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follows: The trial balance of Mashaba Local Government Council as at 31 December 202X is as Question 2 Cash Devenne Rent and Rates Interest and Penalties Revenue Licences Revenue Revere Fines Water rates Revenue Sundry revenue Market fees Parks and recreation Accet Revenue Revenue DR $ 181,992 1,480,740 383 800 CR $ 3,898,908 7,800 2,108,592 928,500 841,350 82,950 132,900

follows: The trial balance of Mashaba Local Government Council as at 31 December 202X is as Question 2 Cash Devenne Rent and Rates Interest and Penalties Revenue Licences Revenue Revere Fines Water rates Revenue Sundry revenue Market fees Parks and recreation Accet Revenue Revenue DR $ 181,992 1,480,740 383 800 CR $ 3,898,908 7,800 2,108,592 928,500 841,350 82,950 132,900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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follows: The trial balance of Mashaba Local Government Council as at 31 December 202X is as Question 2 Cash Axt Rent and Rates Revenue Interest and Penalties Revenue Licences Revenue Revere Fines Water rates Revenue Sundry revenue Revente Market fees Revenue Parks and recreation Accet Pension contribution Aceet Expense Health and welfare Asset expense Administration Expense Sundry expanses Investments (short term) Asset Expense Expense Staff advances Loans -Better life programme Asset - CBZ Fund balance DR 181,992 1,480,740 382,800 2,191,260 3,010,500 29,640 4,500,000 63,750 75,000 11,915,682 CR $ Required a) The revenue account for the year ended December 31, 202X p) The statement of asset and liabilities as at December 31, 202X To meet the requirements of IPSAS 1 in as far as possible) 3,898,908 7,800 2,108,592 928,500 841,350 82,950 132,900 37,500 3,877,182 11,915,682 Additional relevant information: i. The underlisted amounts had been erroneously left out: Market fees $7,500 ● Parks and recreation $11,250 (paid) Owing ii. The Reserve fund is 2% of the total internal revenue of the local government.
Transcribed Image Text:follows: The trial balance of Mashaba Local Government Council as at 31 December 202X is as Question 2 Cash Axt Rent and Rates Revenue Interest and Penalties Revenue Licences Revenue Revere Fines Water rates Revenue Sundry revenue Revente Market fees Revenue Parks and recreation Accet Pension contribution Aceet Expense Health and welfare Asset expense Administration Expense Sundry expanses Investments (short term) Asset Expense Expense Staff advances Loans -Better life programme Asset - CBZ Fund balance DR 181,992 1,480,740 382,800 2,191,260 3,010,500 29,640 4,500,000 63,750 75,000 11,915,682 CR $ Required a) The revenue account for the year ended December 31, 202X p) The statement of asset and liabilities as at December 31, 202X To meet the requirements of IPSAS 1 in as far as possible) 3,898,908 7,800 2,108,592 928,500 841,350 82,950 132,900 37,500 3,877,182 11,915,682 Additional relevant information: i. The underlisted amounts had been erroneously left out: Market fees $7,500 ● Parks and recreation $11,250 (paid) Owing ii. The Reserve fund is 2% of the total internal revenue of the local government.
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