SPECIAL EDUCATION FUND BALANCE SHEET

MUNICIPALITY OF CORELLA
Balance Sheet
As of October 31, 2010
Special Education Fund
ASSETS
Current Assets
Cash
Cash on Hand
Cash in Vault 388.09
Payroll Fund 1,500.00 1,888.09
Cash in Banks – Local Currency
Cash in Bank – Local Currency , Current Account 293,846.90 295,734.99
Receivables
Receivable Accounts
Special Education Tax Receivable 743,429.91
Advances to Officers and Employees 80,449.00 823,878.91
Prepayments
Deferred Charges 1,860.11 1,121,474.01
Property, Plant and Equipment
Land and Land Improvements
Land Improvements 11,910.00
Less :  Accumulated Depreciation – Land Improvements 6,431.40 5,478.60
Buildings
Other Structures 3,000.00
Less :  Accumulated Depreciation – Other Structures 1,350.00 1,650.00
Office Equipment, Furniture and Fixtures
Office Equipment 25,200.00
Less :  Accumulated Depreciation – Office Equipment 22,680.00 2,520.00
Furniture and Fixtures 23,529.75
Less :  Accumulated Depreciation – Furniture and Fixtures 20,877.76 2,651.99
IT Equipment and Software 44,998.75
Less :  Accumulated Depreciation – IT Equipment 31,139.76 13,858.99 19,030.98
Machineries and Equipment
Medical, Dental and Laboratory Equipment 10,000.00
Less :  Accumulated Depreciation – Medical, Dental and Laboratory Equipment 2,550.00 7,450.00 33,609.58
Other Assets
Other Assets 45,494.77
TOTAL ASSETS 1,200,578.36
LIABILITIES
Current Liabilities
Inter – Agency Payables
Due to BIR 1,919.72
Due to LGUs (1,651.50) 268.22
Other Liability Accounts
Other Payables 504.31 772.53
Deferred Credits
Deferred Special Education Tax Income 743,429.91
Other Deferred Credits 19,728.73 763,158.64
TOTAL LIABILITIES 763,931.17
EQUITY
Government Equity
Government Equity 436,647.19
TOTAL EQUITY 436,647.19
TOTAL LIABILITIES AND EQUITY 1,200,578.36
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