Republic of the Philippines

PALAWAN STATE UNIVERSITY

Junior Philippine Society of Mechanical Engineers

Statement of Financial Position

As of September 30, 2017

Assets: Note
Current Assets:
Cash and Cash Equivalents 85,339.26
Receivable from Members 1 26,760.00
Receivable from CEAT-CS 2 2,172.00
Receivable from Prior Adm 3 6,971.25
Allowance for Bad Debts 4 -
Total Current Assets 121,242.51

Equipment:
Sports Equipment 5 -
Total Assets 121,242.51

Net Assets:
Unrestricted 18,068.74
Temporarily Restricted 103,173.77
Permanently Restricted -
Total Net Assets 121,242.51
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philipine Society of Mechanical Engineers

Statement of Cash Flows

For the Semester Ended September 30, 2017

Cash Flows from Operating Activities:

Cash received from members - Membership fee 9,260.00
Cash received from members - Acquaintance party 82,400.00
Cash received from members - Organizational shirt 75,700.00
Cash shortage due from prior administration (6,971.25)
Cash received from collected receivables - CEAT-CSC 10,428.00
Cash paid for Acquaintance Party (80,476.23)
Cash paid for Intramurals (8,338.00)
Cash paid for Melympics -
Cash paid for CEAT Week -
Cash paid for University Day -
Cash paid for Management and General Expense (9,555.51)
Net cash provided by (used for) operating activities 72,447.01

Cash flows from Investing Activities

Payment for Sports Equipment
-

Cash flows from Financing Activities -

Net Increase (Decrease) in Cash and Cash Equivalents 72,447.01

Cash and Cash Equivalents at beginning of Semester 12,892.25
Cash and Cash Equivalents at end of Semester 85,339.26
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philippine Society of Mechanical Engineers

Statement of Activities
For the Semester Ended September 30, 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 - 80,476.23 - 80,476.23
Intramurals 8,338.00 - - 8,338.00
Melympics - - - -
CEAT Week - - - -
University Day - - - -
General & Admin 55,913.56 - - 55,913.56
Total Expenses 64,251.56 80,476.23 - 144,727.79

Changes in Net Assets (53,781.56) ### - 49,392.21

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

Net Assets end of the month 18,068.74 ### - 121,242.51

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

Statement of Functional Expenses

For the Semester Ended September 30, 2017

Program Services Supporting Services

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

Food Expense ### ### 4,218.00 - - - ### - -

Supplies Expense ### ### - - - - ### 1,733.25 1,733.25
Miscellaneous 4,000.00 - - - - - - 4,000.00 4,000.00
Transportation 1,061.00 800.00 50.00 - - - 850.00 211.00 211.00
Printing and Copyin 485.00 - 70.00 - - - 70.00 415.00 415.00
Organizational Shirt - - - - - - - - -
Rent Expense 2,500.00 2,500.00 - - - - 2,500.00 - -
Bad Debt Expense ### - - - - - - 39,265.00 39,265.00
Other Expense ### ### 4,000.00 - - - ### 3,196.26 3,196.26
Loss on Asset Dispos 7,093.05 - - - - - - 7,093.05 7,093.05
Total Expenses ### ### 8,338.00 - - - ### ### 55,913.56
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philippine Society of Mechanical Engineers

Notes to Financial Statements

For the Semester Ended September 30, 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 6,915.00 10,470.00 17,385.00 9,260.00 ### 1,210.00
Acquaintance Fe 7,150.00 99,300.00 106,450.00 ### ### ###
Organizational S ### 84,350.00 109,550.00 ### ### 8,650.00
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 Bag 12,500.00 10,428.00 2,072.00
Total ###

Note 3: Receivable from Prior Administration

The current administration has only received Php 5,921.00 from the prior administration of whi
Php 12,892.25, the beginning balance of cash.

Beginning Balance of Cash, May Cash Received Shortage

12,892.25 5,921.00 ###

Note 4: Allowance for Bad Debts

Fee ProvisionsWrite-Ofs Balance

Membership Fee 6,915.00 6,915.00 -
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 Note 5: Schedule of Sports Equipment

Beginning Balance
Acquisitio Total Write-OfsBalance
7,093.05 - ### 7,093.05 -

administration of which should be

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