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URA has the following entries summarized as below Balance b/f from...

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Accounting

URA has the following entries summarized as below
Balance b/f from Sep35,000,000
Receipts
Grant for October 2023130,000,0000
Income tax200,000,000
Penalties20,000,000
Market Dues35,000,000
Payments
Salaries for October150,000,000
Material for October140,000,000
Stationery20,000,0000
Material for use in November10,000,000
The following transaction were also recorded
Unpaid stationary used in October40,000,000
Prepaid Materials35,000,000
Unpaid materials used in November30,000,000
Outstanding material for Oct20,000,000
Accrual stationary for November30,000,000
Material ordered for but not yet delivered by the end of October was100,000,000
Material not paid for, for use in October45,000,000
URA is entitled to a monthly grant of250,000,000
Required; prepare financial statement for NWSC for the month of October 2023 using the following accounting method
- Cash basis(4 marks )
- Accrual basis(12 marks)
- Commitment basis(14 marks)

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