The following Trial Balance was extracted from the books of Green Manufacturing Enterprise on December 31, 2020:

Details/Accounts	Dr $	Cr $
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 returns		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:

1. On December 31, 2020 rent owing was $24,000 while $12,000 was paid for insurancethat related to January 2021.
2. 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.
3. 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.
4. The motor vehicles are used seventy-five percent (75%) of the time by the factory.
5. The company adds a 20% mark up to its cost of production.

See requirements on next page.

Required:

1. Prepare a Manufacturing, Trading and Profit and Loss Account for the period ending December 31,2020. (32 marks)

2. 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)

1. Machinery. (3 marks)
2. Motor vehicles. (3 marks)
3. Finished goods. (2 marks)