Question Six b) OTL Ltd commenced business on 1 January 2015. The head office is in Ghana and there is a branch in Nigeria. The currency unit of Nigeria is the Naira (A). Additional Information: The trial balance of the head office was prepared before any entries had been made in respect of any profits or losses of the branch. Remittances from head office to branch and from branch to head office were recorded in the books at the actual amounts paid and received. The rates of exchange were: On 1 January 2015N80=GH1 Average rate for year 2015N70.4=GH1 On 31 December 2015N64=GH1 Required: i) Prepare the Trial Balance of the Nigeria branch as at 31 December 2015, in Ghana cedi; ii) The closing entries, as at 31 December 2015, in the branch account in the books of the head office; and a summary of the Statement of Financial Position of OTL Ltd as at 31 December 2015. Question Six b) OTL Ltd commenced business on 1 January 2015. The head office is in Ghana and there is a branch in Nigeria. The currency unit of Nigeria is the Naira (A). Additional Information: The trial balance of the head office was prepared before any entries had been made in respect of any profits or losses of the branch. Remittances from head office to branch and from branch to head office were recorded in the books at the actual amounts paid and received. The rates of exchange were: On 1 January 2015N80=GH1 Average rate for year 2015N70.4=GH1 On 31 December 2015N64=GH1 Required: i) Prepare the Trial Balance of the Nigeria branch as at 31 December 2015, in Ghana cedi; ii) The closing entries, as at 31 December 2015, in the branch account in the books of the head office; and a summary of the Statement of Financial Position of OTL Ltd as at 31 December 2015