Professional Documents
Culture Documents
Home Office
Area X
Area Y
Cash
Accounts Receivable (net)
Due From Central Office
PPE (net)
Total
100,000.00
80,000.00
300,000.00
480,000.00
50,000.00
60,000.00
45,000.00
100,000.00
255,000.00
30,000.00
10,000.00
(15,000.00)
60,000.00
85,000.00
Account Payable
Due To Regional Office
Governmnet Equity
Retained Earnings
Total
80,000.00
30,000.00
200,000.00
170,000.00
480,000.00
40,000.00
115,000.00
100,000.00
255,000.00
25,000.00
80,000.00
(20,000.00)
85,000.00
AX(2)
AY(3)
45,000.00
30,000.00
Retained Earnings
Due To Regional Office-X
15,000.00
Retained Earnings
Due From Central Office
45,000.00
15,000.00
15,000.00
45,000.00
15,000.00
100,000.00
80,000.00
300,000.00
480,000.00
50,000.00
60,000.00
100,000.00
210,000.00
30,000.00
10,000.00
60,000.00
100,000.00
Account Payable
Governmnet Equity
Retained Earnings
Total
80,000.00
200,000.00
200,000.00
480,000.00
40,000.00
115,000.00
55,000.00
210,000.00
25,000.00
80,000.00
(5,000.00)
100,000.00
170,000.00
75,000.00
5,000.00
115,000.00
55,000.00
Government Equity
AX(5)
AY(6)
80,000.00
Retained Earnings
Government Equity
55,000.00
55,000.00
Government Equity
Retained Earnings
5,000.00
5,000.00
100,000.00
80,000.00
170,000.00
300,000.00
650,000.00
50,000.00
60,000.00
100,000.00
210,000.00
30,000.00
10,000.00
60,000.00
100,000.00
Account Payable
Governmnet Equity
Retained Earnings
Total
80,000.00
315,000.00
255,000.00
650,000.00
40,000.00
170,000.00
210,000.00
25,000.00
75,000.00
100,000.00
Home Office
Due From Regional Office
245,000.00
Area X
Area Y
Government Equity
170,000.00 +
75,000.00
ILLUSTRATION:
C. The Home Office transfer P50,000 and P30,000 cash and supplies amounting to P25,000 and P15,000 to Area
X and Area Y, respectively.The home office records the transfer with the following entry:
H (7)
H (8)
75,000.00
45,000.00
50,000.00
25,000.00
30,000.00
15,000.00
D. Area records the following transfer of assets from the head office with the following entry:
AX (9)
AY (10)
Cash
Prepaid Expense/Supplies Expense
Government Equity
50,000.00
25,000.00
Cash
Prepaid Expense/Supplies Expense
Government Equity
30,000.00
15,000.00
75,000.00
45,000.00
Area Y; P5,000
H(11)
AX(12)
AY(13)
Accounts Receivable
Income
15,000.00
Accounts Receivable
Income
10,000.00
Accounts Receivable
Income
5,000.00
10,000.00
10,000.00
5,000.00
AX(15)
AY(16)
Expense
Cash
10,000.00
Expense
Cash
7,000.00
Expense
Cash
6,000.00
10,000.00
7,000.00
6,000.00
AX(18)
AX(19)
AY(20)
AY(21)
Cash
Accounts Receivable
Due From Central Office-AX
Due From Central Office-AY
4,500.00
Cash-Collecting Officer
Accounts Receivable
2,000.00
2,000.00
Cash-Collecting Officer
Accounts Receivable
1,000.00
1,000.00
3,000.00
1,000.00
500.00
2,000.00
2,000.00
1,000.00
1,000.00
AY(23)
Government Equity
Accounts Receivable
1,000.00
Government Equity
Accounts Receivable
500.00
1,000.00
500.00
AY(25)
HO(26)
Government Equity
Cash In Bank, Savings Account
1,500.00
Government Equity
Cash In Bank, Savings Account
700.00
Cash In Bank
Due From Regional Office-AX
Due From Regional Office-AY
1,500.00
700.00
2,200.00
1,500.00
700.00
SPECIAL CASES
G. On December 30, fund transfer to Area X amounting to P700 was erroneously deposited to Area Y. This
amount was trasferred by Area Y to Area X on January 5 of the next year. P100 was also collected by Area Y
for Area X's account.
HO (27)
AX(28)
AY(29)
AX(30)
AY(31)
AY(32)
700.00
700.00
Cash In Bank
Due From Regional Office-AX
Due From Regional Office-AY
Accounts Receivable
700.00
700.00
700.00
700.00
100.00
100.00
Cash-Collecting Officer
Due From Regional Office-AX
100.00
100.00
100.00
100.00
This entries will be included with the eliminaton entries on worksheet if not yet remitted as of the balance sheet date.
AX(34)
100.00
Government Equity
100.00
100.00
Cash In Bank
Due From Regional Office-AX
100.00
100.00
100.00
120,000.00
118,800.00
1,200.00
Beg
9
22
24
28
34
28
30
34
Area Center X
Government Equity
170,000.00
75,000.00
1,000.00
1,500.00
700.00
100.00
2,600.00
245,700.00
243,100.00
Due From Regional Office-AY
700.00
100.00
100.00
800.00
100.00
700.00
Beg
10
23
25
Area Center Y
Government Equity
75,000.00
45,000.00
500.00
700.00
1,200.00
29
31
33
120,000.00
118,800.00
HO
DEBITS
Cash
Accounts Receivable (net)
Due From Regional Office
PPE (net)
Total
CREDITS
Account Payable
Due To Regional Office
Governmnet Equity
Retained Earnings
Total
TRIAL BALANCE
AX
AY