following Trial Balance was prepared from the books of Maxwell Productions Ltd on December 31, 2010 and presented to you the Financial Accountant for analysis: (CLO 3) Trial Balance Details/Accounts Dr $ Cr $ Insurance 1,200,000 Direct expenses 4,000,000 Bills payable 150,000 Net sales 80,000,000 Office furniture and fittings 4,500,000 Accumulated depreciation on furniture & fittings 900,000 Return outwards of direct raw materials 330,000 Rent 3,000,000 500,000 Bank overdraft 550,000 Direct raw materials purchased 20,330,000 Indirect factory wages 4,000,000 Stock of direct raw materials January 1, 2010 6,500,000 Stationery 1,100,000 Provision for unrealized profit 600,000 Capital 28,940,000 Bad debts 370,000 Provision for bad and doubtful debts 400,000 Production workers salaries 12,000,000 Cash in hand 1,500,000 Accounts payable 5,600,000 Electricity 2,400,000 Commission 4,800,000 1,000,000 Stock of finished goods January 1, 2010 6,600,000 Discounts 800,000 750,000 Carriage inwards of direct raw materials 1,600,000 Administrative salaries 8,400,000 Accounts receivable 9,000,000 Motor vehicles 20,000,000 Provision for depreciation on motor vehicles 8,000,000 Work in progress, January 1, 2010 3,500,000 Bills receivable 420,000 Plant and machinery 15,000,000 Accumulated depreciation on plant and machinery 6,000,000 Motor vehicles repair cost 700,000 Cash drawings 2,000,000 133,720,000 133,

following Trial Balance was prepared from the books of Maxwell Productions Ltd on December 31, 2010 and presented to you the Financial Accountant for analysis: (CLO 3) Trial Balance Details/Accounts Dr $ Cr $ Insurance 1,200,000 Direct expenses 4,000,000 Bills payable 150,000 Net sales 80,000,000 Office furniture and fittings 4,500,000 Accumulated depreciation on furniture & fittings 900,000 Return outwards of direct raw materials 330,000 Rent 3,000,000 500,000 Bank overdraft 550,000 Direct raw materials purchased 20,330,000 Indirect factory wages 4,000,000 Stock of direct raw materials January 1, 2010 6,500,000 Stationery 1,100,000 Provision for unrealized profit 600,000 Capital 28,940,000 Bad debts 370,000 Provision for bad and doubtful debts 400,000 Production workers salaries 12,000,000 Cash in hand 1,500,000 Accounts payable 5,600,000 Electricity 2,400,000 Commission 4,800,000 1,000,000 Stock of finished goods January 1, 2010 6,600,000 Discounts 800,000 750,000 Carriage inwards of direct raw materials 1,600,000 Administrative salaries 8,400,000 Accounts receivable 9,000,000 Motor vehicles 20,000,000 Provision for depreciation on motor vehicles 8,000,000 Work in progress, January 1, 2010 3,500,000 Bills receivable 420,000 Plant and machinery 15,000,000 Accumulated depreciation on plant and machinery 6,000,000 Motor vehicles repair cost 700,000 Cash drawings 2,000,000 133,720,000 133,