QUESTION TWO You have been appointed to assist the financial manager for the City of Durban....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
QUESTION TWO You have been appointed to assist the financial manager for the City of Durban. Your task is to prepare the 2019 annual budget. Below you have been given the 2019 annual budget as well as additional information that could assist you in the process. Program budget Actual Budgeted City of Durban annual budget Net expenditure Corporate Services Education Department Transport Department Social Services Department Police Department Government Revenues Taxes Grants Donations Total SURPLUS/(LOSS) 2018 R'000 1 500 2 400 1 200 1 290 1 050 12 000 1 050 900 [20] 6 510 2019 R'000 Additional information: • Spending on corporate services should increase by 30% from 2018; • The budget for education should increase by R100 000; • As local municipalities have been given greater responsibility for traffic control, the budget for police can be increased by half of the 2018 amount; Spending on Social Services must match the 2018 budgeted spending on Education; • Transport services will be more efficient and thus not require a change in budget; • The budget for taxation income must increase by 10%; . • Grant income is expected to increase by R50 000; • The budgeted revenue from donations for 2019 is R70 000. Required: Prepare the 2019 City of Durban Annual Budget. (Show your workings) QUESTION TWO You have been appointed to assist the financial manager for the City of Durban. Your task is to prepare the 2019 annual budget. Below you have been given the 2019 annual budget as well as additional information that could assist you in the process. Program budget Actual Budgeted City of Durban annual budget Net expenditure Corporate Services Education Department Transport Department Social Services Department Police Department Government Revenues Taxes Grants Donations Total SURPLUS/(LOSS) 2018 R'000 1 500 2 400 1 200 1 290 1 050 12 000 1 050 900 [20] 6 510 2019 R'000 Additional information: • Spending on corporate services should increase by 30% from 2018; • The budget for education should increase by R100 000; • As local municipalities have been given greater responsibility for traffic control, the budget for police can be increased by half of the 2018 amount; Spending on Social Services must match the 2018 budgeted spending on Education; • Transport services will be more efficient and thus not require a change in budget; • The budget for taxation income must increase by 10%; . • Grant income is expected to increase by R50 000; • The budgeted revenue from donations for 2019 is R70 000. Required: Prepare the 2019 City of Durban Annual Budget. (Show your workings)
Expert Answer:
Answer rating: 100% (QA)
SOLUTION Corporate services services Education departm... View the full answer
Related Book For
Elementary Statistics A step by step approach
ISBN: 978-0073386102
8th edition
Authors: Allan Bluman
Posted Date:
Students also viewed these accounting questions
-
The table below shows the number of students (in thousands) participating in various programs at both two-year and four-year institutions. At = 0.05, can it be concluded that there is a relationship...
-
The table below shows the number of ATM customer arrivals per minute in 60 randomly chosen minutes. Research question: At = .025, can you reject the hypothesis that the number of ATM arrivals per...
-
The table below shows the number of cars (in millions) sold in the United States for various years and the percent of those cars manufactured by GM. Use a statistical software package to answer the...
-
The species-area curve tells us that slowing or halting___________ ___________ will potentially slow the rate of extinction.
-
Dubois Inc. received equipment as a donation. The equipment has a fair value of $55,000. Prepare the journal entry to record the receipt of the equipment under each of the following assumptions: (a)...
-
A value that is two standard deviations below the mean will have a z-score of ___________________ . In Exercises 910, fill in each blank with the appropriate word or phrase.
-
Why is the distinction between general and specific indicators of eco-efficiency important for accounting in (a) ecological and (b) financial terms?
-
On January 1, 2010, Parker, Inc., a U.S.-based firm, acquired 100 percent of Suffolk PLC located in Great Britain for consideration paid of 52,000,000 British pounds (£), which was equal to...
-
what could be the solution to Apple's reported Poor suppliers' employees working conditions in China?Exlain
-
Alexander Smith and his wife Allison are married and file a joint tax return for 2019. The Smiths live at 1234 Buena Vista Drive, Orlando, FL 32830. Alexander is a commuter airline pilot but took 6...
-
Jayhawk Company reports current E&P of $310,000 and accumulated E&P of negative $282,500. Jayhawk distributed $505,000 to its sole shareholder, Christine Rock, on the last day of the year....
-
Discuss the history of performance management ? Explain the conceptual framework of performance management . ?
-
Discuss the contributions of any five social science disciplines to the understanding of the state of health of a country.
-
Q4. ABC Clothing Company is the largest supplier of suits for W Company. The receiving area for ABC is shown below. Typically, large bolts of cloth, covered with a plastic bag, arrive stacked upright...
-
The nuchal ligament is a very large, very elastic ligament that helps support the weight of a horse's head. It attaches to the back of the skull and to a point low on the cervical spine. The strain...
-
write the polynomial for 11,7-
-
GGT Industries manufactures 23,000 units of a particular component each year. The component's annual manufacturing costs for this level of production are: Direct Materials $147,000 Direct Labor...
-
A horizontal annulus with inside and outside diameters of 8 and 10 cm, respectively, contains liquid water. The inside and outside surfaces are maintained at 40 and 20oC, respectively. Calculate the...
-
Use the Spearman rank correlation coefficient to see if there is a linear relationship between these two sets of data, representing the number of calories and the amount of cholesterol in fast-food...
-
The director of an alumni association for a small college wants to determine whether there is any type of relationship between the amount of an alumnuss contribution (in dollars) and the years the...
-
A researcher wishes to see if the number of adults who do not have health insurance is equally distributed among three categories (less than 12 years of education, 12 years of education, more than 12...
-
An air-conditioning chiller unit weighing \(10 \mathrm{kN}\) is to be supported by four air springs (Fig. 2.50). Design the air springs such that the natural frequency of vibration of the unit lies...
-
The maximum velocity attained by the mass of a simple harmonic oscillator is \(10 \mathrm{~cm} / \mathrm{s}\), and the period of oscillation is \(2 \mathrm{~s}\). If the mass is released with an...
-
A helical spring, when fixed at one end and loaded at the other, requires a force of \(100 \mathrm{~N}\) to produce an elongation of \(10 \mathrm{~mm}\). The ends of the spring are now rigidly fixed,...
Study smarter with the SolutionInn App