REQUIRED:

1.Table for the computation of over and underestimation.

The Municipality of Loboc has the following data for the calendar year 20x1: Annual Budget Appropriations Estimates of Income Tax Revenue: Basic Real Property Tax Business Tax Share from National Taxes: Share from Internal Revenue Collection Total: P10,000 Personal Services 5,000 Maintenance and Other Operating Expenses Capital Outlay 30.000 20% Development Fund P45,000 Total: P6,000 10,000 18,000 6,000 P45,000 It releases the following allotments: Personal Services Maintenance and Other Operating Expenses Capital Outlay 20% Development Fund Total P4,000 7,000 13,000 6,000 P30,000 Its realized estimates of income for the year are: Tax Revenue Basic Real Property Tax Business Tax Share from National Taxes Share from Internal Revenue Collection P6,000 3,000 30,000 *P39,000 It has the following current obligations based on Certifications on Appropriations, Funds, and Obligation of Allotment (CAFAO). Personal Services Maintenance and Other Operating Expenses Capital Outlay 20% Development Fund Total P3,000 4,000 10,000 6,000 P23,000 It recorded the following consummated obligations: Personal Services Maintenance and Other Operating Expenses Capital Outlay 20% Development Fund Total P2,500 4,000 8,500 6,000 P21,000