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CH Chapter 3

This document contains 10 multiple choice questions testing knowledge of government accounting processes and 10 problems requiring journal entries be recorded for basic government accounting transactions. The problems cover transactions like receiving appropriations and allotments, entering contracts, billing and collecting revenues, remitting funds, and paying accounts payable. The appropriate accounting registries are identified for transactions where journal entries are not required.

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391 views2 pages

CH Chapter 3

This document contains 10 multiple choice questions testing knowledge of government accounting processes and 10 problems requiring journal entries be recorded for basic government accounting transactions. The problems cover transactions like receiving appropriations and allotments, entering contracts, billing and collecting revenues, remitting funds, and paying accounts payable. The appropriate accounting registries are identified for transactions where journal entries are not required.

Uploaded by

Joseph Nariz
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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GOVERNMENT ACCOUNTING

CHAPTER 3: THE GOVERNMENT ACCOUNTING PROCESS

11. PROBLEM 3-4 MULTIPLE CHOICE

1. A 6. C
2. C 7. C
3. A 8. C
4. C 9. A
5. A 10. C

12. PROBLEM 3-6 BASIC RECORDING DRILLS

Instruction: 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 where the transaction
or event is recorded.

1. Receipt of P 1,000,000 NCA.


Cash – Modified Disbursement System (MDS), Regular 1,000,000
Subsidy from National Government 1,000,000
To recognize receipt of NCA from DBM

2. Remittance to the BIR of P 100,000 taxes withheld.


Cash – Tax Remittance Advice 100,000
Subsidy from National Government 100,000
To recognize the constructive receipt of NCA for TRA

Due to BIR 100,000


Cash – Tax Remittance Advice 100,000
To recognize the constructive remittance of taxes withheld to
the BIR through the TRA

3. Receipt of P 1,000,000 Allotment.


The receipt of the allotment of P 1,000,000 is posted (recorded) in the Registry of
Appropriations and Allotments (RAPAL) and Registries of Allotments, Obligations and
Disbursements (RAOD).
4. Receipt of P 1,200,000 Appropriation.
The receipt of the appropriation of P 1,200,000 is posted (recorded) in the Registry of
Appropriations and Allotments (RAPAL).
5. Entering into a purchase contract for future delivery. The contract price is P 500,000
The obligation (purchase contract for future delivery) is recorded in the Obligation Request
and Status (ORS) and Registries of Allotments, Obligations and Disbursements (RAOD).
6. Entering into employment contracts worth P 200,000
The obligation (employee contracts) is recorded in the Obligation Request and Status (ORS)
and Registries of Allotments, Obligations and Disbursements (RAOD).
7. Billing of P 250,000 revenue for Affiliation Fees, subsequent collection of P 200,000 therefrom,
and full remittance of the collection to the BTr.
Billing:
Accounts Receivable 250,000
Affiliation Fees 250,000
To recognize billing of income

Collection:
Cash – Collecting Officers 200,000
Accounts Receivable 200,000
To recognize collection of billed income

Remittance:
Cash – Treasury/Agency Deposit, Regular
200,000
Cash – Collecting Officers
200,000
To recognize remittance of income to BTr

8. Reversion of P 50,000 unused NCA.


Subsidy from National Government 50,000
Cash – Modified Disbursement System (MDS), Regular 50,000
To recognize reversion of unused NCA

9. Receipt of office equipment purchased on account for P 100,000.


Office Equipment 100,000
Accounts Payable 100,000
To recognize purchase of office equipment on account

10. Payment of accounts payable from purchase of office supplies worth P 60,000. Tax
withheld amount to P 3,000.
Accounts Payable 60,000
Due to BIR 3,000
Cash – Modified Disbursement System (MDS), Regular 57,000
To recognize payment of accounts payable

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