COLLEGE OF ACCOUNTANCY STATEMENT OF ACTIVITIES FOR THE MONTH ENDED JANUARY 2011

REVENUES AND GAINS OTHER INCOME Miscellaneous Income *5 TOTAL REVENUE EXPENSES Computer Rentals and Printing Depreciation Expense OTHER EXPENSE Miscellaneous Expense*6 TOTAL EXPENSE TOTAL DECREASE IN NET ASSETS

_2055_ P 2055

25 2114

750 P P 2889 -834

*See Notes to Financial Statements

COLLEGE OF ACCOUNTANCY STATEMENT OF CASH FLOWS FOR THE MONTH ENDED MAY 2011

Cash Flows from Operating Activities Decrease in Net Assets Depreciation Net Cash Inflow/Outflow from Operation Cash Flows from Investing Activities Cash Flows from Financing Activities Net Cash Inflow Add: Cash Balance, Beginning Cash on Hand, May 2011

-834 2114 P 1280 __ -__ 1280 1340 2620

P P P

COLLEGE OF ACCOUNTANCY STATEMENT OF FINANCIAL POSITION AS OF MAY 2011

ASSETS Cash on Hand Cash in Coop *1 LCD Projector Digital Camera *2 Speaker Printer Total Assets P 2620 13378.89 37000 12686 6300 1690 73674.89

LIABILITIES AND NET ASSETS Liabilities Unrestricted Net Assets *3 Restricted Net Assets *4 Total Liabilities and Net Assets 2620 71054.89 73674.89

*See Notes to Financial Statements

Prepared by

Noted by:

Mary Grace B. Evangelista Student Council Accountant

Clarence Gamboa, CPA COA Council Adviser

Queen JosaM. Bautista Student Council Accountant Attested by:

Dexter N. Ramos Auditor

NOTES TO FINANCIAL STATEMENTS

NOTE 1 - Cash in Coop The present council added P 2233 on the beginning balance of cash in coop because it was understated by the previous council. NOTE 2 - Digital Camera The digital camera which was acquired by the student council 2010-2011 was not depreciated. Through the investigation of the present council, the digital camera should be depreciated because of time passage. The estimated useful life of the digital camera was 7 years without salvage value. A year had passed so the depreciation should be computed by dividing 7 years to PhP 14800.The total accumulated depreciation is 2114.The carrying value of the digital camera is PhP 12686(rounded). NOTE 3 - Unrestricted Net assets The present council decided to restrict the cash in coop by the previous council because we are not authorized to use their fund so only the cash on hand was left unrestricted amounting to P 2620. NOTE 4 - Restricted Net Assets Cash in Coop LCD Projector Digital Camera Speaker Printer Total Unrestricted Net Assets

13378.89 37000 12686 6300 1690 71054.89

NOTE 5 - Miscellaneous Income Collected Coa fees from the revious council P Lanyard of the previous council sold to a freshman Total P

1905 150 2055

These transactions are reflected in the miscellaneous income because these were revenues of the previous council. NOTE 6 - Miscellaneous Expense Plywood donated to Sec Contribution to Ma'am Bernardo's party Total

P P

650 100 750

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