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Question 2 The trial balance of Mashaba Local Covernment Council as at 31 December 202 is as followe Additional relevant information: i. The underlisted amounts

image text in transcribed Question 2 The trial balance of Mashaba Local Covernment Council as at 31 December 202 is as followe Additional relevant information: i. The underlisted amounts had been erroneously left out: - Market fees $7,500 - Parks and recreation $11,250 (paid) Owing ii. The Reserve fund is 2% of the total internal revenue of the local government. Required a) The revenue account for the year ended December 31, 202X (15 Marks) The statement of asset and liabilities as at December 31, 202X (10 Marks) o meet the requirements of IPSAS 1 in as far as possible)

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