ULO A Let’s Analyze Activity 2

Submitted by:

Sherry Rose M. Olimba

Submitted to:

Ms. Myra T. Miraflores

Let’s Analyze

Activity 2. Journalize the following transactions.

a. Receipt of P1,000,000 NCA.

b. Remittance to the BIR of P100,000 taxes withheld.
c. Receipt of P1,000,000 allotment.
d. Receipt of P1,200,000 appropriation.
e. Entering into employment contracts worth P200,000.
f. Billing of P250,000 revenue for Affiliation Fees, subsequent collection of
P200,000 therefrom, and full remittance of the collection to the Btr.

DEBIT CREDIT DEBIT CREDIT

a. Cash- National 1,000,000
Treasury, MDS
Subsidy Income from 1,000,000
National Government
b. Withholding Tax 100,000
Payable
Cash 100,000
c. Enter in allotment column of the RAOs
d. Enter in appropriation column of the RAOs
e. Salaries and 200,000
Wages – Contractual
Cash 200,000
f. Revenue Collection 200,000
Affiliation Fees 250,000