Question: please help solve this question. The answer should be in table form for proper understanding Obedience started business on 1st January, 2014 as a manufacturer

 please help solve this question. The answer should be in table

please help solve this question. The answer should be in table form for proper understanding

Obedience started business on 1st January, 2014 as a manufacturer of poultry (Q) 1 Ouestion Nine feed. The following figures were extracted from his records on 31si December, 20 |A PEL Rates and insurance 100,000 The following additional information is also relevant: i. During the year, 4,000 bags were completed. The closing stock of finished goods is valued at the average cost of production iii. Depreciate plant and machinery (bought on 31st march, 2014) by 10% per annum iv. Allocate expenses as follows: v. A manufacturing profit of 25% on production cost was added for the purpose of transferring finished goods to the trading section You are required to prepare Manufacturing, Trading and Profit and Loss Account for the year ended 31st December, 2014 and an extract of the Statement of Financial Position as at that date

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!