ACTIVITIES/ASSESSMENTS:
Exercise 1:
A government agency had the following transactions during the month:
1) Established petty cash fund, P100,000.
2) Replenishment of the petty cash fund: Office Supplies Expense, P40,000 Travelling Expenses-
Local, 30,000 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.
Required: Journalize the above transactions.
DATE DESCRIPTION UACS DEBIT CREDIT
1 Petty Cash Fund 10101020 100,000
Cash-Modified Disbursement System, Regular 10104040 100,000
To recognize establishment of PCF to cover expenses
2 Office Supplies Expenses 50203010 40,000
Travelling Expenses-Local 50201010 20,000
Representation Expenses 50299030 10,000
Cash-Modified Disbursement System, Regular 10104040 70,000
To recognize replenishment of petty cash fund.
3 Electricity Expenses 50204020 112,000
Accounts Payable 20101010 112,000
To recognize receipt of MERALCO bill.
4 Telephone Expenses 50205030 44,800
Accounts Payable 20101010 44,800
To recognize receipt of PLDT bill.
5 Accounts Payable 20101010 44,800
Cash- Modified Disbursement System, Regular 10104040 42,000
Due to BIR 20201010 2,800
To recognize payment of PLDT bill received.
44,800/1.12=40,000*.07=2,800
6 Accounts Payable 20101010 112,000
Cash- Modified Disbursement System, Regular 10104040 105,000
Due to BIR 20201010 7,000
To recognize payment of MERALCO bill.
112,000/1.12=100,000*7%=7,000
7 Prepaid Rent 19902020 134,400
Cash- Modified Disbursement System, Regular 10104040 122,400
Due to BIR 20201010 12,000
To recognize advanced payment for rental of office
space.
8 No Entry
9 Advances to Officers and Employees 19901040 5,000
Cash- Modified Disbursement System, Regular 10104040 5,000
To recognize payment of seminar fee.
10 Training Expenses 50202010 5,000
Advances to Officers and Employees 19901040 5,000
To recognize liquidation of cash advance for local
travel upon receipt of supporting documents.
11 No Entry
12 Advances to Officers and Employees 19901040 30,000
Cash-Modified Disbursement System, Regular 10104040 30,000
To recognize payment of per diems and allowances
for local travel.
13 Traveling Expense-Local 50201010 30,000
Advances to Officers and Employees 19901040 30,000
To recognize liquidation of traveling expenses
incurred.
14 No Entry
15 Office Equipment 10605020 35,000
Accounts Payable 20101010 35,000
To recognize receipt of office equipment in credit.
16 Accounts Payable 20101010 35,000
Cash-Modified Disbursement System, Regular 10104040 33,125
Due to BIR 20201010 1,875
To recognize payment of machinery purchase.
17 Due from National Government Agencies 10303010 100,000
Accounts Payable 20101010 100,000
To recognize obligation for purchase of IT Equipment
per PO.
18 Accounts Payable 20101010 100,000
Cash-Modified Disbursement System, Regular 10104040 100,000
To record advanced payment to procurement
services for IT Equipment.
19 Information and Communication Technology Equipment 10605030 100,000
Due from National Government Agencies 10303010 100,000
To recognize receipt of IT Equipment.
Exercise 3:
The following are the transactions of a national government agency:
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.
DATE DESCRIPTION UACS DEBIT CREDIT
1 Post to the appropriate RAPAL and RAOD.
-No Entry-
2 Cash-Modified Disbursement System, Regular 10104040 4,000,000
Subsidy from National Government 40301010 4,000,000
To recognize receipt of NCA from the DBM.
3 Post the ORS to the appropriate RAOD.
4 Salaries and Wages-Regular 50101010 800,000
PERA 50102010 100,000
Representation Allowance 50102020 50,000
Transportation Allowance 50102030 50,000
Due to BIR 20201010 240,000
Due to GSIS 20201020 90,000
Due to Pag-IBIG 20201030 12,000
Due to PhilHealth 20201040 20,000
Due to Officers and Employees 20101020 638,000
To recognize liabilities to officers and
employees upon approval of payroll.
5 Advances for Payroll 19901010 638,000
Cash-Modified Disbursement System, Regular 10104040 638,000
To recognize grant of cash advance for
payroll.
6 Due to Officers and Employees 20101020 638,000
Advances for Payroll 19901010 638,000
To recognize liquidation of payroll fund.
7 Due to GSIS 20201020 90,000
Due to Pag-IBIG 20201030 12,000
Due to PhilHealth 20201040 20,000
Cash-Modified Disbursement System, Regular 10104040 122,000
To recognize remittance of salary deductions
issued to GSIS, Pag-IBIG, and PhilHealth.
8 Retirement and Life Insurance Premiums 50103010 120,000
Pag-IBIG Contributions 50103020 12,000
PhilHealth Contributions 50103030 20,000
Accounts Payable 20101010 152,000
To recognize obligation for government’s
share in deductions.
9 Accounts Payable 20201010 152,000
Cash-Modified Disbursement System, Regular 10104040 152,000
To recognize remittance of government’s
share in deductions.
10 Prepaid Rent 19902020 134,400
Cash-Modified Disbursement System, Regular 10104040 122,400
Due to BIR 20201010 12,000
To recognize payment of rent.
TRUE OR FALSE
1. TRUE
2. TRUE
3. TRUE
4. FALSE
5. FALSE
6. TRUE
7. TRUE
8. TRUE
