The following are the balances extracted from the Public Accounts on the Consolidated Fund of the Government of Ghana for the year ended 31 December, 2019

GHS Million Direct Tax 100,000 Indirect Tax 150,000 Grants from Bilateral Partners 25,000 Grants from Multilateral Partners 320,000 Other Grants Received 10,000 Royalties 8,000 Fees and Fines 2,000 Interest Income 400 Seminar and Training 22,000 Local Consultancy 34,000 Foreign Consultancy 23,000 Travel and Transport 6,000 Travel Allowances 56,000 Established Post Salaries 220,000

Non Established Post 80,000 End of Service Benefits 120,000 Car Maintenance Allowances 40,000 Other Staff Costs 12,000 Cleaning Costs 3,000 Office Consumables 5,000 Subsidies 10,000 Social Benefit Cost 35,000 Grants to Local Government 60,000 Property Plant and Equipment at Cost 400,000 Accumulated Consumption of PPEs 45,000 Investments 80,000 Loans and advances 20,000 Cash and equivalent 36,000 Other expenditures 15,000 Domestic Debt 180,000 External Debt 320,000 Interest Expense 40,000 Accumulated Fund (CR) 156,000 Additional Information i) It is the policy of government to charge consumption of fixed capital on cost. Property plant and equipment is consumed at the rate of 20% per annum ii) Fees amounting to GHS 20,000,000,000 was earned but not received as at 31 December, 2019 iii) Staff allowances of GHS 500,000,000 remained unpaid at the end of the year Required: Prepare in compliance to the IPSAS and the Public Financial Management Act 2016 (Act 921) for the Consolidated Fund a. Statement of Revenue and Expenditure for the year ended 31 December, 2019 (5 marks) b. Statement of Financial Position as at 31 December, 2019 (5 marks) c. Notes to the accounts (5 marks) (Total 15 marks)