SECTION A-COMPULSORY OKO ETA The time wheben Mag Dhe Pra Mimi. Tato te puede Dec 12 2 two books of the forest Dec 31,00 DO NOT PREPARE A BALANCE SHEET JUST SHOW WORKINGS WHERE NECESSARY) Mary ( More mark (shed mark 01 AS 1,200,000 wy101 300,000 MY 800.000 ten SO 000 4 000000 Car 140.000 DOM 1,026000 12.000.000 Cul ER 1,000,000 300,000 Pinstant de 1410000 P 2800.000 actory 1000 Dame 140000 PER word 340 000 Dund 020 1.500.000 430,000 M E2400,000 wash 00 Teal 2 10.01 Additional Deceb 22:24,00 32.000 for do 2021 Come Dec 11, 2020 0.00 0.00 1,000,000 we will Cowy 1 of meerde 101 cin TE Martie The colo Seguir Focus ch D The following Trial Balance was extracted from the books of Green Manufacturing Enterprize on December 31, 2020 Details/Accounts Dr $ C$ Accounts receivables 1,200,000 Work-in-progress, January 1, 2020 360,000 Machinery 1,800,000 Provision for depreciation machinery 600,000 Direct expenses 480,000 Furniture & fittings 600,000 Cash 1.440,000 Direct wages 1,920,000 Sales net of retums 12,600,000 Capital 5,160,000 Rent 1,000,000 Insurance 800,000 Finished goods, January 1, 2020 1,440,000 Purchases of direct raw materials 2,400,000 Factory expenses 2,160,000 Drawings 240.000 Provision for unrealized profit 240,000 Direct raw materials, January 1, 2020 1,560,000 Accounts payable 480,000 Motor vehicles 2,400,000 Accumulated depreciation motor vehicles 720.000 Total 19.800.000 19.800.000 Additional information: On December 31, 2020 rent owing was $24,000 while $12,000 was paid for insurancethat related to January 2021 Closing inventories on December 31, 2020 were as follows: Direct raw materials of$ 1.080.000. work-in-progress of $480,000 and finished goods of $1.800.000, O w (1) Depreciation is to be provided for as follows: furniture and fittings at 5% of cost,plantand machinery at 10% of cost and motor vehicles at 10% on the reducing balance (iv) The motor vehicles are used seventy-five percent (75%) of the time by the factory U) The company adds a 20% mark up to its cost of production See requirements on next page. Page 3 of 13 ID# 20202677 Required: (@) Prepare a Manufacturing, Trading and Profit and Loss Account for the period ending December 31,2020. (32 marks) (b) Show the net book values of the following items as they would appear in the Balance Sheet on December 31, 2020: (DO NOT PREPARE A BALANCE SHEET JUST SHOW WORKINGS WHERE NECESSARY) @ Machinery (3 marks) Motor vehicles (3 marks Required: (@) Prepare a Manufacturing, Trading and Profit and Loss Account for the period ending December 31, 2020 (32 marks) (b) Show the net book values of the following items as they would appear in the Balance Sheet on December 31, 2020: (DO NOT PREPARE A BALANCE SHEET JUST SHOW WORKINGS WHERE NECESSARY) () Machinery (3 marks) (11) Motor vehicles (3 marks) (ELL) Finished goods. (2 marks) SECTION A-COMPULSORY OKO ETA The time wheben Mag Dhe Pra Mimi. Tato te puede Dec 12 2 two books of the forest Dec 31,00 DO NOT PREPARE A BALANCE SHEET JUST SHOW WORKINGS WHERE NECESSARY) Mary ( More mark (shed mark 01 AS 1,200,000 wy101 300,000 MY 800.000 ten SO 000 4 000000 Car 140.000 DOM 1,026000 12.000.000 Cul ER 1,000,000 300,000 Pinstant de 1410000 P 2800.000 actory 1000 Dame 140000 PER word 340 000 Dund 020 1.500.000 430,000 M E2400,000 wash 00 Teal 2 10.01 Additional Deceb 22:24,00 32.000 for do 2021 Come Dec 11, 2020 0.00 0.00 1,000,000 we will Cowy 1 of meerde 101 cin TE Martie The colo Seguir Focus ch D The following Trial Balance was extracted from the books of Green Manufacturing Enterprize on December 31, 2020 Details/Accounts Dr $ C$ Accounts receivables 1,200,000 Work-in-progress, January 1, 2020 360,000 Machinery 1,800,000 Provision for depreciation machinery 600,000 Direct expenses 480,000 Furniture & fittings 600,000 Cash 1.440,000 Direct wages 1,920,000 Sales net of retums 12,600,000 Capital 5,160,000 Rent 1,000,000 Insurance 800,000 Finished goods, January 1, 2020 1,440,000 Purchases of direct raw materials 2,400,000 Factory expenses 2,160,000 Drawings 240.000 Provision for unrealized profit 240,000 Direct raw materials, January 1, 2020 1,560,000 Accounts payable 480,000 Motor vehicles 2,400,000 Accumulated depreciation motor vehicles 720.000 Total 19.800.000 19.800.000 Additional information: On December 31, 2020 rent owing was $24,000 while $12,000 was paid for insurancethat related to January 2021 Closing inventories on December 31, 2020 were as follows: Direct raw materials of$ 1.080.000. work-in-progress of $480,000 and finished goods of $1.800.000, O w (1) Depreciation is to be provided for as follows: furniture and fittings at 5% of cost,plantand machinery at 10% of cost and motor vehicles at 10% on the reducing balance (iv) The motor vehicles are used seventy-five percent (75%) of the time by the factory U) The company adds a 20% mark up to its cost of production See requirements on next page. Page 3 of 13 ID# 20202677 Required: (@) Prepare a Manufacturing, Trading and Profit and Loss Account for the period ending December 31,2020. (32 marks) (b) Show the net book values of the following items as they would appear in the Balance Sheet on December 31, 2020: (DO NOT PREPARE A BALANCE SHEET JUST SHOW WORKINGS WHERE NECESSARY) @ Machinery (3 marks) Motor vehicles (3 marks Required: (@) Prepare a Manufacturing, Trading and Profit and Loss Account for the period ending December 31, 2020 (32 marks) (b) Show the net book values of the following items as they would appear in the Balance Sheet on December 31, 2020: (DO NOT PREPARE A BALANCE SHEET JUST SHOW WORKINGS WHERE NECESSARY) () Machinery (3 marks) (11) Motor vehicles (3 marks) (ELL) Finished goods. (2 marks)