The following accounts balances were extracted from the books of NCA, a state corporation for the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following accounts balances were extracted from the books of NCA, a state corporation for the fiscal year ended 30 June 2023 Cash and bank Receivables Long term borrowings-10% Computer equipment Vehicles Land and buildings Sh."million" The NCA had the following estimates and actual revenues were extracted from the books for the fiscal year ended 30 June 2023. Required; 20 600 900 120 L 8,360 90,000 11. Registration fee- Local Contractors Registration fee- Local Engineers Registration fee- Foreign Contractors Registration fee- Foreign Contractors Registration fee- Construction Projects Training fees- Construction workers Site Penalties and fines Approval fee-Construction Projects The revenue accountant had provided for the following additional information: a) Receivables as at June 30, 2023 amounted to sh. 900,000,000 b) Bank balance as at June 30, 2023 was sh. 54,000,000. Sh."million" Sh."millions" BUDGET ACTUAL 400 360 650 c) Interest for the long term loan for the year has not been paid. d) Operating expenses paid during the fiscal year amounted sh. 900,000,000 700 90 400 650 150 Statement of Income and expenditure for the year ended 30 June 2023 Statement of Assets and Liabilities as at 31 June 2023 767 678 987 654 40 445 965 234 The following accounts balances were extracted from the books of NCA, a state corporation for the fiscal year ended 30 June 2023 Cash and bank Receivables Long term borrowings-10% Computer equipment Vehicles Land and buildings Sh."million" The NCA had the following estimates and actual revenues were extracted from the books for the fiscal year ended 30 June 2023. Required; 20 600 900 120 L 8,360 90,000 11. Registration fee- Local Contractors Registration fee- Local Engineers Registration fee- Foreign Contractors Registration fee- Foreign Contractors Registration fee- Construction Projects Training fees- Construction workers Site Penalties and fines Approval fee-Construction Projects The revenue accountant had provided for the following additional information: a) Receivables as at June 30, 2023 amounted to sh. 900,000,000 b) Bank balance as at June 30, 2023 was sh. 54,000,000. Sh."million" Sh."millions" BUDGET ACTUAL 400 360 650 c) Interest for the long term loan for the year has not been paid. d) Operating expenses paid during the fiscal year amounted sh. 900,000,000 700 90 400 650 150 Statement of Income and expenditure for the year ended 30 June 2023 Statement of Assets and Liabilities as at 31 June 2023 767 678 987 654 40 445 965 234
Expert Answer:
Answer rating: 100% (QA)
Calculations for Statement of Income and Expenditure for the Year Ended June 30 2023 Total Income Registration fee Local Contractors Actual Sh 678 mil... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Posted Date:
Students also viewed these accounting questions
-
James pulled together the following annual revenue and cost information for his small business: total variable costs $8,800, total COGS $6,500, total revenues $23,400, total fixed costs $3,700, and...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
c) A consultant was tasked to undertake the design of the Atta Mills road which is a collector road connecting Old Barrier along the Accra-Winneba road to Aplaku. A design speed of 65km/h was used...
-
Displacement vector A(vector) points due east and has a magnitude of 2.00 km. Displacement vector B(vector) points due north and has a magnitude of 3.75 km. Displacement vector C(vector) points due...
-
Natural monochromatic light falls on a system of two crossed Nicol prisms between which a quartz plate cut at right angles to its optical axis is inserted. Find the minimum thickness of the plate at...
-
Run the program. With a main() to run each method(). Use the array[] a = {10, 20, 30}. grape = 30. apple = 20Need code! For each method, write one sentence that describes what the method does,...
-
Your company has just announced a 7 percent price increase on your entire product line and you are meeting with your most important customer. She announces that your competitor has already been to...
-
Aurora Company spent a total of $102,340 in the current period in one of its production centers. In addition, when the production period began, there was work-in-process inventory in the production...
-
The monthly income of investor is $9,000 per month, and up to 30% of the family income can be used to pay back a mortgage loan . His bank offers him a 30-year mortgage loan with a 2.5% interest rate....
-
The following is Wolastoq Tours Limited's unadjusted trial balance at its year end, November 30, 2018. The company adjusts its accounts annually. Additional information: 1. The insurance policy has a...
-
Select one of the three main variances (Direct Materials, Direct Labor, or Variable Overhead) and develop an example of a product cost analysis where both the actual cost per unit (e.g. cost per...
-
The graph in Figure 18.19 shows the height h of a projectile after \(t\) seconds. In Problems 5-8, find the average rate of change of height (in feet) with respect to the requested changes in time...
-
A manufacturer of auto accessories uses three basic parts, A, \(\mathrm{B}\), and \(\mathrm{C}\), in its three products, in the following proportions: The inventory shows 1,250 of part A, 900 of part...
-
Evaluate the limits in Problems 3-7. \(\lim _{n ightarrow \infty}(-1)^{n}\)
-
Evaluate the area function for the functions given in Problems 1-8. Let \(y=2 x\); find \(A(x)\).
-
Given the matrices in Problems 28-31, perform elementary row operations to obtain a zero (or zeros) above and below the 1 in the second column without changing the entries in the first column. [D] =...
-
A. Draw the structure of the major organic product of the reaction below. B. Either the reactant (X) or the major organic product is missing from the equation below. Draw the missing compound. C....
-
The Adjusted Trial Balance columns of a 10-column work sheet for Webber Co. follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by...
-
A firms income tax return shows income taxes for 2017 of $35,000. The firm reports deferred tax assets before any valuation allowance of $24,600 at the beginning of 2017 and $27,200 at the end of...
-
Nojiri Pharmaceutical Industries develops, manufactures, and markets pharmaceutical products in Japan. The Japanese economy experienced recessionary conditions in recent years. In response to these...
-
Microsoft Corporation (Microsoft) and Oracle Corporation (Oracle) engage in the design, manufacture, and sale of computer software. Microsoft sells and licenses a wide range of systems and...
-
Identify and briefly describe the purpose and functions of a management system, work process and organization policy.
-
Identify and briefly explain the three levels of strategy and explain their differences.
-
Identify and describe the meaning of the term's formalization and informal.
Study smarter with the SolutionInn App