ASIA PACIFIC COLLEGE OF ADVANCED STUDIES

FINAL EXAM
GOVERNMENT ACCOUNTING
NAME: ___________________________________________________
DATE:___________________
INSTRUCTOR:GEMINE AILNA PANGANIBAN
SCORE: _________________

The pre-closing trial balance of Agency VV on December 31, 2011 is as follows:

Particular
Cash in Vault
Cash Collecting Officers
Cash Disbursing Officers
Petty Cash Fund
Cash-National Treasury MDS
Cash in Bank LCCA
Accounts Receivable
Allowance for Doubtful Accounts
Office Supplies Inventory
Other Current Assets
Investments in Stocks
Land
Office Buildings
Accumulated Depreciation Office Building
Office Equipment
Accumulated Depreciation Office Equipment
Furniture and Fixtures
Accumulated Depreciation Furniture and Fixtures
IT Equipment and Software
Accumulated Depreciation IT Equipment and Software
Accounts Payable
Due to BIR
Due to GSIS
Due to Pag-Ibig
Due to PhilHealth
Other Payables
Government Equity
Subsidy Income from National Government
Salaries and Wages - Regular
PERA
Additional Compensation
Life and Retirement Insurance Contribution
Pag-Ibig Contributions
PhilHealth Contributions
Travelling Expenses Local
Office Supplies Expense
Electricity Expenses
Telephone Expenses Landline
Janitorial Services
Security Services
Repairs and Maintenance Office Building
Depreciation Office Building
Depreciation Office Equipment
Depreciation Furniture and Fixtures
Depreciation IT Equipment and Software
TOTAL
Required:
1. Prepare all the necessary closing entries
2. Prepare Statement of Income and Expenses
3. Prepare Balance Sheet

Debit
200
500
1,000
150
800
350
120

Credit

20
30
14
400
600
650
50
250
20
110
10
190
25
185
50
30
25
25
15
4,070
1,700
320
40
40
60
10
10
35
60
75
45
30
35
65
15
10
5
5
6,225

6,225