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G13 Accounting Test - Google Drive

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38 views1 page

G13 Accounting Test - Google Drive

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Oly
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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21st November, 2024

G13 Accounting Test 2. /30pts

The financial year of Doshi Manufacturing Company ends on 31 January.


The following trial balance was extracted from the books on 31 January 2017.
sh sh
Inventory 1 February 2016
raw materials 49,500
work in progress 28,750
finished goods 63,100
Revenue 1,246,850
Returns inwards 12,250
Purchases:
raw materials 394,600
finished goods 21,700
Returns of purchases of raw materials 16,400
Carriage inward on purchases finished 1,500
Wages:
factory operatives 297,100
factory supervisors 152,000
office and sales staff 108,700
General expenses 160,000
Premises at cost 366,000
Factory machinery at cost 250,000
Office equiment at cost 72,000
Provision for depreciation 1 Febr 2016:
factory machinery 122,000
office equipment 32,400
Capital 1 February 2016 630,000
Drawings 96,750
Trade receivables 76,150
Trade payables 41,500
Interest free short term loan 50,000
Bankoverdraft 32,100
2,171,250 2,171,250

The following additional information is available


1. At 31 January 2017
inventory: raw materials sh 41,100
WIP sh31,250
finished goods sh 59,100
wages accruals:
factory supervisors sh 12,000
office staff sh 4,300
2. The factory machinery is being depreciated at 20% per annum on the straight line method
3. the office equipment to be depreciated at 15% per annum straight line method
4. The general expenses are to be apportioned 3/5 to the factory and 2/5 to the office

RQD: 1. Prepare the manufacturing account for the year ended 31 January 2017 /15pts
2. Prepare the income statement as 31 January 2017 /15pts

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