PROBLEM ONE

Provide the journal entry to record each of the independent transactions or events below.
If no journal entry is needed, state the registry or other document whete the transaction
or even is recorded.
1 Receipt of 1,000,000 NCA.
2 Remittance to the BIR of 100,000 tax withheld.
3 Receipt of 1,000,0 Allotment
4 Receipt of 1,200,000 Appropriation
5 Entering into a purchase contract for future delivery. The contract price is 500,000
6 Entering into employment contract worth 200,000.
7 Billing of 250,000 revenue for Affiliation Fees, subsequent collection of 200,000
therefrom, and full remittance of the collection to the BTr.
8 Reversion of the unused NCA, 50,000.
9 Receipt oequipment purchased on account for 100,000
10 Payment of accounts payable from purchase of office supplies worth 60,000.
Tax withheld amount to 3,000.

PROBLEM TWO
Record the following transactions or events. If no journal entry is needed, state the registry or
other documents where the transactions or events is recorded.
a. Receipt of the notice of appropriation amounting to 1,000,000.
b. Receipt of Allotment from the DBM amounting to 980,000.
c. Incurrence of Obligation amounting to 880,000
d. Receipt of the Notice of Cash Allocation amounting to 850,000.
e. Accrual of 500,000 salaries upon approval of payroll breakdown as follows:
Salaries and Wages 450,000
PERA 50,000
Gross Compenaation 500,000
Withholding tax 125,000
GSIS 25,000
Pag-IBIG 20,000
PhilHealth 12,000

f. Granting of cash advance for payroll

g. Liquidation of cash advance for payroll
h. Receipt of delivery of purchased office supplies worth
200,000 from current year's obligation
i. Payment of 180,000 accounts payable. Taxes withheld
amount to 10,000.
j. Remittance of all taxes withheld to the BIR
k. Remittance of other amounts withhled to the other
government agencies concerned.
l. Billing of revenues for Power Supply System Fees amounting 200,000
m. Collection of 200,000 from billed revenue and remittance of the total
collection to the National Treasury.
n. Reversion of unused NCA.
o. How much if reported as unreleased appropriation in the entity;s BAR.
P. How much is reported as unobligated allotment in the entity's BAR.
Q. How much is reported as Not Yet Due and Demandable Obligations in the
entity's BAR?
ents below.

e the registry or