The following data relates to Ministry of Works and Housing for the year ended 31st December 2022.
Question:
The following data relates to Ministry of Works and Housing for the year ended 31st December 2022.
i. Ministry of Works and Housing vote for the year 2022 is GHS900,000,000 analyzed as follows:
GHS000
Compensation 300,000
Goods and Services 300,000
Social Benefits 180,000
Other expenditure 120,000
Less Appropriation in Aid 600
Total 899,400
ii. Authorized appropriation in Aid is estimated as GHS600,000
iii. The Accountant General Department drew from the consolidated fund and paid personnel compensation for the ministry totaling GHS 200,000,000 for the year
iv. Budgetary released direct to Ministry of Works and Housing comprises Goods and Services expenditure, Social Benefits, and other Expenditure amount to GHS 899,400,000
v. Actual expenditure incurred for 2022 are as follows:
GHS000
Compensation paid by CAGD 200,000
Use of Goods & Services 295,000
Social Benefits 197,000
Other Expenditure 140,000
Appropriation in Aid realized GHS 600,000
Surplus cash is to be returned to chest and surrender.
Required:
Prepare the Appropriation Account for the Works and Housing Ministry for the year ended 31st December, 2022.
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson