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14 Below is list of transactions extracted from the books of Controller and Accountant General relating to the Consolidated Funds during the year ended December
14 Below is list of transactions extracted from the books of Controller and Accountant General relating to the Consolidated Funds during the year ended December 31, 2019. GHC'000 Income taxes 125,500 Value added taxes 215,500 Fees and charges 55,000 Purchase of goods and services 62,200 Payment of personal emolument 75,000 Payment of judgment debt 20,450 Petroleum revenue 102,500 Payment to contractors 60,500 Purchase of motor vehicles 12,400 Domestic debt 90,400 Bilateral debt 60,200 Repayment of multilateral borrowing 15,500 Multilateral borrowings 50,200 Purchase of computer and accessories 5,000 Royalties received 18,800 Other taxes 41,300 Purchase equity in Better Ghana Company 85,500 Proceeds from sale of security investment 25,000 Interest received from investment 8,000 Transfers to District Assembly Common Fund 55,000 Transfer to Ghana Educational Trust Fund 45,500 Repayment of domestic borrowing 30,000 Repayment of Bilateral debt 10,500 Interest paid on debt 8,800 Donor support received 12,000 Auction proceeds from old vehicles 4,500 Court fines received 600 Required: a) Prepare a Cash Flow Statement of the Consolidated Fund for the year ended 31 December 2019 in accordance with IPSAS 2 using the direct method. b) Outline four (4) benefits of including cash flow statement in the general-purpose financial reports of a public sector entity
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