From the following data, prepare a statement of revenue for the year ended 30th June 19X7.
Estimated Revenue Actual Receipts
Renting building and equipment K£850,000 K£870,000
Fee for trading licenses K£430,000 K£400,000
Fees for import/export licenses K£470,000 K£480,000
Other receipts K£235,000 K£210,000
The following additional details are available: -
(i) Balance on hand on 30th June 19X6 K£247,000
(ii) Balance on hand on 30th June 19X7 K£160,000