M/S S.R. Ltd maintains integrated accounts of cost and financial accounts. From the following details, write up control accounts in the general ledger of the factory and prepare a trial balance:
|
Share capital |
1,50,000 |
|
Reserve |
1,00,000 |
|
Sundry creditors |
2,50,000 |
|
Plant and machinery |
2,87,500 |
|
Sundry debtors |
1,00,000 |
|
Closing stock |
75,000 |
|
Cash and bank balance |
37,500 |
|
Transactions during the year were as follows: |
|
|
Stores purchased |
5,00,000 |
|
Stores issued to production |
5,25,000 |
|
Stores in hand |
47,500 |
|
Direct wages incurred |
3,25,000 |
|
Direct wages charged to production |
3,00,000 |
|
Manufacturing expenses incurred |
1,50,000 |
|
Manufacturing expenses charged to production |
1,37,500 |
|
Selling and distributing expenses |
50,000 |
|
Finished stock production (at cost) |
9,00,000 |
|
Sales at selling price |
11,00,000 |
|
Closing stock |
47,500 |
|
Payment to creditors |
5,50,000 |
|
Receipts from Debtors |
10,50,000 |