From the following information, prepare the manufacturing, trading and profit and loss account for the year ending 31 December 20X6 and the balance sheet as at 31 December 20X6 for the firm of J Jones Limited.

Make provision for the following:

(i) Stock in hand at 31 December 20X6:

Raw materials £25,000

Work in progress £11,000

Finished goods £26,000.

(ii) Depreciation of 10% on plant and machinery using the straight line method.

(iii) 80% of fuel and light and 75% of rent and rates to be charged to manufacturing.

(iv) Doubtful debts provision: 5% of sundry debtors.

(v) £4,000 outstanding for fuel and light.

(vi) Rent and business rates paid in advance: £5,000.

(vii) Market value of finished goods: £382,000.

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Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Returns inward General office expenses Repairs to plant and machinery Stock at 1 January 20X6: Raw materials Work in progress Finished goods Sundry creditors Capital account Freehold premises Plant and machinery Debtors Accumulated provision for depreciation on plant and machinery Cost in hand £ 258,000 21,000 17,000 59,000 4,000 21,000 7,000 9,000 9,000 21,000 14,000 23,000 410,000 80,000 20,000 11,000 984,000 £ 482,000 37,000 457,000 8,000 984,000