a. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arrears | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Subscription Account
b. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arrears | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Competition Prizes Suppliers Account
c. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arreas | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Competition Trading Account
d. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:
| $ | |
| Receipts: | |
| Subscriptions | 4000 |
| Sale of competition tickets | 800 |
| Donations | 300 |
| Refund of rent | 1000 |
| Payments: | |
| Rent | 3000 |
| Honorarium to speaker | 2200 |
| Secretarial expenses | 200 |
| Donations to charity | 60 |
| Competition prizes | 600 |
| Stationery and printing | 320 |
Additional information:
| 01/01/19 | 31/12/19 | |
| $ | $ | |
| Equipment at valuation | 1950 | 1500 |
| Subscriptions: | ||
| Arreas | 120 | 170 |
| Advance | 30 | 60 |
| Owing to suppliers of competition prizes | 90 | 120 |
| Stock of competition prizes | 70 | 80 |
You are required to prepare for the club and for the year ended 31st December 2019:
Income and Expenditure Account
a. The authorized and issued share capital of Ozideli Limited comprised 400,000 ordinary shares of Le 1 each and 100,000 8% preference shares of Le 1 each. The trial balance at the end of the year was as follows:
Trial Balance as at 31st December 2018
| Dr | Cr | |
| Le | Le | |
| Sales | 1,500,000 | |
| Purchases | 1,000,000 | |
| General expenses | 280,000 | |
| Debenture interest | 8,400 | |
| 7% Debentures | 120,000 | |
| Ordinary share capital | 400,000 | |
| 8% Peference share capital | 100,000 | |
| Plant and machinery at cost | 160,000 | |
| Motor vehicle at cost | 70,000 | |
| Profit and loss account (31/12/17) | 8,600 | |
| Creditors | 172,400 | |
| Debtors | 500,000 | |
| General reserve | 10,000 | |
| Provision for depreciation: | ||
| Plant and Machinery; | 20,000 | |
| Motor vehicle | 10,000 | |
| Bank | 22,600 | |
| Stock (31/12/17) | 300,000 | |
| 2,341,000 | 2,341,000 |
Additional information:
(i) Stock on hand at 31/12/2018 was Le 400,000;
(ii) The directors were to receive remuneration of Le 70,000;
(iii) Depreciation is to be calculated on plant and machinery at Le 32,000 and motor vehicle at Le 14,000;
(iv) The directors decided to transfer Le 12,000 to general reserve;
(v) Preference dividend for 2018 will be paid on 10/01/2019.
You are required to prepare:
Trading, Profit and Loss and Appropriation Account for the year ended 31st December 2018;
b. The authorized and issued share capital of Ozideli Limited comprised 400,000 ordinary shares of Le 1 each and 100,000 8% preference shares of Le 1 each. The trial balance at the end of the year was as follows:
Trial Balance as at 31st December 2018
| Dr | Cr | |
| Le | Le | |
| Sales | 1,500,000 | |
| Purchases | 1,000,000 | |
| General expenses | 280,000 | |
| Debenture interest | 8,400 | |
| 7% Debentures | 120,000 | |
| Ordinary share capital | 400,000 | |
| 8% Peference share capital | 100,000 | |
| Plant and machinery at cost | 160,000 | |
| Motor vehicle at cost | 70,000 | |
| Profit and loss account (31/12/17) | 8,600 | |
| Creditors | 172,400 | |
| Debtors | 500,000 | |
| General reserve | 10,000 | |
| Provision for depreciation: | ||
| Plant and Machinery; | 20,000 | |
| Motor vehicle | 10,000 | |
| Bank | 22,600 | |
| Stock (31/12/17) | 300,000 | |
| 2,341,000 | 2,341,000 |
Additional information:
(i) Stock on hand at 31/12/2018 was Le 400,000;
(ii) The directors were to receive remuneration of Le 70,000;
(iii) Depreciation is to be calculated on plant and machinery at Le 32,000 and motor vehicle at Le 14,000;
(iv) The directors decided to transfer Le 12,000 to general reserve;
(v) Preference dividend for 2018 will be paid on 10/01/2019.
You are required to prepare:
Balance sheet as at that date
a. Omuga District Council made the following payments for 2020.
| Heads | Particulars | Amount (D) |
| 20011 | Construction of market stalls | 100,000 |
| 20021 | Maintenance of roads | 30,000 |
| 20031 | Construction of health centre | 120,000 |
| 20041 | Repair of vehicle | 10,000 |
| 20051 | Sinking of borehole | 80,000 |
| 20061 | Lubricants | 20,000 |
| 20071 | Purchase of ambulance | 60,000 |
| 20081 | Electricity bills | 15,000 |
| 20091 | Office equipment and machines | 20,000 |
| 20101 | Yellow fever vaccine | 12,000 |
| 20111 | Construction of laboratory | 130,000 |
| 20121 | Servicing of generator | 5,000 |
| 20141 | Traveling expenses | 10,000 |
| 20161 | Stationery | 5,000 |
| 20131 | Purchase of hospital equipment | 90,000 |
| 20151 | Purchase of generator | 40,000 |
| 20171 | Purchase of water treatment plant | 110,000 |
| 20181 | Drugs for health centre | 30,000 |
| 20191 | Purchase of office furniture | 80,000 |
| 20201 | Environmental sanitation | 40,000 |
| 20221 | Staff benefit | 20,000 |
| 20211 | Construction of day care centre | 110,000 |
| 20231 | Construction of toilets | 60,000 |
| 20241 | Telephone expenses | 12,000 |
| 20251 | Provision of street lights | 90,000 |
| 20261 | Refuse disposal | 30,000 |
| 20281 | Salaries | 100,000 |
| 20301 | Hospitality expenses | 30,000 |
You are required to prepare for the year ended 31st December 2020:
Statement of Capital Expenditure
b. Omuga District Council made the following payments for 2020.
| Heads | Particulars | Amount (D) |
| 20011 | Construction of market stalls | 100,000 |
| 20021 | Maintenance of roads | 30,000 |
| 20031 | Construction of health centre | 120,000 |
| 20041 | Repair of vehicle | 10,000 |
| 20051 | Sinking of borehole | 80,000 |
| 20061 | Lubricants | 20,000 |
| 20071 | Purchase of ambulance | 60,000 |
| 20081 | Electricity bills | 15,000 |
| 20091 | Office equipment and machines | 20,000 |
| 20101 | Yellow fever vaccine | 12,000 |
| 20111 | Construction of laboratory | 130,000 |
| 20121 | Servicing of generator | 5,000 |
| 20141 | Traveling expenses | 10,000 |
| 20161 | Stationery | 5,000 |
| 20131 | Purchase of hospital equipment | 90,000 |
| 20151 | Purchase of generator | 40,000 |
| 20171 | Purchase of water treatment plant | 110,000 |
| 20181 | Drugs for health centre | 30,000 |
| 20191 | Purchase of office furniture | 80,000 |
| 20201 | Environmental sanitation | 40,000 |
| 20221 | Staff benefit | 20,000 |
| 20211 | Construction of day care centre | 110,000 |
| 20231 | Construction of toilets | 60,000 |
| 20241 | Telephone expenses | 12,000 |
| 20251 | Provision of street lights | 90,000 |
| 20261 | Refuse disposal | 30,000 |
| 20281 | Salaries | 100,000 |
| 20301 | Hospitality expenses | 30,000 |
You are required to prepare for the year ended 31st December 2020:
Statement of Revenue Expenditure
a. Ade, a trader had the following balances in the creditors ledger on October 31, 2020.
| GH⊄ | |
| Kristy | 4200 |
| Erica | 8700 |
b. Ade, a trader had the following balances in the creditors ledger on October 31, 2020.
| GH⊄ | |
| Kristy | 4200 |
| Erica | 8700 |
The following transactions took place in November 2020:
| November | GH⊄ | |
| 4 | Goods bought from Kofi | 17400 |
| 4 | Returned goods to Erica | 1500 |
| 10 | Goods returned to Kofi | 900 |
| 16 | Goods bought from Mary | 10500 |
| 21 | Goods bought from Kofi | 14100 |
| 23 | Payment to Kristy after deducting discount of GH⊄ 300 | 3900 |
| 27 | Payment to Erica after deducting discount of GH⊄ 600 | 6600 |
All purchases were on credit while all payments made through the bank
You are required to prepare:
The individual creditors account
