Journal Entry

3 Mar 2020

What’s the prevailing rate for the maximum amount of petty cash per transaction?

Q: Good pm. I just want to clarify if Cash Advance for Petty Operating Expenses referring to COA Circular 97-02 is the same with the Petty Cash Fund? Which will prevail regarding the maximum amount disbursement per Petty Cash Voucher?Per NGAS for LGU – P1,000Per COA Circular 97-02 – P10,000Pero COA Circular 2012-01 – P15,000. View Answers via our Facebook Page Post Views: 1,615

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19 Feb 2020

Cancelled MDS Check

Hi GABOTAF. Scenario: MDS check was Issued on January) but was cancelled later on February. 1.)  Do I need to make another DV for the replacement of MDS check? Or just make an adjustment in General Journal for the replacement of Check? 2.) Will the amount be credited back to our MDS account? Savings Account? Or is it considered lapsed NCA? 3.) If the MDS Check is recorded on MRD January, do I have to record the replacement check on MRD February? 4.)     FOR THE MONTH OF JANUARY: Dr. Electricity Expense XX Cr. Cash MDS         ...

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31 Jan 2020

Journal Entry | Financial Assistance to LGUs

Q: Q: If for example may nareceive na Financial Assistance from LGSF AM ang GF account. What are the entries for the ff: Receipt of FA in GF books Transfer of fund to TF Account in GF books Receipt of funds in TF books Thank you Click the comment button to read the responses to this question. Post Views: 1,362

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