QUESTION TIVO Karl Peter and M. Kadogo are in partnership as manufactures of Tick Toys, Peter being responsible for the factory and Kadogo for the sales All completed toys are transferred from the factory to sales department at agreed price. Profits are shared on the following basis: Factory Sales Department Peter 80% 40% Kadogo 20% 60% The following trial balance has been extracted from the books at 31 March 2021: Freehold factory at cost Factory plant, at cost Provision for depreciation 1 April 2020 Delivery van, at cost Provision for depreciation 1 April 2020 Stocks at 1 April 2020 Raw materials Waris-in-progress Toys completed (30,000 at Sh.40) Sh. Sh 1.053,75 0 843,750 151.250 401,250 86,250 100,700 35,000 1.200,00 0 Sales (45,500 toys 12.775,50 0 916,250 375.500 150.750 Purchases of raw materials Factory wages Sales department wages Expenses Factory Sales Department Provision for doubtful debt: 1. April 2020 Trade debtors and creditors Bank overdran Capital accounts Pats 301.750 230,300 450.000 40,000 150.000 176200 140 Capital accounts: Peter 1,400,00 0 | 1,425,00 0 Kadogo Drawings: Peter Kadogo 150,000 125,000 6,204,20 6,204,20 0 0 Additional information: 38.000 toys at Sh.45 each were manufactured and transferred to Sales Department during the year. Toys in stock at the end of the year were to be valued at Sh. 45 each Stock of raw materials was Sh 79.50 and work-in-progress was valued at prime cost of Sh 126, 250 at 31 March 2021. Accrued expenses outstanding at 31 March 2021 Factory Sales Departmen Sh. 52250 Expenses Factory wages Sb. 27000 7.000 Provision for depreciation is to be made as follows: Factory plant 10% p.a. on cost Delivery van 20% p.a. on cout The general provision for bad debts is to be maintained at 10% of the trade debtors Required (1) Manufacturing account, statement of profit or loss and appropriation accounts for the year ended 31 March 2021 Statement of financial position as at that date (6 marka QUESTION THREE