Question Four Better Life Lid operates retail stores in Kumasi (which is the head office) and Teshie (which is the branch) A trial balance prepared as at 31 December 2009 showed the following position: Better Life Lid Trial Balance as at 31 December 2009 Head Office Branch Debit Credit Debt Credit Stated Capital 250.000 Capital Surplus Income Surplus 1 Jan 2009 55.000 Debtors Creditors 47,500 35.000 14700 7,200 Head office Current Account 51.500 Goodwil at cost 75,000 38 Am 50,000 20,000 6,400 10.100 3,600 229,700 Goodwill at cost 75,000 Land and Buildings at cos! 175,000 Fixtures and fittings at cost 50,000 Motor Vehicles at cost 45,000 Accumulated Depreciation: 31 Dec 2009 Fixtures Motor Vehicles Stock at cost or mark up (1 Jan. 2009) 48,500 Bank and cash 15,900 Purchases and sales 255,000 Administration expenses 25,500 Selling and Distribution expenses 10,500 Depreciation: Fixtures 2,500 Motor vehicles 3,000 Prov. for unrealized profit on stocks (1/1/03) Branch current account 60,000 Professional expenses 5,400 Goods sent to branch 818,800 15,400 3,100 148,500 9,500 2,100 1.000 199,700 1,400 500 154,000 818.800 264,800 264,800 Additional Information All goods sold by the branch are supplied from head office at cost plus 10%. A1 31 st December 2009. goods to the value of c5,500 were in transit to the branch. m) The branch deposited 43,000 on behalf of head office in the local branch of the company's bankers on 30th December 2009. No record of this transaction had been made in Head Office books iii) Stocks at 31 December 2009 excluding the goods in transit, wete as follows: Head office (at cost) 54,500 Branch (at mark up) 17,600 Aman iv) Corporate profit tax rate applicable to Better Life Ltd is 30% Required: From the information given, prepare in columnar form to show the results for Head Office, Branch and Combined Entity. a) Income Statement for the year ended 31 December 2009, and b) A Statement of Financial positions at that date. QUESTION ONE Discuss how the emerging accountancy tool that applies cognitive intelligence to generate a mental image of a phenomenon and also relies on learning, mostly established on preceding experiences to inform future decisions be adopted to aid University of Professional Studies, Accra (UPSA) to gain a competitive edge over its competitors in the same industry. Are there any barriers to how this competitive advantage using this emerging tool could be harnessed by University of Professional Studies, Accra (UPSA)? QUESTION TWO Discuss how businesses in the Madina Municipality could adopt Machine Learning tools to make them more profitable than other businesses in Ghana. Relate your answers to a particular industry QUESTION THREE The La Nkwantanang Municipal Assembly has been suffering huge financial losses since its creation on 23 September, 1987. At least GHS20 million is lost annually in all sections of the civil service through fraud (Daily Grapahic, July 18 - 20, 1997). Other problems include the following: i. Lack of a good accounting information system ii. Delay in the payment of salaries to staff. The District Chief Executive is asserting that the introduction of a well-coordinated computerised accounting information system could help turn the situation around. As a student, argue for or against the Governor's assertion