Don't use AI. Below are the transactions of the Consolidated Fund forthe year ended 31 December, 2021 GHS 000Cash andCash Equivalent (1/1/2021)(1,012, 400.00) Cash andCash Equivalent (31/12/2021)921, 043.00 Loans andAdvances850, 555.00 Recovery of Loans and Advances54, 443.00Direct Taxes 1,230, 440.00Indirect Taxes1,560,650.00Fees, Commissions and Others378, 700.00Established Post Salaries 750, 678.00Non establishedPost Salaries45, 560.00 Debt Repayment34, 600.00Conferences, Seminars and Training 99, 940.00 ForeignTravel Costs and Per Diem 120, 111.00Subsidies234,400.00Rent and Bills24, 400.00Office Expenses38.890.00 Trust Fund Investment188,870.00 EquityInvestment260, 600.00 Auction Sales of UnserviceableEquipment133,400.00 Purchase of Motor Vehicle87,600.00Purchase of Furniture and Fittings22, 230.00Road and Bridge Contracts456, 780.00 DomesticBorrowing690,700.00 External Borrowing 980, 600.00Public Interest89, 678.00Consumption of Fixed Capital36,500.00Other Expenditure12, 348.00Grants to LocalGovernment18,900.00Sales of Equity Investment240,650.00Required:Prepare Cash Flow Statement of theConsolidated Fund for the year ended 31 December2021 in accordance to IPSAS 2: Cash Flow Statement

The Consolidated Fund Cash Flow Statement for the year ended 31 December 2021 shows a positive net…

Answered: Below are the transactions of the…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 6E

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Question You are provided with the following information relating to the Consolidated Fund for the year ended 31st December, 2019. Debit Credit GHC'000 GHc'000 Corporate taxes 200,000 Personal income taxes 120,000 Capital gain taxes and sundries 50,000 Taxes on general goods and services 180,000 Fees, fines and penalties 80,000 Investment income 20,000 Custom duties 250,000 Grants 150,000 Communication service taxes 100,000 Royalties 40,000 Established post 240,000 Casual labour 60,000 Travel and transport 70,000 Repairs and maintenance 50,000 13% Social security contribution 26,000 Gratuity and end of service benefit 168,000 State protocol 180,000 Independence Day celebration 205,000 Seminar and conferences 30,000 Probation 25,000 Property plant and equipment (at cost) 300,000 Infrastructure (at…
Question 2 Below is the list of transactions relating to the Consolidated Fund for the year ended 31" December,2016. GHC'000 1,200,000 1,300,000 1,000,000 750,000 200,000 400,000 90,000 150,000 30,000 20,000 600,000 300,000 200,000 100,000 250,000 100,000 800,000 1,800,000 2,000,000 450,000 500,000 220,000 240,000 60,000 70,000 20,000 120,000 40,000 900,000 140,000 430,000 Direct taxes Indirect taxes Compensation for employees Goods and services Grants to local authorities Grant from other governments Loans granted Advances granted Recovery of advance Recovery of loans Equity investment Investment in other securities Sale of equity investment Sale of other securities Purchase of motor vehicle Proceeds from sale of motor vehicles Construction of bridges Domestic debt borrowing External debt borrowing Repayment of domestic debt Repayment of external debt Domestic debt interest External debt interest Subsidies Social benefits Other expenditures Non-tax revenues Inventories Purchase of…
The City of Minden entered into the following transactions during the year 2026. 1. 2. 3. 4. 5. 6. 7. 8. 9. A bond issue was authorized by vote to provide funds for the construction of a new municipal building, which it was estimated would cost $1,080,000. The bonds are to be paid in 10 equal installments from a Debt Service Fund, and payments are due March 1 of each year. Any premium on the bond issue, as well as any balance of the Capital Projects Fund, is to be transferred directly to the Debt Service Fund. An advance of $74,000 was received from the General Fund to underwrite a deposit on the land contract of $111,000. The deposit was made. Bonds of $992,000 were sold for cash at 102. It was decided not to sell all the bonds because the cost of the land was less than expected. Contracts amounting to $884,000 were let to Sunny and Company, the low bidder, for construction of the municipal building. The temporary advance from the General Fund was repaid and the balance on the land…
The following information relates to Samson Engineering as at 30 June 2023: RProfit for the year180 000Drawings50 000Property920 000Long-term borrowings510 000Trade receivables380 000Plant and machinery250 000Trade payables180 000Short-term borrowings260 000Fixtures and fittings90 000Inventories420 000Equity at 1 July 20221 175 000Cash45 000Motor vehicles150 000 RequiredCalculate the following:The total non-current assets The total current assetsThe total assets
Hint: For taxes received journal entry, the $5,000 must come from estimated uncollectible revenues.
The following is a pre-closing trial balance for Montpelier's General... The following is a pre-closing trial balance for Montpelier's General Fund as of June 30, 2023: Debits Credits Cash $116,500 Taxes Receivable-Current 29,000 Allowance for Uncollectible Current Taxes $3,000 Accounts Payable 7,800 Due to Other Funds 5, 500 Tax Anticipation Notes Payable 50,000 Fund Balance-Unassigned 70,200 Budgetary Fund Balance 1,000 Estimated Revenues 100,000 Revenues 102,000 Appropriations 99,000 Expenditures 93,000 Totals $ 338,500 $ 338, 500 What is the fund balance as of June 30, 2023, after all closing entries have been made?
Charles Wilson Company sells 8% bonds having a maturity value of $1,910,000 for $1,765,190.00. The bonds are dated January 1, 2025, and mature January 1, 2030. Interest is payable annually on January 1. Click here to view factor tables.
The preclosing, year-end trial balance for a capital projects fund of the city of Rochester as of December 31, 2019, follows: Debit CreditCash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .110,000Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .250,000Contracts Payable—Retained Percentage. . . . . . . . . . . 110,000Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41,600Other Financing Sources . . . . . . . . . . . . . . . . . . . . . . . . . . 800,000Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .586,600Other Financing Uses . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5,000Encumbrances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…
T4.
Can someone help with the fund balances amount (red) for requirement c? The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2024: Beginning balances were: Cash, $95, 000; Taxes Receivable, $185, 000; Accounts Payable, $50, 000; and Fund Balance, $230,000. The budget was passed. Estimated revenues amounted to $1,200,000 and appropriations totaled $1, 197,500. All expenditures are classified as General Government. Property taxes were levied in the amount of $902, 000. All of the taxes are expected to be collected before February 2025. Cash receipts totaled $870,000 for property taxes and $272,000 from other revenue. Contracts were issued for contracted services in the amount of $90,000. Contracted services were performed relating to $82,000 of the contracts with invoices amounting to $81,500. Other expenditures amounted to $947, 000. Accounts payable were paid in the amount of $ 1,070,000. The books were closed. Required: a.…
Subject:
Here is the preclosing December 31, 2020 trial balance for the general fund of Lancaster County: All numbers are in thousands. Debit $ 371,000 113,000 Estimated revenues 1,290,000 Estimated other financing sources 60,000 General expenditures 1,015,000 25,000 Cash Taxes receivable Capital outlay Debt service: principal payments Debt service: interest payments Transfers out Due from other funds Allowance for uncollectible taxes Accounts payable Due to other funds Property tax revenues Speeding ticket revenues Transfers in Bond proceeds Appropriations Estimated other financing uses Fund balance-unassigned Totals 2,000 8,000 20,000 12,000 Credit $45,000 50,000 21,000 950,000 400,000 8,000 50,000 1,085,000 22,000 285,000 $2,916,000 $2,916,000 By how much do the closing entries at the end of 2020 increase fund balance- unassigned? $37,000 $40,000 $73,000 $95,000

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