CHAPTER 21 - New Government Accounting System for National Government Agency.doc

CHAPTER 21  MULTIPLE CHOICE 21-1

b

21.2

a

21.3

a

21.4

b

21.5

b

21.6

a

21.7

c

21.8

a

21.9

a

21.10

c

21.11

d

21.12

b

21.13

b

21.14

a

21.15

a

Excess of income over expenses Depreciation Incr Increa ease se in due due from from nati nation onal al gove govern rnme ment nt agen agenci cies es Increase in prepaid rent Increase in accounts payale Cash provided by operating activities

P 200 70 ( 10) 10) ( 15) !0 P 275

1"2

 PROBLEMS P!b"#$ 21-1

1#

$emo entry in t%e &'P* &'$* &'+ and &',E#

2#

+as% - .ational /reasury - $D usidy Income from .ational overnment

2*000*000 2*000*000

!#

$emo entry in t%e &'P* &'$* &'+ and &',E#

"#

ffice euipment 'ccounts payale

50*000

+as% - Disursing fficer +as% - .ational /reasury - $D

"0*000

alaries and 3ages - &egular Personal economic relief allo3ance (PE&') 'dditional compensation Due to 4I& Due to I Due to Pagiig Due to P%il%ealt% +as% - Disursing fficer

""*000 !*000 !*000

Due to I Due to Pagiig Due to P%il%ealt% +as% - .ational /reasury - $D

5*500 "00 00

5#

#

7#

6#

8#

10#

11#

12#

50*000

"0*000

!*500 5*500 "00 00 "0*000

*500

ife and retirement contriution Pagiig contriution P%il%ealt% contriution +as% - .ational /reasury - $D

5*500 "00 00

Electricity /elep%one expense - andline 'ccounts payale Due to 4I& +as% - .ational /reasury - $D

5*000 "*000 50*000

Due to 4I& usidy income from national government

*500

5*000 5"*000 "*500 "*500

+as% - +ollecting fficer ales revenue Permit fees $iscellaneous income

80*000

+as% in 4an9 - ocal currency - +urrent account +as% - +ollecting fficer

80*000

"0*000 !0*000 20*000

80*000

1"!

P!b"#$ 21-2  Building 

1#

$emo entry in &'+#

2#

'dvances to contractor +as% - .ational /reasury - $D

2"0

+onstruction in progress - t%er Pulic Infrastructure 'dvances to contractor 'ccounts payale

"00

'ccounts payale Due to 4I& +as% - .ational /reasury - $D

10

+onstruction in progress - t%er Pulic Infrastructure 'ccounts payale

"00

'ccounts payale Due to 4I& +as% - .ational /reasury

"00

!#

"#

5#

#

7#

6#

Due to 4I& usidy income from national government ffice 4uilding +onstruction in progress - PI

2"0

2"0 10

"0 120

"00

"0 !0 60 60 600 600

 Repairs of Building 

1#

$emo entry in &'+#

2#

+onstruction materials inventory 'ccounts payale

70

'ccounts payale Due to 4I& +as% - .ational /reasury - $D

70

+onstruction in progress - t%er Pulic Infrastructure +onstruction materials inventory

0

!#

"#

5#

70

7 !

0

$emo entry in t%e &'+

1""

#

7#

6#

8#

+as% - Disursing fficer +as% - .ational /reasury - $D

!

+onstruction in progress - t%er Pulic Infrastructure Due to 4I& +as% - Disursing fficer

"0

Due to 4I& +as% - .ational /reasury - $D

"7

ffice uilding +onstruction in progress - PI

!

" !

"7 100 100

 Land:

1#

$emo entry in t%e &'+* P100#

2#

and

100 'ccounts payale

!#

'ccounts payale Due to 4I& +as% - .ational /reasury - $D

100 100 10 80

1"5

P!b"#$ 21-3 (a)

ournal !ntries:

1#

$emo entry in t%e &egistry of ligations and 'llotments#

2#

+as% - .ational /reasury - $D usidy income from national government

2*500 2*500

!#

$emo entry in &egistry of ligations and 'llotments#

"#

ffice euipment 'ccounts payale

120

I/ euipment and soft3are 'ccounts payale

!0

Prepaid rent +as% - .ational /reasury - $D

0

Electricity expense +as% - .ational /reasury - $D

50

/elep%one expense - andline +as% - .ational /reasury - $D

"0

Petty cas% fund +as% - .ational /reasury - $D

"5

'ccounts payale Due to 4I& +as% - .ational /reasury - $D

120

'ccounts payale +as% - .ational /reasury - $D

!0

Due to 4I& usidy income from national government

12

+as% - +ollecting fficer t%er service income ales revenue

50

+as% in an9 - ++' +as% - +ollecting fficer

50

5#

#

7#

6#

8#

10#

11#

12#

1!#

1"#

120

!0

0

50

"0

"5

12 106

!0

12

10 "0

50

1"

(b)

Pre"closing #rial Balance

Petty cas% fund +as% - .ational /reasury - $D +as% in 4an9 - ocal +urrency - +urrent 'ccount Prepaid rent ffice euipment I/ euipment and soft3are t%er service income ales revenue usidy income from national government Electricity expense /elep%one expense - landline /otal

"5 2*17 50 0 120 !0 10 "0 2*512 50 "0 2*52

2*52

$ %d&usting !ntries (1)

(2)

Depreciation - ffice euipment : soft3are Depreciation - I/ euipment 'ccumulated depreciation - ffice euipment 'ccumulated depreciation - I/ euip : soft3are

20 5

&ent expense Prepaid rent

!0

20 5

!0

Closing !ntries: %1&

Unused National Clearing Account (NCA) usidy income from national government +as% - .ational /reasury - $D  .+' received during t%e year ess; $D c%ec9 issued