Objective:
To be able to prepare financial statements under the GAM.
Instructions:
1. Analyze the given transactions.
2. Prepares the following using the prescribed format:
a. Closing Entries
b. Post-Closing Trial Balance
c. Detailed Statement of Financial Position
d. Detailed Statement of Financial Performance
e. Statement of Changes in Net Assets/Equity
f. Statement of Cash Flows
g. Statement of Comparison of Budget and Actual Amounts
3. Submit the above Requirements in one (1) PDF file in our google classroom.
DEPARTMENT OF BEAUTIFICATION
Account Title
Pre Closing Trial Balance
December 31, 2019
UACS Object Code
Cash-Collecting Officer
Cash - Treasury/Agency Deposit, Regular
Office Supplies Inventory
Semi-Expendable Office Equipment
Semi-Expendable ICT
Land
Building
Office Equipment
Accumulated depreciation-Office Equip.
ICT Equipment
Accumulated depreciation-ICT Equip.
Due to BIR
Due to GSIS-RLIP
Due to Pag-IBIG-Premium
Due to PhilHealth
Guaranty/Security Deposits Payable
Subsidy from National Government
Permit Fees
Registration Fees
Clearance and Cert. Fees
Practice Set
Page 1 of 2
1010101000
1010401000
1040401000
1040502000
1040503000
1060101000
1060401000
1060502000
1060502100
1060503000
1060503100
2020101000
2020102001
2020103001
2020104000
2040104000
4030102000
4020101000
4020102000
4020104000
Debit
Credit
100.00
1,515,900.00
200,000.00
100,000.00
150,000.00
1,000,000.00
4,500,000.00
190,000.00
21,058.33
350,000.00
38,791.67
132,600.00
54,390.00
1,600.00
1,800.00
450,000.00
13,242,080.00
251,500.00
74,500.00
8,200.00
Processing Fees
Income from Grants & Donations in Cash
Miscellaneous Income
Salaries and Wages-Basic(Civilian)
PERA - Civilian
Retirement and Life Insurance Premiums
Pag-IBIG – Civilian
PhilHealth – Civilian
Water Expenses
Electricity Expenses
Communication Expenses-Mobile
Communication Expenses-Landline
Internet Subscription Expenses
4020113000
4040201000
4060201000
5010101001
5010201001
5010301000
5010302001
5010303001
5020401000
5020402000
5020502001
5020502002
5020503000
47,800.00
1,070,000.00
64,000.00
3,108,000.00
192,000.00
372,960.00
9,600.00
10,800.00
2,280.00
4,440.00
2,640.00
4,800.00
31,600.00
Account Title
Postage and Courier Services
Travelling expenses – Local
Training expenses
Travelling expenses - Foreign
Scholarship grants/expenses
Research, Exploration and Development
Expenses services
Consultancy
Other professional services
Semi-Expendable Office Equipment
Expenses
Office Supplies Expense
Semi-Expendable ICT Expenses
Accountable Forms Expenses
Non-Accountable Forms Expenses
Welfare Goods for Distribution Exp.
Depreciation Expenses-Machinery and
Equipment
Total
UACS Object Code
5020501000
5020101000
5020201000
5020102000
5020202000
5020702000
5021103000
5021199000
5020321002
5020301000
5020321003
5020302000
5020303000
5020306000
5050105002
Debit
1,150.00
14,000.00
51,500.00
1,500.00
115,000.00
1,875,000.00
198,000.00
132,000.00
306,000.00
605,000.00
285,500.00
10,000.00
700.00
58,000.00
59,850.00
15,458,320.00
Credit
15,458,320.00
Additional Information:
a. Excerpts from the General Appropriation Act:
PROGRAMS
100000000
TOTAL
1,710,000.00
PS
1,010,000.00
MOOE
300,000.00
CO
400,000.00
200000000
OFFICE
General Administration and Support
(GAAS)
Support to Operations (STO)
520,000.00
170,000.00
250,000.00
100,000.00
300000000
Operations
12,850,000.00 2,620,000.00
4,200,000.00
6,030,000.00
MFO 1
Policy Services (PolS)
1,560,000.00
350,000.00
30,000.00
MFO 2
Management Services (ManS)
10,580,000.00 1,080,000.00
3,500,000.00
6,000,000.00
MFO 3
Regulation Services (RegS)
710,000.00
350,000.00
Practice Set
Page 2 of 2
1,180,000.00
360,000.00
b. Notice of Cash Allocation received:
Particulars
NCA and TRA received from
January to June 2015
NCA and TRA received from July
to December 2015
Total
Servicing Bank
LBP-Quezon City
Amount
6,000,000.00
LBP-Quezon City
8,470,000.00
14,470,000.00
c. Estimated Revenue per Approved Budget of the Agency (ERABA):
Permit
Fees
Registration
Fees
1st Quarter
2nd Quarter
3rd Quarter
50,000.00
50,000.00
60,000.00
10,000.00
15,000.00
15,000.00
Clearance
and
Certification
Fees
1,000.00
1,000.00
2,000.00
4th Quarter
60,000.00
15,000.00
220,000
55,000.00
Period
Processing
Fees
Miscellaneous
Income
10,000.00
10,000.00
10,000.00
15,000.00
2,000.00
10,000.00
25,000.00
6,000.00
40,000.00
40,000.00
Income from
Grants and
Donations in
Cash
500,000.00
Total
571,000.00
91,000.00
500,000.00
Total
587,000.00
112,000.00
1,000,000.00
1,361,000.00
Collection of Income and remittance to the National Treasury:
ACCOUNT TITLE
Account Title
Permit Fees
Registration Fees
Clearance and Certification Fees
Processing Fees
Miscellaneous Income
Income from Grants and Donations in Cash
AMOUNT
Total
251,500.00
74,500.00
8,200.00
47,800.00
64,000.00
1,070,000.00
Remittance
251,500.00
74,500.00
8,100.00
47,800.00
64,000.00
1,070,000.00
d. Disbursements:
PARTICULARS
Payment of salaries and wages
Grant of cash advances
Payment of supplies, materials and other inventories
Payment of Water expenses
Payment of electricity expenses
Practice Set
Page 3 of 2
AMOUNT
2,533,680.00
182,000.00
1,715,200.00
2,280.00
4,440.00
Payment for Postage and Courier Services
Payment of telephone expenses
Payment for Research, Exploration and Development Expenses
Payment for Professional Services
Remittance of
GSIS, Philhealth, PAG-ibig and other mandatory
contributions
Remittance of Taxes withheld from Research and Development expenses
and Professional fees
Remittance of Taxes withheld from acquisition of capital assets
Reversal of Unutilized NCA
Purchase of Land
Construction of Building
Purchase of Office Equipment
Purchase of ICT Equipment
Practice Set
Page 4 of 2
1,150.00
39,040.00
1,757,812.50
297,000.00
1,063,040
150,187.50
256,250.00
1,227,920.00
950,000.00
3,768,750.00
190,000.00
331,250.00