The trial balance of Jeremina plc as at 31 March 20X2 is as follows:

Notes:

(i) Stock of finished goods on 31 March 20X2 £163,000.

(ii) Motor expenses and depreciation on motors to be apportioned: Distribution 4/5, Administrative 1/5.

(iii) Plant and machinery depreciation to be apportioned: Cost of sales 7/10, Distribution 1/5, Administrative 1/10.

(iv) Depreciate the following fixed assets on cost: Motor vehicles 20 per cent, Plant and machinery 15 per cent.

(v) Accrue corporation tax on profits of the year £38,000. This is payable on 31 December 20X2.

You are to draw up:

(a) A detailed trading and profit and loss account for the year ended 31 March 20X2 for internal use, and

(b) A profit and loss account for publication, also a balance sheet as at 31 March 20X2.

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Preference share capital: 50p shares Ordinary share capital: £1 shares General reserve Exchange reserve Profit and loss as on 31 March 20X1 Stock 31 March 20X1 Sales Returns inwards Purchases Carriage inwards Wages (putting goods into a saleable condition) Wages: Warehouse staff Wages and salaries: Sales staff Wages and salaries: Administrative staff Motor expenses (see note (ii)) General distribution expenses General administrative expenses Debenture interest Dr £ 184,000 34,000 620,000 6,000 104,000 40,000 67,000 59,000 29,000 17,000 12,000 2,000 Cr £ 200,000 300,000 25,000 15,000 21,000 1,320,000