1

a. Ade, a trader had the following balances in the creditors ledger on October 31, 2020.

	GH⊄
Kristy	4200
Erica	8700

b. Ade, a trader had the following balances in the creditors ledger on October 31, 2020.

	GH⊄
Kristy	4200
Erica	8700

The following transactions took place in November 2020:

November		GH⊄
4	Goods bought from Kofi	17400
4	Returned goods to Erica	1500
10	Goods returned to Kofi	900
16	Goods bought from Mary	10500
21	Goods bought from Kofi	14100
23	Payment to Kristy after deducting discount of GH⊄ 300	3900
27	Payment to Erica after deducting discount of GH⊄ 600	6600

All purchases were on credit while all payments made through the bank

You are required to prepare:

The individual creditors account

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2

a. Omuga District Council made the following payments for 2020.

Heads	Particulars	Amount (D)
20011	Construction of market stalls	100,000
20021	Maintenance of roads	30,000
20031	Construction of health centre	120,000
20041	Repair of vehicle	10,000
20051	Sinking of borehole	80,000
20061	Lubricants	20,000
20071	Purchase of ambulance	60,000
20081	Electricity bills	15,000
20091	Office equipment and machines	20,000
20101	Yellow fever vaccine	12,000
20111	Construction of laboratory	130,000
20121	Servicing of generator	5,000
20141	Traveling expenses	10,000
20161	Stationery	5,000
20131	Purchase of hospital equipment	90,000
20151	Purchase of generator	40,000
20171	Purchase of water treatment plant	110,000
20181	Drugs for health centre	30,000
20191	Purchase of office furniture	80,000
20201	Environmental sanitation	40,000
20221	Staff benefit	20,000
20211	Construction of day care centre	110,000
20231	Construction of toilets	60,000
20241	Telephone expenses	12,000
20251	Provision of street lights	90,000
20261	Refuse disposal	30,000
20281	Salaries	100,000
20301	Hospitality expenses	30,000

You are required to prepare for the year ended 31st December 2020:

Statement of Capital Expenditure

b. Omuga District Council made the following payments for 2020.

Heads	Particulars	Amount (D)
20011	Construction of market stalls	100,000
20021	Maintenance of roads	30,000
20031	Construction of health centre	120,000
20041	Repair of vehicle	10,000
20051	Sinking of borehole	80,000
20061	Lubricants	20,000
20071	Purchase of ambulance	60,000
20081	Electricity bills	15,000
20091	Office equipment and machines	20,000
20101	Yellow fever vaccine	12,000
20111	Construction of laboratory	130,000
20121	Servicing of generator	5,000
20141	Traveling expenses	10,000
20161	Stationery	5,000
20131	Purchase of hospital equipment	90,000
20151	Purchase of generator	40,000
20171	Purchase of water treatment plant	110,000
20181	Drugs for health centre	30,000
20191	Purchase of office furniture	80,000
20201	Environmental sanitation	40,000
20221	Staff benefit	20,000
20211	Construction of day care centre	110,000
20231	Construction of toilets	60,000
20241	Telephone expenses	12,000
20251	Provision of street lights	90,000
20261	Refuse disposal	30,000
20281	Salaries	100,000
20301	Hospitality expenses	30,000

You are required to prepare for the year ended 31st December 2020:

Statement of Revenue Expenditure

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3

a. The authorized and issued share capital of Ozideli Limited comprised 400,000 ordinary shares of Le 1 each and 100,000 8% preference shares of Le 1 each. The trial balance at the end of the year was as follows:

Trial Balance as at 31st December 2018

	Dr	Cr
	Le	Le
Sales		1,500,000
Purchases	1,000,000
General expenses	280,000
Debenture interest	8,400
7% Debentures		120,000
Ordinary share capital		400,000
8% Peference share capital		100,000
Plant and machinery at cost	160,000
Motor vehicle at cost	70,000
Profit and loss account (31/12/17)		8,600
Creditors		172,400
Debtors	500,000
General reserve		10,000
Provision for depreciation:
Plant and Machinery;		20,000
Motor vehicle		10,000
Bank	22,600
Stock (31/12/17)	300,000
	2,341,000	2,341,000

Additional information:
(i) Stock on hand at 31/12/2018 was Le 400,000;
(ii) The directors were to receive remuneration of Le 70,000;
(iii) Depreciation is to be calculated on plant and machinery at Le 32,000 and motor vehicle at Le 14,000;
(iv) The directors decided to transfer Le 12,000 to general reserve;
(v) Preference dividend for 2018 will be paid on 10/01/2019.

You are required to prepare:

Trading, Profit and Loss and Appropriation Account for the year ended 31st December 2018;

b. The authorized and issued share capital of Ozideli Limited comprised 400,000 ordinary shares of Le 1 each and 100,000 8% preference shares of Le 1 each. The trial balance at the end of the year was as follows:

Trial Balance as at 31st December 2018

	Dr	Cr
	Le	Le
Sales		1,500,000
Purchases	1,000,000
General expenses	280,000
Debenture interest	8,400
7% Debentures		120,000
Ordinary share capital		400,000
8% Peference share capital		100,000
Plant and machinery at cost	160,000
Motor vehicle at cost	70,000
Profit and loss account (31/12/17)		8,600
Creditors		172,400
Debtors	500,000
General reserve		10,000
Provision for depreciation:
Plant and Machinery;		20,000
Motor vehicle		10,000
Bank	22,600
Stock (31/12/17)	300,000
	2,341,000	2,341,000

Additional information:
(i) Stock on hand at 31/12/2018 was Le 400,000;
(ii) The directors were to receive remuneration of Le 70,000;
(iii) Depreciation is to be calculated on plant and machinery at Le 32,000 and motor vehicle at Le 14,000;
(iv) The directors decided to transfer Le 12,000 to general reserve;
(v) Preference dividend for 2018 will be paid on 10/01/2019.

You are required to prepare:

Balance sheet as at that date

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4

a. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:

	$
Receipts:
Subscriptions	4000
Sale of competition tickets	800
Donations	300
Refund of rent	1000
Payments:
Rent	3000
Honorarium to speaker	2200
Secretarial expenses	200
Donations to charity	60
Competition prizes	600
Stationery and printing	320

Additional information:

	01/01/19	31/12/19
	$	$
Equipment at valuation	1950	1500
Subscriptions:
Arrears	120	170
Advance	30	60
Owing to suppliers of competition prizes	90	120
Stock of competition prizes	70	80

You are required to prepare for the club and for the year ended 31st December 2019:

Subscription Account

b. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:

	$
Receipts:
Subscriptions	4000
Sale of competition tickets	800
Donations	300
Refund of rent	1000
Payments:
Rent	3000
Honorarium to speaker	2200
Secretarial expenses	200
Donations to charity	60
Competition prizes	600
Stationery and printing	320

Additional information:

	01/01/19	31/12/19
	$	$
Equipment at valuation	1950	1500
Subscriptions:
Arrears	120	170
Advance	30	60
Owing to suppliers of competition prizes	90	120
Stock of competition prizes	70	80

You are required to prepare for the club and for the year ended 31st December 2019:

Competition Prizes Suppliers Account

c. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:

	$
Receipts:
Subscriptions	4000
Sale of competition tickets	800
Donations	300
Refund of rent	1000
Payments:
Rent	3000
Honorarium to speaker	2200
Secretarial expenses	200
Donations to charity	60
Competition prizes	600
Stationery and printing	320

Additional information:

	01/01/19	31/12/19
	$	$
Equipment at valuation	1950	1500
Subscriptions:
Arreas	120	170
Advance	30	60
Owing to suppliers of competition prizes	90	120
Stock of competition prizes	70	80

You are required to prepare for the club and for the year ended 31st December 2019:

Competition Trading Account

d. The summary of the Receipts and Payments of the Adamfo Social Club for the year ended 31st December 2019 is as follows:

	$
Receipts:
Subscriptions	4000
Sale of competition tickets	800
Donations	300
Refund of rent	1000
Payments:
Rent	3000
Honorarium to speaker	2200
Secretarial expenses	200
Donations to charity	60
Competition prizes	600
Stationery and printing	320

Additional information:

	01/01/19	31/12/19
	$	$
Equipment at valuation	1950	1500
Subscriptions:
Arreas	120	170
Advance	30	60
Owing to suppliers of competition prizes	90	120
Stock of competition prizes	70	80

You are required to prepare for the club and for the year ended 31st December 2019:

Income and Expenditure Account

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5

a. The cash book of Dupe Enterprises showed an overdrawn balance of #216,126 and her bank statement also showed #905,625 overdrawn. On 31/12/2016, a detailed examination of the records showed the following differences:

(i) A cheque drawn for #697,550 had been entered in the cash book as #365,050.

(ii) A standing order of #420,000 and bank charges of #8,750 entered in the bank statement has not been recorded in the cash book.

(iii) Bank lodgment of #1,922,375 on 27th December 2016 has not been credited by the bank.

(iv) Dividend received of #315,000 had been recorded in the bank but not entered in the cash book.

(v) Cheques paid to suppliers totalling #1,165,500 has not been presented for payment.

(vi) A cheque for #700,000 received from Tunde was dishonoured by the banki but no entry had been made in the cash book.

(vii) A cheque of #256,813 received from a customer was entered as a payment in the cash book.

(viii) A cheque for #350,000 recorded in Dupe Enterprises cash book had been credited by the bank to Dudu Enterprises’ account.

(ix) An amount of #1,050,000 received from customer was paid directly to Dupe Enterprises account but no entry was made in the cash book.

You are required to prepare:

Dupe Enterprises Adjusted Cash Book

b. The cash book of Dupe Enterprises showed an overdrawn balance of #216,126 and her bank statement also showed #905,625 overdrawn. On 31/12/2016, a detailed examination of the records showed the following differences: