Futaba List Of Adjustments
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ADJUSTMENTS IN DOLLAR Num
Description
1 5241002000
PAJE 1: To adjust pension expense to appropriate balance RETIREMENT BENEFIT COST (F/O)
7241001000
RETIREMENT BENEFIT COST (O/E)
2713002000
RETIREMENT PLAN ASSET
8291001000
EXCHANGE LOSS-REALIZED-(1)
7481001000
OTHER EXPENSES
2
PAJE 2: To book disposal in dollar books
410000000
MACHINERY-ACCUM. DEP. BEG. BAL.
400000000
MACHINERY-ACQUI. COST BEG. BAL.
8291001000
EXCHANGE LOSS-REALIZED-(1)
3
PAJE 3: To reverse depreciation expense of impaired assets MACHINERY-ACCUM. DEP. BEG. BAL.
410000000 476013000
ADJUSTMENTS IN PHP Debit
Credit
Description
1
539,630.33
received by the retirement
44,008.33
plan last year is recorded
$11,758.11
5241002000
PAJE 1: To adjust pension expense to appropriate balance RETIREMENT BENEFIT COST (F/O)
$958.91
7241001000
RETIREMENT BENEFIT COST (O/E)
7481001000
OTHER EXPENSES
2713002000
RETIREMENT PLAN ASSET
$17,759.31 $29,369.94
PwC Remarks
Num
Debit
Attachments
Credit The P52,500 dividend income Pension - FCP 2008-FINALv2.xls
49,134.66 this year. 534,504.00
$1,106.39
$266,213.55
Properly recorded in peso $286,205.15
books
$19,991.60 3 $30,197.77
1871501000
$3,473.39
1961502030
5442300000
PRODUCTIVE-ACCU DEP DECREASE(FO) DEPRECIATION - MACHINERY (FO)
5442501000
DEPRECIATION - PRODUCTIVE(FO)
5442502000
DEPRECIATION - SUNDRY (FO)
5442504000
DEPRECIATION-INSTRUMENT F/O
$2,223.18
PAJE 3: To reverse depreciation expense of impaired MACHINERY-ACCUM. DEP. BEG. BAL. SUNDRY EQUIP-ACC DEP DECREASE FO INSTRUMENT-ACCU DEP
$30,197.77
1961503010
$236.09
1961504010
$1,014.12
5442300000
DECREASE(FO) PRODUCTIVE-ACCU DEP DECREASE(FO) DEPRECIATION - MACHINERY (FO)
5442502000
DEPRECIATION - SUNDRY (FO)
5442504000
DEPRECIATION-INSTRUMENT F/O
5442501000
DEPRECIATION - PRODUCTIVE(FO)
Peso - password futco010 6,003,028.05 70,241.82
FA MAR 2008.1_reviewedv2.zip
223,510.26 2,482.52
Dollar 6,003,028.05 70,241.82 223,510.26
Machinery&Equip Worksheet.xls
2,482.52
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)
1990000000
ALLOWANCE FOR IMPAIRMENT
5 8061001000
PAJE 5: To adjust gain/loss on sale of disposal of fixed asset to proper balance EXCHANGE GAIN-REALIZED -(1)
8521301000
PROFIT ON DISPOSAL-MACHINERY-TF
$284.55
Properly recorded in peso $284.55
$2,986.87 $2,986.87
books 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.
Gain or Loss on salev2.xls
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 3671000000 2481001000
PAJE 6: To adjust RE beginning to appropriate amount UNAPPROP. RETAINED EARNINGS(B/S) LONG-TERM LOAN-FHP
8061001000
EXCHANGE GAIN-REALIZED -(1)
7 3042901000
PAJE 7: To correct entry made on payments to Taiwan accounts ACCOUNTS PAYABLE(TF)-USD TRADE
3101001100
ACCOUNTS PAYABLE - OTHERS (USD)
8
PAJE 8: To adjust cheng tung to appropriate balance ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCTS PAYABLE OTHERS (CHENGTUNG)
9000000150 3101001030
9 9000000150 3101001100 10
PAJE 9: To correct entry made on payments to Cheng Tung accounts ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCOUNTS PAYABLE - OTHERS (USD)
$57,914.91 $13,343.09 7 $398,026.98 $398,026.98
$14,920.96 $14,920.96
3101001100
ACCOUNTS PAYABLE - OTHERS (USD)
8
PAJE 8: To adjust cheng tung account to appropriate account ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCTS PAYABLE OTHERS (CHENGTUNG)
3101001030
9 $19,244.95
9000000150 $19,244.95
1741007000 1741008000
ACCTS REC'BLE (ENOMOTO) TF
11
1561002000
PAJE 11: To adjust inventory/cogs to appropriate balances ALLOW FOR INVTY OBSOLESCENCEFG ALLOW FOR INVTY OBSOLESCENCE-
1581001030
RM SUPPLIES INVENTORY (IMPORT) NF
1581002010
PRODUCT TOOLS INVENTORY-1
$38,237.75
1581003010
PACKAGING SUPPLIES INVENTORY-1
$51,839.69
1532001000
MERCHANDISE
$156,304.77
1571001000
WORK IN PROCESS
$137,713.76
1571001100
WORK IN PROCESS (2BT167GNE)
1571001200
WORK IN PROCESS (2BT167GNM)
1561001000
RAW MATERIAL
1561001100
RAW MATERIAL - CIG
1581001000
RAW MATERIAL (INDIRECT)
1532002000
3042901000
PAJE 7: To correct entry made on payments to Taiwan accounts ACCOUNTS PAYABLE(TF)-USD TRADE
9000000150
PAJE 10: To close AR and AP balances to appropriate amounts ACCTS PAYABLE OTHERS(ENOMOTO)USD ACCTS REC'BLE (ENOMOTO) HITACHI
3101001400
Properly recorded in peso books.
$71,258.00
3101001100 10
$371,035.03
1741007000
PAJE 9: To correct entry made on payments to Cheng Tung accounts ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCOUNTS PAYABLE - OTHERS (USD)
1741008000
ACCTS REC'BLE (ENOMOTO) TF
$259.98
3101001400
ACCTS PAYABLE OTHERS(ENOMOTO)USD
c/o Brian 16,194,780.42
678,615.41
c/o Brian 678,615.41
802,227.96
c/o Brian 802,227.96
PAJE 10: To close AR and AP balances to appropriate amounts ACCTS REC'BLE (ENOMOTO) HITACHI
$370,775.05
$16,890.88
16,194,780.42
15,294,470.95 c/o Brian 10,724.19 15,305,195.14
Properly recorded in peso
$7,238.25
books
$1,830,353.05
I nventory and COGS translation 2008.xls
Purchases used.
$2,382.53 $1,002.91 $19,159.90 $117,215.69 $7,041.69
Purchases 2008_reviewedv2.xls
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
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
Key-480
PURCHASE RETURNS
5453001000
INSURANCE EXPENSE (FO)
8291001000
EXCHANGE LOSS-REALIZED-(1)
5221001000
WAGES-BASIC-DIRECT
$7,481.81
5215001100
WAGES-BASIC-INDIRECT
$3,262.91
5406501000
PACKAGING COST
5425000000
ELECTRICITY EXPENSE (FO)
$11,936.81
5510000000
STATIONERY EXPENSES (FO)
$6,533.89
5472000000
ROYALTY EXPENSE (FO)
$3,197.99
12 2481001000
PAJE 12: To recognize unrealized forex exchange gain for long term loan receivable LONG-TERM LOAN-FHP
8061001100
EXCHANGE GAIN-UNREALIZED -(1)
13
PAJE 13: Finance lease adjustment
3101001000
ACCOUNTS PAYABLE - OTHERS
$1,018.65
3101001000
PAJE 13: Adjustments pertaining to finance lease ACCOUNTS PAYABLE - OTHERS
3321001000
OTHER CURRENT LIABILITIES-1
$11,790.28
3321001000
OTHER CURRENT LIABILITIES-1
3321008000
LEASE LIABILITY - NON CURRENT
3321008000
LEASE LIABILITY - NON CURRENT
270000000
DEFERRED FINANCE CHARGES
1782002000 8211001000
DEF. FINANCE CHARGES-N0N CURRENT INTEREST AND DISCOUNT CHARGE
8061001000
EXCHANGE GAIN-REALIZED -(1)
14 8291002000
PAJE 14: To adjust unrealized forex loss to appropriate amount EXCHANGE LOSS-UNREALIZED-(1)
8061001000
EXCHANGE GAIN-REALIZED -(1)
15
PAJE 15: Income tax adjustments
$67,564.46
$8,467.59 $10,349.65 $4,221.58 $124,914.67
$3,191.10
$178,645.29
Not applicable for peso $178,645.29
books. See no. 14 support. 13
$12,808.93 $404.21 $404.21
270000000
DEFERRED FINANCE CHARGES
1782002000
DEF. FINANCE CHARGES-N0N CURRENT
$59.41
239,816.54 493,658.82 733,475.36 20,897.43 20,897.43
Finance Lease 2008.xls
$59.41
$218,615.96 Forex Analysis 2008.xls
$218,615.96 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)
Key-332
PROVISION FOR INCOME TAXCURRENT
16 5442503100
PAJE 16: To adjust depreciation expense to proper balance DEPRECIATION - PRESS DIESET (ES)
5461000000
TRAINING EXPENSES (FO)
17 7451002000
PAJE 17: To properly classify security expenses lodged in repairs SECURITY SERVICES
7451001100
REPAIRS AND MAINTENANCE
18 9200000027
PAJE 18: To properly classify other losses as part of COGS OTHER LOSSES-STOCK DEFICIT-F.G.
9200000029
OTHER LOSSES-SPOILAGE (WIP)
8296001000
OTHER LOSSES
19 Key-323
PAJE 19: To record additional provision for input vat receivable BAD DEBTS EXPENSE
1741003100
ALLOWANCE FOR VAT REVERSAL
$5,151.49
Tax Comp - Futaba 2008v3.xls
306,349.69
$774.00
Not applicable for peso $774.00
books
$58,932.59
Properly recorded in peso $58,932.59
books SGA and Other Expenses Translation 2008.xls
$35,616.65
Properly recorded in peso
$5,020.28
books. See attachment $40,636.93
in no. 18.
Key-323
PAJE 19: To record additional provision for input vat receivable BAD DEBTS EXPENSE
1741003100
ALLOWANCE FOR VAT REVERSAL
19 $358,480.40 $358,480.40
11,082,347.76 11,082,347.76
Translation Worksheet-PwC.xls
Description
1 5241002000
PAJE 1: To adjust pension expense to appropriate balance RETIREMENT BENEFIT COST (F/O)
7241001000
RETIREMENT BENEFIT COST (O/E)
2713002000
RETIREMENT PLAN ASSET
8291001000
EXCHANGE LOSS-REALIZED-(1)
7481001000
OTHER EXPENSES
2
PAJE 2: To book disposal in dollar books
410000000
MACHINERY-ACCUM. DEP. BEG. BAL.
400000000
MACHINERY-ACQUI. COST BEG. BAL.
8291001000
EXCHANGE LOSS-REALIZED-(1)
3
PAJE 3: To reverse depreciation expense of impaired assets MACHINERY-ACCUM. DEP. BEG. BAL.
410000000 476013000
ADJUSTMENTS IN PHP Debit
Credit
Description
1
539,630.33
received by the retirement
44,008.33
plan last year is recorded
$11,758.11
5241002000
PAJE 1: To adjust pension expense to appropriate balance RETIREMENT BENEFIT COST (F/O)
$958.91
7241001000
RETIREMENT BENEFIT COST (O/E)
7481001000
OTHER EXPENSES
2713002000
RETIREMENT PLAN ASSET
$17,759.31 $29,369.94
PwC Remarks
Num
Debit
Attachments
Credit The P52,500 dividend income Pension - FCP 2008-FINALv2.xls
49,134.66 this year. 534,504.00
$1,106.39
$266,213.55
Properly recorded in peso $286,205.15
books
$19,991.60 3 $30,197.77
1871501000
$3,473.39
1961502030
5442300000
PRODUCTIVE-ACCU DEP DECREASE(FO) DEPRECIATION - MACHINERY (FO)
5442501000
DEPRECIATION - PRODUCTIVE(FO)
5442502000
DEPRECIATION - SUNDRY (FO)
5442504000
DEPRECIATION-INSTRUMENT F/O
$2,223.18
PAJE 3: To reverse depreciation expense of impaired MACHINERY-ACCUM. DEP. BEG. BAL. SUNDRY EQUIP-ACC DEP DECREASE FO INSTRUMENT-ACCU DEP
$30,197.77
1961503010
$236.09
1961504010
$1,014.12
5442300000
DECREASE(FO) PRODUCTIVE-ACCU DEP DECREASE(FO) DEPRECIATION - MACHINERY (FO)
5442502000
DEPRECIATION - SUNDRY (FO)
5442504000
DEPRECIATION-INSTRUMENT F/O
5442501000
DEPRECIATION - PRODUCTIVE(FO)
Peso - password futco010 6,003,028.05 70,241.82
FA MAR 2008.1_reviewedv2.zip
223,510.26 2,482.52
Dollar 6,003,028.05 70,241.82 223,510.26
Machinery&Equip Worksheet.xls
2,482.52
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)
1990000000
ALLOWANCE FOR IMPAIRMENT
5 8061001000
PAJE 5: To adjust gain/loss on sale of disposal of fixed asset to proper balance EXCHANGE GAIN-REALIZED -(1)
8521301000
PROFIT ON DISPOSAL-MACHINERY-TF
$284.55
Properly recorded in peso $284.55
$2,986.87 $2,986.87
books 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.
Gain or Loss on salev2.xls
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 3671000000 2481001000
PAJE 6: To adjust RE beginning to appropriate amount UNAPPROP. RETAINED EARNINGS(B/S) LONG-TERM LOAN-FHP
8061001000
EXCHANGE GAIN-REALIZED -(1)
7 3042901000
PAJE 7: To correct entry made on payments to Taiwan accounts ACCOUNTS PAYABLE(TF)-USD TRADE
3101001100
ACCOUNTS PAYABLE - OTHERS (USD)
8
PAJE 8: To adjust cheng tung to appropriate balance ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCTS PAYABLE OTHERS (CHENGTUNG)
9000000150 3101001030
9 9000000150 3101001100 10
PAJE 9: To correct entry made on payments to Cheng Tung accounts ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCOUNTS PAYABLE - OTHERS (USD)
$57,914.91 $13,343.09 7 $398,026.98 $398,026.98
$14,920.96 $14,920.96
3101001100
ACCOUNTS PAYABLE - OTHERS (USD)
8
PAJE 8: To adjust cheng tung account to appropriate account ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCTS PAYABLE OTHERS (CHENGTUNG)
3101001030
9 $19,244.95
9000000150 $19,244.95
1741007000 1741008000
ACCTS REC'BLE (ENOMOTO) TF
11
1561002000
PAJE 11: To adjust inventory/cogs to appropriate balances ALLOW FOR INVTY OBSOLESCENCEFG ALLOW FOR INVTY OBSOLESCENCE-
1581001030
RM SUPPLIES INVENTORY (IMPORT) NF
1581002010
PRODUCT TOOLS INVENTORY-1
$38,237.75
1581003010
PACKAGING SUPPLIES INVENTORY-1
$51,839.69
1532001000
MERCHANDISE
$156,304.77
1571001000
WORK IN PROCESS
$137,713.76
1571001100
WORK IN PROCESS (2BT167GNE)
1571001200
WORK IN PROCESS (2BT167GNM)
1561001000
RAW MATERIAL
1561001100
RAW MATERIAL - CIG
1581001000
RAW MATERIAL (INDIRECT)
1532002000
3042901000
PAJE 7: To correct entry made on payments to Taiwan accounts ACCOUNTS PAYABLE(TF)-USD TRADE
9000000150
PAJE 10: To close AR and AP balances to appropriate amounts ACCTS PAYABLE OTHERS(ENOMOTO)USD ACCTS REC'BLE (ENOMOTO) HITACHI
3101001400
Properly recorded in peso books.
$71,258.00
3101001100 10
$371,035.03
1741007000
PAJE 9: To correct entry made on payments to Cheng Tung accounts ACCTS.PAYABLE(CHENGTUNG)USD(RM) ACCOUNTS PAYABLE - OTHERS (USD)
1741008000
ACCTS REC'BLE (ENOMOTO) TF
$259.98
3101001400
ACCTS PAYABLE OTHERS(ENOMOTO)USD
c/o Brian 16,194,780.42
678,615.41
c/o Brian 678,615.41
802,227.96
c/o Brian 802,227.96
PAJE 10: To close AR and AP balances to appropriate amounts ACCTS REC'BLE (ENOMOTO) HITACHI
$370,775.05
$16,890.88
16,194,780.42
15,294,470.95 c/o Brian 10,724.19 15,305,195.14
Properly recorded in peso
$7,238.25
books
$1,830,353.05
I nventory and COGS translation 2008.xls
Purchases used.
$2,382.53 $1,002.91 $19,159.90 $117,215.69 $7,041.69
Purchases 2008_reviewedv2.xls
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
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
Key-480
PURCHASE RETURNS
5453001000
INSURANCE EXPENSE (FO)
8291001000
EXCHANGE LOSS-REALIZED-(1)
5221001000
WAGES-BASIC-DIRECT
$7,481.81
5215001100
WAGES-BASIC-INDIRECT
$3,262.91
5406501000
PACKAGING COST
5425000000
ELECTRICITY EXPENSE (FO)
$11,936.81
5510000000
STATIONERY EXPENSES (FO)
$6,533.89
5472000000
ROYALTY EXPENSE (FO)
$3,197.99
12 2481001000
PAJE 12: To recognize unrealized forex exchange gain for long term loan receivable LONG-TERM LOAN-FHP
8061001100
EXCHANGE GAIN-UNREALIZED -(1)
13
PAJE 13: Finance lease adjustment
3101001000
ACCOUNTS PAYABLE - OTHERS
$1,018.65
3101001000
PAJE 13: Adjustments pertaining to finance lease ACCOUNTS PAYABLE - OTHERS
3321001000
OTHER CURRENT LIABILITIES-1
$11,790.28
3321001000
OTHER CURRENT LIABILITIES-1
3321008000
LEASE LIABILITY - NON CURRENT
3321008000
LEASE LIABILITY - NON CURRENT
270000000
DEFERRED FINANCE CHARGES
1782002000 8211001000
DEF. FINANCE CHARGES-N0N CURRENT INTEREST AND DISCOUNT CHARGE
8061001000
EXCHANGE GAIN-REALIZED -(1)
14 8291002000
PAJE 14: To adjust unrealized forex loss to appropriate amount EXCHANGE LOSS-UNREALIZED-(1)
8061001000
EXCHANGE GAIN-REALIZED -(1)
15
PAJE 15: Income tax adjustments
$67,564.46
$8,467.59 $10,349.65 $4,221.58 $124,914.67
$3,191.10
$178,645.29
Not applicable for peso $178,645.29
books. See no. 14 support. 13
$12,808.93 $404.21 $404.21
270000000
DEFERRED FINANCE CHARGES
1782002000
DEF. FINANCE CHARGES-N0N CURRENT
$59.41
239,816.54 493,658.82 733,475.36 20,897.43 20,897.43
Finance Lease 2008.xls
$59.41
$218,615.96 Forex Analysis 2008.xls
$218,615.96 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)
Key-332
PROVISION FOR INCOME TAXCURRENT
16 5442503100
PAJE 16: To adjust depreciation expense to proper balance DEPRECIATION - PRESS DIESET (ES)
5461000000
TRAINING EXPENSES (FO)
17 7451002000
PAJE 17: To properly classify security expenses lodged in repairs SECURITY SERVICES
7451001100
REPAIRS AND MAINTENANCE
18 9200000027
PAJE 18: To properly classify other losses as part of COGS OTHER LOSSES-STOCK DEFICIT-F.G.
9200000029
OTHER LOSSES-SPOILAGE (WIP)
8296001000
OTHER LOSSES
19 Key-323
PAJE 19: To record additional provision for input vat receivable BAD DEBTS EXPENSE
1741003100
ALLOWANCE FOR VAT REVERSAL
$5,151.49
Tax Comp - Futaba 2008v3.xls
306,349.69
$774.00
Not applicable for peso $774.00
books
$58,932.59
Properly recorded in peso $58,932.59
books SGA and Other Expenses Translation 2008.xls
$35,616.65
Properly recorded in peso
$5,020.28
books. See attachment $40,636.93
in no. 18.
Key-323
PAJE 19: To record additional provision for input vat receivable BAD DEBTS EXPENSE
1741003100
ALLOWANCE FOR VAT REVERSAL
19 $358,480.40 $358,480.40
11,082,347.76 11,082,347.76
Translation Worksheet-PwC.xls
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