b) Mema limited sells goods in returnable containers for which he charges a deposit of kshs.20...

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b) Mema limited sells goods in returnable containers for which he charges a deposit of kshs.20 shs 15 refunded on return. Stock is valued at shs. 10 per unit and bought at prevailing market price. Opening balances were: Stock with customers 2,000 Stock at hand 1,500 During the year ended 31st December 2014 the following transactions were entered into Purchased stock 5,000 units @ kshs 12 Purchased stock 7,000 units @kshs.13 Charged to customers 50,000 units Scrapped at kshs.5 each 1,000 units Kept by customers beyond limit 2,000 units Containers held by customers but within acceptable limit is 4,000 units Required: a. Container stock account. b. Container suspense account. c. Profit statement (4 marks) (3 marks) (3 marks) b) Mema limited sells goods in returnable containers for which he charges a deposit of kshs.20 shs 15 refunded on return. Stock is valued at shs. 10 per unit and bought at prevailing market price. Opening balances were: Stock with customers 2,000 Stock at hand 1,500 During the year ended 31st December 2014 the following transactions were entered into Purchased stock 5,000 units @ kshs 12 Purchased stock 7,000 units @kshs.13 Charged to customers 50,000 units Scrapped at kshs.5 each 1,000 units Kept by customers beyond limit 2,000 units Containers held by customers but within acceptable limit is 4,000 units Required: a. Container stock account. b. Container suspense account. c. Profit statement (4 marks) (3 marks) (3 marks)