7500 The following trial was extracted from the boiler amanunt and trading company, on 31 December 2000 Gall the figures are sho Sh 100 Sa 000 Ordinary Share Capital of 10 wach 13 10% probare capital hach 12.IXO Opening Hock of raw materiale 1778 Openingsbek of work in progress 1. Carriage wandelwale Shan premium 7.296 Purchases of raw material 17.03 Retained profit balance at 1- lan 2020 1.172 Return inward 144 Factory building 100 Plant and machinery Office furniture and equipment 4.500 Delivery van 2.000 Bad debt witten off 103 Direct was foto) 6.75 Administrative experien 1.90 Opening stock of finished ads Factory overhead 191 Accusewivales and all 12.000 7.123 Cash in hand and atlank 27 10. Corporate Bands 7200 Rent income Selling and distribution 710 Director allowance Aliwato ha de Die www 302 Factory power and lighting 494 | Interest paid an eerparte haites MSN SEN Additional information: a) Outstanding expenses Direct factory wages Kshs. 115,000 vltice administrative expenses Kah 29,00 by Prepaid expenses reling experter Kahn 39,00 factory power and lighting Kah34.000 Interest on 10% cutstanding should be acred 4) Hent income amounting to show have not been mod 300 Man and machinery and delivery van should be depreciated by 2 and fumiture and quipment and factory building by 10% The factory building to rewed for ottice administrative is 35% Adjust allowancese bad debe des Cinak finished prodi is valued at Kaha 14.00, w material 2,300 and work in Kah 1.3.4. Gads are travered to the factory to trading department at cost Corporate experwer estimated at Ksh 26 milli k) Directors are proposing dividends to preference shareholders and ordinary shareholders at Kah 15 pet shares Required a Manufacturing Statement of prodit and of the year ended Dec 220 Statement of changes inuity d) Statement of Financial losition ) The following tegarkes of ratio Trofitability Liquidity ratio hi Efficiency ratio Geanego Shaders ralio market priceprimary shah 18 Introduction to Accounting 2 Assignment 2 The following trial balance was extracted from the books of Gilber Lid, a manufacturing and trading company, on 31 December 2020 (all the figures are in sh"000) Sh 000 Sh 000 Ordinary Share Capital of sh 10 each 13,000 10% preference share capital sh 25 each 12.000 Opening stock of raw materials 1.778 Opening stock of work in progress 1.360 Carriage inward of raw materials 394 Share premiums 1.296 Purchases of raw material 27,094 Sales 42.976 Retained profit balance at 1 Jan 2020 1.172 Return inward 144 Factory building 10,000 Plant and machinery 7,500 Office furniture and equipment 4,500 Delivery van 2,000 Bad debts written off 162 Direct wages (factory) Administrative expenses 1992 Opening stock of finished goods 9,876 Factory overheads Accounts receivables and payable 12.000 7,322 Cash in hand and at bank 276 10% Corporate Bonds 7.200 Rent income Selling and distribution expenses 710 Director allowances 872 Allowances for bad debts 450 Discount received 242 Factory power and lighting Interest paid on corporate bonds SS SS S8488 Additional information: a) Outstanding expenses: Direct factory wages Kshs. 115,000, office administrative expenses Kshs. 29,000 b) Prepaid expenses selling expenses Kshs. 39,000; factory power and lighting Kshs. 31,000. c) Interest on 10% outstanding should be accrued d) Rent income amounting to Ksh 48,000 have not been received. 6.785 191 2.800 494 360 e) Plant and machinery and delivery van should be depreciated by 20% and fumiture and equipment and factory building by 10%. h) The factory building floor area used for office administrative is 35% g) Adjust allowances for bad debts to 5% of debtors. h) Closing stock finished goods is valued at Kshs. 14,566,000, raw materials is Ksh 2,380,000 and work in progress is Ksh 1,350,000 i) Goods are transferred from the factory to trading department at cost. 1) Corporate tax expensed is estimated at Ksh 2.6 million k) Directors are proposing dividends to preference shareholders and ordinary shareholders at Ksh 1.5 per shares. Required: a) Manufacturing account b) Statement of profit and loss for the year ended 31 Dec 2020 c) Statement of changes in equity. d) Statement of Financial Position The following categories of ratio f) Profitability ratios Liquidity ratio h) Efficiency ratio i) Gearing ratio 1) Shareholders ratio (market price per ordinary shares is Ksh 18)