At $31$st March, $2023,$ AB Ltd$,$ had an Authorized Capital of K$\mathrm{ 3}5,000$ divided into $10,0007\mathrm{.}5\%$ noncumulative  per share being due on $30$th June, $1964.$ 

 per share paid, the remaining K$\mathrm{ 0}\mathrm{.}12\mathrm{5 }$reference shares of K$1$ each of which $5,000$ Shares have been issued and fully paid and $50,000$ Ordinary shares of K$0\mathrm{.}50$ each, of which $48,000$ had been issued and  K$0\mathrm{.}375$ per share paid, the remaining K$0\mathrm{.}125$ per share being due on $30$th June $2023.$ 

In addition to any balances arising from the foregoing, the private ledger contained balances at $31$st march,2023 as follows:

 

                                                                                            K 

 Stock on Hand at $1$st April, $2022\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 1}4,200$ 

 Cash in Hand                                                                     $50$ 

 Bank Overdraft $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 4},060$ 

 Purchases of materials                                             $67,280$ 

 Sales                                                                             $97,650$ 

 Returns from customers $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 4}20$ 

 Returns to Suppliers                                                      $240$ 

 Productive Wages                                                        $16,750$ 

 Net Cost of Tools used                                                    $476$ 

 Office Salaries                                                                $2,270$ 

 Sales Transport Costs $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 1},320$ 

 Rent Rates                                                                     $486$ 

 Insurance $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 4}80$ 

 General Expenses $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 2}86$ 

 Cash Discount Allowed $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 3}60$ 

 Cash Discounts Received $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 2}40$  

 Bad Debts Provision $!$st April, $2022\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 2}20$  

 Interest on Bank Overdraft $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 1}60$ 

 Freehold Land and Buildings, at Cost                       $10,500$ 

 Machinery at Cost                                                        $16,350$ 

 Trade Debtors                                                                $6,748$ 

 Trade Creditors $\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 6},723$ 

 Goodwill at Cost                                                            $4,600$ 

 Accumulated provision for Depreciation

 of Machinery to $1$st April, $2022 \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 750$ 

 Loan to a Director                                                       $2,600$ 

 Directors Remuneration                                             $4,750$ 

 Undistributed Profits at $31$st March, $202\mathrm{2\; \; \; \; \; \; \; }12,500$ 

 Reserve of Capital Profits                                          $6,000$ 

 Preference Dividend for half year to 

$30$th September, $2023($less tax$)\mathrm{ \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; \; 2},297$ 

 

REQUIRED:

 

 Prepare a Trading and Profit and Loss Account for the year to $31$st March $2023,$ and a Balance Sheet at  

 

 that date after taking into account the following:$-$ 

 

 $(1)$ A reserve for future taxation of K$\mathrm{ 1},700.$ 

 

 $(2)$ The dividend due on the preference shares for the half year to $31$st March, $2023$ 

 

 $(3)$ Additional depreciation of machinery of K $500.$ 

 

 $(4)$ A total provision for Bad Debts of K $420.$ 

 

 $(5)$ Insurance paid in advance of K$\mathrm{ 6}0.$ 

 

 $(6)$ Stock of Materials and Finished Goods at $31$st March, $2023$ K$\mathrm{ 1}5620$