Question

The Department of Parks and Gardens provides you with the following list of balances an transactions relating to the year 2019 12,000 45,200 20,000 5,000 Cash and cash equivalent (1/1/2019) Advances and loans (1/1/2019) Investment in securities (1/1/2019) Utility accrued (1/1/2019) Summary of transactions durring the year: Loan granted to staff Loan recovered from staff Advances recovered Investment income received Warrant received for compensation for employees Warrant received for goods and services Warrants recieved for non-financial assets Receipt from parks services offered Parks services fees yet to be received Established post salaries Non-established post salaries Casual labour cost Other emoluments to workers Purchase of garden equipment Purchase of motor vehicle Nursing infrastructure Travel and transport Utility paid Consultancy Foreign travels Car maintenance allowance Repairs and maintainance Other goods purchased Other expenditures Training and workshops Local and international conferences Accumulated Fund (1/1/2019) 23,000 18,000 15,000 6,500 182,000 82,500 56,000 40,000 15,000 100,000 42,000 16,000 18,000 13,600 27,000 14,500 10,000 8,000 15,500 18,500 8,000 5,800 20,200 16,000 4,500 9,900 72,200 Additional information:

Answer 1

Solution: Department of Parks & Gardens Amount 23000 100000 42000 16000 18000 13600 27000 14500 i) Statement of Receipts & Payments for the year ended 31/12/2019 Particulars Amount Particulars TO CASH & CASH EQUIVALENT 12000 BY LOAN TO STAFF BY ESTABLISHED POST SERVICES TO LOAN RECOVER FROM STAFF 18000 BY NON ESTABLISHED POST SERVICES TO ADVANCES RECOVERED 15000 BY CASUAL LABOUR COST TO INCOME FROM INVESTMENT 6500 BY OTHER EMOLUMENTS TO WORKERS TO WARRANT FOR COMPENSATION TO EMPLOYEES 182000 BY GARDEN EQUIPMENT TO WARRANT FOR GOODS & SERVICES 82500 BY MOTOR VAHICAL TO WARRANT NON FINANCIAL ASSETS 56000 BY NURSING INFRASTRUCTURE TO RECEIPTS FROM PARK SERVICES 40000 BY TRAVEL & TRANSPORT BY UTILITY PAID BY CONSULTANCY BY FOREIGN TRAVEL BY CAR MAINTENANCE ALLOWANCE BY REPAIRS & MAINTENANCE BY GOODS PURCHASED BY EXPENDITURES BY TRAINING & WORKSHOPS BY LOCAL & INTERNATIONAL CONFERENCES BY CASH & CASH EQUIVALENT 10000 8000 15500 18500 8000 5800 20200 16000 4500 9900 41500 Total 412000 Total 412000

Amount 6500 182000 82500 56000 40000 15000 ii) Statement of financial performance for the year ended 31/12/2019 Particulars Amount Particulars TO ESTABLISHED POST SALARIES 100000 BY INCOME FROM INVESTMENT TO NON ESTABLISHED POST SALARIES 42000 BY WARRANT FOR COMPENSATION TO EMPLOYEES TO CASUAL LABOUR COST 16000 BY WARRANT FOR GOODS & SERVICES TO OTHER EMOLUMENTS TO WORKERS 18000 BY WARRANT NON FINANCIAL ASSETS TO TRAVEL & TRANSPORT 10000 BY RECEIPTS FROM PARK SERVICES TO UTILITY PAID 3000 BY RECEIPTS FROM PARK SERVICES RECEIVABLES TO CONSULTANCY 15500 TO FOREIGN TRAVEL 185001 TO CAR MAINTENANCE ALLOWANCE 8000 TO REPAIRS & MAINTENANCE 5800 TO GOODS PURCHASED 20200 TO EXPENDITURES 16000 TO TRAINING & WORKSHOPS 4500 TO LOCAL & INTERNATIONAL CONFERENCES 9900 TO DEPRECIATION (NOTE 1) 10250 TO SURPLUS TRF TO BALANCE SHEET 84350 Total 382000 Total 382000

Amount iii) Statement of financial position for the year ended 31/12/2019 Liabilities Amount Asstes ACCUMULATED FUNDS 72200 FIXED ASSETS ADD SURPLUS OF THE CURRENT YEAR 84350 156550 GARDEN EQUIPMENT MOTOR VAHICAL NURSING INFRASTRUCTURE 10200 21600 13050 30200 5000 ADVANCES & LOANS LOAN TO STAFF INVESTMENT IN SECURITIETS PARK FEE RECEIVABLE CASH & CASH EQUIVALENT 20000 15000 41500 Total 156550 Total 156550

Note: 1 CONSUMPTION OF FIXED ASSETS (DEPRECIATION) COST RATE Amount 25 3400 particulars BY GARDEN EQUIPMENT BY MOTOR VAHICAL BY NURSING INFRASTRUCTURE 13600 27000 20 5400 1450 14500 10 Total 10250