L.6 - Question 1 The following is the trial balance extracted from the books of Intercomp Enterprise, a small manufacturer, as at 31.12.2018. Debit Credit RM RM 250,000 Capital Sales 980,000 Inventory as at 1.1.2015 -Raw materials 25,840 - Work in process 31,975 - Finished goods 111,435 Purchase of raw materials 450,000 Factory wages 120,000 Indirect manufacturing wages 68,130 Office salaries 55,000 Manufacturing direct expenses 17,000 Electricity 80,300 Machinery at cost 240,000 Accumulated depreciation for machinery 80,400 Fixtures and fittings at cost 45,400 Accumulated depreciation for fixtures and fittings 16,400 Bank 16.300 Repair of machinery 8,420 Account receivable and account payables 195,500 138,500 1,465,300 1,465,300 Additional information: 1) Inventory at 31 December 2018 Raw materials 27.230 Work in process 30,985 Finished goods 112,467 2) Depreciation of 20% is to be provided on machinery using the reducing balance method and 10% on fixtures and fittings using the straight line method. 3) Accrued electricity amounted to RM240 4) Electricity expense is allocated to manufacturing 80% and administration 20%. 5) Accrued advertising expenses amounted to RM1,000 and sales commission was owing at RM8,000. Required: Prepare the following for the year ended 31.12.2018 a) Manufacturing account b) Statement profit and loss c) Statement of financial position