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3. Answer Key Millan

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Page |1
Chapter 3
The Government Accounting Process
PROBLEM 3-1: TRUE OR FALSE
1. TRUE
2. TRUE
3. FALSE
4. TRUE
5. TRUE
6. TRUE
7. TRUE
8. FALSE
9. TRUE
10. FALSE
PROBLEM 3-2: MULTIPLE CHOICE
1. B
2. D
3. A
4. B
5. A
6. D
7. C
8. A
9. B
10. A
Page |2
PROBLEM 3-3: MULTIPLE CHOICE
1. D
2. D
3. C
4. B
5. C
6. D
7. B
8. B
9. D
10. D
PROBLEM 3-4: MULTIPLE CHOICE
1. A
2. C
3. A
Solution:
Subsidy from NG (NCA)
Subsidy from NG (TRA)
Unused NCA
Net Financial
Assistance/Subsidy
667,000
4. C
Solution:
Revenue
Expenses
290,000
(885,000)
Surplus (Deficit) from operations
Subsidy from NG (NCA)
Subsidy from NG (TRA)
Unused NCA
Net Financial
Assistance/Subsidy
Surplus (Deficit) for the period
625,000
48,000
(6,000)
(595,000)
750,000
140,000
(43,000)
847,000
252,000
Page |3
5. A
Solution:
Adjusted Trial Balance (Dr. & Cr.)
Statement of Financial Position (Dr.)
Statement of Financial Performance
(Dr.)
Statement of Financial Position (Cr.)
Surplus (Deficit) for the period
6. C
7. C
8. C
9. A
10. C
2,765,000
(1,880,000)
885,000
1,137,000
252,000
Page |4
PROBLEM 3-5: BASIC RECORDING DRILLS
Solutions:
a. Recording in the Registry of Appropriations and Allotments
(RAPAL).
b. Recording in the RAPAL and appropriate Registries of
Allotments, Obligations and Disbursements (RAOD)
maintained by object of expenditure.
c. Recording in RAOD and Obligation Request and Status
(ORS).
d. Journal entry:
Date
Cash-Modified Disbursement System
(MDS), Regular
Subsidy from National
Government
850,000
850,000
To recognize receipt of NCA from
DBM
e. Journal entry:
Dat
Salaries and Wages, Regular
e
Personal Economic Relief Allowance
(PERA)
Due to BIR
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Due to Officers and Employees
450,000
50,000
125,00
0
25,00
0
20,000
12,00
0
318,00
0
To recognize payable to officers and
employees upon approval of payroll
f.
Journal entry:
Advances for Payroll
Cash-Modified Disbursement
System (MDS), Regular
Date
To recognize grant of cash advance
for payroll
318,000
318,000
Page |5
g. Journal entry:
Date
Due to Officers and Employees
Advances for Payroll
318,000
318,000
To recognize liquidation of Payroll
Fund
h. Journal entry:
Date
Office Supplies Inventory
Accounts Payable
200,000
200,000
To recognize delivery of office supplies
i.
Journal entry:
Accounts Payable
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
Date
180,000
10,000
170,000
To recognize payment of accounts
payable
j.
Journal entry (in the entity’s books):
Cash-Tax Remittance Advice
Subsidy from National
Government
Date
135,000
135,000
To recognize the constructive receipt
of NCA for TRA
Date
Due to BIR
Cash-Tax Remittance Advice
135,000
135,000
To recognize constructive remittance
of taxes withheld to the BIR through TRA
k. Journal entry:
Date
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
25,000
20,000
12,000
Page |6
Cash-Modified Disbursement
System (MDS), Regular
57,000
To recognize remittance to GSIS,
Pag-IBIG and PhilHealth
l.
Journal entry:
Accounts receivable
Power Supply System Fees
Date
200,000
200,000
To recognize billing of income
m. Journal entry:
Date
Cash – Collecting Officers
Accounts Receivable
200,000
200,000
To recognize collection of billed income
Date
Cash-Treasury/Agency Deposit,
Regular
Cash – Collecting Officers
200,000
200,000
To recognize remittance of income to
BTr
n. Journal entry:
Date
Subsidy from National Government
Cash-Modified Disbursement
System (MDS), Regular
305,000
305,000
To recognize reversion of unused
NCA
Cash-Modified Disbursement System (MDS), Regular
Receipt of
850,00
NCA
0
318,00
0
170,00
0
57,00
Advances for payroll
Payment of accounts
Remittances to GSIS,
Page |7
0
305,00
0
Pag-IBIG, & PhilHealth
end
o. Unreleased appropriation:
(1,000,000 Appropriation – 980,000 Allotment) = 20,000
p. Unobligated allotment:
(980,000 Allotment – 880,000 Obligations) = 100,000
q. “Not Yet Due and Demandable” Obligations
(880,000 Obligations – 500,000 gross compensation – 200,000
purchase of office supplies) = 180,000
Page |8
PROBLEM 3-6: BASIC RECORDING DRILLS
Solutions:
1. Journal entry
Date
Cash-Modified Disbursement System
(MDS), Regular
Subsidy from National
Government
1,000,00
0
1,000,00
0
To recognize receipt of NCA from
DBM
2. Journal entry (in the entity’s books):
Date
Cash-Tax Remittance Advice
Subsidy from National
Government
100,000
100,000
To recognize the constructive receipt
of NCA for TRA
Date
Due to BIR
Cash-Tax Remittance Advice
100,000
100,000
To recognize constructive remittance
of taxes withheld to the BIR through TRA
3. Recording in the RAPAL and appropriate Registries of
Allotments, Obligations and Disbursements (RAOD)
maintained by object of expenditure.
4. Recording in the Registry of Appropriations and Allotments
(RAPAL).
5. Recording in RAOD and Obligation Request and Status
(ORS).
6. Recording in RAOD and Obligation Request and Status
(ORS).
Page |9
7. Journal entry:
Date
Accounts receivable
Affiliation Fees
250,000
250,000
To recognize billing of income
Date
Cash – Collecting Officers
Accounts Receivable
200,000
200,000
To recognize collection of billed income
Date
Cash-Treasury/Agency Deposit,
Regular
Cash – Collecting Officers
200,000
200,000
To recognize remittance of income to
BTr
8. Journal entry:
Date
Subsidy from National Government
Cash-Modified Disbursement
System (MDS), Regular
50,000
50,000
To recognize reversion of unused
NCA
9. Journal entry:
Date
Office Equipment
Accounts Payable
100,000
100,000
To recognize delivery of office
equipment
10. Journal entry:
Date
Accounts Payable
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
To recognize payment of accounts
payable
60,000
3,000
57,000
P a g e | 10
PROBLEM 3-7: WORKSHEET PREPARATION
Solutions:
Requirement (a): Recordings
a. The appropriation is posted (recorded) in the Registry of
Appropriations and Allotments (RAPAL).
b. The allotment is posted (recorded) in the Registry of
Appropriations and Allotments (RAPAL) and Registries of
Allotments, Obligations and Disbursements (RAOD).
c.
The obligations are recorded in the Obligation Request and
Status (ORS) and Registries of Allotments, Obligations and
Disbursements (RAOD).
d. Journal entry
Date
Cash-Modified Disbursement System
(d)
(MDS), Regular
Subsidy from National
Government
430,000
430,000
To recognize receipt of NCA from
the DBM
e. Journal entries
(e.1)
Salaries and Wages, Regular
Personal Economic Relief Allowance
(PERA)
Due to BIR
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Due to Officers and Employees
70,000
10,000
18,000
4,000
1,000
2,000
55,000
To recognize payable to officers and
employees upon approval of payroll
(e.2)
Advances for Payroll
Cash-Modified Disbursement
System (MDS), Regular
55,000
55,000
P a g e | 11
To recognize grant of cash advance for
payroll
(e.3)
Due to Officers and Employees
Advances for Payroll
55,000
55,00
0
To recognize liquidation of Payroll Fund
f.
(f.1)
Journal entries
Office Equipment
Accounts Payable
200,000
200,000
To recognize delivery of office
equipment
(f.2)
Depreciation-Machinery and
Equipment
Accumulated Depreciation – O.E.
38,000
38,000
To recognize depreciation of office
equipment
g. Journal entry
(g)
Accounts Payable
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
200,000
12,000
188,000
To recognize payment of accounts
payable
h. Journal entry
(h)
Office Supplies Inventory
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
100,000
5,000
95,000
To recognize delivery of office supplies
i.
(i)
Journal entry
Office Supplies Expense
Office Supplies Inventory
To record the issuance of office supplies
to end users
90,000
90,000
P a g e | 12
j.
Journal entry
Advances to Officers and Employees
Cash – Modified Disbursement
System (MDS), Regular
(j.1)
20,000
20,000
To recognize grant of cash advance for
travel
(j.2)
Traveling Expenses - Local
Advances to Officers and
Employees
17,000
17,000
To recognize liquidation of cash
advance for travel
(j.3)
Cash – Collecting Officers
Advances to Officers and
Employees
3,000
3,000
To recognize refund of excess cash
advance for travel
(j.4)
Cash – Treasury/Agency Deposit,
Regular
Cash – Collecting Officers
3,000
3,000
To recognize remittance of the refund
of excess cash advance for travel
k. Journal entry
(k.1)
Cash – Collecting Officers
Permit fees
40,000
40,000
To recognize collection of unbilled
service income
(k.2)
Cash-Treasury/Agency Deposit,
Regular
Cash – Collecting Officers
30,000
30,000
To recognize remittance of income
to the BTr
l.
(l)
Journal entry
Water Expenses
5,000
P a g e | 13
Electricity Expenses
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
10,000
2,000
13,000
To recognize issuance of MDS checks
as payment for expenses
m. Journal entry
(m.1)
Cash-Tax Remittance Advice
Subsidy from National
Government
37,000
37,000
To recognize the constructive receipt
of NCA for TRA
(m.2)
Due to BIR
Cash-Tax Remittance Advice
37,000
37,000
To recognize constructive remittance
to BIR of taxes withheld through TRA
n. Journal entry
(n)
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Cash-Modified Disbursement
System (MDS), Regular
To recognize remittance to GSIS,
Pag-IBIG and PhilHealth
4,000
1,000
2,000
7,000
P a g e | 14
Requirement (b): Posting in the ledger
P a g e | 15
P a g e | 16
Requirement (c): Unadjusted Trial Balance
Accounts
Debit
Credit
Cash - Collecting Officers
Cash-Treasury/Agency Dep., Reg.
10,000
Cash-MDS, Regular
52,000
Cash-Tax Remittance Advice
Office Supplies Inventory
Office Equipment
Accumulated Depreciation - Equipment
33,000
10,000
200,000
38,000
Advances for Payroll
-
Advances to Officers and Employees
-
Accounts Payable
Due to Officers and Employees
-
Due to BIR
-
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
-
Accumulated Surplus (Deficit)
-
Permit Fees
Subsidy from NG
Salaries and Wages, Regular
PERA
Travelling Expenses - Local
40,000
467,000
70,000
10,000
17,000
Office Supplies Expense
90,000
Water Expenses
Electricity Expenses
5,000
10,000
Depreciation-Machinery & Equipment
Totals
38,000
545,000
545,000
P a g e | 17
Requirement (d): Adjusting Entry
(AJE)
Subsidy from National Government
Cash-Modified Disbursement
System (MDS), Regular
To recognize reversion of unused NCA
52,000
52,000
P a g e | 18
Requirement (e): Worksheet
P a g e | 19
Requirement (f): Closing entries
(CL1
)
Accumulated Surplus/(Deficit)
Cash-Treasury/Agency Deposit,
Regular
33,000
33,000
To recognize closing of cash deposit
account
(CL2
)
Permit Fees
Subsidy from National Government
Salaries and Wages, Regular
PERA
Travelling Expenses - Local
Office Supplies Expense
Water Expenses
Electricity Expenses
Depreciation-Mac. & Equipt.
Revenue and Expense Summary
To recognize closing of income and
expense accounts
40,000
415,000
70,000
10,000
17,000
90,000
5,000
10,000
38,000
215,000
P a g e | 20
(CL3
)
Revenue and Expense Summary
215,000
Accumulated Surplus/(Deficit)
To recognize closing of revenue
and expense summary
215,000
P a g e | 21
PROBLEM 3-8: WORKSHEET PREPARATION
Solutions:
Requirement (1): Recordings
a. The appropriation is posted (recorded) in the Registry of
Appropriations and Allotments (RAPAL).
b. The allotment is posted (recorded) in the Registry of
Appropriations and Allotments (RAPAL) and Registries of
Allotments, Obligations and Disbursements (RAOD).
c.
The obligations are recorded in the Obligation Request and
Status (ORS) and Registries of Allotments, Obligations and
Disbursements (RAOD).
d. Journal entry
Date
Cash-Modified Disbursement System
(d)
(MDS), Regular
Subsidy from National
Government
1,050,00
0
1,050,00
0
To recognize receipt of NCA from
the DBM
e. Journal entries
(e.1)
Salaries and Wages, Regular
Personal Economic Relief Allowance
(PERA)
Due to BIR
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Due to Officers and Employees
380,000
20,000
90,000
30,000
20,000
10,000
250,00
0
To recognize payable to officers and
employees upon approval of payroll
(e.2)
Advances for Payroll
Cash-Modified Disbursement
System (MDS), Regular
To recognize grant of cash advance for
250,000
250,00
0
P a g e | 22
payroll
P a g e | 23
(e.3)
Due to Officers and Employees
Advances for Payroll
250,000
250,00
0
To recognize liquidation of Payroll Fund
f.
(f)
Journal entry
Office Equipment
Accounts Payable
320,000
330,000
To recognize delivery of office
equipment
g. Journal entry
(g)
Accounts Payable
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
320,000
20,000
300,000
To recognize payment of accounts
payable
h. Journal entry
(h)
Office Supplies Inventory
Accounts Payable
150,000
150,000
To recognize delivery of office supplies
i.
(i)
Journal entry
Accounts Payable
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
To recognize payment of accounts
payable
120,000
10,000
110,000
P a g e | 24
j.
(j)
Journal entry
Water Expenses
Electricity Expenses
Telephone Expenses
Janitorial Expenses
Security Expenses
Due to BIR
Cash – Modified Disbursement
System (MDS), Regular
20,000
60,000
40,000
80,000
100,000
20,000
280,000
To recognize issuance of MDS checks
as payment for expenses
k. Journal entry
(k)
Office Supplies Expense
Office Supplies Inventory
130,000
130,000
To record the issuance of office supplies
to end users
l.
(l)
Journal entry
Accounts receivable
Waterworks System Fees
240,000
240,000
To recognize billing of income
m. Journal entry
(m.1
Cash – Collecting Officers
)
Accounts receivable
200,000
200,000
To recognize collection of current year’s
billed income
(m.2
)
Cash-Treasury/Agency Deposit, Regular
Cash – Collecting Officers
200,000
200,000
To recognize remittance of income to the
BTr
n. Journal entry
(n)
Cash-Treasury/Agency Deposit, Regular
Tax on Delivery Vans and Trucks
50,000
50,000
P a g e | 25
To recognize collection and remittance
of income to BTr through Authorized
Government Depository Banks (AGDB)
o. Journal entry
(o.1)
Cash-Tax Remittance Advice
Subsidy from National
Government
160,000
160,000
To recognize the constructive receipt
of NCA for TRA
(o.2)
Due to BIR
Cash-Tax Remittance Advice
160,000
160,000
To recognize constructive remittance
to BIR of taxes withheld through TRA
p. Journal entry
(p)
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Cash-Modified Disbursement
System (MDS), Regular
To recognize remittance to GSIS,
Pag-IBIG and PhilHealth
34,000
22,000
11,000
67,000
P a g e | 26
Requirement (2): Posting to the Ledger
P a g e | 27
P a g e | 28
P a g e | 29
Requirement (3): Unadjusted Trial Balance
Accounts
Cash - Collecting Officers
Cash-Treasury/Agency Dep., Reg.
Cash-MDS, Regular
Cash-Tax Remittance Advice
Accounts Receivable
Office Supplies Inventory
Buildings
Accumulated Depreciation - Buildings
Office Equipment
Accumulated Depreciation Equipment
Advances for Payroll
Accounts Payable
Due to Officers and Employees
Due to BIR
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Accumulated Surplus (Deficit)
Tax on Delivery Vans and Trucks
Waterworks System Fees
Subsidy from NG
Salaries and Wages, Regular
PERA
Office Supplies Expense
Water Expenses
Electricity Expenses
Telephone Expenses
Janitorial Expenses
Security Expenses
Totals
Debit
Credit
30,000
250,000
43,000
120,000
20,000
800,000
650,000
660,000
180,000
90,000
333,000
50,000
240,000
1,210,000
380,000
20,000
130,000
20,000
60,000
40,000
80,000
100,000
2,753,000
2,753,000
P a g e | 30
Requirement (4): Adjusting Journal Entries
(AJE1.1
)
Depreciation-Buildings & Other
Structures
Accumulated Depreciation –
Bldgs.
30,000
30,000
To recognize depreciation of buildings
(AJE1.2
)
Depreciation-Machinery and Equipment
Accumulated Depreciation – O.E.
20,000
20,000
To recognize depreciation of office
equipment
(AJE2)
Impairment Loss – Loans and
Receivables
Allowance for Impairment – A/R
5,000
5,000
To recognize loss allowance on
accounts receivable
(AJE3)
Subsidy from National Government
Cash-Modified Disbursement
System (MDS), Regular
To recognize reversion of unused NCA
Requirement (5): Worksheet
43,000
43,000
P a g e | 31
P a g e | 32
Requirement (6): Closing entries
(CL1
)
Accumulated Surplus/(Deficit)
Cash-Treasury/Agency Deposit,
Regular
250,000
250,00
0
To recognize closing of cash deposit
account
(CL2
)
Tax on Delivery Vans and Trucks
Waterworks System Fees
Subsidy from National Government
Salaries and Wages, Regular
PERA
Office Supplies Expense
Water Expenses
Electricity Expenses
Telephone Expenses
Janitorial Expenses
Security Expenses
Depreciation-Bldgs.
Depreciation-Mac. & Equipt.
Impairment Loss – L/R
Revenue and Expense Summary
50,000
240,000
1,167,00
0
To recognize closing of income and
expense accounts
(CL3
)
Revenue and Expense Summary
Accumulated Surplus/(Deficit)
To recognize closing of revenue and
expense summary
380,00
0
20,000
130,00
0
20,000
60,000
40,000
80,000
100,00
0
30,000
20,000
5,000
572,00
0
572,000
572,00
0
P a g e | 33
Requirement (7): Statement of Financial Position
ENTITY A
STATEMENT OF FINANCIAL POSITION
(REGULAR AGENCY FUND)
AS AT DECEMBER 31, 20X1
Note
ASSETS
s
Current Assets
Cash and Cash Equivalents
Receivables
1
30,000
115,000
Inventories
20,000
Total Current Assets
165,000
Noncurrent Assets
Property, Plant and Equipment
2
580,000
Total Noncurrent Assets
580,000
TOTAL ASSETS
745,000
Current Liabilities
Financial Liabilities
Total Current Liabilities
90,000
90,000
TOTAL LIABILITIES
90,000
TOTAL ASSETS less TOTAL
LIABILITIES
NET ASSETS/EQUITY
655,000
P a g e | 34
Accumulated Surplus/(Deficit)
TOTAL NET ASSETS/EQUITY
655,000
665,000
P a g e | 35
Requirement (8): Statement of Financial Performance
ENTITY A
STATEMENT OF FINANCIAL PERFORMANCE
(REGULAR AGENCY FUND)
FOR THE YEAR ENDED DECEMBER 31, 20X1
REVENUE
Tax revenue
Service and Business Income
TOTAL REVENUE
Less: CURRENT OPERATING EXPENSES
Personnel Services
Maintenance and Other Operating
Expenses
Non-cash Expenses
TOTAL CURRENT OPERATING
EXPENSES
Notes
50,000
240,000
290,000
3
4
5
400,000
430,000
55,000
885,000
SURPLUS/ (DEFICIT) FROM
CURRENT OPERATIONS
(595,000)
Net Financial Assistance/Subsidy
1,167,000
SURPLUS/ (DEFICIT) FOR THE PERIOD
572,000
P a g e | 36
Requirement (9): Notes to the Financial Statements
ENTITY A
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 20X1
Note 1: Receivable
This account consists of the following:
Accounts Receivable
Allowance for Impairment - A/R
Net
120,000
(5,000)
115,000
Note 2: Property, Plant and Equipment
This account consists of the following:
Buildings
Office Equipment
Total Cost
800,000
660,000
1,460,000
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Total Accumulated Depreciation
680,000
200,000
880,000
Property, Plant and Equipment, net
580,000
Note 3: Personnel Services
This account consists of the following:
Salaries and Wages, Regular
PERA
Personnel Services
380,000
20,000
400,000
P a g e | 37
Note 4: Maintenance and Other Operating Expenses
This account consists of the following:
Office Supplies Expense
Water Expenses
Electricity Expenses
Telephone Expenses
Janitorial Expenses
Security Expenses
Maintenance and Other Operating Expenses
130,000
20,000
60,000
40,000
80,000
100,000
430,000
Note 5: Non-cash Expenses
This account consists of the following:
Depreciation-Buildings & Other Structures
Depreciation-Machinery and Equipment
Impairment Loss – Loans and Receivables
Non-cash Expenses
30,000
20,000
5,000
55,000
P a g e | 38
PROBLEM 3-9: FOR CLASSROOM DISCUSSION
Solutions:
a. Recording in the Registry of Appropriations and Allotments
(RAPAL). No journal entry yet.
b. Recording in the RAPAL and appropriate Registries of
Allotments, Obligations and Disbursements (RAOD)
maintained by object of expenditure. No journal entry yet.
c. Recording in RAOD and Obligation Request and Status
(ORS). No journal entry yet.
d. Journal entry:
Date
Cash-Modified Disbursement System
(MDS), Regular
Subsidy from National
Government
325M
325M
To recognize receipt of NCA from
DBM
e. Journal entry:
Dat
Salaries and Wages, Regular
e
Personal Economic Relief Allowance
(PERA)
Due to BIR
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Due to Officers and Employees
280M
20M
75M
15M
15M
8M
187M
To recognize payable to officers and
employees upon approval of payroll
 Updating of ORS.
f.
Journal entry:
Advances for Payroll
Cash-Modified Disbursement
System (MDS), Regular
Date
To recognize grant of cash advance
187M
187M
P a g e | 39
for payroll
 Updating of ORS and RAOD.
g. Journal entry:
Date
Due to Officers and Employees
Advances for Payroll
187M
187M
To recognize liquidation of Payroll
Fund
h. Journal entry (in the entity’s books):
Date
Cash-Tax Remittance Advice
Subsidy from National
Government
75M
75M
To recognize the constructive receipt
of NCA for TRA
Date
Due to BIR
Cash-Tax Remittance Advice
75M
75M
To recognize constructive remittance
of taxes withheld to the BIR through TRA
i.
Journal entry:
Due to GSIS
Due to Pag-IBIG
Due to PhilHealth
Cash-Modified Disbursement
System (MDS), Regular
Date
15M
15M
8M
38M
To recognize remittance to GSIS,
Pag-IBIG and PhilHealth
 The ORS and RAOD are updated for the payments above.
j.
Journal entry:
Accounts receivable
Rent/Lease income
Date
700M
700M
To recognize billing of income
k. Journal entry:
Date
Cash – Collecting Officers
550M
P a g e | 40
Accounts Receivable
550M
To recognize collection of billed income
Date
Cash-Treasury/Agency Deposit,
Regular
Cash – Collecting Officers
550M
550M
To recognize remittance of income to
BTr
l.
Journal entry:
Subsidy from National Government
Cash-Modified Disbursement
System (MDS), Regular
Date
100M
100M
To recognize reversion of unused
NCA
Cash-Modified Disbursement System (MDS), Regular
Receipt of
NCA
325M
187
M
38
M
Advances for payroll
Remittances to GSIS,
Pag-IBIG, & PhilHealth
100
M
end
P a g e | 41
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