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On December 23, 2022, a legislation approves the allocation of P10B funds to support the operations of a National Government Agency (NGA) for the whole CY 2023. At the start of 1st quarter of CY 2023, NGA receives authorization to incur obligations for a maximum amount of P2.4B for the said quarter and Notice of Cash Allocation amounting to P2.2B. At the end of the 1st quarter, total obligations incurred amounted to P2B while total disbursements amounted to P1.7B. Compute for the amount of unliquidated obligations for the 1st Quarter of CY 2023. Options:  a. P400,000,000 b. P200,000,000 c. P300,000,000 d. P500,000,000

On December 23, 2022, a legislation approves the allocation of P10B funds to support the operations of a National Government Agency (NGA) for the whole CY 2023. At the start of 1st quarter of CY 2023, NGA receives authorization to incur obligations for a maximum amount of P2.4B for the said quarter and Notice of Cash Allocation amounting to P2.2B. At the end of the 1st quarter, total obligations incurred amounted to P2B while total disbursements amounted to P1.7B. Compute for the amount of unliquidated obligations for the 1st Quarter of CY 2023. Options:  a. P400,000,000 b. P200,000,000 c. P300,000,000 d. P500,000,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On December 23, 2022, a legislation approves the allocation of P10B funds to support the operations of a National Government Agency (NGA) for the whole CY 2023. At the start of 1st quarter of CY 2023, NGA receives authorization to incur obligations for a maximum amount of P2.4B for the said quarter and Notice of Cash Allocation amounting to P2.2B. At the end of the 1st quarter, total obligations incurred amounted to P2B while total disbursements amounted to P1.7B.

Compute for the amount of unliquidated obligations for the 1st Quarter of CY 2023.

Options: 

a. P400,000,000
b. P200,000,000
c. P300,000,000
d. P500,000,000
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