Receipt of foreign grant for the construction of expressway:
Books of BTr
Cash in Bank-Local Currency, BSP 120M
Other deferred credits 120M
Books of Agency
Cash-MDS, Special Account 120M
Subsidy from National Government 120M
Purchase of Construction Materials and payment of labor:
Construction in Progress - Infrastructure Assets 120M
Cash-MDS, Special Account 120M
Books of BTr
Subsidy from National Government 120M
Cash in Bank-Local Currency, BSP 120M
Completion of the construction:
Books of Agency
Expressway Systems 120M
Construction in Progress - Infrastructure Assets 120M
Books of BTr
Other deferred credits 120M
Income from Grants and Donations in cash 120M
NCA IS NET OF TAX
Remittance of tax withheld by the agency: (Constructive receipt of NCA for TRA)
Cash-Tax Remittance Advice
Subsidy from National Government
Constructive remittance to BIR of taxes withheld through TRA:
Due to BIR
Cash-Tax Remittance Advice
Receipt of the following collections by the agency:
Subsidy from another agency 400,000
Assistance from local government of Davao 200,000
Assistance from GSIS 200,000
Cash-Collecting Officer 800000
Subsidy from other NGAs 400000
Assistance from LGUs 200000
Assistance from GOCCs 200000
Remittance of collection to BTr:
Cash-Treasury/Agency Deposit, Regular 800000
Cash-Collecting Officer 800000
Receipt of performance bond/security deposit
Cash-collecting officer 100M
Guaranty/Security deposits payable 100M
1 Memo entry
2 Cash-MDS, Regular 104 810,000.00
Subsidy from National Government 601 810,000.00
3 Memo entry
4 Memo entry
5 Petty cash fund 10,000.00
Cash-MDS, Regular 104 10,000.00
6 Prepaid rent 10,000.00
Cash-MDS, Regular 104 10,000.00
7 Salaries & Wages 701 109,600.00
PERA 702 20,000.00
Due to BIR 503 26,000.00
Due to GSIS 504 6,600.00
Due to Pag-Ibig 505 1,300.00
Due to Philhealth 506 2,000.00
Due to officers and employees 502 93,700.00
7 Advances for payroll 202 93,700.00
Cash-MDS, Regular 104 93,700.00
7 Due to officers and employees 502 93,700.00
Advances for payroll 202 93,700.00
7 Cash-Tax Remittance Advise 106 26,000.00
Subsidy from National Government 601 26,000.00
7 Due to BIR 503 26,000.00
Cash-Tax Remittance Advise 106 26,000.00
8 Cash-Collecting Officer 102 1,200,000.00
Service income 604 1,200,000.00
9 Office Equipment 402 200,000.00
Accounts Payable 501 200,000.00
10 Office supplies inventory 302 1,000.00
Accounts payable 501 1,000.00
11 Accounts payable 501 200,000.00
Cash-MDS, Regular 104 200,000.00
12 Electricity Expense 706 5,000.00
Cash-MDS, Regular 104 5,000.00
13 Accounts Payable 501 1,000.00
Cash-MDS, Regular 104 1,000.00
14 Cash-Treasury Agency Deposit 105 26,000.00
Cash-Collecting Officer 102 26,000.00
15 Office supplies expense 709 700.00
Office supplies inventory 302 700.00
16 Depreciation expense 710 20,000.00
Accumulated Depreciation 404 20,000.00
17 Rent Expense 711 5,000.00
Prepaid Rent 301 5,000.00
18 Subsidy from National Government 601 495,300.00
Cash-MDS, Regular 104 495,300.00
Cash-MDS, Regular 104 340,700.00
Subsidy from National Government 601 340,700.00
1 Memo entry posted to RAOD
2 Cash - MDS, Regular 2,000,000.00
Subsidy from National Government 2,000,000.00
3 Memo entry posted to RAOD
4 Salaries and Wages - Regular 400,000.00
PERA 50,000.00
ADCOM 50,000.00
Due to BIR 60,000.00
Due to GSIS 45,000.00
Due to Pag-Ibig 6,000.00
Due to Philhealth 4,000.00
Advances to Officers and Employees 385,000.00
5 Advances for payroll 385,000.00
Cash - MDS, Regular 385,000.00
6 Due to officers and employees 385,000.00
Advances for payroll 385,000.00
7 Due to Insurance 45,000.00
Due to Pag-Ibig 6,000.00
Due to Philhealth 4,000.00
Cash - MDS, Regular 55,000.00
8 Memo entry posted to RAOD
9 Life and Retirement Premium 45,000.00
Pag-Ibig Premium 6,000.00
Philhealth Premium 4,000.00
Cash - MDS, Regular 55,000.00
10 Prepaid Rent 60,000.00
Due to BIR 6,000.00
Cash - MDS, Regular 54,000.00
11 Electricity Expenses 50,000.00
Due to BIR 5,000.00
Cash - MDS, Regular 45,000.00
12 Telephone Expense 30,000.00
Due to BIR 3,000.00
Cash - MDS, Regular 27,000.00
13 Advances to officers and employees 50,000.00
Cash - MDS, Regular 50,000.00
14 Travel Expenses 40,000.00
Advances to officers and employees 40,000.00
15 Cash - Collecting Officer 10,000.00
Advances to officers and employees 10,000.00
16 Cash - Treasury/Agency Deposit, Regular 10,000.00
Cash - Collecting Officer 10,000.00
17 Petty Cash Fund 30,000.00
Cash - MDS, Regular 30,000.00
18 Office Supplies Expense 20,000.00
Postage and Couriers Expense 8,000.00
Cash - MDS, Regular 28,000.00
19 Office Equipment 300,000.00
Accounts Payable 300,000.00
20 IT Equipment and Software 500,000.00
Accounts Payable 500,000.00
21 Accounts Payable 800,000.00
Due to BIR 80,000.00
Cash - MDS, Regular 720,000.00
22 Due to BIR 154,000.00
Cash - TRA 154,000.00
Cash - TRA 154,000.00
Subsidy from National Government 154,000.00
23 Advances to Procurement Service 50,000.00
Cash - MDS, Regular 50,000.00
24 Office Supplies Inventory 50,000.00
Advances to Procurement Service 50,000.00
25 Office Supplies Expense 45,000.00
Office Supplies Inventory 45,000.00
26 Depreciation expense - Office Equipment 27,000.00
Depreciation expense - IT Equipment 50,000.00
Accumulated Depreciation - Office Equipment 27,000.00
Accumulated Depreciation - IT Equipment 50,000.00
27 Advances for Rent Expense
(60,000 x 6/12) 30,000.00
Prepaid Rent 30,000.00
28 Subsidy from National Government 501,000.00
Cash - MDS, Regular 501,000.00
Cash - MDS, Regular 1,653,000.00
Subsidy from National Government 1,653,000.00
NOTE: TAXES (DUE TO BIR) ARE ALWAYS MULTIPLIED BY 10%
