The following balances were obtained from the books of The Hartland Ltd as at December 31, 2015: DETAILS DR CR Premises 800,000 10% Mortgage 250,000 Retained earnings Goodwill Debtors Creditors 40.000 100,000 110,000 65,000 General reserves 30,000 Management fees 30.000 Ordinary shares $0.50 200.000 5% Preference shares a $1 200,000 Share premium 50,000 Motor vehicle 80.000 Prov. for depreciation on motor vehicle 12,000 10% Debenture 120,000 Mortgage interest 7,000 Debenture interest 5,000 Cost of sales 750,000 Closing stock 80.000 Insurance 20.000 Wages &salanes 60 000 Interim ordinary shares dividend 2.000 Bank Sales Commission received 53,000 1.100.000 1,000 2,084,000 2.084.000 Notes: a. Provide for depreciation on motor vehicle at 506 on the reducing balance b. Insurance is prepaid by $4,000 while wages and salaries is owing by $20,000 c. The goodwill should be written down by 2536 d. Transfer $25,000 from profits to the general reserves e. Corporation tax is estimated at $30,000 f. The following items of expense should be apportioned: Iisustice Wages & salaries Management fees Depreciation clearges Sell & Dist 501% 30 20% 50% g. Prior to the end of the year the directors approved the following preference share dividends is to be accounted for in full a new issue of 100.000 ordinary shares with par of $0.50 per share; amount collected was $75,000