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The trial balance below relates to the Consolidated Fund for the year ended 31 st December, 2019. GHc'000 GHc'000 Indirect Taxes 120,300 Direct Taxes 85,000

The trial balance below relates to the Consolidated Fund for the year ended 31st December, 2019.

GHc'000

GHc'000

Indirect Taxes

120,300

Direct Taxes

85,000

Non taxe revenues

60,000

Compensation for employees

76,000

Goods and services

45,000

Consumption of fixed consumption

24,000

Loans and advances

30,000

Bank and cash balances

12,000

Equity investment

40,000

Domestic debt

90,500

External debt

110,000

Trust fund

50,000

Sundry creditors

24,500

Other expenditures

20,000

Public debt interest

33,000

Social benefit

12,000

Grants

20,000

Subsidies

12,000

Accumulated Fund (1/12/16)

216,300

540300

540,300

Required:

1. Prepare Statement of Revenue and Expenditure for the Consolidated Fund for the year ended 31st December, 2019.

2. Prepare Statement of Financial Position as at 31st December, 2019.

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