From the following information, you are required to prepare statement of revenues, expenditure and changes in...

 

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From the following information, you are required to prepare statement of revenues, expenditure and changes in fund balances, other financial sources and statement of net assets 1. Revenue department levied taxes and collected RO 665000 out of which RO 165000 has been outstanding 2. Department of ministry of commerce has issued 33000 bonds of RO 10 each at a discount of RO 2 per bond which is restricted for purpose of construction of Bus station 3. The same has been spent by the department for construction bus station and total amount of RO 330000 has been paid 4. The service department billed the other department RO 15000 5. Municipality issued 5% bonds of RO 55000 at RO 5 each at a premium of 10% From the following information, you are required to prepare statement of revenues, expenditure and changes in fund balances, other financial sources and statement of net assets 1. Revenue department levied taxes and collected RO 665000 out of which RO 165000 has been outstanding 2. Department of ministry of commerce has issued 33000 bonds of RO 10 each at a discount of RO 2 per bond which is restricted for purpose of construction of Bus station 3. The same has been spent by the department for construction bus station and total amount of RO 330000 has been paid 4. The service department billed the other department RO 15000 5. Municipality issued 5% bonds of RO 55000 at RO 5 each at a premium of 10%

Answer rating: 100% (QA)

Answer Statement of revenue Expenditure Changes in fund balances For the year Ending 20X... View the full answer