Distinguish between commitment accounting and fund accounting in relation to public sector accountin - a Distinguish between commitment accounting and

Distinguish between commitment accounting and fund accounting in relation to public sector accountin

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a) Distinguish between commitment accounting and fund accounting in relation to public sector accounting. (4mks) b) The city of Mombasa fiscal period ends on 30 th June. The trial balance of the general fund as at 1 st July 19x7 was as follows Dr Cr £ £ Cash balance 12600 Saving A/c 66800 Property tax receivable 480000 Accounts payable 7300 NWages Payable 4450 Fund balance ______ 548250 560000 560000 The operations for the year ended 30 th June 19x8 were as follows; (i) Estimated revenues £2,400,000; appropriations £2,350,000 (ii) Revenues from property tax levy £1,925,500 (iii) Cash received from property taxes £2,005,600 and other revenues £485,700
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  • Spring '17
  • Dr.Agnes Meroka

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