Question: Please I need help on this problem. 2. Bureau X is a national government agency operating under general fund 01. The major transactions of this

Please I need help on this problem.

Please I need help on this problem. 2. Bureau X
2. Bureau X is a national government agency operating under general fund 01. The major transactions of this bureau for the year ended December 31, 20X6 are summarized below 1. The approved appropriation for the year was P5,000,000, 12% of this amount was appropriation reserve and the balance was released per SARO No. 2222. NCA was received, P3,000,000. 2. Obligations incurred amounted to P3,000,000. (PS, P1,200,000; MO, P1,000,000; CO, 800,000) 3. As of December 31, 20X6, P600,000 of these obligations were outstanding, the rest were paid. 4. P500,000 of the obligations for the purchase of equipment have been paid. 5. Income collected and deposited, P2,400,000. instructions: Prepare the following: (Refer to the chart of accounts in the appendix) /. Entries in the general journal form in the books of Bureau X. 2. Trial Balance of Bureau X. 3. Prepare journal entries to set up Petty Cash Fund P6,000 for miscellaneous expenses and payment of the following expenses from the fund: Office Supplies P2,500 Transportation... 500 Repairs of aircon 1,000 LBC Air Cargo . 1,000 4. Prepare the closing entries for Problem 2. 5. Prepare the statement of financial position based on Problem 4

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