At $31$st March, $2023,$ AB Ltd$,$ had an Authorised Capital of K$35,000$ divided into $10,0007\mathrm{.}5\%$ noncumulative p per share being due on $30$th June, $1964.$

per share paid, the remaining K$0\mathrm{.}125$eference shares of K$1$ each of which $5,000$ Shares have been

issued and fully paid and $50,000$ Ordinary shares of K$0\mathrm{.}50$ each, of which $48,000$ had been issued and

K$0\mathrm{.}375$ per share paid, the remaining K$0\mathrm{.}125$ per share being due on $30$th June $2023.$

In addition to any balances arisin g from the foregoing, the private ledger contained balances at $31$st

march, $2023$ as follows:

K

Stock on Hand at $1$st April, $202214,200$

Cash in Hand $50$

Bank Overdraft $4,060$

Purchases of materials $67,280$

Sales $97,650$

Returns from customers $420$

Returns to Suppliers $240$

Productive Wages $16,750$

Net Cost of Tools used $476$

Office Salaries $2,270$

Sales Transport Costs $1,320$

Rent Rates $486$

Insurance $480$

General Expenses $286$

Cash Discount Allowed $360$

Cash Discounts Received $240$

Bad Debts Provision $!$st April, $2022220$

Interest on Bank Overdraft $160$

Freehold Land and Buildings, at Cost $10,500$

Machinery at Cost $16,350$

Trade Debtors $6,748$

Trade Creditors $6,723$

Goodwill at Cost $4,600$

Accumulated provision for Depreciation of Machinery to $1$st April, $20221,750$

Loan to a Director $2,600$

Directors$$ Remuneration $4,750$

Undistributed Profits at $31$st March, $202212,500$

Reserve of Capital Profits $6,000$

Preference Dividend for half year to $30$th September, $2023($less tax$)2,297$

REQUIRED:

Prepare a Trading and Profit and Loss Account for the year to $31$st March $2023,$ and a Balance Sheet at

that date after taking into account the following:$-$

$(1)$ A reserve for future taxation of K$1,700.$

$(2)$ The dividend due on the preference shares for the half year to $31$st March, $2023$

$(3)$ Additional depreciation of machinery of K$500.$

$(4)$ A total provision for Bad Debts of K$420.$

$(5)$ Insurance paid in advance of K$60.$

$(6)$ Stock of Materials and Finished Goods at $31$st March, $2023$ K$15620$