4 5 6 7 8 Account Titles Cash in Vault Cash in Bank Accounts Receivable Due from Officers and Employees Accounts Payable Due to Oficers and Employees Due to BIR Due to GSIS Gavemment Equity - ARTA LGU Amounts 2,000,000.00 8,500,000.00 550,000.00 4,500.00 1,500,000 00 150,000.00 200,000 00 300,000.00 ???? 9 10 11 12 13 14 15 The following transactions happened on January 2020: 16 17 18 19 20 21 22 23 24 1. ARTA LGU has received the Internal Revenue Allotment on January 2 and was deposited directly to the bank amounting to 5,000,000.00 2. Collected from an account clients the amount of 300,000.00 on January 3. 3. Paid and remitted to BIR the amount of 150,000.00 on January 4 through a check 4. Employee of the LGU has been paid for the accounts due to them amounting to 110,000.00 on January 5 through a check 5. Collected Income from Slaughterhouse the amount of 150,000.00 on January 6. 6. Collected RPT Income of 200000.00 on January 7 7. Deposited to the bank cash amounting to 2,000,000.00 on January 8. 8. Paid Salaries to employees through a check on January 15, amounting to 1.150,000.00 9. Paid the following expenses through a check the following expenses on January 16 Electricity 20,000.00 Telephone 5,000.00 Internet 2,500.00 10. Paid and remitted to GSIS through a check amounting to 280,000.00 on January 20 11. Collected cash from employees due from the amounting to 3,550.00 on January 22. 12. Paid to supplier on account for items purchased amounting to 1,110,000.00 through a check on January 30 25 26 27 2B 20 30 31 32 33 The LGU maintains the chart of accounts as follows: 34 35 30 3B Cash in Vault Cash in Bank Accounts Receivable Dus from Officers and Employees Accounts Payable Due to Officers and Employees Due to BIR Due to GSIS Government Equity - ARTA LOU Internal Revenue Allotment (RA) Income from Slaughterhouse RPT in Salaries and Wages Expense Electricity Expense Telephone Experise Internet Expense 39 40 41 43 44 45 40 47 Notes 1. If the transaction says it paid through a check, Cash in benk is used otherwise Cash in Vault is used. 2. Use the provided sheets as answer sheets 3. Due to is a liability account while due from is an asset account 4. Goodluck class 48 49 50 51 52 53 Requirements 1. Compute for the Capital or Government Equity (10 POINTS) 2. Joumalize all the transactions (3 points each) 3. Post it to the General Ledger. 1 point for each correct posting) 4. Prepare the trial balance (2 points for each correct account 34 55 4 5 6 7 8 Account Titles Cash in Vault Cash in Bank Accounts Receivable Due from Officers and Employees Accounts Payable Due to Oficers and Employees Due to BIR Due to GSIS Gavemment Equity - ARTA LGU Amounts 2,000,000.00 8,500,000.00 550,000.00 4,500.00 1,500,000 00 150,000.00 200,000 00 300,000.00 ???? 9 10 11 12 13 14 15 The following transactions happened on January 2020: 16 17 18 19 20 21 22 23 24 1. ARTA LGU has received the Internal Revenue Allotment on January 2 and was deposited directly to the bank amounting to 5,000,000.00 2. Collected from an account clients the amount of 300,000.00 on January 3. 3. Paid and remitted to BIR the amount of 150,000.00 on January 4 through a check 4. Employee of the LGU has been paid for the accounts due to them amounting to 110,000.00 on January 5 through a check 5. Collected Income from Slaughterhouse the amount of 150,000.00 on January 6. 6. Collected RPT Income of 200000.00 on January 7 7. Deposited to the bank cash amounting to 2,000,000.00 on January 8. 8. Paid Salaries to employees through a check on January 15, amounting to 1.150,000.00 9. Paid the following expenses through a check the following expenses on January 16 Electricity 20,000.00 Telephone 5,000.00 Internet 2,500.00 10. Paid and remitted to GSIS through a check amounting to 280,000.00 on January 20 11. Collected cash from employees due from the amounting to 3,550.00 on January 22. 12. Paid to supplier on account for items purchased amounting to 1,110,000.00 through a check on January 30 25 26 27 2B 20 30 31 32 33 The LGU maintains the chart of accounts as follows: 34 35 30 3B Cash in Vault Cash in Bank Accounts Receivable Dus from Officers and Employees Accounts Payable Due to Officers and Employees Due to BIR Due to GSIS Government Equity - ARTA LOU Internal Revenue Allotment (RA) Income from Slaughterhouse RPT in Salaries and Wages Expense Electricity Expense Telephone Experise Internet Expense 39 40 41 43 44 45 40 47 Notes 1. If the transaction says it paid through a check, Cash in benk is used otherwise Cash in Vault is used. 2. Use the provided sheets as answer sheets 3. Due to is a liability account while due from is an asset account 4. Goodluck class 48 49 50 51 52 53 Requirements 1. Compute for the Capital or Government Equity (10 POINTS) 2. Joumalize all the transactions (3 points each) 3. Post it to the General Ledger. 1 point for each correct posting) 4. Prepare the trial balance (2 points for each correct account 34 55