Ale Aubrey - Bsma 3 1.exercise123
Ale Aubrey - Bsma 3 1.exercise123
TRANSACTIONS
7. Signing of the contract for the rental of office space with 6 months advance payment of P134,400
8. Issued special order for the attendance to seminar, fee of P5,000.
10. Receipt of liquidation report with Certificate of Attendance for advances to seminar.
12. Payment of per diems and allowances related with the local travel, P30,000. .
TRANSACTIONS
0.
00
0
00.
P30,000.
el.
uipment, P35,000
rge invoice.
IT equipment.
voice/Delivery Receipt.
ENT AND NOT-FOR-PROFIT ORGANIZATIONS
ACCOUNT TITLE
Electricity Expense
Accounts Payable
To recognize bill received from MERALCO
Telephone Expense
Accounts Payable
To recognize bill received from PLDT
Accounts Payable
Due to BIR
Cash-Modified Disbursement System (MDS), Regular
To recognize payment of PLDT bill
Accounts Payable
Due to BIR
Cash-Modified Disbursement System (MDS), Regular
To recognize payment of MERALCO bill
Preapid Rent
Cash-Modified Disbursement System (MDS), Regular
To recognize advance payment of rental office
No Entry
Seminar Fee
Advances to Officers and Employees
To recognize receipt of liquidation for advances to seminar
No entry
Travel Expenses
Advances to Officers and Employees
To recognize receipt of liquidation of cash advanced for travel
No Entry
Office Equipment
Accounts Patable
To record the receipt of office equipment
Accounts Payable
Due to BIR
Cash-Modified Disbursement System (MDS), Regular
To recognize the payment of the delivered equipment
No entry
ICT Equipment
Due from NGAs
To record receipt of IT equipment based on Invoice
AMOUNT
UNT TITLE
Dr Cr
100,000.00
MDS), Regular 100,000.00
y Cash Fund to cover petty expenses
40,000.00
30,000.00
10,000.00
MDS), Regular 80,000.00
y Cash Fund
112,000.00
112,000.00
RALCO
44,800.00
44,800.00
DT
44,800.00
2,000.00
MDS), Regular 42,800.00
112,000.00
12,000.00
MDS), Regular 100,000.00
O bill
133,400.00
MDS), Regular 133,400.00
rental office
5,000.00
ement System (MDS), Regular 5,000.00
fees from advances
5,000.00
5,000.00
n for advances to seminar
30,000.00
MDS), Regular 30,000.00
ms and allowances from advances
30,000.00
30,000.00
n of cash advanced for travel
35,000.00
35,000.00
pment
35,000.00
1,875.00
MDS), Regular 33,125.00
delivered equipment
100,000.00
6,250.00
MDS), Regular 93,750.00
ment service for IT equipment
100,000.00
100,000.00
based on Invoice
ACCOUNTING FOR GOV
Aubr
TRANSACTION
TRANSACTION ACCOUN
No entry
Spare Parts
Accounts Payable
To recognize the receipt of spare
g. Building
Construction in Progress-Buildings a
To recognize turnover and accep
EXERCISE 2
AMOUNT
ACCOUNT TITLE
Dr Cr
20,000.00
20,000.00
yable
nize the receipt of spare parts
le 20,000.00
1,071.43
ed Disbursement System (MDS), Regular 18,928.57
nize payment of liability for spare parts
ntractors 840,000.00
ed Disbursement System (MDS), Regular 840,000.00
nize payment of 15% mobilization fee to contractor
le 2,800,000.00
175,000.00
ed Disbursement System (MDS), Regular 2,205,000.00
o Contractors 420,000.00
gnize payment of 1st progress billing
2,800,000.00
in Progress-Buildings and Other Structure 2,800,000.00
nize turnover and acceptance of building
20,000.00
1,071.43
18,928.57
840,000.00
2,800,000.00
175,000.00
2,205,000.00
420,000.00
2,800,000.00
175,000.00
2,205,000.00
420,000.00
2,800,000.00
70,000.00
ACCOUNTING FOR GOV
Aubre
TRANSACTIONS
4. Recording of expenses
Salaries 800,000
PERA 100,000
Representation Allowance 50,000
Transportation Allowance 50,000 1,000,000
Less: Wtax 240,000
Ret. And Life Ins. 90,000
Pag-ibig premiums 12,000
Philhealth premiums 20,000 362,000
Net amount 638,000
ACCOUNT TITLE
No Entry
No Entry
Salaries Expense
PERA
Representation Allowance
Transportation Allowance
Due to BIR
Due to GSIS
Due to Pag-Ibig
Due to PhilHealth
Due to Officers and Employees
To recognize recording of expenses
No Entry
Prepaid Rent
Due to BIR
Cash-Modified Disbursement System (MDS), Regular
To recognize payment of one year rent, less tax
Electricity Expense
Due to BIR
Cash-Modified Disbursement System (MDS), Regular
To recognize payment of Meralco Bill
Telephone Expense
Due to BIR
Cash-Modified Disbursement System (MDS), Regular
To recognize payment of PLDT bill
Travelling Expenses
Advances to Officers and Employees
To recognize liquidation of cash advance for travel
Cash-Collecting Officers
Advances to Officers and Employees
To recognize refund o excess cash advance.
Cash-Treasury/Agency Deposit, Trust
Cash-Collecting Officers
To recognize deposit of cash collection to BTr
Office equipment
Accounts Payable
To record the receipt of office equipment
ICT equipment
Accounts Payable
To record the receipt of ICT equipment
Accounts Payable
Due to BIR
Cash-Modified Disbursement System (MDS), Regular
To recognized payment of all accounts payable
Due to BIR
Cash-Tax Remittance Advise
To recognize remittance of withholding taxes thru TRA
Office Supplies
Due from NGAs
To recognize receipt of office supplies and invoice from procurement service
No Entry
Rent expense
Prepaid Rent
To recognize rent expense for 6 months
ROFIT ORGANIZATIONS
CISE 3
AMOUNT
COUNT TITLE
Dr Cr
800,000.00
100,000.00
50,000.00
150,000.00
240,000.00
90,000.00
12,000.00
20,000.00
638,000.00
s
638,000.00
MDS), Regular 638,000.00
for payroll
638,000.00
638,000.00
ance
90,000.00
12,000.00
20,000.00
MDS), Regular 122,000.00
eductions, excluding withholding tax
90,000.00
12,000.00
20,000.00
MDS), Regular 122,000.00
ment share
134,400.00
12,000.00
MDS), Regular 124,400.00
rent, less tax
112,000.00
7,000.00
MDS), Regular 105,000.00
Bill
67,200.00
4,200.00
MDS), Regular 63,000.00
50,000.00
MDS), Regular 50,000.00
nce for travel
40,000.00
40,000.00
vance for travel
10,000.00
10,000.00
advance.
10,000.00
10,000.00
ion to BTr
60,000.00
MDS), Regular 60,000.00
y Cash Fund to cover petty expenses
40,000.00
16,000.00
MDS), Regular 56,000.00
y Cash Fund
336,000.00
336,000.00
pment
560,000.00
560,000.00
ent
896,000.00
48,000.00
MDS), Regular 848,000.00
nts payable
311,200.00
311,200.00
ding taxes thru TRA
50,000.00
3,125.00
MDS), Regular 46,875.00
Procurement service for office supplies
50,000.00
50,000.00
ies and invoice from procurement service
50,400.00
70,000.00
pment 50,400.00
ment 70,000.00
equipment and ICT equipment
67,200.00
67,200.00
onths