$\backslash$table$[[$Opening inventory $-$ work$-$in$-$progress,$900,],[$Retained earnings,,$380],[$Purchases $-$ parts and materials,$2,300,],[$Research and development,$5,300,],[$Revenue$,,10,000],[$Sales department salaries,$600,15,000],[$Share capital,,$600],[$Trade payables,$1,000,],[$Trade fair,$48,480,48,480]]$

and materials were valued at $$520,000$ and closing inventories of work$-$inprogress were valued at $$710,000.$ There are no inventories of finished goods because all production is for specific customer orders and goods are usually shipped as soon as they are completed.

$($ii$)$ No depreciation has been charged for the year ended $31$ December $20$X$8.$ The company depreciates the factory at $2\%$ of cost per annum and all machinery at $25\%$ per annum on the reducing balance basis.

$($iii$)$ The balance on the research and development account is made up as follows:

$\backslash$table$[[$Opening balance $($development costs brought forward$),2,100,000$