GOVERNMENT ACCOUNTING FELOMINA C.

GABIOLA

Lukang Agency, NGA, has the following account balances on July 1, 20 Debit
Cash. MDS, regular ###
Cash. MDS, Trust 35,000
Cash-Treasury/Agency Deposit, Regular 150,000
Cash-Treasury/Agency Deposit, Trust 30,600
Due From GOCCs 5,000
Receivable-Disallowances-charges 4,250
Due from Officers and employees 2,500
Building ###
Accum. Depreciation
Office Equipment ###
Accum. Depreciation
Motor Vehicle ###
Accum. Depreciation
Construction in Progress-Infra Assets ###
Guaranty Deposits Payable
Accumulated Surplus
Subsidy from National Government
Other Business Income
Miscedllaneous Income
Travelling Expenses
totals ###

The following are transactions of Lucban Agency for CY 2018 were as follows:
1. Received from DBM NCA in the total amount P4,000,000 for payment of PS, MOOE and CO, and P10,000 for Tru
2. Issuances of checks
a. A. Alina, cash advances on salaries, P1,010,000. Payroll shown below:
Salaries ###
PERA ###
LESS: Life and Ret. Contributions ###
PAGIBIG Contributions ###
MEDICARE Contributions ###
With. Taxes ###
Net Salaries
Government Share
Life and Ret. Contributions ###
ECIP 5,750.00
PAGIBIG Contributions ###
MEDICARE Contributions ###
b..On Aug. 16, 2018, paid Alma Const. in full for the Repair of agency's own building., net of tax of P135,000, P1,3
c. C. Carlos received a check for P13,550 representing payment of travelling expenses.
 d. To BB Const.,15% mobilization on the contract amount of P2,500,000, less taxes of P37,500, for the.Const. of F

e. Paid Sun Book Store, office supplies for use in the office, worth P 125,000 less taxes of P12,500,and Acer Com
P50,000 less taxes of P5,000, acquired Oct. 5, 2018. (one entry only)
f. BB Const. in full payment of the contract, less taxes of P212,500
g. To DQT Builders amounting to P40,000 to payment of guaranty deposit payable.
h. Remittance to GSIS, PAGIBIG and Medicare (Just one entry)
i. To BIR, all remittances of taxes through TRA. And Set up of Cash-TRA
3. Liquidation Report
a.. A. Alina liqudated his cash advances on salaries.(Pls. see refund in item 4c)
4. COLLECTIONS
a. GSIS - bill no. 2018-06-1234 (recorded as receivable) Guaranty deposit payable - P5,000.
b. CC Const. - disallowed payments on Rep. of Isabang Elem. School, prior years, P 4,250 (reported as Receivab
c. A. Alina, excess cash advances on salaries.
d. Various Contractors, sale of bid proposals, P10,000
5. Deposits/Remittances (one entry only)
All collections were remitted to the Bureau of Treasury and/or to authorized depository banks.
Additional information:
1. Inventories at the end of the Year: Office Supplies - 85% used
2. Life of Assets (from July to December, 2018)
Office Equipment/computers - 5 years; Motor Vehicles- 10 years; Off. Building - 30 years.
3. Breakdown of CIPs are Road network, P 5,200,0000, balance to Flood control. Almost 50% of the Road network w
Completed.
REQUIRED:1. Journalize the above-mentioned transaction, including adjusting entries and closing of the following ca
Cash, MDS, Regular Cash, TAD, Reg.
Cash, MDS, Trust
 Lukang Agency AJE2
A C. GABIOLA 1 Cash MDS-Reg. 4000000
SNG 4000000
credit Cash MDS-Trust 10000
Cash-TAD, Trust 10000
2a Salaries abd Wages 1,000,000
PERA 300,000
Due to GSIS Payable 90,000
Due to PAGIBIG Payable 30,000
Due to PHIC Payable 25,000
Due to BIR 150,750
Due to Officers and Employees 1,004,250
400,000 Ret. And Life Ins. Premium Cont. 125,750 AJE 3
PAGIBIG Premium Cont. 30,000
96,000 PHIC Premium Contribution 25,000
Due to GSIS Payable 125,750
342,857 Due to PAGIBIG Payable 30,000 Closing of Cash MDS-Reg.
Due to PHIC Payable 25,000 CE #1
65,600 Advances for Payroll 1,010,000
### Cash MDS-Reg. 1,010,000
### 2b RM-Building 1,500,000
155,000 Due to BIR 135,000
2,500 Cash MDS-Reg. 1,365,000
2c Travelling expenses 13,550
### Cash MDS-Reg. 13,550
2d Advances to contractor 375,000
Due to BIR 37,500
OE and CO, and P10,000 for Trust receipts Cash MDS-Reg. 337,500
2e Off. Supplies Invty. 125,000
Off. Equip. 50,000
Due to BIR 17,500 CE #2
### Cash MDS-Reg. 157,500
2f CIP-Infra Assets 2,500,000
Advances to contractor 375,000
Due to BIR 212,500
### Cash MDS-Reg. 1,912,500
### 2g GDP 40,000
Cash MDS-Trust 40,000
2h Due to GSIS Payable 215,750 CE #3
Due to PAGIBIG Payable 60,000
Due to PHIC Payable 50,000
### Cash MDS-Reg. 325,750
ng., net of tax of P135,000, P1,365,000. 2i Cash-Const. Income Remittance 553,250
SNG 553,250
es of P37,500, for the.Const. of Flood Control. Due to BIR 553,250
Cash-Const. Income Remittance 553,250

taxes of P12,500,and Acer Computer worth

3a Due to Officer and Employee 1,004,250

Advances for Payroll 1,004,250

4a Cash-Collecting Officer 5,000

Due from GOCCs 5,000
4b Cash-Collecting Officer 4,250
Receivable-Dis./charges 4,250
4c Cash-Collecting Officer 5,750
, P 4,250 (reported as Receivable) Advances for Payroll 5,750
4d Cash-Collecting Officer 10,000
Other Business Income 10,000
5a Cash-TAD, Reg. 20,000
sitory banks. Cash TAD Trust 5,000
Cash-Collecting Officer 25,000

AJE1 Office Supplies Exp. 106250

ding - 30 years. Office Supplies Invty. 106250
most 50% of the Road network was 100% 125,000 x .85

es and closing of the following cash

 Depn. Exp.-OE 112,000
Accum. Depn.-OE 112,000 Building
1 1200000 x .80/5 x 6/12 96,000 bb bal ###
2 '50000 x .80/5 x 3/12 16,000 112,000
Accum. Depreciation-BLdg
Depn. Exp.-Bldg. 66667 bb
Accum. Depn.-Bldg. 66667 AJE#2
5,000,000 x .80/30 x 1/2 133333.33 bal.
Depn. Exp.-MV 120000 Office Equipment
Accum. Depn.-MV 120000 bb ###
3000000 x .80/10 x 1/2 240000 Accum. Depreciation-OE
bb
Road Netwok 2600000
CIP-Infra Assets 2600000 bal.
5,200,000 x 50% Motor Vehicle
bb ###
Closing of Cash MDS-Reg. Accum. Depreciation-MV
SNG 378,200 bb
Cash-MDS, Reg. 378,200
Cash-MDS, Reg. bal.
BB k 1,500,000 2a 1,010,000 Construction in Progress-Infra Assets
1 k 4,000,000 2b 1,365,000 bb ###
k 2c 13,550 2f ###
k 2d 337,500 AJE#3
k 2e 157,500 ###
k 2f 1,912,500 bal. ###
k 2h 325,750 Guaranty Deposits Payable
5,500,000 5,121,800 bb
CE#1 378,200 2g 40,000
### ### 40,000
Cash-TAD Trust 5000 bal.
Cash-MDS, Trust 5000 Accumulated Surplus
Cash-MDS, Trust bb bal.
BB 35,000 2g 40,000 CE#3 170,000
1 10,000 - 170,000
45,000 40,000
CE#2 5000 Subsidy from National Government
45,000 45,000 bb
Government Equity 170,000 1
Cash-TAD Regular 170,000 ,2i
Cash-TAD Regular
BB 150,000 - CE#1 378,200
5a 20,000 378,200
170,000 0 Bal.
CE#3 170,000
170,000 170,000 Other Business Income
bb
Cash-Treasury/Agency Deposit, Trust 4d
BB 30,600 0 Bal.
CE#2/1 5000 10000 Miscellaneous Income
5a 5,000 bb Bal.
40,600 10,000 Salaries and Wages
Balance 30,600 ok 2 Bal. ###
Due From GOCCs
BB 5,000 PERA
4a 5000 2 Bal/ 300,000
Receivable-Disallowances-charges
BB 4,250 Due to GSIS Payable
4b 4,250 2
Due from Officers and employees 2
BB Bal. 2,500 2h 215,750
Advances to contractor
2d 375,000 Due to PAGIBIG Payable
2f 375,000 2
2
Office Supplies Invty. 2h 60,000
2e 125,000
AJE#1 106250
125,000 106,250
Bal. 18,750
 Due to BIR
2 150,750
2b 135,000
2d 37,500
400,000 2e 17,500
66667 2f 212,500 Cash-TAD, Trust
466,667 2i 553,250 Due from Officers and employees
553250 553250 Offi. Supplies Ivty.
Road Network
Due to Off/ and emp. Building
96,000 2 ### Accum. Depreciation-BLdg
112,000 3a ### Office Equipment
208,000 ### ### Accum. Depreciation-OE
Ret. And Life Inc. Premium Cont. Motor Vehicle
2 bal 125,750 Accum. Depreciation-MV
CIP-Infra Asets
342,857 PAGIBIG Premium Cont. GDP
120000 2 bal 30,000 Acum. Surplus
462,857 Subsidy from National Government
gress-Infra Assets PHIC Premium Contribution Other Business Income
2 bal 25,000 Miscellaneous Income
Salaries and Wages
2600000 Advance for Payroll PERA
### 2 ### Ret. And Life Inc. Premium Cont.
3a ### PAGIBIG Premium Cont.
4c 5,750 PHIC Premium Contribution
65,600 ### ### Travelling Exp.
RM-Building RM-Building
65,600 2b bal ### Office Supplies Exp.
25,600 Depn.-Bldg
Travelling Exp. Depn.-OE
### 2c b al 13,550 Depn.-MV

### Cash-Const. Income Remittance Grand Total

### 2i 553,250 553,250 Surplus
nal Government
### Cash-Collecting Officer CE No. 3- closed Cash TAD, Regular to Accum. Surp
4000000 4a 5,000
553,250 4b 4,250
### 4c 5,750
4d 10,000
### 5a 25,000
### 25,000 25,000
155,000
10,000 Office Supplies Exp.
165,000 AJE31 Bal. 106250

2,500 Depn. Exp.-OE

AJE#2 Bal. 112,000

Depn. Exp.-Bldg
AJE#2 Bal. 66667

Depn. Exp.-MV
AJE#2 Bal. 120000
90,000
125,750 Road Net Work
AJE#3 Bal. 2600000

ICT Equip.
30,000 2e Bal. 50,000
30,000 Due to PHIC Payable
2 25,000
2 25,000
2h 50,000
50,000 50,000
 -
-
Pre-ClosingTB Income Statement `balance Sheet Statement of Changes in Net As
30,600 30,600
nd employees 2,500 2,500
18,750 18,750
### ###
### ###
466,667 - 466,667
### ###
208,000 - 208,000
### ###
462,857 - 462,857
### ###
25,600 25,600
### ###
nal Government ### ###
165,000 165,000
2,500 2,500
### ###
300,000 300,000
125,750 125,750
30,000 30,000
25,000 25,000
13,550 13,550
### ###
106,250 106,250
66,667 66,667
112,000 112,000
120,000 120,000

### ### ### ###

(0) ### ###
### ### ### ###
ash TAD, Regular to Accum. Surplus 170,000
170,000
t of Changes in Net AsPOST CLOSING TRIAL BALANCE
30,600
2,500
18,750
###
###
- 466,667
### -
- 208,000
### -
- 462,857
### -
- 25,600
### ###

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