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SENIOR HIGH SCHOOL

DEPARTMENT
Teachers’ Subject Outline # 5
TIME FRAME (WEEK): 1 WEEK
Subject Name: Accounting, Business and Management
Subject Descriptive Title: ABM1

I. Lesson Title:Value Added Tax II. Materials:

Book: Fundamentals of Accountancy,
Learning Outcomes: Business, and Management 1
At the end of the session,learners should be able to: (C&E Publishing, Inc.)
By: Flocer Lao Ong
1. Record transactions of a merchandising business in the general
journal References:
2. Journalize merchandising transactions in the general journal Introduction to Accounting for VAT
including the Value Added Tax
3. Prepare Journal entries and post to the ledger Merchandising https://www.youtube.com/watch?
Transactions including the Value Added Tax associated with these v=FBReTdBoEm4
transactions

III. INTRODUCTION / OVERVIEW

 This lesson is simply an overview of VAT, a tax imposed upon purchase of sale of goods. Although it
is inclued in the amount payable to the seller, it should not be recorded as an addition to the
purchases account of the buyer. The VAT paid on the purchase of goos is debited on a separate
account title input tax. Likewise, although this tax is added to the amount collectible from the
customer it should not be recorded as an addtition to the sales account of the seller.

IV. LEARNING ACTIVITY

A. ANTICIPATORY SET

For Introduction to The Worksheet

https://www.youtube.com/watch?v=FBReTdBoEm4
B.
INPUT
1. Read your book on Value Added Tax Chapter 10, page 253 to 258

C. CHECKING FOR UNDERSTANDING

 Answer Test your understanding on page 258 in a 1/4 sheet of paper

 Answer Drill 1 on page 259 in your Journal Notebook
 Answer Drill 2 on page 259 in your Journal Notebook

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SENIOR HIGH SCHOOL

DEPARTMENT
Teachers’ Subject Outline # 5
TIME FRAME (WEEK): 1 WEEK
Subject Name: Accounting, Business and Management
Subject Descriptive Title: ABM1
D. INDEPENDENT PRACTICE

 Answer Exercise 1,2, 3 and 4 on page 260-261 in your Journal Notebook

Property of UNIVERSITY OF CEBU – SENIOR HIGH atj202

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