1.

In relation to the previous assessment, prepare journal Entries for disbursements assuming that you are the
accountant of the Bureau of the Treasury (BTr).

DATE ACCOUNT TITLE RCA CODE DEBIT CREDIT

Oct. 1, 2018 BIR – Regular Agency Fund

Subsidy to NGAs 50214010 40,000,000
Cash in Bank Local Currency, Savings Account 10102020 40,000,000 40,000,000
Cash in Bank Local Currency, Savings Account 10102030 40,000,000
(To recognize transfer of funds to
IA-National Government Agency.)

Oct. 5, 2018 No Entry.

Oct. 7, 2018 Subsidy to NGAs 50214010 17,500

Cash in Bank Local Currency, Current Account 10102020 17,500 17,500
Cash in Bank Local Currency, Savings Account 10102030 17,500
(To recognize MDS checks negotiated.)

Oct. 10, 2018 No Entry

Oct. 15, 2018 Subsidy to NGAs 50214010 911,094.38

Cash in Bank Local Currency, Current Account 10102020 911,094.38 911,094.38
Cash in Bank Local Currency, Savings Account 10102030 911,094.38
(To recognize MDS checks negotiated.)

Oct. 15, 2018 No Entry

Oct. 18, 2018 No Entry

Oct. 20, 2018 Subsidy to NGAs 50214010 177,539.44

Cash-Tax Remittance Advice 10104070 177,539.44
(To recognize remittance of taxes withheld.)
2.  Give examples of journal Entries for disbursement transaction for foreign posts of the government.
The following are the given info. :
Passport and VISA fee collected 500,000
Cash Disbursement Ceiling (CDC) received 300,000
Expenses Paid: Allowances – Civilian Employees 100,000
Rent 50,000 150,000

The accounting entries for the collection of revenue and the constructive receipt of disbursement authority to
Foreign Service Post of DFA and DOLE.

DFA and DOLE’s Book:

DATE ACCOUNT TITLE DEBIT CREDIT

Nov. 18, 2020 Cash – Collecting Officers 500,000

Passport and VISA fees 500,000
(To recognize collection of FSPs.)

Nov. 18, 2020 CIB – Foreign Currency, Current Account 500,000

Cash 500,000
(To recognize deposit of collections to authorized
servicing bank of the FSPs)

Nov. 18, 2020 Cash – Constructive Income Remittance 300,000

Subsidy from National Government 300,000
(To recognize receipt of CDC from DBM)

Nov. 18, 2020 Quarters Allowance – Civilian 100,000

Rents – Building and Structures 50,000
CIB – Foreign Currency, Current Account 150,000
(To recognize payment of expenses charged to CDC)

BTr Book:

DATE ACCOUNT TITLE DEBIT CREDIT

Nov. 18, 2020 Subsidy to NGAs 150,000

Cash – Constructive Income Remittance 150,000
( To recognized constructive receipt of remitted
Collections by FSPs and disbursements charged
to the issued CDCs to FSPs)