1 of 3 PRACTICE QUESTION Q1. A Municipal Assembly's records shows the following account balances. GHC Rates Grants for capital Fees Social benefits Rent of land and other properties Licenses Capital expenditure Fines, penalties and forfeits Compensation of employees Lands and royalties Grants for recurrent expenditure Miscellaneous revenue Other expenses Use of goods and services. Investment Debtors Staff welfare Staff advances Cash at bank Accumulated fund 31/12/2020 Creditors Deposit Cash in hand i. ii. iv. 10,529,984 2,118,783 3,587,218 111,761 35,029 5,882,250 10,281,099 143,742 12,370,688 3,067,230 9.979.120 46,849 A Trial Balance A Statement of Revenue and Expenditure A Statement of Reserves and A Statement of Financial Position 1,446,299 11,493,516 Required: You are to prepare for the Assembly for the period, 31st December 2021 33,835 3,452,712 1,599 13,835 1,656,080 5,442,123 38,738 3,155 15,995