The following allotment and NCA were received by Agency MNL from DBM: P9 million for capital outlay; P13 million for maintenance and other operating expenses; P14 million for personal services. The agency is using an old building for its office. The left wing of this building is no longer being used due to an earthquake that happened years ago which made it unsafe for use. However, engineers and architect were hired to fix the left wing in order for it to be safe for use once again. The engineers and architects are predicting that the left wing is safe for use for the next 10 years
The following allotment and NCA were received by Agency MNL from DBM: P9 million for capital outlay; P13 million for maintenance and other operating expenses; P14 million for personal services. The agency is using an old building for its office. The left wing of this building is no longer being used due to an earthquake that happened years ago which made it unsafe for use. However, engineers and architect were hired to fix the left wing in order for it to be safe for use once again. The engineers and architects are predicting that the left wing is safe for use for the next 10 years assuming that no more strong earthquakes will be experienced. Cost of materials for this project amounted to P13.4 million while labor cost amounted to P11.5 million. The right wing also needs to be repainted. The agency bought paints totaling P3,700,000. Once the renovation was done, all offices were refurnished. New furniture and fixtures and equipment were purchased amounting to P5 million. Office supplies were also re-stocked costing the agency P1.5 million. Assume taxes withheld for all gov’t transaction is 10%. How much is the balance of cash at the end of the period?
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