Ale Aubrey - Bsma 3 1.exercise123

AC
TRANSACTIONS
1. Established petty cash fund, P100,000.
2. Replenishment of the petty cash fund:

Office Supplies Expense, P40,000
Travelling Expenses-Local, P30,000
Representation Expenses, P10,000
3. Bill received from MERALCO, P112,000.
4. PLDT bill, P44,800.
5. Payment of PLDT bill, net of appropriate government tax.
6. Payment of MERALCO bill, net of appropriate of government tax.
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.
9. Payment of the seminar fee.
10. Receipt of liquidation report with Certificate of Attendance for advances to seminar.
11 . Approval of itinerary of local travel, P30,000.
12. Payment of per diems and allowances related with the local travel, P30,000. .
13. Liquidation of cash advance for travel.
14. Issuance of PO to dealer of office equipment, P35,000
15. Receipt of office equipment with charge invoice.
16. Payment of the delivered equipment, net of appropriate government tax.
17. Obligation for ICT Equipment per Purchase order, P100,000.
18. Payment to Procurement Service for IT equipment.
19. Receipt of IT Equipment based on Invoice/Delivery Receipt.

ACCOUNTING FOR GOVERNMENT AND NOT
Aubrey R. Ale | BSMA 3-1
TRANSACTIONS
0.
00
0
00.
ate government tax.
ropriate of government tax.
of office space with 6 months advance payment of P134,400.

ce to seminar, fee of P5,000.
rtificate of Attendance for advances to seminar.
P30,000.
es related with the local travel, P30,000. .
el.
uipment, P35,000
rge invoice.
, net of appropriate government tax.
rchase order, P100,000.
IT equipment.
voice/Delivery Receipt.
ENT AND NOT-FOR-PROFIT ORGANIZATIONS
e | BSMA 3-1 | EXERCISE 1
ACCOUNT TITLE
Petty Cash Fund

Cash-Modified Disbursement System (MDS), Regular
To recognize establishment of Petty Cash Fund to cover petty expenses
Office Supplies Expense

Travelling Expenses-Local
Representation Expenses, P10,000
To recognize replenishment of Petty Cash Fund
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
To recognize payment of PLDT bill
Accounts Payable
Due to BIR
To recognize payment of MERALCO bill
Preapid Rent
To recognize advance payment of rental office
No Entry
Advances to Officers and Employees

To recognize payment ofseminar fees from advances
Seminar Fee
To recognize receipt of liquidation for advances to seminar
No entry

To recognize payment of per diems and allowances from advances
Travel Expenses
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
To recognize the payment of the delivered equipment
No entry
Due from NGAs

Due to BIR
To recognize payment to procurement service for IT equipment
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
y Cash Fund
112,000.00
112,000.00
RALCO
44,800.00
44,800.00
DT
44,800.00
2,000.00
112,000.00
12,000.00
O bill
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
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
delivered equipment
100,000.00
6,250.00
ment service for IT equipment
100,000.00
100,000.00
based on Invoice
ACCOUNTING FOR GOV
Aubr
TRANSACTION
1. Issued PO for spare parts, P20,000.
2. Receipt of spare parts.
3. Payment of liability for spare parts, net of appropriate government tax.
4. Signed a contract for construction of building, P5,600,000.
5. Payment of 15% mobilization fee to contractor of buildings.
6. Receipt of 1st progress billing-50% completion.
7. Payment of 1st progress billing, net of advances and tax.
8. Receipt of final billing-100% completion.

9. Final payment for building, net of tax.
10. Turnover and acceptance of building.
11. Depreciation for the building, 20 years estimated life (6 months).

ACCOUNTING FOR GOVERNMENT AND NOT-FOR-PROFIT ORGA
Aubrey R. Ale | BSMA 3-1 | EXERCISE 2
TRANSACTION ACCOUN
No entry
Spare Parts
Accounts Payable
To recognize the receipt of spare
et of appropriate government tax. Accounts Payable

Due to BIR
Cash-Modified Disbursement System
To recognize payment of liability
building, P5,600,000. No entry
ontractor of buildings. Advances to Contractors

To recognize payment of 15% m
ompletion. Construction in Progress-Buildings and

Accounts Payable
To recognize receipt of 1st proge
f advances and tax. Accounts Payable

Due to BIR
Advances to Contractors
To recognize payment of 1st pr
on. Construction in Progress-Buildings and

Accounts Payable
To recognize receipt of final biliin
Accounts Payable
Due to BIR
Advances to Contractors
To recognize final payment for b
g. Building
Construction in Progress-Buildings a
To recognize turnover and accep
rs estimated life (6 months). Depreciation- Buildings and Other Struc

Accumulated Depreciation- Building
To recognize depreciation for bu
OR-PROFIT ORGANIZATIONS
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
Progress-Buildings and Other Structure 2,800,000.00

yable 2,800,000.00
nize receipt of 1st progess billing- 50% completion
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
Progress-Buildings and Other Structure 2,800,000.00

yable 2,800,000.00
nize receipt of final biliing- 100% completion
le 2,800,000.00
175,000.00
ed Disbursement System (MDS), Regular 2,205,000.00
o Contractors 420,000.00
nize final payment for building
2,800,000.00
in Progress-Buildings and Other Structure 2,800,000.00
nize turnover and acceptance of building
uildings and Other Structure 70,000.00

d Depreciation- Buildings and Other Structure 70,000.00
nize depreciation for building (6 months)
T
Cr
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
1. Receipt of allotment for:

CO 2,000,000
MOOE 1,400,000
PS 1,400,000
FE 200,000
TOTAL 5,000,000
2. Receipt of Notice of Cash Allocation from DBM- P4,000,000.
3. Obligation for PS, P1,000,000.
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
5. Grant of cash advance for payroll--P638,000.
6. Liquidation of cash advance.

7. Remittance of salary deductions, excluding withholding tax.
8. Obligation for government share:

Ret. And Life Ins. P120,000
Pag-ibig Contributions 12,000
Philhealth contributions 20,000
9. Remittance of Government share.
10. Payment of one year rent, P134,400, less tax.
11. Payment of Meralco bill, P112,000, less tax.
12. Payment of PLDT bill, P67,200, less tax.
13. Granting of cash advance for travel, P50,000.
14. Liquidation of cash advance for travel, P40,000.
15. Refund of excess cash advance.

16. Deposit of cash collection to BTr.
17. Establishment of Petty cash fund, P60,000.
18. Replenishment of petty cash fund.

Office supplies , P40,000
Postage & courier P16,000
19.Purchase of Office equipment on account, P336,000.
20. Purchase of ICT Equipment P560,000, on account.
21. Payment of all accounts payable, net of tax.
22. Remittance of withholding taxes thru TRA.
23. Advance payment to Procurement Service for office supplies, P50,000.
24.Receipt of office supplies and invoice from procurement service.
Office supplies used, P45,000.
26.Depreciation for the following:

ICT Equipment, (est. life 4 years; 6 months in use)
27. Rent expense for the year (6 months).

ACCOUNTING FOR GOVERNMENT AND NOT-FOR-PROFIT ORGANIZATIONS
Aubrey R. Ale | BSMA 3-1 | EXERCISE 3
ACCOUNT TITLE
No Entry

Subsidy from National Government
To recognize receipt of NCA for Regular Agency Fund
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
Advances for Payroll

To recognize grant of csh advance for payroll
Due to Officers and Emploees

Advances for Payroll
To recognize liquidation of cash advance
Due to GSIS
Due to Pag-Ibig
Due to PhilHealth
To recognize remittance of salary deductions, excluding withholding tax
No Entry
Retirement and Life insurance premium

Pag-Ibig contribution
Philhealth Contribution
To recognize remittance of government share
Prepaid Rent
Due to BIR
To recognize payment of one year rent, less tax
Electricity Expense
Due to BIR
To recognize payment of Meralco Bill
Telephone Expense
Due to BIR
To recognize payment of PLDT bill

To recognize granting of cash advance for travel
Travelling Expenses
To recognize liquidation of cash advance for travel
Cash-Collecting Officers
To recognize refund o excess cash advance.
Cash-Treasury/Agency Deposit, Trust
Cash-Collecting Officers
To recognize deposit of cash collection to BTr
Petty Cash Fund

To recognize establishment of Petty Cash Fund to cover petty expenses
Office Supplies Expense

Postage & Courier Expense
To recognize replenishment of Petty Cash Fund
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
To recognized payment of all accounts payable
Due to BIR
Cash-Tax Remittance Advise
To recognize remittance of withholding taxes thru TRA
Due from NGAs

To recognize advance payment to Procurement service for office supplies
Office Supplies
Due from NGAs
To recognize receipt of office supplies and invoice from procurement service
No Entry
Depreciation Expense- Office Equipment

Depreciation Expense- ICT Equipment
Accumulated Depreciation- Office Equipment
Accumulated Depreciation- ICT Equipment
To recognize depreciation of Office equipment and ICT equipment
Rent expense
Prepaid Rent
To recognize rent expense for 6 months
ROFIT ORGANIZATIONS
CISE 3
AMOUNT
COUNT TITLE
Dr Cr
S), Regular 4,000,000.00

4,000,000.00
gular Agency Fund
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
for payroll
638,000.00
638,000.00
ance
90,000.00
12,000.00
20,000.00
eductions, excluding withholding tax
90,000.00
12,000.00
20,000.00
ment share
134,400.00
12,000.00
rent, less tax
112,000.00
7,000.00
Bill
67,200.00
4,200.00
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
y Cash Fund to cover petty expenses
40,000.00
16,000.00
y Cash Fund
336,000.00
336,000.00
pment
560,000.00
560,000.00
ent
896,000.00
48,000.00
nts payable
311,200.00
311,200.00
ding taxes thru TRA
50,000.00
3,125.00
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

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AC

1. Established petty cash fund, P100,000.

2. Replenishment of the petty cash fund:

3. Bill received from MERALCO, P112,000.

4. PLDT bill, P44,800.

5. Payment of PLDT bill, net of appropriate government tax.

6. Payment of MERALCO bill, net of appropriate of government tax.

9. Payment of the seminar fee.

11 . Approval of itinerary of local travel, P30,000.

13. Liquidation of cash advance for travel.

14. Issuance of PO to dealer of office equipment, P35,000

15. Receipt of office equipment with charge invoice.

16. Payment of the delivered equipment, net of appropriate government tax.

17. Obligation for ICT Equipment per Purchase order, P100,000.

18. Payment to Procurement Service for IT equipment.

19. Receipt of IT Equipment based on Invoice/Delivery Receipt.

Aubrey R. Ale | BSMA 3-1

ate government tax.

ropriate of government tax.

of office space with 6 months advance payment of P134,400.

rtificate of Attendance for advances to seminar.

es related with the local travel, P30,000. .

, net of appropriate government tax.

rchase order, P100,000.

e | BSMA 3-1 | EXERCISE 1

Petty Cash Fund

Office Supplies Expense

Advances to Officers and Employees

Advances to Officers and Employees

Due from NGAs

1. Issued PO for spare parts, P20,000.

2. Receipt of spare parts.

3. Payment of liability for spare parts, net of appropriate government tax.

4. Signed a contract for construction of building, P5,600,000.

5. Payment of 15% mobilization fee to contractor of buildings.

6. Receipt of 1st progress billing-50% completion.

7. Payment of 1st progress billing, net of advances and tax.

8. Receipt of final billing-100% completion.

10. Turnover and acceptance of building.

11. Depreciation for the building, 20 years estimated life (6 months).

Aubrey R. Ale | BSMA 3-1 | EXERCISE 2

et of appropriate government tax. Accounts Payable

building, P5,600,000. No entry

ontractor of buildings. Advances to Contractors

ompletion. Construction in Progress-Buildings and

f advances and tax. Accounts Payable

on. Construction in Progress-Buildings and

rs estimated life (6 months). Depreciation- Buildings and Other Struc

Progress-Buildings and Other Structure 2,800,000.00

Progress-Buildings and Other Structure 2,800,000.00

uildings and Other Structure 70,000.00

1. Receipt of allotment for:

2. Receipt of Notice of Cash Allocation from DBM- P4,000,000.

3. Obligation for PS, P1,000,000.

5. Grant of cash advance for payroll--P638,000.

6. Liquidation of cash advance.

8. Obligation for government share:

9. Remittance of Government share.

10. Payment of one year rent, P134,400, less tax.

11. Payment of Meralco bill, P112,000, less tax.

12. Payment of PLDT bill, P67,200, less tax.

13. Granting of cash advance for travel, P50,000.