Agency XYZ received from DBM allotment for capital outlay and NCA amounting to P15 million and P10 million respectively. 10% withholding tax is imposed on all government transaction. The agency purchased computers amounting to P500,000. Transportation cost amounting to P50,000 and installation cost worth P20,000 was incurred by the company. Purchase orders for tables and chairs amounting to P470,000 were sent out to suppliers. The agency also wanted to construct a new building with an estimated cost of P8 million. Interested constructors were invited for the bidding. REQUIRED: How much is the balance of Cash at the end of the period?
Agency XYZ received from DBM allotment for capital outlay and NCA amounting to P15 million and P10 million respectively. 10% withholding tax is imposed on all government transaction. The agency purchased computers amounting to P500,000. Transportation cost amounting to P50,000 and installation cost worth P20,000 was incurred by the company. Purchase orders for tables and chairs amounting to P470,000 were sent out to suppliers. The agency also wanted to construct a new building with an estimated cost of P8 million. Interested constructors were invited for the bidding. REQUIRED: How much is the balance of Cash at the end of the period?
Chapter3: Income Sources
Section: Chapter Questions
Problem 88P
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Agency XYZ received from DBM allotment for capital outlay and NCA amounting to P15 million and P10 million respectively. 10% withholding tax is imposed on all government transaction. The agency purchased computers amounting to P500,000. Transportation cost amounting to P50,000 and installation cost worth P20,000 was incurred by the company. Purchase orders for tables and chairs amounting to P470,000 were sent out to suppliers. The agency also wanted to construct a new building with an estimated cost of P8 million. Interested constructors were invited for the bidding.
REQUIRED:
How much is the balance of Cash at the end of the period?
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