$

A L MORADIE

).,1

,1:.r
CCO 3123-q3 setb

il'rr. - II{EORY- IDENTIFICATION.

i;i,i'LLUrtv'\7"'The1e-ay

..

expenditures which could not pass the test of prudencrl or the required
diligencc
of a
----e'
of a family, theteby not rpsponsive to the exigincies of the service.

g*d fl$ut

r,r -2.*/ Expenditures

inouned wittrout knowledge or sense of what

;,,^r,.rr.^,r.,.ri.
I'rr'4'r\\'urr('"'!(L

is riglrt, reasonable and just and not

_ _.ryided or restiained by conscience. Unc,a,r"rrcr+n,..r17]i,

t'r.-{r*":.,.1a4 3'/
These-are the o<penditures incurred without aOtreiing to estabtished
rules, regulations, procedural

-,

guidelines, policies, princrples or p,ractices that have-gained rccognition

\,t
in law. 1,,, or,i) ,
4l / It refers to a d'-rcument showing tneaisaggr"gution ofag,ency
ort"ait *r ir" ;.b.nents like,
i ,,',"1. *: ,][|19 others, by source of appropriafions, by allotmenlcl"ir *a by need of cleararrce.
C.r ,,i
'l
"
.. " 5. 'r Additional appropriation :uthorized by law io augment the originai appropriations which proved
i'lll',
to be inadequate or insufticient for the particrrlar purpose inteiucd d;; t" ;";;ic, potiticat
or

lr t

"

,,

,i

()'"

social conditions"

A'n

5.' TI: l|w letting the operating

budget of the Republic of the Philippines for a particular fiscal year.

includes
the
evaluatiin oifirrancial r*ports and perforiiumce of the different agencies
.'t f^rfi
-" ''I
togettrdr with and audit conducted b1, COA.
inuAget p.*"rg
to the commitnent by a government agency arising'from &n act of a duly authorized
r0 {"1rtJ.; , .-1'ltgfem
a*
official'which binds the governmnt to the imriediate or eylntual paSment of a sum of money.
tr'r'i"

'",

'7,

/T\is

Problem

'.

lhgfillowing

selected transactions of a national government ugency include rhefottowing:

-

bill for PLDT, P60,000,

tax. 3

a.

Paid the

b.

PaidthebillforMERALCO,pl20r000,lesstax., ?,!r,
rr.zr y?o
Paii the bill for office supplies on accoung p40,000.
r 2, lj?.ii6 I ,', 6f1

c.'

,d.

.A

r-1!11

p50,000. 1
frow much is the total anmant of tuos
Paid the

+,/."

less

bill for office equipmen!

h
d.
e.
3.

to:!-l n 4
Z

,a

How mueh is the total,amount eedited to accoad code

rualilfffuffi-,

.41
Di Regulor

alloarcntfor

Problem

CO?

2-.8

JS7,

tf:"-.i31._.1i
- .*
o,q 3,q28Sl
M'l

,,"'.

11

3qa y .g ?

=::_---::=
Signed n contract for the.constnr*ion of buitding P50,000,009_ . .
Faid advances to conbactor P5,000.0$0.
Recoivsd 1( progress billiry;s-S0%
Paid the bill, net of advancee and ta:r.
IIow mvch b thc nd frruunt pald to the conlrado?? lS V3 ?(?'i
tha allofrrunt ncotwdfor ctpltol oatlry h PISDM; how much ls the unobllgeted balance

t, If

, t4

t ,v7 $.gi
ry!l!leldfor'1601-E?
r?5h -M

a.

Sr, r )s0

of

ttofou, out

governmo,nt agency ordered an oflice equipment forY200,000 through procurement sbrvics of

DBM on June 15, 2013. The equipment was delivered to thq governmeot agdtcy on August 15, 2013. The
asset has a useful life of 5 years.
zott
much ts the anmunt crcdud an occount code I0E/141-M$10

ooo

o{,flow

t4o ooavcta-T: 7

'

la'o
{ '
4tr'frowmrchlsthebookvohtcoftheequfpnm*onDecember3lr.2011? 3ka)u
a/r/z
-1
2dl osi 'rlt A{,1 1
=- c"tw
/f,Jdy'J
Probleml
-d#ffi
4.(' r:'r: u
. On Novembor 16, 2013, an outsido sup,plier (winning biddc) dolivorod offico equipment with an
invoicc prtcc of P120,000 to e nxlonal govffnmmt igpmey. Thc crttrrtrd llfc ofthc auet ir 5 yaas.
:113,5?1.4)
l'-oj
frow much b thc trd moantpoW to thc srypthr? ltt filh.+,
z{
9'? - G1 riz'.fi
",,*/now
rurch ts the book vAheil*e e.qutpnAr on Dehba 31, 2011?
'1,

PrcblemS

wqsesresu*^
;Plffii

The following account balargps were taken from the

govem4Leg!

,c(,

gffncyi Salatieg and

Su
PS wqeel-Beguar,.H#q0gq PERA:}8E
rrr4Juu; water
suppli6tcpf;pggles, pa.Dffi(G
warer E{IrcqFes,
Effies,
PER,gileqqooo;; 9.ryq9
9.flq4 riupprcs-D)Q!,qrc8,

ffi

Uo^o,t

H'*;ffimIffidHfffii;

,o
r7ffiflTelep[oHffipenses,P2ffi; ftravclling Expenses, P|6&6; t^Wb
PAsWo; Utecfi&r!ffipqp9s,
Pasffi;
Bte.tl8i
P, R/ff$ ffiO; Dedli&itt('Expegpes, P15ff[0; Subsidy fi6m Sgtional,Ggvernment {r,750,000; - r
I Misccllaneops Income, (Z,SOqlntcnefi Experfo, Pl'{d0; nT! Chdrfus, P2rX59, n"trcf:ft-an-il Lifets
lnstuanao lyomiums' 80F,000; Philhealth
totalPe
is the totalPersoJid
How nuch
much ls

,5
tv
IA

9:
+ 68?,roo"D{
tL.b

Ttr
?2s

){.

Fg0#0r rag-ibig

How much ls the erceca of lncome over crpencet?

o,o,

M'0E4,r.,

***+*enC+*+**
NE 4s.o
ftoEE:?5Trq[||7s-v(nolinclud-cd.:ungl''+.
rE
22.5
a

-f ,,?6s,coo

Contributipp*s4ofg0. ntL%
rLs?
r('
l4:s'
Ol

Ye
Servtces? g+L{ t4N
Eornucf fitmtotrffrfrfntonrnocrndOthor.{toredngoryrnrorl 63e

tu, Y:*
G82,5co

F.',.,.:;r-q

====5,

n
I

4l st

5cu( {?so

i'; ltt)

'9
:=11'=':='-=

?'

ex?'

s'o )
)

ACCO 3123-Q4
Problem

The seleaedtonsaetions of a munlclpurily include the

fallowlnst
Rooorded thu oiul Properry ur< receiv*.ble, P100,000,00drsd epoiirrlt eriucrrien fuad,
P100,000,000.@oth looal ta:res are based on 196 of the assessed value of rcal properties
owned by
the taxpayers).
Roceivod the Notioe of frpdqS Chsok Isruod ftom tho DBM for the rhare of ths mrurioipelrty
from Internsl Rcvenue collections, p250,000,000.
Received the bank crodit merno for its sharo of intemal rvenuo collections, p100,000,000.
Received p&ymcr* &om roatr proporty taxpeyGrs:
Real Property Tax Recoivable-p40,000,000
Special Education Tax
:

&.
b.
c.
d.

Receivable,p40,000,000

Garbage FeesP500,000
e.

Deposited the collections from real pr,rpertl,taxpayers.

?lrtri.prt{ the real proprry tan coliections based on 40-35-2r sharing.
pistributad the special educatbn tax colleotionr based on e i&,so uh*"g.
Remittsd the s[are of other local government units for real and spooial eloention t :r.
Signed a contract for the oonstnrtion of building, Contract-Pricc-p1gg 1dillion.

f.
g.
h.

i.

j.

Adrrannu to oontrsrol'1pro htdo, f li|6 of thiioonfmt p{oo,

lqcgiyed the proqress billings from the contacror, 30% coiarletion.
Paid the aurount due to the sontraotor. Doduotions ale as fodbws:
Recoupmeut ofthe advances,20% ofthe billings
Retention, 107o of the billfurgs
'Wittrholrli ng
tax, zyo, Syo

k.
t.

Required: Based on the above infonnotion,farrnrwfie trawoctions.

Prublem Z
On July 1, 2014, a national government agqr$y rovised the estimttsd usoful lifo of its oquipmeirt from 10
y-!q.r to t ycm, Tho cqulpmont wrr ot$nrlly pwehrncd rnd do[vond on Bcptmhor I l' 2Ol3 oo*ing
P500,000.
Dstermine the book value ofthe equipment op December 31,!!W. {$E, ?gS
Deternline the dtpreciation expensflr fi2014.

l.
2.

Problem3
A government

agenoy orderrcd an office equilpment for P300,000 thrcugh procruemeirt services of DBM
on June ls,zll4.The equipme,nt was deliverrcd to the government agency on July 15, 2014. The asset has
a useful.life of 5 years.

mgch is the amount credited to account code 1-01-M-040?

*4/H;;ffih
Xgow
is the book value of the equipme,nt on f)ecember

,/

lll,

3oo

'

2076?

ooo

Z?ssID

_*

3oel bou
g'4.ooo )
(zz ,soo )
Z23,SDD

TIIEORY

1.

2.

Tha type ofbutlgettng mendoned inthe 2015 Budget Call, replacing BottomUp
Budgeting.
A budgeting approach that uses perfonnance information to inform Congress and the
public aboutthe outputs aud outcomes an agency is committing to deliver in exchange for
its budget.

rA. DELH
t/"

M.

Lrz

;l :",j

t'

, ry{u.rDENTrFrcATroN.
The.phase ln the budget pnoces$ whlch lncludes the tssuance of spectatA,t,totment
ltlrfi*t;l f
Release order and
Br,dqrI ev,,th*/il;[;;+;[,
..
A)^,.^
IotlceofCashAllocatlontothedlfferentgo\rernmentagencles.
t.(1^ 9P* * The.government agency responslble wlth the lmptementauon of thelpprooo ouog;
(A: ()
aunhgffiloQllsrucd bryth-cDBMtothr lucnsy,Xt,rktr rll$6htolnqrrobltfr6ona6-r _AA!I
snc-"m"0

a
^rLA lt

:ill[:,ii

h"m"#*-+l,rcy

O z
d
^A.,
MW

Db

contarnrn'the
rre -r! vr-t"
arrthorrzatron,
condltlonsand ernountof aaagancyalhiatlon,
hO
Lulb9[I3iiane madslxlaltor other lesl$htlve-eoectne$ for paymcntr to bc mde wtth tunds of the

governmentunderspecifledcondlfionsand/orforspecH}purposes.

[r47ttl..Jafi,i,

The government' ageney mandated to prCImote the sound, efftcient

end efldcthle
government resources as instrument ln the achievement
of national socio-economic

dpfrcpr.,i

*ne*i

Lm

n,i

Lt

and political

to wrturaw
sovemment
from the Nauonar
$o o -.fiH:ffi,il1,::,:rJtfl1".;3fr*
-'-"- rreasury
tlre lssuance of
or
other
authorlzed
nrode
of dlsbun"r"nE_Nlff_
n , ., -/
lhroush
agencres

,,

t40s
^ chlcts

2 26s

cash

MDS checks

/E'

r.ir,oe

sARo

(9

9*k issued by the gorrcmment agencles chargeable against the account orlreireailLr
({\@
ifl:'3,,$::..i1l.ilh

of the

rnern-gElg-!,rlttu"o-rrtrtinffiiffiEa,{6ithebudsetnrenarauorr.

"B_u4$et qgtt

Quiz2

&

Received allotment for the following:

co

lo,ooo,ooo

PS
MOOE
FE

5,000,000

on*13

sOO,OCIo

Roceiyed I,lO{ for the following:

co

FE

ni

(egulrlr' Q,6oo,ooo

$t+.G
S,\g

sp00p00

1,6oo,oo0

pet"l1 Cosh Ftrt*

.?0 oo t>
__LQ),000 0 r r,r,
pettycashtund;p3o,ooo
p1e5
L{shReguior 30,ooo
,

Establlshed
Reolenlshed the

k'

- MD(

e000,000

MOOE

a:

COsh

P4500,000

PS

oew

cash

?s E*r,
fund: offlce liupplles-P10,000; postsge-3,o0ii; Representation-p1000..1,*:

ro,oou

,*

-' -*"*6i[:trPt

&

pundrase*gffipeCqulnmantftom.a.dsalerwith-chargelnvolce-PJO,0OO*y-hT,-*LYJ/SD,ooo
Paid the liabilfi for the delfuered equlprnert in no. 5, net of applicable tax.
s1}'6)
'[P
Recordede,,penresandllabillrry forthefulbwing:
- i,l0( F'cq

"-S:

.v:

fS

no

2O,OOO,0OO

CIJn

salarles.regular Pl,su),ooo
salarles-casual 300,000

llZtoo.b

ue to

BIN

r..9

41'

3zl '4j

2' b?B '57

150,000
qlug,orr>
*f ; tlz,0ot PERA
flr oarr sr\ - Rr{.
(v{
'
oeductlons:
\ o'
llz'oo0
krjual 31tu 't'roc>
^n
Ist rooo
(^h'r'rls
300,0m
lilithholdingtax
'
Pf A
fu0. tob
rooo
"i*,
glR
4!io'00o
r0
Due
**r
Oul io BiiJ
Life&ret.Premlums 100,000
'r-'olr
2o,o0o
Pag-{bigpremlums
.
i;--;
-)M1.'.to OGE Frooo
)
'tr pllg
lo roDa
1'*o.
Philhealtltr premiums 10,000
6
..oxh.qros (m . ,L-o r@
( tro oa)
rr
go..
the
employeesdeductlonsotceptwithholdingtar
Remltted
i-,*^r.l-r.
/:
,
6 (sl 5 loo'cpo
''
lQ

Mtl$J;SetlqotD
*fr;ffi:r*Ilr*rrnr}'1l:lm}-f'ts'#;j?:ffi '1,;] "u *"
n1'
4

'

la*lt J.eg* %(rrred

a{..8r.?,lrtru?-1.

,--

e$'dW
ldlffi
, ad
2.O.

MDS check for parrrdl advancas related

Granted cash aqnccfortmvel,

pso,ooo.

Paid MERAIOObllhp150,000, lmstax.

cotL-uPJ *i.Z0,lzr PaU PLDT blll (landllne)-P3Q0(Xf, less tax.
0'rr ^roBl(
paymentof

)Teletone

r.robillzatlonfeetocontractorof

tnsh-r0oY

'

ni,
V

3096

tax.) o,)\):'"1'*^

Receiptoffin"rullringroi"tiIluitiifg;.r%;;i;,i#Jrzentries)
.
26. Flnal payrnent of bulldin& net of tax'
?17. Paid rent iln advance, P120,000, lesstax' lb' I
[
$ooo ooo
I ) 0\{' - Aqencq txstr
t50u ooo
ftp,l "
3Sn0 00D
[ilv' tr LotlraLtttt
z4-zs.

r}
,/-/'

'
o'
I tx,n+

flml-b{'
lLo 1e6 o

cos\'mros(eq-' loqrl?c'?{
lo,?1.{ '2q
fue fu '0 tR'

Lo 1ory

stige of completlon. contract prlce is P5,000,000.

'tRA. (Separatp,qntries for each lrype of

tares thru.1he

;j:rr

buildirngS. P500,000.

necelved the progress bllllngs from.the contEctor,

Paid the bill ln no. 19, net of advances and tax'

zt-23. Remttted the wlthholding

tEo0pot

.rsh- LCcA r3+p ,o o

- I"t'
- T'f

wIAx
iu,iO

W h**

*
7'b

\g,0o0

ACCO 3123-Q2 A]\rD Q3

Q2-

PROBLEMS

T{I\' DELIA, M, LTL

n

MAYON Association , a non-profit organilation, had the following tuansaction$: As a rEsult of its firnd
raising proglam, cash contributions of P32$300 were received.. Fg1S,0OO was uo,rtetricte4 and pto,ooo
w-a1 restricted for project operating costs. lrr addition, unconditioffipi6ffie to give totalled P100,000, of
which P80,000 was uresticted and P20,000 restricted for acquisition of equipment.
1. what arnount should be credited to (-ronhibutions- unrestricted?
2. What amount should be credited to Contibutions-Temporarily Restictrd?

oNDoY Arsoctatlon rorolvcd lr00,rg-oo &om an i&rividual

r,,G to e cpecial proJoct . rf
that spryial-_plojectis not accoffiEffiI-within six morrrG,"fr6@hr
tilEffiifi-*Ifr*rt.a that the money be
retumed. OXOOy has not yet undertaken the projr:ct. Two months :remain in tn" time pcriod specifiea
bythe

3.

donor.

..

What amount should he reported as,r:ontibutions rcvenue

ryOAH is a non'profit organizatibn that provides services to senior citizens. 1te organization employs a
full-time staffof 10 people at an annrial cost of P150,000. In additiox, trno vofurnteers work as part-time
secretaries replacing last year's full-tine semetary who eamed P10,000. Serrices performed by three
vgluntqers for special events had an estimated value of P15,000. Thene three yolunte"rs *rr" employees
of local'E$nesses, andthey received small.,value itr:ms forthsir partir:ipation4. What smount ihoutd tho orgaalzatlon repofi for 4lllgl4:fdggmsg:gr rclarcd, to the above
items?

A non-profit miversityhad the following hansactions:

a Student tuition and other fees of P700,000 urere

b.
cd-

e.

ass.essed,

of ,ivhich P500,000

and P10,000 is estimated to be uncollectible.

has been collected

Revenue billed for dormitories (an rmxiliary' enterprise) is P2tr0,000, c,f which p50,000 is not yet
received.
Expenses
ptd _11{ rysigned to the followiug: lnstructi,on-P300,000; Research-p200,000;
Student sr:rvices-P I 00,000.
Expenses related to Au"xiliary enterprises of p100,000 were paidA goverr;ment grant of P150,000 was received to be used exclusively for defraying costs of
holding confere,nces on the topic of research.

5. How nauch is the nel4ggag[income over expenses) under e4gca{@ and"S

6. How much is the frcess of income over expenses under'lauxlliary ent?ryrises"

revenue?

A non-profithospital had the following transactions;

a. Patients urere billed for the following gross charges: Room antl board-P680,000; Physician's care-

b.

P220,000; Laboratory and radiology-P 1 I 0,000.

Cash Revenues were reported from: Newsstan$ and snack bar-P15,000; Parkhg

lot

charges-

Coltected P400,000 receivables from patients.

A charity allowance of P50,000 was granted to indigent patients.
e. Contactual adjustnnents granted to patients for Medicare charg;es totaled P60,000.

c.
d.

7. How much is the

8.

nelluorlnt

presented under Fatient Servf ce

Howmuchistheo@

\gyenr:t?

A non-profit college showed the following irmounts to beused for:

Renewal and replacement of college plant
Retirement of indebtedness orr college plant
Purchase of plant assets for college

assets
assets
purposes

9.

P500,000
300,000
400,000

What totat amount shoutd be included in the coltege's plant fi4rds?

A fouodation received a permauent encpwpent of 8199,00Qjn 2014, from Mr. Garoia. The endowment
assets were investod in publicly ftaded s,iEffities, and the foundation is permiued to choose suitable

Santa Clara Hosnital a non-pmfit

hospitnl affiliated with a religious
goup, reported the {bllowing
information for thl
''o'

*al;$;l$:L?:frffi;#ri,-*
,,

tu, rates
Bad debts expense
Conhactual adjustnent
Allowance fo. ai*o*t to hospital
emptroyees

l1' oa

hospttnl;ffiffiffiffifl

1,960,000

20,000

l7g,lg0
30,000

vcar cncrcd Doconnbor 31, 2014, what

amount should

The following srfts ary

in 2013 by a rurt-for-profit org;anization:
1' P200'000 specifred -received
ty tn" u-** iri"".,ir"o rr pay salaries.
?. PI00,000 for newconferencs room firnitrre.
3.
P50.,000 to be hetd
y";-ffi**Ling
"xpenaeo.
The salaries are paid in 2014
and the confbrence room
funiture is purchased in 2013.

fri;r,

t2.

$:::::l:Ioul{ be shoum as an increase in

*yjyn$ourdborylutffi'#
:i-:?--+:
column
to the Unrestn"r*ffiilffi

13,

JOURNAL ENTRIES and STATEIvTENT OF ACTTVTIIES

Q3

A.

rarily Rcrtrictsd

i.

vHwo

Received the following pledges: Unrestricted-P300,000; ResEicted for the purchase

assets-P500,000.

of

plant

2. i0% of the receivables are estimated to be uncollectible.

3.
4-

5.

B.

l.
2-

3'
4.
5'
C.

1'
2.

i.

1.
5.

collected half of the pledges both.restricted aud unrestrictednodated sernice related to eomrounit-v, pS0,000
Purchased Equipmen! P100,000.
UNIVERSITIES A}ID COLLEGES
Shrdent tuition and other fees of P700,000 were assessed, of which P500,000 has
been collected
and P10,000 is esrimated to be unco.llectible.
Re*gnu9 bitted for dormitories (an arxitiary enterprise) is P200,000, of which p50,000
is nor yet
received.
!*p"ot t at ptd 11d essigned tr:r the following: Insfiuct[on-P300,000; Research-p200,000;
Student sendces-P I 00,000.
Expensesrelated tb Arxiliary enteq:rises of p100,000 were paid.
A governrment grant of P150,000 was received to Ue usia exclusirrely for defraying costs of
holding confercnces on the topic of :research,

HOSPITALS/I{EALTT{ CARE
Patients were billed forthe following_gross charges: Room and
board-p680,000; physician,s careP220,000; Laboratory and radiologipt 10,000.
cash Revenues were rc,ported arom: Neursstand and srac}: barfr5,000; parking
lot chargesP I 0,000; Vending machines-p5,000.
Collected P400,000 receivables fircrm patients.
A charity allowance of p50,000 was granted to indigent patients.
contactual adjustuents granted to pilients for Med]care char$,,es totaled p60,000.

Auit 4
e/ra/r,r ACCO 3123
I

Test
LM"fundg

I.

lvIA. DELIA

'1-2,

M.LIZ

IDE]rffpiCATION.

\-r4:gestablished

c*ti6'onn2

by colleges or,niversities to aceoult lqr resourees ther ar: *,,.uilable

*Tffitr#H*t#ffilffi*ffi*m*t orcansera'oa
timc perrod or after a designared
iffi;t,
ffi:fr;
point the
are
added
io
the
uoreshicted
currmt t"a, ,-fo* ,n"
?t-which
"fu-d&-*t-i:;H:,;:ltffi:ffi,:'Hg
-,..i#*-*4----1m"ff'fi ,mffi*$,ffi*:H;T#:ffi
r,s,ins,losses,andreorassincation
ev-eD-t,

rresouroes

Dstwee,rr classes

of net asscts or chmges innet assets.

Unrrsfrr*d Sr-rnesorEces available..for genaal ofro,tio*, with no rlsfiictious placed upon those
by an outsider, and other eich,enge iansactions.
.1't, - ,/g,o*"ls
?n+;(k v6l1&V
rnajor revexrue accotmt for a hospilal, in which lhe grnss rvenges earned
are
rr'me
reooxledonaqaogrualbasisatestablishrldrat$. e --- --

1,. ^,/

Al0nte rucctrnd
t.{1$iPu+6di
-_

;;

&om outrldr sourclr lbr e suuont opoldar

Fryporc rpoctficd by tho

;7*ff;;consisting

o
r*.*ry*p"*^fi,
[^r"dr+"q 9;

of resources thar are available for loaos to sfidffs.

tJDe of firnd formed when cash or othcr p*perncs are traasferred
to the instihrtion
the inco-me produced bv zuch
can be

*,*",

ffi"?fiti:ilrt*ffiffi;mf.',

x A t)ry. of firnd formed whea cash or other properties thst are transferred to the institution
$
/
subjttt-P 1l! requirement tha specified palme,nts be made to a designated #;"*o
h^"d
duriryhis lifetime
I

lacuda,rory

'l-est

II.

'IKl|ts;

UI(rALUts.

AWllft"irton

Expense is not rec,orded by non-profit organiizations.

tlc;Lc z.y'LrtCollectiod' or *Works of fut" should not be recogni:zed as contibutionreventrc.
ions of aruriversity bookstore are classified as arnriliary acfrvity.
TrA
t,r,* a.t#aarbuted asset is recognize.d as rea'$uue by a non-profit organization
{.rnfueaccounting period inwhich pledged revenues arc recognized is dependent on donor

yp

F
T

specifications.
rtrp
6r, 0nconditic,lal Pledges are recognized a$ reve,llues in thc p"=iod thc promisc is collected.
T
taba, 7y Non-profit organizations afe generally exempted ftom toration
FaW 8.>Cha{ffservices aro excluded from the gposs patie,nt servise rvcouE,
9.-C6fuactual adjusments are deductions fiom gross patient senrice in determining net

1p

pa@rfservicerevenue
faVt 1g,,filoUitional promise to give may be recognized
the conditions.
Test

III.

es revenrrc even before the satisfaction

ENUMERATION.

Givethe three classification of net assets.

2. Give the four classification of plant futds.
3. Give the two general classffioation ofrevenues in an educatiou institution.
4. Identiff the main revonue in a hospital.
1.

'6

P^+rclrl N*k<sll.

aullgltrftidd Nt+As&
hlanlfwdt

4,

y4-?umt

of