SECTION B ANSWER QUESTION ONE AND TWO OTHER QUESTIONS FROM THE SECTION Question One The Department of Parks and Gardens provides you with the following list of bences and transactions relating to the year 2016. GH Cash and cash equivalent (1/1/2016) 12,000 Advances and loans (1/1/2016 45,200 Investment in securities (1/1/2016) 20,000 Utility accrued (1/1/2016) 5,000 Summary of transactions during the year. Loan granted to staff 23,000 Loan recovered from staff 18,000 Advances recovered 15,000 Investment income received 6,500 Warrant received for compensation for employees 182,000 Warrant received for goods and services 82,500 Warrants recieved for non-financial assets 56,000 Receipt from parks services offered 40,000 Parks services fees yet to be received 15,000 Established post salaries 100,000 Non-established post salaries 42,000 Casual labour cost 16,000 Other emoluments to workers 18,000 Purchase of garden equipment 13,600 Purchase of motor vehicle 27,000 Nursing infrastructure 14,500 Travel and transport 10,000 Utility paid 8,000 Consultancy 15,500 Foreign travels 18,500 Car maintenance allowance 8,000 5,800 Repairs and maintainance 20,200 Other goods purchased 16,000 Other expenditures 4,500 Training and workshops 9,900 Local and international conferences Accumulated Fund (1/1/2016) 72,200 Additional information: Student ID: 1. The Department has recently received a directive from the Controller and Acost General that every Department of government should prepare its mandatory publicat on accrual basis in compliance with relevant global standard. 2. The directive also indicated that consumption of fixed capital (property plant sunt equipment) should be charged on cost at the following rates per annum: Equipment........ ..25%, Motor vehicle .20%, Infrastructure and premises ...10%. All other assets should be at...15%. 3. Wages to casual labour GHc2,500 was outstanding at the end of the year and utility bill was amounting to GHc3,000 was outstanding. . 10 marles You are required to prepare the following public accounts on accrual basis: i) Statement of Receipts and Payments for the year ended 31" December, 2016; ii) Statement of Financial Performance for the year ended 31* December, 2016; iii) Statement of Financial Position as at 31st December, 2016. 10 marks 10 marks (Total: 30 marks