The Muscat City for the year 2019 maintain two funds: a General Fund accounts for its unrestricted resources and general operations, and a Proprietary funds for internal services and State Enterprises. The Muscat City has provided the following financial information for the year 2019 for you to prepare r journal entries in the relevant funds separately. As the crude oil price in the international market has come down from the budgeted 58 $ per barrel to 23$ per barell, City has decided to borrow 2 million OMR from the world bank IMF to address the increasing deficit in the budget. The City levied $ 1 million of general property taxes of which it actually collected $ 0.4 million. The City decided to set up its own printing and publishing department by investing OMR 0.8 million but the services will be available only for government units, but not free of cost. City government also transferred 0.80 million as an investment for automation and diversification of the services of Muscat Airport Authority. As the Citys sewage system is outdated and needs to be improved, City requested the national government for financial assistance in the form of grant. The national government approved a grant of OMR 2.5 million for the purpose. To improve Citys operational efficiency and services to the society, it has been decided to construct a purpose built building to accommodate its main office. As it involves huge amount of OMR 2.4 million, City has decided to borrow the fund from the public and financial institutions by issuing bonds in the local and international market. The City issued OMR 4.5 million in long-term Bonds for operational expenditure to cover up the deficit due to the unexpected fall in the prices of crude oil. The proceeds must be used for the day to day expenditure of the government.Using the bond issue proceeds, the City signed an agreement with one of the leading construction company to construct the main office. The cost of the construction amounts to OMR 2.20. The City also transferred $ 0.07 million to Debt Service Fund as the first payment towards the principal and interest of its bonds issued for operational expenditure. The City signed a contract for OMR 2 million to improve the sewage system of the city. The printing and publishing department billed the City for the services and goods delivered OMR 0.15. Payment of salary and other allowances by the City government to the government employees OMR 1.25 million Transferred OMR 0.4 million to a fund which will remain intact except the revenue and interest accrued on it. Reported the completion of a portion of the sewage work , duly approved by the City.and payment has been made OMR 1.75 million Disputes occurred between the City and the Company regarding the completion of the remaining sewage work, and it has been mutually agreed to cancel the rest of the work in the contract. Pass necessary Journal entries in the books of Muscat City under the relevant funds separately both governmental funds and proprietary funds ( 5marks) Using the information available above, prepare: (only governmental fund) A statement of Revenues, Expenditure and changes in Fund Balance of Muscat City for the year 2019. (3marks) A Balance sheet of Muscat City for the same period. ( 2 marks)

UNIVERISTY OF TECHNOLOGY & APPLIED SCIENCES DEPARTMENT OF BUSINESS STUDIES BAAC: 3203 GOVERNMENT ACCOUNTING ASSIGNMENT Marks:30 Task: 1( 10 marks) Ibu Musual Caly for Uw yw 2019 siulau two funds: Gual Find numes for its sluted Icours and postal postus, mud u Prepaily Cuads for incomal wervices and Stale Eulezius. The Muscal Citylus provided to following limul omatica for the year 2019 Lue you to pop joutual caulics at besvlevant foods separately, As the nude oil price in the international marker has come down from the Indgeted 58 5 per barrel to 2.35 per harell, Ciry has decided a barow 2 million OVR tiom the world hank IMT to address the increasing deficit in the budget. The City lidi ulion of grantul property taxes of which it actually collected $ 0.1 million. The Cily decided to set up its owaiting and publishing att by investing OMR 0.8 uiluu but the services will be available waly for you wils, but wol Low of vuol City paremment also transferred 4.0 million as an investment for Automation and diversification of the services at Masat Airport Authority, As Ibu Cily's seway syslu. is outdated and aweds to be a provod, City vyuusled u waliona YUYCD Tur lawer assistance in be folur olan. The wional yorul approved a gun of OMR 2.5 million cu un puspose. To porc City's opvalaual olicacicy and services to the sociery, it has been decided to content a parpose balbulding to accommodate its main attice As it involves insge amount of OMR 2.4 million, City has decided to horrow the fund from the public and financial institutions hy issuing bands in the local and international market The Caly assued OMK1.5 uullion in luylu Bouds lus peculi expustu Vurup the de Guil duc lo lhe awapecled Call be perces of caudu vil. Tlu provode s usud ur le day lo day expenditure of the Sun Using uu buod issuc proceeds, ibs Cily sigud 2012 OCIKALI with one of the leading construction enimpany to construct the main ottice. The cost of the nostretian amounts to OMR 2.20 The City also transferred $ 0.07 million to Delyt Service Tyd As the first payment towards the principal and interest of its band issued for operational expenditure. The City signed a nitract for OMR 2 million to improve the sewage system of the city. The printing and publishing Jepalasal billed ibe Cily Cur be worses and youds delivered OMR 0.15. Payon of what mad ullur allow me by Ibu City you calumul to the governanca ceployecs OMR 1.25 uullion Transferred OVR 0.4 million ton thund which will remain intact except the revenue and interest necnied on it. Reported the completion of a portion of the sewage work, duly approved by the City and payment has been made OMR 1.75 million Daspules escued between the city and du Coupany watching to complica of Ibu Evang Senince work, and it has been minully agreed to cancel the rest of the work in the contrnet. 3 Pats necessary Tournal entries in the hooks of Muscat Citywider the relevant finds separately both pavenmental funds and proprietary funds (Smart) Using the information Available above, prepare: (anly gaverni vental fiand) Astalacaul of Rocus, Expcditar and cluyes al Fuod Balabo of Musual City for Uw yun 2009 ( 3ks) A Balance sheet of Muscat City fue le muu paio. (2 ularks) UNIVERISTY OF TECHNOLOGY & APPLIED SCIENCES DEPARTMENT OF BUSINESS STUDIES BAAC: 3203 GOVERNMENT ACCOUNTING ASSIGNMENT Marks:30 Task: 1( 10 marks) Ibu Musual Caly for Uw yw 2019 siulau two funds: Gual Find numes for its sluted Icours and postal postus, mud u Prepaily Cuads for incomal wervices and Stale Eulezius. The Muscal Citylus provided to following limul omatica for the year 2019 Lue you to pop joutual caulics at besvlevant foods separately, As the nude oil price in the international marker has come down from the Indgeted 58 5 per barrel to 2.35 per harell, Ciry has decided a barow 2 million OVR tiom the world hank IMT to address the increasing deficit in the budget. The City lidi ulion of grantul property taxes of which it actually collected $ 0.1 million. The Cily decided to set up its owaiting and publishing att by investing OMR 0.8 uiluu but the services will be available waly for you wils, but wol Low of vuol City paremment also transferred 4.0 million as an investment for Automation and diversification of the services at Masat Airport Authority, As Ibu Cily's seway syslu. is outdated and aweds to be a provod, City vyuusled u waliona YUYCD Tur lawer assistance in be folur olan. The wional yorul approved a gun of OMR 2.5 million cu un puspose. To porc City's opvalaual olicacicy and services to the sociery, it has been decided to content a parpose balbulding to accommodate its main attice As it involves insge amount of OMR 2.4 million, City has decided to horrow the fund from the public and financial institutions hy issuing bands in the local and international market The Caly assued OMK1.5 uullion in luylu Bouds lus peculi expustu Vurup the de Guil duc lo lhe awapecled Call be perces of caudu vil. Tlu provode s usud ur le day lo day expenditure of the Sun Using uu buod issuc proceeds, ibs Cily sigud 2012 OCIKALI with one of the leading construction enimpany to construct the main ottice. The cost of the nostretian amounts to OMR 2.20 The City also transferred $ 0.07 million to Delyt Service Tyd As the first payment towards the principal and interest of its band issued for operational expenditure. The City signed a nitract for OMR 2 million to improve the sewage system of the city. The printing and publishing Jepalasal billed ibe Cily Cur be worses and youds delivered OMR 0.15. Payon of what mad ullur allow me by Ibu City you calumul to the governanca ceployecs OMR 1.25 uullion Transferred OVR 0.4 million ton thund which will remain intact except the revenue and interest necnied on it. Reported the completion of a portion of the sewage work, duly approved by the City and payment has been made OMR 1.75 million Daspules escued between the city and du Coupany watching to complica of Ibu Evang Senince work, and it has been minully agreed to cancel the rest of the work in the contrnet. 3 Pats necessary Tournal entries in the hooks of Muscat Citywider the relevant finds separately both pavenmental funds and proprietary funds (Smart) Using the information Available above, prepare: (anly gaverni vental fiand) Astalacaul of Rocus, Expcditar and cluyes al Fuod Balabo of Musual City for Uw yun 2009 ( 3ks) A Balance sheet of Muscat City fue le muu paio. (2 ularks)