INTRODUCTION TO ACCOUNTING II
INSTRUCTIONS: ATTEMPT ALL QUESTIONS
Assignment
Question one
The following trial balance was extracted from the books of JOAKIM manufacturers on 31 December 2004
Dr. Cr.
Shs. Shs.
Stock at 1 Jan,2004
Raw Materials 459,000
Work in Progress 578,000
Finished goods 516,800
Plant and machinery 1,500,000
Office Furniture& Equipment 470,000
Sale of finished goods 7,735,000
Purchase of raw materials 1,870,000
Factory wages 1,250,000
Supervisory salaries 170,000
Factory insurance 61,200
Factory Electricity and Power 51,000
Plant repairs and maintenance 136,000
Advertising 33,000
Factory rates 57,600
Office salaries and wages 680,000
Office Electricity and water 142,800
Telephone,faxes and email 28,500
Postage & stationery 25,800
Debtors /Creditors 444,000 323,000
Cash and bank balance 181,000
Capital 661,200
Bank charges& Interests 21,500
Bank debts written off 18,000 0000000
8,719,200 8,719,200
Additional Information
Shs.
Raw material 510,000
Work in Progress 680,000
Finished goods 425,000
Plant & Machinery 10%
Furniture & equipment 15 %
Required:
Prepare Manufacturing Trading Profit and Loss account and balance sheet for the enterprise.
( 20 marks)
CAT
QUESTION ONE
Murungi Co. Ltd. Extracted the following trial balance as on 31st December, 2004.
Dr Cr
Shs. Shs.
Share Capitalrrtt
250,000 ordinary shares of Shs.100 each 25,000,000
125,000 10% preference shares of Shs. 100 each 12,500,000
10% debentures 10,000,000
Freehold premises at cost 25,000,000
Motor vehicles at cost 7,500,000
Fixtures and fittings 1,300,000
Plant and machinery at cost 2,500,000
Profit and loss A/C, 1 Jan 2004 2,685,000
Sales 59,475,000
Stock at 1 Jan 2004 10,775,000
Bad debts written off 125,000
Purchases 16,900,000
Dividends paid at 30 June 2004
Preference dividend 625,000
Ordinary dividend 1,250,000
Debenture interest paid at 30 June 2004 500,000
Trade Debtors/Creditors 2,700,000 1,500,000
Accumulated depreciation at 1 Jan 2004
Plant and machinery 1,025,000
Motor vehicles 2,250,000
Fixture and fittings 800,000
Salaries and wages 4,100,000
Cash and bank balances 4,775,000
Investments 22,500,000
Office expenses 2,300,000
General reserve 1,000,000
Selling and distribution expenses 13,750,000
Directors’ emoluments 3,700,000
Auditors’ remuneration 800,000
Preliminary expenses 1,200,000
Sundry income 1,625,000
Bank charges 60,000
Income from investments 4,500,000
122,360,000 122,360,000
Additional information available at 31 December 2004
There were no disposals and acquisition of non-current assets during the year.
Required:
‘Murungi Co. Ltd. Extracted the following trial balance as on 31st December, 2004.’
And ends
‘Balance sheet as at 31 December 2004 ( 7 marks’
I need to the person to show working clearly . How they calculated and created and/or attained the
Trading, Profit and Loss Accounts for the year ended 31 December 2004 ( 10 marks)
Profit and Loss Appropriation Account ( 3 marks)
Balance sheet as at 31 December 2004 ( 7 marks)”
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Our Services
Ace Writing Center has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.
Essays
At Ace Writing Center, Nowadays, students normally have extremely busy schedules. You will note that some of them have to take on some evening or weekend jobs in order to get some income that can help them to sustain in college or in the university. This can deny them a chance to write all the essays given. Others usually get bombarded with a lot of work by their lecturers. This can still delay such students from working on all their essays. However, some of them usually try to work on all these essays but end up delivering their work late. This can prevent them from graduating since most lecturers are strict on deadlines. If you want to write a business essay, the wise way is to hire an outstanding essay writing service like us, so that you can get the best results. If you are keen, you will note that many companies usually overcharge their customers. Some of them are there only to make money. And in reality, they really don’t care to build a long term commitment with students. You should not choose such companies. You should take your time and choose a reliable company to work with. Ace Writing Center is the ultimate solution for you. We have been offering our writing service for more than 7 years. This is a clear indication that you will get quality essay writing service. We have a wide range of writers who can work on any business essay that you might have. We believe in doing extensive research so that we can provide quality work to all our clients. .
Admissions
Admission and Business Papers
Have you ever had to write an admission essay for college? The majority of students face the same issues when applying to a university or college and many in such situations decide they need professional help to cope with this matter. They get in a situation when the deadline keeps coming closer but lack motivation to start because they are just not sure if their writing skills are strong enough. We have a solution for you! Ace Writing Center is the best admission essay writing service with a large professional team and years of experience in providing high-quality papers to students of all levels and faculties. The mission of our team is to help students make their dreams of entering a good college come true and that’s what we offer!.
Editing
Editing and Proofreading
Sometimes all the words for your paper just flow out of your mind and into your fingers. You type quickly at your keyboard and there they are, your beautiful words right there on the screen. But you have no idea how to polish it up. You may be wishing there was a paper writing service that offered this type of writing service. Look no more! Here at Ace Writing Center, we offer you an editing and proofreading option that you can't find anywhere else..
Coursework
College Essay Writing
In case you are familiar Ace Writing Center, you know the way to distinguish a better company from a cheap one exactly. First of all, poor service website does not have a sufficient support. We think support team is an essential part of success; it has to answer all clients’ questions and be a connecting link between clients and their writers. On our web-service you will get answers about anything you need and your writer will receive all your instructions, assignments and requirements exactly and swiftly. A writing service that we run has got a flexible pricing system that will save you from senseless wastes and many bonus systems that let you sparing money for something important for you.
