Problem III (20 Marks) Financial Statement Preparation Listed below are the sections of the Balance Sheet and Statement of Revenues, Expenditures, and Changes in Fund Balance that would be prepared for the General Fund: Balance Sheet A Assets B Liabilities C Fund Balance Statement of Revenues, Expenditures, and Changes in Fund Balance D F Revenues Expenditures Other Financing Sources and Uses, including transfers Special and Extraordinary Items G H Fund Balance Certain accounts from the general ledger or other transactions of the City of Lusaka are listed below. For each account or transaction identify the section of the appropriate financial statement where each account would be reported. If an account is not reported on either statement, indicate that by using a X. A section may be used more than once. Use the letters from A-H. 1. Payment to employees for services rendered 2. Allowance for Uncollectible Taxes 3. Advance to Enterprise Fund 4. Sale of park land (considered unusual but under the control of management) 5. Property taxes levied and collected 6. Fund Balance - Non-spendable - Inventory 7. Vouchers Payable 8. Transfer to the Special Revenue Fund 9. Correction of Prior Year Error 10. Due to Internal Service Fund 11. Purchase of a capital asset 12. Building inspection services provided to contractors 13. Receipt of materials ordered 14. Payment from Fund A to Fund B for transaction erroneously recorded in Fund B 15. Insurance recovery from a tornado (tornado was considered unusual and infrequent) 16. Investments 17. Interest earned on investments 18. Short-term borrowing from a bank 19. Interest paid on short-term loan 20. Due from Special Revenue Fund