PATRIOT ODUNARO BABATUNDE JIMOH (08038454008)
"IN ALL YOUR GETTING GET WISDOM".
NOTICE: STUDENTS DON`T COPY YOURSELVES, JUST BE YOURSELF. IT IS WELL WITH OUR SOUL ALLAHUMO KUNFAYAKUN AMIN.
TO WHOM:
* HND ACCOUNTANCY ( FULL TIME AND PART TIME)
https://britstutors.blogspot.com/search?q=brain
ASSIGNMENT
1. (a) Outline the stages involved in the preparation
of Transcripts.
(b) List out documents required to be transmitted
along with transcripts.
(c) The following balances have been extracted from
the books of Fesojaiye Local
Government Treasury, for the month ended 31 January
2020.
N’000
Reserve Fund 33,500
Cash on hand 53,000
Bank Overdraft 5,700
Revenues (recurrent/capital) 158,500
Expenditures (recurrent/capital) 125,390
Loans 200,000
Deposits into (the L.G.C. Treasury) 23,450
Advances (granted by L.G.C.) 25,560
Investments 15,200
Suspense accounts 202,000
You are required to prepare a trial balance for the
month ended 31January 2020.
BEST OF LUCK!
2. The following balances were extracted from the books
of Alatise State of Nigeria as at 30th September, 2019.
DR CR
N`000 N`000
Cash Account 50,000
Consolidated Revenue Fund 1/1/2019 90,000
Allocation from Federation Account 200,000
Other Revenue 20,000
Personnel Costs 100,000
Ordinary Shares of N1 each in GT Bank Plc 100,000
Deposit 50,000
Advances 60,000
Loans from Federal Government 50,000
Loans to Local Government 60,000
Fixed Deposit –Forum Loans and Saving 40,000
410,000 410,000
The following information is also to be taken into
accounts.
i. N20 million should be transferred to Development
Fund for Capital projects to be embarked upon in the fourth quarter of 2019.
ii. Other charges approved by the Funds Management
Committee and paid during the quarter but which was omitted from the books
amounted to N25 million.
iii. Total Grants of N50 million collected from
Federal Government for capital projects to be embarked upon in the fourth
quarter of 2019 had not been recorded anywhere in the books.
You are required to prepare the following statements
for the third quarter of 2019 for submission to the Governor`s Office.
(a) Consolidated Revenue Fund Account
(b) Development Accounts
(c) Statement No.2 as at that date.
BEST OF LUCK!
