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  • Gov Acc Answers Drill

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    Princes Lariba
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    The document records 17 transactions involving a government agency. It received a P55 million subsidy from the national government which was used to pay salaries and wages of P350,000, PERA of P70,000, and employer contributions. Funds were also allocated for operations, supplies, services, and allowances. Disbursements were made through modified disbursement system and advances to officers and employees.

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    Government accounting answers drill

    Original Title

    GOV-ACC-ANSWERS-DRILL

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    The document records 17 transactions involving a government agency. It received a P55 million subsidy from the national government which was used to pay salaries and wages of P350,000, PERA of P70,000, and employer contributions. Funds were also allocated for operations, supplies, services, and allowances. Disbursements were made through modified disbursement system and advances to officers and employees.

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views1 page

    Gov Acc Answers Drill

    Uploaded by

    Princes Lariba
    The document records 17 transactions involving a government agency. It received a P55 million subsidy from the national government which was used to pay salaries and wages of P350,000, PERA of P70,000, and employer contributions. Funds were also allocated for operations, supplies, services, and allowances. Disbursements were made through modified disbursement system and advances to officers and employees.

    Copyright:

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

    1. Dr. Cash - Modified Disbursement System (MDS), Regular - P55,000,000; Cr.

    Subsidy from National Government - P55,000,000

    2. Dr. Advances to Officers and Employees - P90,500; Dr. Training Expenses P4,500;
    Cr. Cash - Modified Disbursement System (MDS), Regular - P95,000

    3. Dr. Salaries and Wages - Regular - P350,000; Dr. Personnel Economic Relief
    Allowance (PERA) - P70,000; Cr. Due to BIR - P40,000; Cr. Due to GSIS - P51,500;
    Cr. Due to PhilHealth - P4,000; Cr. Due to Pag-IBIG - P6,000; Cr. Other Payables -
    P30,000; Cr. Due to Officers and Employees - P288,500

    4. Dr. Advances for Payroll - P288,500; Cr. Cash - Modified Disbursement System
    (MDS), Regular - P288,500

    5. Dr. Due to Officers and Employees - P288,500; Cr. Advances for Payroll -
    P288,500

    6. Dr. Retirement and Life Insurance Premiums - P42,000; Dr. PhilHealth


    Contributions - P6,000; Dr. Pag-IBIG Contributions - P9,000; Cr. Cash - Modified
    Disbursement System (MDS), Regular - P57,000

    7. Dr. Due to GSIS - P51,500; Dr. Due to PhilHealth - P4,000; Dr. Due to Pag-IBIG -
    P6,000; Dr. Other Payables - P30,000; Cr. Cash - Modified Disbursement System
    (MDS), Regular - P91,500

    8. Dr. Traveling Expenses - Local - P90,500; Cr. Advances to Officers and Employees
    - P90,500

    9. Dr. Petty Cash Fund - P10,000; Cr. Cash - Modified Disbursement System (MDS),
    Regular - P10,000

    10. Dr. Representation Allowance - P9,000; Dr. Transportation Allowance - P9,000;


    Cr. Cash - Modified Disbursement System (MDS), Regular - P18,000

    11. Dr. Office Supplies Inventory - P25,000; Cr. Due to BIR - P1,339; Cr. Cash -
    Modified Disbursement System (MDS), Regular - P23,661

    12. Dr. Office Supplies Expenses - P4,100; Dr. Traveling Expenses - P700; Dr.
    Postage and Courier Services - P1,300; Dr. Fuel, Oil and Lubricants Expenses -
    P1,850; Cr. Cash - Modified Disbursement System (MDS), Regular - P7,950

    13. Dr. Office Supplies Expenses - P15,000; Cr. Office Supplies Inventory - P15,000

    14. Dr. Advances to Special Disbursing Officer - P18,000; Cr. Cash - Modified
    Disbursement System (MDS), Regular - P18,000

    15. Dr. Legal Services - P40,000; Cr. Cash - Modified Disbursement System (MDS),
    Regular - P40,000

    16. Dr. Security Services - P425,000; Cr. Cash - Modified Disbursement System
    (MDS), Regular - P412,250; Cr. Due to BIR - P12,750

    17. Dr. Supplies and Materials Expenses - P10,000; Dr. Rewards and Incentives -
    P5,000; Dr. Fuel, Oil and Lubricants Expenses - P3,000; Cr. Advances to Special
    Disbursing Officer - P18,000

    18. Dr. Training Expenses - P4,000; Dr. Per Diems - Civilian - P6,300; Dr.
    Traveling Expenses - Local - P1,100; Cr. Cash - Modified Disbursement System (MDS),
    Regular - P11,400

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