Republic of the Philippines

PALAWAN STATE UNIVERSITY

Junior Philippine Society of Mechanical Engineers

Statement of Financial Position

As of June 30, 2017

Assets: Note
Current Assets:
Cash and Cash Equivalents 24,419.00
Receivable from Members 1 192,965.00
Receivable from CEAT-CS 2 2,172.00
Receivable from Prior Adm 3 6,971.25
Allowance for Bad Debts 4 (6,915.00)
Total Current Assets 219,612.25

Equipment:
Sports Equipment 5 -
Total Assets 219,612.25

Net Assets:
Unrestricted 35,962.25
Temporarily Restricted 183,650.00
Permanently Restricted -
Total Net Assets 219,612.25
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philipine Society of Mechanical Engineers

Statement of Cash Flows

For the Month Ended June 30, 2017

Cash Flows from Operating Activities:

Cash received from members - Membership fee 8,070.00
Cash received from members - Acquaintance party -
Cash received from members - Organizational shirt -
Cash shortage due from prior administration (6,971.25)
Cash received from collected receivables - CEAT-CSC 10,428.00
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 11,526.75

Cash flows from Investing Activities

Payment for Sports Equipment
-

Cash flows from Financing Activities -

Net Increase (Decrease) in Cash and Cash Equivalents 11,526.75

Cash and Cash Equivalents at beginning of Month 12,892.25
Cash and Cash Equivalents at end of Month 24,419.00
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philippine Society of Mechanical Engineers

Statement of Activities
For the Month Ended June 30, 2017

Unrestricted Temporarily Permanently Total

Restricted Restricted
Revenues:
Membership Fee - -
Acquaintance Party - -
Organizational Shirt - -
Total Revenues - - - -

Net Assets Released from Restrictions:

Satisfaction of Program Requireme

Total Net Assets released from Restri - -

Total Revenue - - - -

Expenses:
Acquaintance Party - - - -
Intramurals - - - -
Melympics - - - -
CEAT Week - - - -
University Day - - - -
General & Admin 46,358.05 - - 46,358.05
Total Expenses 46,358.05 - - 46,358.05

Changes in Net Assets (46,358.05) - - (46,358.05)

Net Assets beginning of month 82,320.30 ### - 265,970.30

Net Assets end of the month 35,962.25 ### - 219,612.25

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

Statement of Functional Expenses

For the Month Ended June 30, 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 - - - - - - - 39,265.00 39,265.00
Other Expense - - - - - - - - -
Loss on Asset Dispos - - - - - - - 7,093.05 7,093.05
Total Expenses - - - - - - - ### 46,358.05
 Republic of the Philippines
PALAWAN STATE UNIVERSITY
Junior Philippine Society of Mechanical Engineers

Notes to Financial Statements

For the Month Ended June 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 ### - 17,385.00 8,070.00 - 9,315.00
Acquaintance Fe ### - 106,450.00 - ### ###
Organizational S ### - 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 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 Cash Received Shortage

12,892.25 5,921.00 ###

Note 4: Allowance for Bad Debts

The beginning receivable from members - membership fee of Php 6,915.00 is in doubt of collect
Page 1 of 2
 Note 5: Schedule of Sports Equipment

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

administration of which should be

0 is in doubt of collection.
Page 2 of 2