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  • Accounting For Government and Non - Profit Organizations

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    Randelle James Fiesta
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    This document provides an accounting activity/assignment involving the liquidation of a payroll fund for a government or non-profit organization. The activity involves recording 4 journal entries - to record salaries and wages expenses and transfer funds to various benefit agencies like BIR, GSIS, and PhilHealth; to record the transfer of funds for payroll from advances to cash; to record the amount owed to employees from payroll as due to officers and employees; and to record the transfer of funds from advances to a cash-collecting officer.

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    This document provides an accounting activity/assignment involving the liquidation of a payroll fund for a government or non-profit organization. The activity involves recording 4 journal entries - to record salaries and wages expenses and transfer funds to various benefit agencies like BIR, GSIS, and PhilHealth; to record the transfer of funds for payroll from advances to cash; to record the amount owed to employees from payroll as due to officers and employees; and to record the transfer of funds from advances to a cash-collecting officer.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    5 views1 page

    Accounting For Government and Non - Profit Organizations

    Uploaded by

    Randelle James Fiesta
    This document provides an accounting activity/assignment involving the liquidation of a payroll fund for a government or non-profit organization. The activity involves recording 4 journal entries - to record salaries and wages expenses and transfer funds to various benefit agencies like BIR, GSIS, and PhilHealth; to record the transfer of funds for payroll from advances to cash; to record the amount owed to employees from payroll as due to officers and employees; and to record the transfer of funds from advances to a cash-collecting officer.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    MODULE ACCOUNTING FOR GOVERNMENT AND NON-PROFIT ORGANIZATIONS

    CHAPTER 3

    ACTIVITY/ASSIGNMENT (5 pts)

    1. The entry to record the liquidation of payroll fund is


    a. Salaries and Wages, Regular 300
    0
    Personal Economic Relief Allowance (PERA) 800
    Due to BIR 0 100
    Due to GSIS 100
    Due to Pag-IBIG 100
    Due to PhilHealth 100
    Due to Officers and Employees 100
    b. Advances for Payroll 500
    Cash-Modified Disbursement
    System (MDS), Regular 500
    c. Due to Officers and Employees 400
    Advances for Payroll 400
    d. Cash-Collecting Officers 200
    Advances for Payroll 200

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