Below is the trail balance of Information Service Department under Ministry of Communication.

Trial Balance as at 31st December 2019

	Debit GHc'000	Credit GHc'000
Compensation for employees		100,000
Goods and services		80,000
Assets		50,000
Bank and cash	10,000
Advances and loans	40,220
Fixed deposit investment	30,560
Receivables	1,260
Sundry payables		46,700
Other liabilities		5,980
Established Post	74,500
Casual labour	12,000
Contract appointments	8,000
Secondment	2,300
Pension payment	4,000
Travel and transport	10,000
General cleaning	16,700
Seminar and workshops	5,500
Local consultancy	11,600
Rent	3,800
Printing and publication	3,980
Repairs and maintenance	2,870
Office consumables	2,160
Foreign travels	10,980
Non-financial assets	38,700
Accumulated depreciation		16,700
Internally generated revenues		28,000
Donor supports		7,000
Other expenditures	21,000
Accumulated fund	24,250
	334380	334380

 

 

Further information:

a) Electricity expenses outstanding at 31st December 2019 amounted to GHc1,230,000 and consultancy fees paid in advance amounted to GHc3,000,000.

b) Casual labour arrears for the year was GHc500,000.

c) Consumption of fixed capital of GHc 8, 350,000 was to be charged for the year.

d) Services provided to TV3 and GTV amounting to GHc4,400,000 was not received at 31st December 2019.

e) Allowances for uncollectible receivables of GHc 950,000 is to be made.

 

Required: 

Prepare in a form suitable for publication:

i) Statement of Revenue and Expenditure of the Department for the year ended 31st December 2019;

ii) Statement of Financial Position as at 31st December 2019.

iii) Notes to the accounts.