The Trial Balance belongs to Agholoshie Ltd. for the vear ending March 31. 2018 Dr Cr...

  

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The Trial Balance belongs to Agholoshie Ltd. for the vear ending March 31. 2018 Dr Cr GHC GHC Plant and Machinery 78,000 Equipment 18,000 Stock - raw materials 13,465 -Partly Finished Goods 26,200 - Finished Goods 20,000 Provision for Depreciation -Plant and Machinery 14,200 -Motor Vehicle 8,600 Sales 278,000 Wages 32.800 Maintenance and Repairs 2.620 Buildings 75,600 Debtors 19,300 Creditors 16,500 Carriage Inwards 5,950 Carriage Outwards 8,965 Salaries- factory 10,500 EXAMINER. MP MARK ANDOH-OwUsu Nalaries adininiaration 8,700 Hank Overdeall 12,800 Cash 13.000 Reum Outwards 1.990 Purchase of raw materials 116,000 Motor Van 81.000 Electricity 13.650 Rent 12,768 Capital 200.000 Interest Payable 3,122 Interest Receivable 7,540 Loan- 5 years 20.000 559.630 559.630 Additional Information inade available: 1. Depreciation is provided at 10% on Plant and Machinery and 15% on Motor Van 2. Two-thirds of rent and four-fifths of electricity paid are charged to the factorv 3. Closing Stocks are: Raw Materials GHC15,680; Partly Finished Goods GHC24.700: Finished Goods GHC8,000, Wages accrued amounted to GHCS,000 4. Interest receivable acerued was GHC460 Required. 1 Prenare the company's Manufacturing Account and Income Statement for the vear end 2018 a Prenare the Statement of Financial Position as at March 31, 2018 (10marks) (7marks) (Total 17marks] The Trial Balance belongs to Agholoshie Ltd. for the vear ending March 31. 2018 Dr Cr GHC GHC Plant and Machinery 78,000 Equipment 18,000 Stock - raw materials 13,465 -Partly Finished Goods 26,200 - Finished Goods 20,000 Provision for Depreciation -Plant and Machinery 14,200 -Motor Vehicle 8,600 Sales 278,000 Wages 32.800 Maintenance and Repairs 2.620 Buildings 75,600 Debtors 19,300 Creditors 16,500 Carriage Inwards 5,950 Carriage Outwards 8,965 Salaries- factory 10,500 EXAMINER. MP MARK ANDOH-OwUsu Nalaries adininiaration 8,700 Hank Overdeall 12,800 Cash 13.000 Reum Outwards 1.990 Purchase of raw materials 116,000 Motor Van 81.000 Electricity 13.650 Rent 12,768 Capital 200.000 Interest Payable 3,122 Interest Receivable 7,540 Loan- 5 years 20.000 559.630 559.630 Additional Information inade available: 1. Depreciation is provided at 10% on Plant and Machinery and 15% on Motor Van 2. Two-thirds of rent and four-fifths of electricity paid are charged to the factorv 3. Closing Stocks are: Raw Materials GHC15,680; Partly Finished Goods GHC24.700: Finished Goods GHC8,000, Wages accrued amounted to GHCS,000 4. Interest receivable acerued was GHC460 Required. 1 Prenare the company's Manufacturing Account and Income Statement for the vear end 2018 a Prenare the Statement of Financial Position as at March 31, 2018 (10marks) (7marks) (Total 17marks]

Answer rating: 100% (QA)

There are 2 mistakes in the problem 1 Interest receivable ... View the full answer