Republic of the Philippines

PALAWAN STATE UNIVERSITY

Junior Philippine Society of Mechanical Engineers

Statement of Financial Position

As of May 31, 2017

Assets: Note
Current Assets:
Cash and Cash Equivalents 12,892.25
Receivable from Members 1 233,385.00
Receivable from CEAT-CS 2 12,600.00
Receivable from Prior Admin. -
Allowance for Bad Debts -
Total Current Assets 258,877.25

Equipment:
Sports Equipment 3 7,093.05
Total Assets 265,970.30

Net Assets:
Unrestricted 82,320.30
Temporarily Restricted 183,650.00
Permanently Restricted -
Total Net Assets 265,970.30
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philipine Society of Mechanical Engineers

Statement of Cash Flows

For the Month Ended May 31, 2017

Cash Flows from Operating Activities:

Cash received from members - Membership fee -
Cash received from members - Acquaintance party -
Cash received from members - Organizational shirt -
Cash shortage due from prior administration -
Cash received from collected receivables - CEAT-CSC -
Cash paid for Acquaintance Party -
Cash paid for Intramurals -
Cash paid for Melympics -
Cash paid for CEAT Week -
Cash paid for University Day -
Cash paid for Management and General Expense -
Net cash provided by (used for) operating activities -

Cash flows from Investing Activities

Payment for Sports Equipment
-

Cash flows from Financing Activities -

Net Increase (Decrease) in Cash and Cash Equivalents -

Cash and Cash Equivalents at beginning of Month 12,892.25
Cash and Cash Equivalents at end of Month 12,892.25
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philippine Society of Mechanical Engineers

Statement of Activities
For the Month Ended May 31, 2017

Unrestricted Temporarily Permanently Total

Restricted Restricted
Revenues:
Membership Fee 10,470.00 10,470.00
Acquaintance Party 99,300.00 99,300.00
Organizational Shirt 84,350.00 84,350.00
Total Revenues 10,470.00 183,650.00 - 194,120.00

Net Assets Released from Restrictions:

Satisfaction of Program Requireme

Total Net Assets released from Restri - -

Total Revenue 10,470.00 ### - 194,120.00

Expenses:
Acquaintance Party - - - -
Intramurals - - - -
Melympics - - - -
CEAT Week - - - -
University Day - - - -
General & Admin - - - -
Total Expenses - - - -

Changes in Net Assets 10,470.00 ### - 194,120.00

Net Assets beginning of month 71,850.30 - - 71,850.30

Net Assets end of the month 82,320.30 ### - 265,970.30

 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philippine Society of Mechanical Engineers

Statement of Functional Expenses

For the Month Ended May 31, 2017

Program Services Supporting Services

Manageme
Total All Total Total
Acquaintance
IntramuralsMelympics
University DayCEAT Week nt and
Services Programs Supporting
General

Food Expense - - - - - - - - -
Supplies Expense - - - - - - - - -
Miscellaneous - - - - - - - - -
Transportation - - - - - - - - -
Printing and Copyin - - - - - - - - -
Organizational Shirt - - - - - - - - -
Rent Expense - - - - - - - - -
Bad Debt Expense - - - - - - - - -
Other Expense - - - - - - - - -
Loss on Asset Dispos - - - - - - - - -
Total Expenses - - - - - - - - -
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philippine Society of Mechanical Engineers

Notes to Financial Statements

For the Month Ended May 31, 2017

Note 1: Schedule of Receivables from Members

1st Sem
Items: No. of Students Required
Membership Fee ₱ 30.00 349
Acquaintance Fe ₱300.00 331
Organizational S ₱350.00 241

Receivable
Items Beginning 1st Sem from CollectionsWrite-Of Balance
Students
Membership Fee ### 10,470.00 17,385.00 - - ###
Acquaintance Fe ### 99,300.00 106,450.00 - - ###
Organizational S ### 84,350.00 109,550.00 - - ###
Total Balance ###

Note 2: Receivable from CEAT-CSC composed of the following:

Items Beginning Collections Balance

Leadership Seminar Entry 100.00 - 100.00
Leadership Training in Ba 12,500.00 - ###
Total ###

Note 3: Schedule of Sports Equipment

Beginning Balance AcquisitionTotal Write-OfsBalance

7,093.05 - 7,093.05 - ###
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