INSTRUCTIONS: THE ACTIVITY IS TO BE DONE STEP BY STEP

STEP 1 MAKE A SUMMARY OF ALL THE ACCOUNTS THAT YOU USED IN YOUR JVs AND ARRANGE THEM CHRONOLOGI
ATTACH YOUR SUMMARY TO YOUR JV'S

STEP 2 CREATE YOUR CHART OF ACCOUNTS

STEP 3 POST YOUR JV's IN THE WORKING PAPER (WP1)

1)FILL-UP THE COLUMN HEADINGS FIRST OF PAGE 1 (DEBIT ENTRIES) AND PAGE 2 (CREDIT ENTRIES)
THE COLUMN HEADINGS OF WS1 AND WS2 SHOULD BE THE SAME
2)FOR EVERY ENTRY MADE , MAKE SURE THAT YOU HAVE THE JV# AND THE DESCRIPTION OF THE TRANSACTI

STEP 4 FROM THE BALANCES IN WP1, PREPARE YOUR TRIAL BALANCE (INDIVIDUAL)

STEP 5 FOR THE COLLABORATIVE WORK, COMBINE YOUR BALANCES TO COME UP WITH ONE TRIAL BALANCE
COORDINATE WITH YOUR PARTNER, GET HIS OR HER TRIAL BALANCE AND COMBINE
COME UP WITH 1 TRIAL BALANCE, BOTH OF YOU SHOULD HAVE THE SAME CTB

STEP 6 PREPARE THE ADJUSTING ENTRIES FOR AJE 1-4 (USING ACCOUNT CODES) IN THE JV PROVIDED (REFER TO PA

STEP 7 TRANSFER YOUR UNADJUSTED BALANCES TO WS1

POST THE ADJUSTMENTS TO WS1 TO ARRIVE AT YOUR ADJUSTED TRIAL BALANCE

STEP 8 TRANSFER THE ADJUSTED BALANCES TO THE CORRESPONDING FINANCIAL STATEMENT

STEP 9 PREPARE YOUR CLOSING ENTRIES (USING ACCOUNT CODES) IN THE JV'S PROVIDED-REFER TO PAGE 92

STEP 10 COPY YOUR FIGURES FROM WS1 TO WS2 (CHECK YOUR FORMULAS)
POST THE CLOSING ENTRIES IN THE THE WORKSHEET (WS2) TO ARRIVE AT YOUR POST CLOSING TRIAL BALAN
THE DEBIT AND THE CREDIT SHOULD BE EQUAL

CONGRATULATIONS! YOU FINISHED THE GOVERNMENT ACCOUNTING CYCLE.

NGE THEM CHRONOLOGICALLY (ACCORDING TO ELEMENT)

CREDIT ENTRIES)
FINISHED
PTION OF THE TRANSACTION (PARTICULARS COLUMN)

NE TRIAL BALANCE

PROVIDED (REFER TO PAGE 90 OF YOUR BOOK) FOR AJE 5 , COMPLETE THE JV

REFER TO PAGE 92

ST CLOSING TRIAL BALANCE

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Adjusting Entry:
To recognize reversion of unused NCA

4030101000 6,000.00
1010404000 6,000.00
Totals 6,000.00 6,000.00

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 0027
Date: 12/31/2019

Account Symbol Debits Credits

4030100000 6,000.00
1010400000 6,000.00
 6,000.00 6,000.00

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Adjusting Entry:
To recognize depreciation of Buildings

5050104000 50,000.00
1060401000 50,000.00
Totals 50,000.00 50,000.00

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 0028
Date: 12/31/2019

Account Symbol Debits Credits

5050100000 50,000.00
1060400000 50,000.00
 50,000.00 50,000.00

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Adjusting Entry:
To recognize depreciation of Equipment

5050105000 30,000.00
1060502100 30,000.00
Totals 30,000.00 30,000.00

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 0029
Date: 12/31/2019

Account Symbol Debits Credits

5050100000 30,000.00
1060500000 30,000.00
 30,000.00 30,000.00

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Adjusting Entry:
To recognize allowance for impairment on Accounts
Receivable

5050302000 2,000.00
1030101100 2,000.00
Totals 2,000.00 2,000.00

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 0030
Date: 12/31/2019

Account Symbol Debits Credits

5050300000 2,000.00
1030100000 2,000.00
 2,000.00 2,000.00

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Adjusting Entry:
To take-up various adjustments

1010101000 5,000.00
1030101000 45,000.00
1060401000 500,000.00
1060401100 150,000.00
1060502000 150,000.00
1060502100 60,000.00
2010101000 20,000.00
3010101000 470,000.00
Totals 700,000.00 700,000.00

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 0031
Date: 12/31/2019

Account Symbol Debits Credits

 - -

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

 UNADJUSTED TRIAL BALANCE
UACS
ACCOUNT TITLE OBJECT CODE DR
CASH COLLECTING OFFICERS
CASH TREASURY/ AGENCY DEPOSIT, REGULAR
CASH-MDS, REGULAR
ACCOUNTS RECEIVABLE
OFFICE SUPPLIES INVENTORY
BUILDINGS
ACCUMULATED DDEPRECIATION-BUILDINGS
OFFICE EQUIPMENT
ACCUMULATED DDEPRECIATION-EQUIPMENT
ACCOUNTS PAYABLE
ACCUMULATED SURPLUS (DEFICIT)
IMMIGRATION TAX
PERMIT FEES
REGISTRTAION FEES
OTHER SERVICE INCOME
POWER SUPPLY SYSTEM FEES
LANDING AND PARKING FEES
SUBSIDY FROM NATIONAL GOVERNMENT
SALARIES AND WAGES REGULAR

TOTALS -

ADJUSTMENTS: (ADDITIONAL ACCOUNTS)

 TOTALS

NET INCOME OR NET LOSS

TOTALS
 GOVERNMENT ACCOUNTING
WORKING PAPER
FOR THE YEAR 2019

ADJUSTED TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE

JV JV
CR NO. DR NO CR DR

-
- - -
DJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET

CR DR CR DR CR
- - - - -

- - - -
Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Closing entry:
To recognize closing of cash deposit account

3010101000
Totals - -

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 031
Date: 12/31/2019

Account Symbol Debits Credits

0
 - -

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Closing entry:
To recognize closing of subsidy account
Totals - -

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 032
Date: 12/31/2019

Account Symbol Debits Credits

 - -

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Closing entry:
To recognize closing of income and expense accounts
Totals - -

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 033
Date: 12/31/2019

Account Symbol Debits Credits

 - -

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

Accounting Form No. 71
Revised: January 1992
JOURNAL VOUCHER

RCA

Explanation
Closing entry:
To recognize closing of revenue and expense summary
Totals - -

Entered in the General Journal

By: Date:

Approved:

Note: Approval mandatory for cash transactions and retention / reversion of continuing
RNAL VOUCHER
JV No. 034
Date: 12/31/2019

Account Symbol Debits Credits

 - -

I HEREBY CERTIFY to the correctness of the above

entries and to the availability of appropriations for the
expenditures included therein.

Manager, Department

on / reversion of continuing appropriations.

 UNADJUSTED TRIAL BALANCE
UACS JV
ACCOUNT TITLE OBJECT CODE DR CR NO.

TOTALS - -

ADJUSTMENTS: (ADDITIONAL ACCOUNTS)

 TOTALS

NET INCOME OR NET LOSS

REVENUE AND EXPENSE SUMMARY ACCOUNT

TOTALS
 JEWL ARELLANO
WORKING PAPER
FOR THE YEAR 2019

ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT

JV
DR NO CR DR CR DR
- - - - -

-
E STATEMENT BALANCE SHEET CLOSING ENTRIES
JV JV
CR DR CR NO DR NO CR
- - -

- - - - -
POST CLOSING TRIAL BALANCE

DR CR
- -