From the following information you are required toprepare Statement of revenues, expenditure andchanges in fund balances, other financing sourcesand statement of net assets1. City has levied taxes worth RO 850000 out ofwhich RO 75% has been collected.2. City issued RO 750000 worth of bonds of RO 10each at a discount of 10%.3. City has received Grants worth RO 125000 aspart of capital project fund4. Issued RO 200000 long term bonds for thepurpose of constructing government office.5. Service department has earned RO 75000 out ofwhich 25000 has not been received.6. Service department has billed the otherdepartment RO 50000 out of which RO 10000has not been paid.

Particulars Statement of Revenue Statement of Expenditure Changes in fund…

From the following information you are required t prepare Statement of revenues, expenditure and changes in fund balances, other financing source and statement of net assets 1. City has levied taxes worth RO 850000 out o which RO 75% has been collected. 2. City issued RO 750000 worth of bonds of RO 10 each at a discount of 10%

From the following information you are required t prepare Statement of revenues, expenditure and changes in fund balances, other financing source and statement of net assets 1. City has levied taxes worth RO 850000 out o which RO 75% has been collected. 2. City issued RO 750000 worth of bonds of RO 10 each at a discount of 10%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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