Reference no: EM132768611
Question - Transactions of a certain government agency:
Receipt of notice of appropriation amounting to P1,000,000.
Receipt of allotment from the DBM amounting to P980,000
Incurrence of obligations amounting to P880,000.
Receipt of Notice of Cash Allocation amounting to P850,000.
Accrual of P500,000 salaries upon approval of payroll. The breakdown is as follows:
Salaries and wages 450,000
PERA 50,000
Gross Compensation 500,000
Withholding Tax 125,000
GSIS 25,000
Pag-ibig 20,000
PHIC 12,000
Total salary deductions 182,000
Granting of cash advance for the payroll
Liquidation of the cash advance for payroll
Receipt of delivery of purchased office supplies worth P200,000 from current year's obligation.
Payment of P180,000 accounts payable. Taxes withheld amount to P10,000.
Remittance of all taxes withheld to BIR.
Remittance of other amounts withheld to the other government agencies concerned.
Billing of revenue for Power Supply System Fees amounting to P200,000.
Collection of P200,000 from billed revenue and remittance of the total collection to the National Treasury.
Reversion of unused NCA.
Required -
1. Record the above transactions or events. If no journal entry is needed, state the registry or other document where the transaction or event is recorded.
2. How much is reported as unreleased appropriation in the entity's Budget Accountability Report?
3. How much is reported as unobligated allotment in the entity's Budget Accountability Report?
4. How much is reported as Not yet Due and Demandable Obligations in the entity's Budget Accountability Report?
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