Solution-Prepare the firms manufacturing and trading

Prepare the firms manufacturing and trading

Assignment Help Managerial Accounting

Reference no: EM13513259

The following balances were extracted from the books of Atlas Enterprises for the year ended 30 September, 2009:

	N		N
Stock ... 1 October 2008
Raw materials	105,500	Factory expenses	50,000
Finished goods	347,000	Sales	1,800,000
Work-in-progress	76,000	Wages	254,500
Purchases: Raw materials	227,000	Rent & rates	40,000
Motor Vehicle expenses	11,000	Salaries	35,000
Depreciation:		Selling expenses	6,800
Plant & machinery	10,000	Market value of goods produced	700,000
Motor Van	8,000	Administrative expenses	65,000

Additional information:

25% of Rent and rates is for the office; 30% of Salaries is for the foreman in the factory.

Stocks as at 30 September, 2009: Raw materials N87,700; Finished goods N320,000; Work-in-Progress N65,000

Prepare the firm's Manufacturing, Trading, Profit and Loss Accounts for the year ended 30 September, 2009 in vertical form.

Reference no: EM13513259

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Prepare the firms manufacturing and trading

Reference no: EM13513259

Reference no: EM13513259

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