Idayah Limited is a manufacturing company. The following balances were extracted from its records on 31st December 2014. Stock on 01/01/2014 Le Raw material...

Assessment: WAEC SSCE - Financial Accounting - 2017 (Essay) Subject: Financial Accounting

Question 1 Report

Idayah Limited is a manufacturing company. The following balances were extracted from its records on 31st December 2014.

Stock on 01/01/2014	Le
Raw materials	56,000
Work-in-progress	60,000
Finished goods	80,000
Purchases of raw materials	150,000
Carriage of raw materials	7500
Manufacturing wages paid	16,500
Factory wages accrued	4,000
Direct factory expenses	11,000
Fuel for factory expenses	15,400
Depreciation of factory equipment	12,000
Sales of finished goods	500,000
Carriage expenses	7,600
General office goods	3,800
Office Salaries	19,200
Stock: 31/12/2014
Raw materials	40,000
Work-in-progress	64,000
Finished goods	72,000

You are required to prepare manufacturing, Trading, and Profit and Account for the year ended 31st December 2014

Answer

Manufacturing Accounts

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