PANADA,TERENCE ANGELO F.

-BSMA-3
3-8 Worksheet Preparation
a.RAPAL
b.RAPAL and RAOD
c.ORS and RAOD
d.RANCA Cash-Modified Disbursement System (MDS) Regular 1,050,000
Subsidy from National Government
to recognize receipt of NCA from the DBM
e. Salaries and Wages.Regular 380,000
Personal Economic Relief Allowance (PERA 20,000
Due to BIR 90,000
Due to GSIs 30,000
Due to Pag IBIG 20,000
Due to Philhealth 10,000
Due to Officers and Employees 250,000

Advances for payroll 250,000

Cash,MDS,Regular 250,000

The payable is recorded in the ORS

Grant of Cash Advance for payroll

Due to Officers and Employees 250,000

Advances for Payroll 250,000

f.. Office Equipment Inventory 20,000

Accounts Payable 20,000

g. Accounts Payable 320,000

Cash MDS,Regular 300,000
Due to BIR 20,000

h. Office Supplies Inventory 150,000

Accounts Payable 150,000

i Accounts Payable 120,000

Due to BIR 10,000
Cash,(MDS),Regular 110,000

j Water Expenses 20,000

Electricity Expenses 60,000
Telephone Expenses 40,000
Janitorial Expenses 80,000
Security Expenses 100,000
 Due to BIR 20,000
Cash-(MDS),Regular 280,000

k. Office Supplies Expense 130,000

Office Supplies Inventory 130,000

l. Accounts Receivable 240,000

Waterworks System 240,000

m. Cash Collecting Officers 200,000

Accounts Receivable 200,000

Cash-Treasury/Agency Deposit,Regular 50,000

Cash-Collecting Officers 50,000

n. Cash-Treasury/Agency Deposit,Regular 50,000

Immigration Tax 50,000
o. Cash-Tax Remittance Advice 140,000
Subsidy from National Governement 140,000

Due to BIR 140,000

Cash-Tax Remittance Advice 140,000

p. Due to GSIS 30,000

Due to Pag IBIG 20,000
Due to Philhealth 10,000
Cash,(MDS),Regular 60,000

General Ledger

Assets

Cash Collecting Officers Cash Treasury/Agency Deposit,Regular

30,000 200,000
200000 200,000 50,000
Dr.30,000 Dr.250,000
Liabilities

Accounts Payable Due to Officers and Employees

60,000 250,000
20,000 250,000
320,000 -
320,000
150,000
120,000
Cr.110,000
Equity

Accumulated Surplus (Deficit)

333,000
Cr.333,000

Income

Immigration Tax Permit Fees Registration Fees

50,000
Cr.50,000

Expenses

Salaries and Wages,Regular PERA

380,000 Dr.20,000
Dr.380,000
1,050,000
y Deposit,Regular . Cash MDS,Regular Cash Tax Remittance Advice
1,050,000 140,000
250,000 1,400,000
300,000 -
110,000
280,000
60,000
Dr.50,000
 Due to BIR Due to GSIS
20,000 4000
90,000 30,000 30,000
20,000 Cr.4,000
10,000
20,000
140,000
Cr.20,000

Registration Fees Other Service Income Waterworks System Fees

240,000
Cr.240,000

Travelling Expense-Foreign Office Supplies Expense

Dr.130,000
Remittance Advice Accounts Receivable Office Supplies Inventory
80,000 150,000
240,000 130,000
200,000
Dr.120,000 Dr.20,000
 Due to Pag Ibig Due to Philhealth
2,000 1,000
20,000 10,000
20,000 10,000
Cr.2,000 1,000

s System Fees Landing and Parking Fees Subsidy from NG

1,050,000
Cr.240,000 140,000
Cr.1,190,000

plies Expense Water Expense Electricity Expense

Dr.20,000 Dr.60,000
plies Inventory Buildings Accum.Depreciation-Bldg
800,000 650,000

Dr.800,000 Cr.650,000
Cr.1,190,000

Electricity Expense Telephone Expense Janitorial Expense

Dr.40,000 Dr.80,000
preciation-Bldg Office Equipment
340,000
20,000
Cr.650,000 320,000
Dr.680,000
Security Expense
Dr.100,000
Accum.Depreciation Equipment Advances for Payroll
180,000 250,000
250,000
Cr.180,000 -
Advances to Officers and Employees
Landing and Pr
Adjusting Entries

Depreciation Expenses
1
Depreciation Expense Buildings 30,000
Accumulated Depreciation Building 30,000

Depreciation Expense-Office Equipment 20,000

Accumulated Depreciation-Office Equipment 20,000

Allowance for impairment on accounts receivables of P5,000

Impairment Loss--Loans and Receivables 5,000
Allowance for Impairment-Accounts Receivables 5,000

Subsidy from National Governme 50,000

Cash (MDS),Regular 50,000
 UNADJUSTED TRIAL BALANCE
Accounts Dr
Cash-Collecting Officers 30,000
Cash-Treasury/Agency Deposit,Regular 250,000
Cash-MDS,Regular 50,000
Cash-Tax Remittance Advice
Accounts Receivables 120,000
Office Supplies Inventory 20,000
Buildings 800,000
Accum.Depreciation-Bldg. 650,000
Office Equipment 680,000
Accum.Depreciation-Equipment 180,000
Advances for Payroll
Accounts Payable 110,000
Due to Officers and Employees
Due to BIR 20,000
Due to GSIS 4,000
Due to Pagibig 2,000
Due to Philhealth 1,000
Accumulated Surplus (Deficit) 333,000
Immigration Tax 50,000
Waterworks System Fees 240,000
Subsidy from National Government 1,190,000
Salaries and Wages,Regular 380,000
PERA 20,000
Office Supplies Expense 20,000
Water Expense 60,000
Electricity Expense 40,000
Telephone Expense 80,000
Janitorial Expense 100,000
Security Expense 130,000
Adjustments
Depreciation Expense-Buildings
Depreciation Expense-Office Equipment
Impairment Loss-Loans and Receivables
Allowance for Impairment A/R
Totals 2,780,000 2,780,000
 ADJUSTMENTS
Accounts Dr Cr
Cash-Collecting Officers 50,000
Cash-Treasury/Agency Deposit,Regular
Cash-MDS,Regular
Cash-Tax Remittance Advice
Accounts Receivables
Office Supplies Inventory
Buildings
Accum.Depreciation-Bldg. 30,000
Office Equipment
Accum.Depreciation-Equipment 20,000
Advances for Payroll
Accounts Payable
Due to Officers and Employees
Due to BIR
Due to GSIS
Due to Pagibig
Due to Philhealth
Accumulated Surplus (Deficit)
Immigration Tax
Waterworks System Fees
Subsidy from National Government 50,000
Salaries and Wages,Regular
PERA
Office Supplies Expense
Water Expense
Electricity Expense
Telephone Expense
Janitorial Expense
Security Expense
Adjustments
Depreciation Expense-Buildings 30,000
Depreciation Expense-Office Equipment 20,000
Impairment Loss-Loans and Receivables 5,000
Allowance for Impairment A/R 5,000
Totals 105,000 105,000
 ADJUSTED TRIAL BALANCE
Accounts Dr. Cr
Cash-Collecting Officers 30,000
Cash-Treasury/Agency Deposit,Regular 250,000
Cash-MDS,Regular
Cash-Tax Remittance Advice
Accounts Receivables 120,000
Office Supplies Inventory 20,000
Buildings 800,000
Accum.Depreciation-Bldg. 680,000
Office Equipment 680,000
Accum.Depreciation-Equipment 200,000
Advances for Payroll
Accounts Payable 110,000
Due to Officers and Employees
Due to BIR 20,000
Due to GSIS 4,000
Due to Pagibig 2,000
Due to Philhealth 1,000
Accumulated Surplus (Deficit) 333,000
Immigration Tax 50,000
Waterworks System Fees 240,000
Subsidy from National Government 1,140,000
Salaries and Wages,Regular 380,000
PERA 20,000
Office Supplies Expense 20,000
Water Expense 60,000
Electricity Expense 40,000
Telephone Expense 80,000
Janitorial Expense 100,000
Security Expense 130,000
Adjustments
Depreciation Expense-Buildings 30,000
Depreciation Expense-Office Equipment 20,000
Impairment Loss-Loans and Receivables 5,000
Allowance for Impairment A/R 5,000
Totals 2,785,000 2,785,000
 CLOSING ENTRIES
a.
Accumulated Surplus (Deficit) 250,000
Cash-Treasury/Agency Deposit,Regular 250,000
To recognize closing of cash deposit account

b.
Subsidy from National Government 1,140,000
Revenue and Expense Summary 1,140,000
To recognize closing of subsidy account

C.
Immigration Tax 50,000
Waterworks System Fees 240,000
Salaries and Wages,Regular 380,000
PERA 20,000
Office Supplies Expense 20,000
Water Expense 60,000
Electricity Expense 40,000
Telephone Expense 80,000
Janitorial Expense 100,000
Security Expense 130,000
Depreciation Expense-Buildings 30,000
Depreciation Expense-Office Equipment 20,000
Impairment Loss-Loans and Receivables 5,000
Revenue and Expense Summary -595,000
To recognize closing of income and expense accounts

d.
Revenue and Expense Summary 545,000
Accumu;ated Surplus (Deficit) 545,000
To recognize closng of revenue and expense summary
STATEMENT OF FINANCIAL PERFORMANCE STATEMENT OF FINANCIAL
Accounts Dr. Cr. Accounts
Cash-Collecting Officers Cash-Collecting Officers
Cash-Treasury/Agency Deposit,Regular Cash-Treasury/Agency Depos
Cash-MDS,Regular Cash-MDS,Regular
Cash-Tax Remittance Advice Cash-Tax Remittance Advice
Accounts Receivables Accounts Receivables
Office Supplies Inventory Office Supplies Inventory
Buildings Buildings
Accum.Depreciation-Bldg. Accum.Depreciation-Bldg.
Office Equipment Office Equipment
Accum.Depreciation-Equipment Accum.Depreciation-Equipme
Advances for Payroll Advances for Payroll
Accounts Payable Accounts Payable
Due to Officers and Employees Due to Officers and Employee
Due to BIR Due to BIR
Due to GSIS Due to GSIS
Due to Pagibig Due to Pagibig
Due to Philhealth Due to Philhealth
Accumulated Surplus (Deficit) Accumulated Surplus (Deficit)
Immigration Tax 50,000 Immigration Tax
Waterworks System Fees 240,000 Waterworks System Fees
Subsidy from National Government 1,140,000 Subsidy from National Govern
Salaries and Wages,Regular 380,000 Salaries and Wages,Regular
PERA 20,000 PERA
Office Supplies Expense 20,000 Office Supplies Expense
Water Expense 60,000 Water Expense
Electricity Expense 40,000 Electricity Expense
Telephone Expense 80,000 Telephone Expense
Janitorial Expense 100,000 Janitorial Expense
Security Expense 130,000 Security Expense
Adjustments Adjustments
Depreciation Expense-Buildings 30,000 Depreciation Expense-Building
Depreciation Expense-Office Equip 20,000 Depreciation Expense-Office E
Impairment Loss-Loans and Receiva 5,000 Impairment Loss-Loans and R
Allowance for Impairment A/R Allowance for Impairment A/R
Totals 885,000 1,430,000 Totals
545,000
1,430,000 1,430,000
MENT OF FINANCIAL POSITION
Dr Cr STATEMENT OF FI
llecting Officers 30,000 (REGULAR A
easury/Agency Deposit,Regu 250,000 AS AT DECE
DS,Regular
x Remittance Advice ASSETS
s Receivables 120,000 Current Assets
upplies Inventory 20,000 Cash and Cash Equiv
800,000 Receivables
Depreciation-Bldg. 680,000 Inventories
680,000 Total Current Assets
Depreciation-Equipment 200,000
s for Payroll Noncurrent Assets
s Payable 110,000 PPE
Officers and Employees Total Noncurrent Ass
20,000 TOTAL ASSETS
4,000
2,000 Current Liabilities
1,000 Financial Liabilities
ated Surplus (Deficit) 333,000 Total Current Liabilit

orks System Fees Total Liabilites

from National Government
and Wages,Regular Total Assets for Less

upplies Expense Net Asssets/Equity

Accumulated Surplus
y Expense Total Net Assets/Equ
ne Expense
l Expense

ation Expense-Buildings
ation Expense-Office Equipment
ent Loss-Loans and Receivables
ce for Impairment A/R 5,000
1,900,000 1,355,000
545,000
1,900,000 1,900,000
 ENTITY A
STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL PERFO
(REGULAR AGENCY FUND) (REGULAR AGENCY FUND)
AS AT DECEMBER 31,20X1 FOR THE YEAR ENDED DECEMBER

Notes Revenue
Current Assets Tax Revenue
Cash and Cash Equivalents 30,000 Service and Business Income
Receivables 115,000 Total Revenue
Inventories 20,000
Total Current Assets 165,000 Less:Current Operating Expenses
Personnel service
Noncurrent Assets Maintenance and oOther Operating
600,000 Noncash Expenses
Total Noncurrent Assets 600,000 Total Current Operating Expenses
TOTAL ASSETS 765,000
Surplus/Deficit from Current Opera
Current Liabilities
Financial Liabilities 110,000 Net Financial Assistance/Subsidy
Total Current Liabilities 110,000 Surplus (Deficict) for the Period

Total Liabilites 110,000

Total Assets for Less Total L655,000

Net Asssets/Equity
Accumulated Surplus (Defic 655,000
Total Net Assets/Equity 655,000
 ENTITY A
MENT OF FINANCIAL PERFORMANCE
(REGULAR AGENCY FUND) ENTITY A
E YEAR ENDED DECEMBER 31,20X1 NOTES TO FINANCIAL STATEMENTS
DECEMBER 31.20X1
Notes
50,000 Note 1:PPE
and Business Income 240,000 This account consists of the ff:
290,000 Buildings
Office equipment
rrent Operating Expenses Total Cost
el service 400,000
ance and oOther Operating Expenses 430,000 Accum. Depreciation-Bldg
Expenses 55,000 Accum.Depreciation-Equip
rrent Operating Expenses Total Accum.Depreciation

Deficit from Current Operations 235,000 PPE,Net

ncial Assistance/Subsidy 1,140,000 Note 2:Tax Revenue

(Deficict) for the Period 1,375,000 This account consists of the ff.:
Immigration Tax
Tax Revenue

Note 3:Service and Business Income

Waterworks System Fees
Service and Business Inco

Note 4:Personnel Service

This account consists of the ff:
Salaries and Wages,Regula
PERA
Personnel Service

Note 5:MOOE
This account consists of the ff.:
Office Supplies Expense
Water Expenses
Electricity Expenses
Telephone Expenses
Janitorial Expenses
Security Expenses
MOOE

Note 6:Non Cash Expenses

This account consists of the ff:
Depreciation Expenses-Buildings
Depreciation Expense-Office Equipmen
Impairment Loss-Loans and Receivabl
Non Cash Expenses

Note 7:The disbursements for the remitta

 ENTITY A
NANCIAL STATEMENTS
MBER 31.20X1

sists of the ff:

800,000
680,000
1,480,000

680,000
200,000
880,000

600,000

sists of the ff.:

50,000
50,000

nd Business Income
240,000
240,000

sists of the ff:

380,000
20,000
400,000

sists of the ff.:

20,000
60,000
40,000
80,000
100,000
130,000
430,000

Expenses
sists of the ff:
enses-Buildings 30,000
ense-Office Equipmen 20,000
-Loans and Receivabl 5,000
55,000

rsements for the remittance of GSIS,Pagibig and Philhealth are recorded in theOR
CLOSING ENTRIES
Accounts Dr. Cr.
Cash-Collecting Officers
Cash-Treasury/Agency Deposit,Regular 250,000
Cash-MDS,Regular
Cash-Tax Remittance Advice
Accounts Receivables
Office Supplies Inventory
Buildings
Accum.Depreciation-Bldg.
Office Equipment
Accum.Depreciation-Equipment
Advances for Payroll
Accounts Payable
Due to Officers and Employees
Due to BIR
Due to GSIS
Due to Pagibig
Due to Philhealth
Accumulated Surplus (Deficit) 250,000 545,000
Immigration Tax 50,000
Waterworks System Fees 240,000
Subsidy from National Government 1,140,000
Salaries and Wages,Regular 380,000
PERA 20,000
Office Supplies Expense 20,000
Water Expense 60,000
Electricity Expense 40,000
Telephone Expense 80,000
Janitorial Expense 100,000
Security Expense 130,000
Adjustments
Depreciation Expense-Buildings 30,000
Depreciation Expense-Office Equipment 20,000
Impairment Loss-Loans and Receivables 5,000
Allowance for Impairment A/R
Totals 1,680,000 1,680,000
POST CLOSING TRIAL BALANCE
Accounts Dr. Cr.
Cash-Collecting Officers 30,000
Cash-Treasury/Agency Deposit,Regular
Cash-MDS,Regular
Cash-Tax Remittance Advice
Accounts Receivables 120,000
Office Supplies Inventory 20,000
Buildings 800,000
Accum.Depreciation-Bldg. 680,000
Office Equipment 680,000
Accum.Depreciation-Equipment 200,000
Advances for Payroll
Accounts Payable 110,000
Due to Officers and Employees
Due to BIR 20,000
Due to GSIS 4,000
Due to Pagibig 2,000
Due to Philhealth 1,000
Accumulated Surplus (Deficit) 628,000
Immigration Tax
Waterworks System Fees
Subsidy from National Government
Salaries and Wages,Regular
PERA
Office Supplies Expense
Water Expense
Electricity Expense
Telephone Expense
Janitorial Expense
Security Expense
Adjustments
Depreciation Expense-Buildings
Depreciation Expense-Office Equipment
Impairment Loss-Loans and Receivables
Allowance for Impairment A/R 5,000
Totals 1,650,000 1,650,000