Documenti di Didattica
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"{ILIPPIFIES
MANILA
II
The notice of cash allocation (NCA) receivecl hy the agelrlcy frcm the DBlvl is lournalized in
the regular agency books (RA books). The ctner set of books of an agency is the national
government books (NG books)for income items they are not authorized to tlse.
dr{,.;
- RAOCO
- RAOPS
. F,AOMO
. RAOFH
Generallyr, withheld taxes by the agenciv afe no longer remitied tc BtR, but retained and
creciitecj to Subsidiary lncome from Naticnar Government (SING) under the Tax Remittance
Advrce (TRA) System. The NCA releasecl to the agency is reduced by the amount of
estimated withholding taxes pentinent tc the alictment uove;'ed bv the cash allocation
Asset/perpetual inventory method will be followed in the recording of expenditures if it
applies to more than one periocl rcr when payrnent is for rnaterials for stock. The expense is
taken up when the items are consurned.
Costs of assets being constructed are dehiied to coi-rstruction in progress account (using
construction period theory). This CIP account is closecl tn the eppropriate asset account
upon cornpletion.
Constructed Public lnfrastructures are not sl,own arficng tlre fixer: assets on the Statement
of Financial i)osition, rather they aie dedu;teC flEr;, ql!r;,n1llerr. equrity (as Oart of CloSing
entries) and transferred out tt: an appropr',ate regist:t
Deprecration on frxed assets are taken up on the nrcrnth fcllcrrv:ng the month of purchase or
completion of construction. A 1oo/o saiap value on tlie asset ir; always assumed and the
estimated life is prescribed by COA.
lncome for vvirich tne agency is authorizec to use for its c,pera';iot't is recortJed in the regular
agency books. lf the authority is wittr limitati,;rns, sircl-i a.i atil/ excr-si, is to be remitted to the
National Treasury the collections shall first be recorrlet; in the 'egular agency books, the
expensee joiirnalized, and the excess is io he renritteC io the lqationai Treasury and
recorded in the agency's NG hrooks.
Two trial balances are prepared:
a) Pre-closing trial balance whicfr is aiso the a,Jrustccj trial tralance from which the
slatement of incoirne arnd expense is prepareC.
b) Post-clrrsing trial halance fron, which the stateinsrit of financial position is
prepared.
AdjustinE etrtries at end of period are the sanle as those recoi'Jed in comniercial accounting
rhp.^74,C?
r
'r
Closing entries are similar to commercial accounting with some minor differences'
Note that there is a new expense ciassification, the financial expenses. They are
categclzed separately from the MOOE since they are not operating expenses' lt shall
for
maintarn separate ,"gittry for leases from the Special Purpose Fund, the Registry
Special Purpose Funds Appropriation (RESPFA)'
and
The DBM shall maintain the Registrv of Allotrnent and NCA (RANCA) for the allotments
the
of
record
the NCA issued to the agency. ih" nnruCA shall be the control and monitoring
DBM, The DBM shall furnisn ihe Brireau of Treasury a copy of the NCA.
FINANCIAL STA"1"IMENTS
NOT FOR
PROFIT
ORGANIz.,TIONS
Organizations
Statement of Functional
Expenses
Statement
of
to
commercial
PAfl-74aq
Endowment fund
Permanent - PrinciPal is it: be rnaintaineii indefiru'ieiy in revenue providing
a. 'investments
b. Term - principal rnay b,e expended after passage ot a period of time
c. euasr- endowment - established by Boar"d of Llirectcrs under its control
Contributions - contributions of cash ancl other assets are recogl"lized when received and
credited to contributions revenue (Festncteij cr Unre*iricied). tlorrtribuied services and
facilities are recognized both as expenses anC contributiolts revenue$, net of expenses
Pleclges - unconditir:nal plectrges are reoognized as racei,rabies and ccntributions revenue
(reslircteci or unrestricte,f) nf propi"iate;r provi',icns frr,;',Jo"tbii'ul cled,;e':s f,re ai:;o to lre set up'
Expenses and losses
ali expenses cf th;; friF]0 are ;'ecr;gnizecl trr the: unr"ei;ti"icted fund
b)
qvE
Rr'N
EN
T Aq:O
NTI Flq
The Department of Health received ;1r". allot:re;ni frorn l]epartn]enl of Btidget and
Management for Capitai Outlay P2,:100,C00; Mai:ttenance ancl other Operating
Experises P740.000; and Personal Ser'.rices P'i,100,0r)0 Vl,ihat will he the entry of
the DQH in its regular aEency books upon receipts ol allctnrenl?
4,i 40,000
4,14CI,000
14r ,],00;',
4,14"0,*C0
Z.
C.
D.
h4emo Entry
..,'!,1{l,CCO
140,00C
The Departrnent of Foreign Affarrs issued plri"cf,as* or;i::r lr.' tl':e ar;qllisiiiorl of office
equipment costrng P1,920,00e . Tire (,(lr.iipnlenl v,i,:l3 1'1'"".;1,,,,ris.1 v'lith tl're charge
invoice and was Jrbsequentiv paiei bi,che.:r., aftet rvii.r:r'.)itl;il!l ia,'tes cf 107o The
DFA remitted the tax witnheld to Brirr:a- c':f lnterncil F',.i','e,ile lhrr.: an authorized
government depository lrank. Vdhat rs I'h"* e;"rtrv cf Dh-A ii ie(,-',ci tir* payment'/
':,!20
Accounts payable
Cash - Disbr-irsirig Offic;e,"
Due to EIR
(j'l)0
i, i 28.000
192,000
Office Equipment
Cash - Disbursirg Offic*i"
Due in Blfl
C.
Accounts payahrle
Due to BIR
Cash * Collecting Cftil;*r
I,3.
,il2:i
iJLIC)
1,728,000
192,000
u,ilrJ0
192,000
.-.'/
,,., .^ i'"t
*, 1,, -- t'.(!"{l i
i.)
i Ft r\v'
I 728.000
Accounts payable
Due to BIR
Cash - National TreasurY
1,920,000
192,000
1,728,000
MDS
of
Department of Public \A/orks and Highways transfers cash
was
The_project
project.
Park
p5,400,000 to Department of Tourism for a Peoples'
17, 2012 What
completed by the implementing agencyidepartment on December
of the project?
is the entry of source agency/department to recorrj the completion
5,400,000
5,400,000
5,400,000
5,400,000
5,400,000
5,400,000
5,400,000
5,400,000
Corp'
signecl a construction contract with ABC Builders
of the contact
for the construction of Building, pz,soo,000. The agency paid 20%
from ABC
billing
first
its
price. After 6 months. the Depifiment of Education received
paid
the first
company
Builders ctorp. g0% of the contact prrce cn the 7il' month, the
on
department
the
of
entry
brllrng less P1 500 000 withholding tax \A/hat will be the
its books upon recelving the first billing?
Building
Accounts PaYable
6,750,000
Accounts PaVaPle
Cash National TreasurY
Due to BIR
6,750,000
C. Constructicn
Acclitnts
6,750,000
5,250,000
1,500,000
fu1DS
6,750,000
itr Progre$s
PaYable
5,250,000
1,500,000
D. Construction in Progress
1,500,000
5,250,000
Advances to contractors
Accounts PaYable
5,
tax by the
What is the entry to recorcl the collection of P3,250,000 corporate income
Bureau of lnternal Re';enue rn its national government books?
Cash
3,2s0,000
3,250,000
3,250,000
C. Cash in bank -
LCCA
lncome tax - CorPoratien
3,250,000
D.
3,250,000
Collecting officer
lncome tax -- CorPoration
3,250,000
3,250,000
3,250,000
2*v4aq
C.
Cash
D
7.
Cash
1rl 400,000
14,.400,000
NT, MDS
Subsidy lncome f:'crn
NG
NT, MDS}
Subsidy lncome fro:'rr
ttlG
:2
;bi) 0riC
1:j,15Q,C00
i4,400,000
14 400,000
The Department of Justice proviied travelling experise,s i{:-, cnc rf i'l,s oFficers, Mr.
Ping fcr an amount of P25,000. T'he travellinpj rxprsyls45 was ,;rrintt",cl to Iu4r. Ping
on February 1.2013. Subsequently fir PinE llaurlrJatrrci itc cash advance in the
amouni of P20,000. -Ihe excess lvere :elirr;red to DC,.l hy !',*r lrr,"'g
The entry to record the granttnq cf ca-qh actrvance tc
A.
cash
eriirlsyses
fLrlDS
i:S,ilf"tfl
25,000
N-:-,
?.i:,i"\Qli
25,,10{l
?5,000
Mf':S
N"f,
Pingi ,vz:s.
t'lT,
I'lr
?'
COC
25,*0:l
t'4nS
25 000
8. The Department
A.
Prepaid
Rent
Cash
3'5 OCil
-N]",MI-;S
C.
Rent
Expense
Cash
N1".
375 00C
3IS,000
MLrS
-1,21,000
D. Prepaid Rent
375,110J
9.
3,7",000
The Department of Trade and lndustry ,r;as grarrieri advtnces i'cr pav.oll amounting
to P1,5C)0,000 The entry woukJ he.
A.
Casl'i Disbursing
Cash _NT,
Officer
Payroll
MDS
Cash Drsbursing
^i,bC:,LC0
'i 5C0,00C
,!
Officer
50Ci (li){l
aOC 00C
rle.i*7,4oq
1,50C,r.'t0il
1.53[t 000
(/
10.
Agency ABC collected cash of P2C0,00C for services rendered. The collectton was
deposited to PSBank. What is the entry to record the deposit?
A.
Cash - NT
Cash
- MDS
-
Collecting
officer
Cash-- NT
Cash
- MDS
- Disbursing officer
200,000
200,000
200,000
200,000
200,000
200,000
200,000
200,000
A.
Bank
Charges
payable
10,000
Charges
Cash-NT-MDS
10,000
10,000
Accounts
B.
C.
D.
Bank
Bank Charges
Cash in Bank
10,000
10,000
- LCCA
Bank Charges
Cash Disbursing Officer
10,000
10,000
10,000
NON.PROFIT ORGANIZATIOH
1.
QPS Hospital had the following cash receipts and disbursements for the year ended
December 31 , 2013.
'
P2,500,000
500,000
'1,000,000
17s,000
200,000
750,000
1,075,000
The interest recetved from perrnanent endowment is restricted by the donor for acquisition of
medical equipment.
How much is the net cash provided by operating activities?
A
B
c
D
P1,675,000
Pi,875,000
P2,050,000
P2,175,000
Px2^7@?
2.
NPC University, a private not-for-profit university, had the fcllowing r:ash inflows during
the year ended June 30, 2013.
/
,r
On NP University's staternent r:f cash flcws for rhe yeai endec Jtlne 3ti, 20i3, lvhat arnount
of these cash flows should be reported as financing activitres?
A
B
c
D
P1,400 000
P3,650,000
P5.400,000
P2,25C,000
NGC College, a private noi-for-pr*fii cclle;e recei'aed p.i,8itC,C'00 from Dr. Wu on May
?-5,2Q1S. Or Wu stipuiated that his rc:-itributiofi |;e r.rseil to sLjpool-i facuity r"esearch and
bookwritingsemrnaisciuringthefiscaiyearbeglnningtin'i:'li'''';:a'ilonJuly15'2013'
adrninistrators of NGO Cc,llege awarCe,i seininar ai'id iraining grants totaiing P3,900,000
to several faculty mernbers in ai:corciarrce n'ith the wtshes or t:ltl tJorior.
lriGCr College
sh:ultl
repCIrt
the
P4,800,000
contribution as
A
B
C.
VPS College, a private not-fcr-prr:fit *r:ilege, re,.le:\ici:, tne fnlln'anng contributions during
201 3.
P3,125,000 from CHED for far:r.rlt3- aeadenric adi'.i,'icem#nls s,tar"ting acnciemic year
2C'14.
P625,000 from a donor who stipulated that tlre coririL,utien be l:lvi:ste:cj in perpetuity and
thatthe earnings be used for rencvation *f tfie nrain iiL;rery As r:t December 31,2013,
earnings from investrnent amountecl to Pli1,25li
For the year ended Decem'cer 31, ?t113, *,,!:ai anrilul'i c( ilts:se i.:*-,r;irrk)ut;ons should be
reported as temporarily restrictecl revenueE on tlre stal*inont of ;"rctlrritres?
A
B
c
D
P31,250
P3 156,250
P3,125,000
P3,781,250
Jf {irc',n I'}ported
':
12,000,000
?5C,000
t,cOc,000
750,000
'+5C,ilO0
Net patient service revenues fcr YKB hosp,t,;l for the )'sar srrl,jt){j Iierenrher 1]1, 2013 is
A
B
c
D
P 11,250,000
P10,550,000
P9,800,000
P9,550,000
PAli"-74"09
the
During 2013, ZT{i i-lospital purcl-rased medictnes for hospital use totaling P1,000,000.
lncluded in the P1,000,000 was an invoice of P100,000 that was canceled in 2013 by the
vendor becau,le the ,rendor wished to donate this medicine to ZTS. The donation should
be recorded a.,
A. An increase
Fund estiiblished at a puhrlic college by donors who have stipulated that the principal is
nonexpenciable, but that the income generated nray be expended by current operating
funds, would be accounteo for in the
Annuity fund
Temporarily restricted fund
Pure-endovr;ment fund
Current-f und restricted
B
D
A.
Unrestricted gift
A.
10. On the statement of activities for a private not-for-profit performing arts center, expenses
should be deducted from
Unres:tricted revenue
Temporarily restricted revenues
Pei"nt ".: nentii' i-r:siricted reven ues
il
ill
l, li anci ili
Both I and il
! only
li onili
11. OBT Museum, a private nonprofit organizatron, has both regular and term endowments.
On the rn'-i$eum's statement of financial position, how should the net assets of each type
of endornirient bc repr:,rted?
A.
!J
C
ti
Term Endowrnenis_
Temporarily restricteci
Permanentiy restricteti
Unrestricted
Temporarily restricted
lTe,eular Endowment
Permanently restricted
Permanently restricted
1-ern porarily restricted
Temporarily restricted
PkT-740q
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12 Revenue
frem room changes for telephone calls anC teievision croct':eds florn cafeterias,
gift shops and snack bars of not for proflt hosprtals are reccrded as:
A.
B
C
D
13.
During the year ended December 31,2A13 a not for profit pedoi-ming arts entity received
the foliowing donor-restricted contributiort and investment income.
o
o
As a result of these cash receipts, the statenrent oi cash flcws for the year ended December
31,2013 would report an rnrrease of
A.
B
C
D
"end
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