shares Ordinary share capital: 1 shares General reserve Exchange reserve Profit and loss as on 31 March 20X1 Stock 31 March 20X1 Sales Returns inwards Purchases Carriage inwards Wages (putting goods into a saleable condition) Wages: Warehouse staff Wages and salaries: Sales staff Wages and salaries: Administrative staff Motor expenses (see note (1)) General distribution expenses General administrative expenses Debenture interest Royalties receivable Directors' remuneration Bad debts Discounts allowed Discounts received Plant and machinery at cost (see note (III)) Provision for depreciation: Plant and machinery (see note (iv)) Motor vehicles at cost (see note (ii)) Provision for depreciation: Motors (see note (iv)) Goodwill Development costs Trade debtors Trade creditors Bank overdraft (repayable on demand) Bills of exchange payable (all due within 1 year) Debentures (redeemable in 3 years' time) Preference dividend Ordinary dividend Notes: (ii) (iii) (iv) Dr 184,000 34,000 620,000 6,000 104,000 40,000 67,000 59,000 29,000 17,000 12,000 2,000 84,000 10,000 14,000 240,000 120,000 200,000 24,000 188,000 12,000 40,000 2,106,000 Cr 200,000 300,000 25,000 15,000 21,000 1,320,000 5,000 11,000 72,000 48,000 45,000 7,000 7,000 30,000 2,106,000 Stock of finished goods on 31 March 20X2 163,000. Motor expenses and depreciation on motors to be apportioned: Distribution 4, Adminis- trative /s. Plant and machinery depreciation to be apportioned: Cost of sales 7/10, Distribution , Adminis- trative //10. Depreciate the following fixed assets on cost: Motor vehicles 20 per cent, Plant and machinery 15 per cent. Accrue corporation tax on profits of the year 38,000. This is payable on 31 December 20X2. You are to draw up: (a) a detailed trading and profit and loss account for the year ended 31 March 20X2 for internal use, and (b) a profit and loss account for publication, also a balance sheet as at 31 March 20X2.