Southern Store Ltd. is a retail store operating two departments. The company maintains a Memorandum Stock Account and Memorandum Mark-up Account for each of the departments.

Supplies issued to the departments are debited to the Memorandum Stock Account of the department at cost plus the mark-up, and departmental sales are credited to this account. The mark-up on supplies issued to the departments is credited to the mark-up account for the department.

When it is necessary to reduce the selling price below the normal selling price, i.e., cost plus mark-up, the reduction (mark-down) is entered in the Memorandum Stock Account and in the mark-up account. Department Y has a mark-up of 331/3% on cost and Department Z 50% on cost.

Following information has been extracted from the records of Southern Store Ltd. for the year ended 31st December, 2014 (all figures in ~) :

Particulars	Dept. Y	Dept. Z
Stock (1.1.2014) at cost	24,000	36,000
Purchases	1,62,000	1,90,000
Sales	2,10,000	2,85,000

1. The stock of Department Y at 1st January 2014 includes goods on which the selling price has been marked down by ~ 510. These goods were sold in January 2014 at the reduced price.

2. Certain goods purchased in 2014 for ~ 2,700 for department Y, were transferred during the year to department Z, and sold for ~ 4,050. Purchase and sale are recorded in the purchases of department Y and the sales of department Z respectively, but no entries in respect of the transfer have been made.

3. Goods purcahsed in 2014 were marked down as follows: Dept. Y Dept. Z

Cost	8,000	21,000
Mark down	800	4,100

At the end of the year there were some items in the stock of department Z, which had been marked down to

~ 2,300. With this exception, all goods marked down in 2014 were sold during the year at the reduced prices.

4. During stock taking at 31st December 2014 goods which had cost ~ 240 were found to be missing in department

Y. It was determined that the loss should be regarded as irrecoverable.

5. The closing stock in both departments are to be valued at cost for the purpose of the annual accounts. You are required to prepare for each department for the year ended 31st December 2014:

(a) a Trading Account; (b) a Memorandum Stock Account; and (c) a Memorandum Mark-up Account.