FINAL ACCOUNTS OF MANUFACTURING CONCERNS

1. From to following details, prepare a Manufacturing Mar. 31, 2012. Particulars Amount Rs. Raw Materials: On 1.4.11 80,000 On 31.3.12 1,00,000 Work-in-Progress: On 1.4.11 40,000 On 31.3.12 30,000 Purchases 5,00,000 Return Outward 20,000 Salaries of Factory Manager 70,000 Salaries of other factory staff 1,00,000 Factory Lighting 25,000 Normal loss of materials 2,200 Account in the books of Mr. Arvind for the year ended Particulars Depreciation: On Factory Shed On Factory Equipment On Factory Furniture Wages: For regular workers For apprentice workers Freight on Purchases Sale of Scrap Amount Rs. 35,000 13,000 2,000 3,50,000 15,000 40,000 12,600

2. The following balances appeared in the books of Mr. Murali for the year ended Mar. 31, 2011. You are required to prepare Manufacturing, Trading and Profit & Loss Account after considering the additional information: Rs. Rs. Carriage Outward 1,650 Stock on 1.4.10 16,000 Miscellaneous Income 2,350 Raw Materials 18,900 Bad debts 500 Finished Goods 12,900 Sales 18,15,000 WIP Wages : Direct 1,20,000 Interest on loan taken 1,700 Indirect 2,500 Electricity (Office) 2,300 Factory Rent 2,40,000 Staff Salaries 11,500 Fuel and Coal 18,000 Discount (Dr.) 1,300 Advertisement 1,440 Purchases of Raw Materials 8,30,000 Sale of scrap 2,000 Factory Power 10,000 Cost of special design 17,500 Insurance Premium 1,200 Salaries of foremen 36,000 Carriage Inward: Raw Materials 25,000 Finished Goods 12,700 Brokerage on Purchases 3,700 Loose Tools consumed during the year 4,600 Drawings (of goods) 9,000 Additional Information: a. Stock as at 31.3.11 Rs. Raw Materials 15,000 Finished goods 10,000 WIP 6,000 Depreciate Plant & Machinery by ` 20,000 and Office equipment by ` 860. Expenses outstanding on 31.3.11: Staff salaries ` 3,500; Factory power ` 2,000.

b. c.