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From the following information, create a manufacturing account and statement of profit

Or loss for the year ending 31 December 2016 and a statement of financial position as at 31 December 2016 for J. Jones Limited.

258,000 21,000 17,000 59,000 4,000 21.000 482,000 7,000 9,000 9,000 Purchase of raw materials Fuel and light Administration salaries Factory wages Carriage outwards Rent and business rates Sales Returns inward General office expenses Repairs to plant and machinery Inventory at 1 January 2016: Raw materials Work-in-progress Finished goods Sundry accounts payable Capital account Freehold premises Plant and machinery Accounts receivable Accumulated provision for depreciation on plant and machinery Cost in hand 21,000 14,000 23,000 37,000 457.000 410,000 80,000 20.000 8,000 11,000 984,000 984,000 Make provision for the following: Make provision for the following: i) Inventory in hand at 31 December 2016: Raw materials 25,000 Work-in-progress 11,000 Finished goods 26,000. ii) Depreciation of 10% on plant and machinery using the straight line method. iii) 80% of fuel and light and 75% of rent and rates to be charged to manufacturing. iv) Allowance for doubtful debts: 5% of sundry accounts receivable. v) 4,000 outstanding for fuel and light. vi) Rent and business rates paid in advance: 5,000. vii) Market value of finished goods: 382,000

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