URA has the following entries summarized as below
Balance bf from Sep
Receipts
Grant for October
Income tax
Penalties
Market Dues
Payments
Salaries for October
Material for October
Stationery
Material for use in November
The following transaction were also recorded
Unpaid stationary used in October
Prepaid Materials
Unpaid materials used in November
Outstanding material for Oct
Accrual stationary for November
Material ordered for but not yet delivered by the end of October was
Material not paid for, for use in October
URA is entitled to a monthly grant of
Required; prepare financial statement for NWSC for the month of October using the following accounting method
Cash basis marks
Accrual basis marks
Commitment basis marks
