Quarter 4

Fundamentals of Accountancy, Business and Management 1 Week 1

 Learning Task 2
Debtor Creditor
Initial Investment ₱300,000
Acquired furniture and fixture ₱20,000
Purchased supplies ₱30,000
Rendered services on cash basis ₱20,000
Paid salaries of employee’s ₱10,000
Total ₱300,00 ₱260,00
 Reflection
I understand that a trial balance is a list of all the balances in the nominal ledger accounts. It serves as a check to
ensure that for every transaction, a debit recorded in one ledger account has been matched with a credit in
another.
I realize that the process of transferring the entries from journal to respective ledger accounts is called ledger
posting. Balancing of ledgers is carried to find out differences at the end of the year. Ledger posting is entering
information in the ledger, in respective accounts from the journal for individual records.
I need to learn more about posting transactions in the ledger and trial balance.

Fundamentals of Accountancy, Business and Management 1 Week 2

 Learning Task

Fundamentals of Accountancy, Business and Management 1 Week 3

 Learning Task 1
Date Accounts Title Description P Debts Credit
Januar R
y
2 Cash on hand To record initial investment of Ella Goody 20,000.00
Ella Goody’s Capital 20,000.00
4 Purchases To record purchases of accessories from 10,000.00
Cash on hand cell supply 10,000.00
6 Cash on hand To record sales of accessories to Princess 400.00
A/R Princess Faye Faye 100.00
Sales 500.00
7 Purchases To record purchases of accessories to 5,000.00
Freight in Chinkee Lee Supply 500.00
A/P Chinkee Lee 5,000.00
Cash on hand 500.00
 11 A/R King Art To record sales of accessories to King Art 5,000.00
Sales 5,000.00
12 Sales To record the total cash sales 8,000.00
13 A/R Princess Dianne To record sales of accessories to Princess 100.00
Sales Dianne 100.00
16 Cash on hand To record the payment of Princess Faye 2,100.00
A/R Princess Faye 200.00
Salary Expenses To record payment of salary expenses 5,000.00
Cash on hand 5,000.00
19 A/P Chinkee Lee Supply To record the payment to Chinkee Lee 2,500.00
Cash on hand 2,500.00
20 Cash on hand To record the payment of King Art 3,000.00
A/R King Art 3,000.00
22 Cash on hand To record cash sales 10,000.00
Sales 10,000.00
25 Purchases To record purchased of accessories Te 10,000.00
Cash on hand Qua 10,000.00
26 Miscellaneous Expenses To record miscellaneous expenses 6,000.00
Cash on hand 6,000.00
30 Sales return and allowances To record sales returns and allowances 120.00
Cash on hand 120.00
31 Salaries Expenses To record salaries, internet and utilities 5,000.00
Utilities Expenses expenses 1,300.00
Internet Expenses 600.00
Cash on hand 6,900.00

Fundamentals of Accountancy, Business and Management 1 Week 4

 Activity 1
1. BOOK OF ACCOUNTS
2. BOOK KEEPER
3. BOOK KEEPING
4. GENERAL JOURNAL
5. JOURNAL DISBURSEMENT
6. .
7. JOURNAL PURCHASE
8. JOURNAL SALES
9. .
10. ACCOUNTING CLERK

Fundamentals of Accountancy, Business and Management 1 Week 6

 Learning task 2
General Ledger
Account: Accounts Payable Account No: 2000
Date Particular Ref. Debit Credit Balance
January 06, 2020 Purchased merchandise on account from ABC AP1 24,000.00 24,000.00
Company
January 07, 2020 Purchased office supplies on account from DEF AP2 4,560.00 4,560.00
Bookstore
January 12, 2020 Purchased merchandise on account from GHI AP3 15,000.00 15,000.00
Merchandising
January 17, 2020 Purchased equipment on account of JKL AP4 65,000.00 65,000.00
Company
 January 22, 2020 Purchased furniture on account from MNO AP5 12,500.00 12,500.00
Home Center

General Ledger
Account: FURNITURE Account No: 1300
Date Particular Ref. Debit Credit Balance
January 22, 2020 Purchased furniture on account from MNO AP5 12,500.0 12,500.00
Home Center 0

General Ledger
Account: OFFICE SUPPLY Account No: 1500
Date Particular Ref. Debit Credit Balance
January 07, 2020 Purchased office supplies on account from AP2 4,560.00 4,560.00
DEF Bookstore

General Ledger
Account: EQUIPMENT Account No: 1600
Date Particular Ref. Debit Credit Balance
January 17, 2020 Purchased equipment on account of JKL AP4 65,000.0 65,000.00
Company 0

General Ledger
Account: PURCHASE Account No: 5100
Date Particular Ref. Debit Credit Balance
January 06, 2020 Purchased merchandise on account from AP1 24,000.0 24,000.00
ABC Company 0
January 12, 2020 Purchased merchandise on account from GHI AP3 15,000.0 15,000.00
Merchandising 0

Fundamentals of Accountancy, Business and Management 1 Week 7

 Activity 2
1. cost of 10 balls =10\times 30=30010×30=300
money received for selling 10 balls=10\times 50=500=10×50=500
gross profit =500-300= ph. 200
2. Cost of Goods Sold = Beginning Inventory + New Purchases - Ending Inventory
= (Php. 100,000 + Php. 450,000) - Php. 35,000 = Php. 515,000
Cost of Goods Sold for XYZ Company = Php. 515,000
3. Cost = 10x500 = 5000
Gross profit = 7x800-10x500=600