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ADJUSTMENTS IN DOLLAR ADJUSTMENTS IN PHP PwC Remarks Attachments

Num Description Debit Credit Num Description Debit Credit

1 PAJE 1: To adjust pension expense to 1 PAJE 1: To adjust pension expense to The P52,500 dividend income
appropriate balance appropriate balance
5241002000 RETIREMENT BENEFIT COST (F/O) $11,758.11 5241002000 RETIREMENT BENEFIT COST (F/O) 539,630.33 received by the retirement
Pension - FCP
7241001000 RETIREMENT BENEFIT COST (O/E) $958.91 7241001000 RETIREMENT BENEFIT COST (O/E) 44,008.33 plan last year is recorded 2008-FINALv2.xls
2713002000 RETIREMENT PLAN ASSET $17,759.31 7481001000 OTHER EXPENSES 49,134.66 this year.
8291001000 EXCHANGE LOSS-REALIZED-(1) $29,369.94 2713002000 RETIREMENT PLAN ASSET 534,504.00
7481001000 OTHER EXPENSES $1,106.39

2 PAJE 2: To book disposal in dollar books


410000000 MACHINERY-ACCUM. DEP. BEG. BAL. $266,213.55 Properly recorded in peso
400000000 MACHINERY-ACQUI. COST BEG. BAL. $286,205.15 books
8291001000 EXCHANGE LOSS-REALIZED-(1) $19,991.60

3 PAJE 3: To reverse depreciation expense 3 PAJE 3: To reverse depreciation expense Peso - password futco010
of impaired assets of impaired
410000000 MACHINERY-ACCUM. DEP. BEG. BAL. $30,197.77 1871501000 MACHINERY-ACCUM. DEP. BEG. BAL. 6,003,028.05
476013000 PRODUCTIVE-ACCU DEP $3,473.39 1961502030 SUNDRY EQUIP-ACC DEP DECREASE 70,241.82 FA MAR
2008.1_reviewedv2.zip
5442300000 DECREASE(FO)
DEPRECIATION - MACHINERY (FO) $30,197.77 1961503010 FO
INSTRUMENT-ACCU DEP 223,510.26
5442501000 DEPRECIATION - PRODUCTIVE(FO) $236.09 1961504010 DECREASE(FO)
PRODUCTIVE-ACCU DEP 2,482.52 Dollar
5442502000 DEPRECIATION - SUNDRY (FO) $1,014.12 5442300000 DECREASE(FO)
DEPRECIATION - MACHINERY (FO) 6,003,028.05
5442504000 DEPRECIATION-INSTRUMENT F/O $2,223.18 5442502000 DEPRECIATION - SUNDRY (FO) 70,241.82
5442504000 DEPRECIATION-INSTRUMENT F/O 223,510.26 Machinery&Equip
5442501000 DEPRECIATION - PRODUCTIVE(FO) 2,482.52 Worksheet.xls

Fur &
fixture_usdrev_reviewed.xls

mchine_usd_review
ed_ok6_3.xls

4 PAJE 4: To record impairment in ppe


8291001000 EXCHANGE LOSS-REALIZED-(1) $284.55 Properly recorded in peso
1990000000 ALLOWANCE FOR IMPAIRMENT $284.55 books

5 PAJE 5: To adjust gain/loss on sale of Properly recorded in peso. I


disposal of fixed asset to proper balance did not included transportation
8061001000 EXCHANGE GAIN-REALIZED -(1) $2,986.87 and other costs incidental to Gain or Loss on
salev2.xls
the transaction because it will
8521301000 PROFIT ON DISPOSAL-MACHINERY-TF $2,986.87
result to having a gain/loss
which does not tie up with the
ppe worksheet and cash flow
disclosures.
Properly recorded in peso. I
did not included transportation
and other costs incidental to
the transaction because it will
result to having a gain/loss
which does not tie up with the
ppe worksheet and cash flow
disclosures.

6 PAJE 6: To adjust RE beginning to


appropriate amount
3671000000 UNAPPROP. RETAINED EARNINGS(B/S) $57,914.91 Properly recorded in peso
2481001000 LONG-TERM LOAN-FHP $71,258.00 books.
8061001000 EXCHANGE GAIN-REALIZED -(1) $13,343.09

7 PAJE 7: To correct entry made on 7 PAJE 7: To correct entry made on


payments to Taiwan accounts payments to Taiwan accounts
3042901000 ACCOUNTS PAYABLE(TF)-USD TRADE $398,026.98 3042901000 ACCOUNTS PAYABLE(TF)-USD TRADE 16,194,780.42 c/o Brian
3101001100 ACCOUNTS PAYABLE - OTHERS (USD) $398,026.98 3101001100 ACCOUNTS PAYABLE - OTHERS (USD) 16,194,780.42

8 PAJE 8: To adjust cheng tung to 8 PAJE 8: To adjust cheng tung account to


appropriate balance appropriate account
9000000150 ACCTS.PAYABLE(CHENGTUNG)- $14,920.96 9000000150 ACCTS.PAYABLE(CHENGTUNG)- 678,615.41 c/o Brian
USD(RM) USD(RM)
3101001030 ACCTS PAYABLE OTHERS $14,920.96 3101001030 ACCTS PAYABLE OTHERS 678,615.41
(CHENGTUNG) (CHENGTUNG)

9 PAJE 9: To correct entry made on 9 PAJE 9: To correct entry made on


payments to Cheng Tung accounts payments to Cheng Tung accounts
9000000150 ACCTS.PAYABLE(CHENGTUNG)- $19,244.95 9000000150 ACCTS.PAYABLE(CHENGTUNG)- 802,227.96 c/o Brian
USD(RM) USD(RM)
3101001100 ACCOUNTS PAYABLE - OTHERS (USD) $19,244.95 3101001100 ACCOUNTS PAYABLE - OTHERS (USD) 802,227.96

10 PAJE 10: To close AR and AP balances to 10 PAJE 10: To close AR and AP balances
appropriate amounts to appropriate amounts
3101001400 ACCTS PAYABLE $371,035.03 1741007000 ACCTS REC'BLE (ENOMOTO) HITACHI 15,294,470.95 c/o Brian
OTHERS(ENOMOTO)USD
1741007000 ACCTS REC'BLE (ENOMOTO) HITACHI $370,775.05 1741008000 ACCTS REC'BLE (ENOMOTO) TF 10,724.19
1741008000 ACCTS REC'BLE (ENOMOTO) TF $259.98 3101001400 ACCTS PAYABLE 15,305,195.14
OTHERS(ENOMOTO)USD

11 PAJE 11: To adjust inventory/cogs to


appropriate balances
1532002000 ALLOW FOR INVTY OBSOLESCENCE- $16,890.88 Properly recorded in peso
1561002000 FG
ALLOW FOR INVTY OBSOLESCENCE- $7,238.25 books I nventory and

1581001030 RM
SUPPLIES INVENTORY (IMPORT) NF $1,830,353.05
COGS translation 2008.xls

1581002010 PRODUCT TOOLS INVENTORY-1 $38,237.75


1581003010 PACKAGING SUPPLIES INVENTORY-1 $51,839.69 Purchases used.
1532001000 MERCHANDISE $156,304.77
1571001000 WORK IN PROCESS $137,713.76 Purchases
1571001100 WORK IN PROCESS (2BT167GNE) $2,382.53 2008_reviewedv2.xls
1571001200 WORK IN PROCESS (2BT167GNM) $1,002.91
1561001000 RAW MATERIAL $19,159.90
1561001100 RAW MATERIAL - CIG $117,215.69
1581001000 RAW MATERIAL (INDIRECT) $7,041.69
1581001020 SUPPLIES INVENTORY (IMPORT) TF $170,931.08
1581001030 SUPPLIES INVENTORY (IMPORT) NF $1,763,880.43
1581002020 PRODUCT TOOLS INVENTORY - TF $37,508.31
1581002030 PRODUCT TOOLS INVENTORY - NF $114,531.66
1581002040 PRODUCT TOOLS INVENTORY-ES $10,307.52
1581003020 PACKAGING SUPPLIES INVENTORY-TF $67,564.46
Key-487 END BAL. RAW MAT. $136,375.59

Key-490 ENDING WIP $141,099.21

Key-492 ENDING FG $156,304.77

Key-326 PURCHASE OF RAW MATERIALS $114,856.54

Key-1461 Trading materials $8,467.59

Key-480 PURCHASE RETURNS $10,349.65

5453001000 INSURANCE EXPENSE (FO) $4,221.58


8291001000 EXCHANGE LOSS-REALIZED-(1) $124,914.67
5221001000 WAGES-BASIC-DIRECT $7,481.81
5215001100 WAGES-BASIC-INDIRECT $3,262.91
5406501000 PACKAGING COST $3,191.10
5425000000 ELECTRICITY EXPENSE (FO) $11,936.81
5510000000 STATIONERY EXPENSES (FO) $6,533.89
5472000000 ROYALTY EXPENSE (FO) $3,197.99

12 PAJE 12: To recognize unrealized forex


exchange gain for long term loan
receivable
2481001000 LONG-TERM LOAN-FHP $178,645.29 Not applicable for peso
8061001100 EXCHANGE GAIN-UNREALIZED -(1) $178,645.29 books. See no. 14 support.

13 PAJE 13: Finance lease adjustment 13 PAJE 13: Adjustments pertaining to


finance lease
3101001000 ACCOUNTS PAYABLE - OTHERS $1,018.65 3101001000 ACCOUNTS PAYABLE - OTHERS 239,816.54
3321001000 OTHER CURRENT LIABILITIES-1 $11,790.28 3321001000 OTHER CURRENT LIABILITIES-1 493,658.82
3321008000 LEASE LIABILITY - NON CURRENT $12,808.93 3321008000 LEASE LIABILITY - NON CURRENT 733,475.36
270000000 DEFERRED FINANCE CHARGES $404.21 270000000 DEFERRED FINANCE CHARGES 20,897.43 Finance Lease
2008.xls
1782002000 DEF. FINANCE CHARGES-N0N $404.21 1782002000 DEF. FINANCE CHARGES-N0N 20,897.43
8211001000 CURRENT
INTEREST AND DISCOUNT CHARGE $59.41 CURRENT
8061001000 EXCHANGE GAIN-REALIZED -(1) $59.41

14 PAJE 14: To adjust unrealized forex loss to


appropriate amount
8291002000 EXCHANGE LOSS-UNREALIZED-(1) $218,615.96
8061001000 EXCHANGE GAIN-REALIZED -(1) $218,615.96 Forex Analysis
2008.xls

15 PAJE 15: Income tax adjustments 15 PAJE 15: Income tax adjustments
4730000000 CORPORATION TAX $1,388.06 3117900000 INCOME TAX PAYABLE 151,108.33
3117900000 INCOME TAX PAYABLE $3,763.43 8291001000 EXCHANGE LOSS-REALIZED-(1) 155,241.36
8061001000 EXCHANGE GAIN-REALIZED -(1) $5,151.49 Key-332 PROVISION FOR INCOME TAX- 306,349.69 Tax Comp - Futaba
CURRENT 2008v3.xls

16 PAJE 16: To adjust depreciation expense


to proper balance
5442503100 DEPRECIATION - PRESS DIESET (ES) $774.00 Not applicable for peso
5461000000 TRAINING EXPENSES (FO) $774.00 books

17 PAJE 17: To properly classify security


expenses lodged in repairs
7451002000 SECURITY SERVICES $58,932.59 Properly recorded in peso
7451001100 REPAIRS AND MAINTENANCE $58,932.59 books
SGA and Other
Expenses Translation 2008.xls
18 PAJE 18: To properly classify other losses
as part of COGS
9200000027 OTHER LOSSES-STOCK DEFICIT-F.G. $35,616.65 Properly recorded in peso
9200000029 OTHER LOSSES-SPOILAGE (WIP) $5,020.28 books. See attachment
8296001000 OTHER LOSSES $40,636.93 in no. 18.

19 PAJE 19: To record additional provision for 19 PAJE 19: To record additional provision
input vat receivable for input vat receivable
Key-323 BAD DEBTS EXPENSE $358,480.40 Key-323 BAD DEBTS EXPENSE 11,082,347.76
Translation
1741003100 ALLOWANCE FOR VAT REVERSAL $358,480.40 1741003100 ALLOWANCE FOR VAT REVERSAL 11,082,347.76 Worksheet-PwC.xls

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