Annex 26.2



A. This ledger card shall be used by the C/M Accountant as subsidiary ledgers for all property and equipment of the barangay. This ledger shall be accomplished as follows:

1. Barangay, City/Municipality, Province - name of the barangay which owned the property/equipment, name of city/municipality and province where the barangay is situated
2. Property/Equipment - name of the property/equipment
3. Description - brief description of the property/equipment
4. Account Code - account code as provided in the Chart of Accounts
5. Est. Useful Life - estimated useful life of property/ equipment as determined by COA
6. Rate of Depreciation - rate of depreciation per month to be recorded in the books of accounts
7. Date - date of the source document
8. Reference - reference documents used as the basis in the recording the transactions such as JEV
9. Receipt-Qty./Unit Cost/Total Cost - the number of quantity received, the unit cost and the total cost of the property/equipment
10. Accumulated Depreciation - the amount of depreciation charged to the property/equipment
11. Transfer/Adjustment - the cost of property/equipment transferred to other agency or disposed, and adjustments made to the account
12. Balance - the difference between the total cost of the property/equipment less the accumulated depreciation and transfers/adjustments, if any

B. The P/ELC shall be kept for each class of property, plant and equipment to record the acquisition, description, custody, estimated life, depreciation, disposal and other information about the property/ equipment.

C. Transactions shall be posted promptly from source documents.

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