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Tle He Fos q3 Module3
Tle He Fos q3 Module3
Tle He Fos q3 Module3
NegOr_Q3_FOS9_Module3_v2
TLE – Grade 9
Alternative Delivery Mode
Quarter 3 – Module 3: Conduct Night Audit
Process Financial Transactions
Second Edition, 2021
Republic Act 8293, section 176 states that: No copyright shall subsist in any
work of the Government of the Philippines. However, prior approval of the
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exploitation of such work for profit. Such agency or office may, among other things,
impose as a condition the payment of royalties.
This module was designed and written with you in mind. It is here to help
you master the nature of Processing Financial Transactions. The scope of
this module permits it to be used in many different learning situations. The
language used recognizes the diverse vocabulary level of students. The
lessons are arranged to follow the standard sequence of the course. But the
order in which you read them can be changed to correspond with the
textbook you are now using.
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What I Know
Direction: Write the letter of the correct answer on your answer sheet. Write it on
your activity notebook.
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8. The transactions that are required by a business in order to obtain the
goods or services needed to accomplish the goals of the organization
a. Sales c. Receipts
b. Purchases d. Payments
9. A written acknowledgement of having received or taken into ones
possession a specified amount of goods or money.
a. Sales c. Receipts
b. Purchases d. Payments
10. The transactions that refer to a business receiving money for a good or
service
a. Sales c. Receipts
b. Purchases d. Payments
11. The account or account name can either be the type of account as in
the example above or it can refer to the account holder's name which
could be the name of the hotel’s guest.
a. account number c. account
b. debit d. credit
12. A unique code composed of numbers, letters, or other characters, and is
assigned to the account to make it easier to be entered and accessed to
in a database.
a. account number c. account
b. balance d. credit
13. An entry recording an amount owed, listed on the left-hand side or
column of an account
a. account number c. account
b. debit d. credit
14. An entry recording a sum received, listed on the right-hand side or
column of an account
a. account number c. account
b. balance d. credit
15. The difference between the sum of debit entries and the sum of credit
entries entered into an account during a financial period
a. account number c. account
b. balance d. credit
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Lesson
Process Financial
3 Transactions
The financial transactions of a business with its customers and clients is
tracked, recorded, and managed by the accounting section of the business or
organization. The accounting department is responsible for the financial health
and tracks the performance of the business directly.
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What’s In
CROSSWORD
Direction: As a review of the previous lesson, cross out the types of hotel
computerized reservation system terms found in the word puzzle below.
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What’s New
Directions: List down as many as you can the different vouchers that you know.
Write your answers in your notebook.
Example:
What is It
Financial Transactions
Financial transactions between the guests and the hotel start at the time of
reservation or registration and ends at the checkout; the payment of reservation
fee, check-in down payment, payment for the use of facilities and services, and food
and amenities, all these constitutes a hotel’s financial transactions with its guests.
The four main types of financial transactions that occur in a business are
sales, purchases, receipts, and payments.
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transactions are recorded in the
accounting journal for the seller or
service provider as a debit to cash or
accounts receivable and a credit to the
sales account.
Example: Marga stayed for a week-
long vacation at Hyatt Hotel and paid
the bill at the front desk prior to
checking out.
2. Purchases are the transactions that a business
must conduct in order to receive the
commodities or services required to
achieve the organization's objectives.
Cash purchases result in a debit to
the inventory account and a credit to
the cash account. The debit entry
would still be to the inventory
account, and the credit entry would be
to the accounts payable account if the
transaction was made with a credit
account.
For example, the ten air conditioning
units ordered two weeks ago as an
upgrade to some of Hotel Blanca's
room units arrived. It was paid in cash
at the time of delivery.
3. Receipts refers to a written acknowledgement of
receiving or taking possession of a
certain amount of goods or money.
Carl's receipt for the payment of the
meal he ordered for room service was
given to him by the cafeteria
employees.
4. Payments transactions that refers to a business
receiving money for a goods or
services. They are recorded in the
accounting journal of the business
issuing the payment as a credit to
cash and a debit to accounts payable.
Example: Anton called for a room
reservation at Highlands Hotel and
Resort. He gave the front desk clerk
his debit card number to pay for the
reservation fee.
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The Accounting Cycle
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Entries guarantee that debits and credits are equal, a
worksheet is produced. Adjustments will have to be
made if there are any differences.
6. Adjusting Adjusting entries are created as a result of worksheet
Worksheet corrections and the results of the passage of time. For
Entries example, an adjusting entry may accrue interest
revenue that has accrued over time.
7. Creating Financial Adjusting entries are created as a result of worksheet
Statements corrections and the results of the passage of time. For
example, an adjusting entry may accrue interest
revenue that has accrued over time.
8. Closing the Books At the end of the quarter, an establishment uses
closing entries to finish temporary accounts, revenues,
and expenses. Transferring net income into retained
earnings is one of the closing entries. Finally, a
business produces a post-closing trial balance to
check that the debits and credits are correct, and the
cycle begins again.
(Life n.d.)
Date of entry—The date when the transaction occurred or the data was entered
into the accounting system
Credit—an entry recording a sum received, listed on the right-hand side or column
of an account. It decreases the value of an asset or increases the value of a liability.
The columns should be added across and down and the total debits should equal
the total credits
Balance—During a financial term, the difference between the total of debit and
credit entries entered into an account. The account shows a debit balance when
total debits exceed total credits.
Data entered in the general ledger come from the different folios, a folio is a
statement of all transaction that has taken place in a single account, and vouchers,
the detailed documentary evidences for a transaction, used during hotel financial
transactions such as:
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Types of folios
Employee folio—is assigned for hotel employee to charge against coffee shop
privileges
Charge Voucher—is utilized to assist a charge buy transaction that does not take
place at the front desk.
Petty Cash Voucher—is usually a simple form used to document a petty cash fund
disbursement (payment). Petty cash vouchers, often known as petty cash receipts,
are readily available at office supply stores. It should have space for the following
information: the date and amount of the disbursement.
Cash Advance Voucher— is used to support cash flow out of the hotel, either
directly to or on behalf of the guest
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What’s More
Activity I
Direction: Match column A with column B. Write the letter of the correct answer
only.
A B
a. a. assigned for non-resident
1. Guest folio
guest
2. Employee folio b. b. assigned for hotel employee
to charge against coffee shop
privileges
3. Non-guest folio c. assigned to charge for
individual guests
4. Master folio d. assigned charge for
group/organization
5. Folio e. manages the financial
transactions of the business
with its customers and clients
6. Accounting section f. statement of the transactions
that has taken place in a
single account
Activity II. Using your electricity or water bill for the past 2 months, make a
sample account entry to a general ledger (15 points).
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What I Have Learned
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
I will apply
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
Essay Rubrics
Areas of
Assessment 10 points 7 points 4 points 1 point
Presents ideas Presents ideas
in an original in a consistent Ideas are too Ideas are vague
Ideas manner manner general or unclear
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What I Can Do
Directions: Arrange the steps according to the process one needed to follow in the
accounting cycle. Write it on your activity notebook.
______7. Posting
Assessment
Directions: Multiple Choice. Choose the letter of the correct answer. Write this
activity on your answer sheet.
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4. Used to support an account allowance
a. Commission Voucher c. Charge Voucher
b. Petty Cash d. Allowance
5. Used to support cash flow out of the hotel, either directly to or on behalf of the
guest.
a. Cash advance Voucher c. Charge Voucher
b. Petty Cash d. Allowance
8. The transactions that are required by a business in order to obtain the goods
or services needed to accomplish the goals of the organization
a. Sales c. Receipts
b. Purchases d. Payments
10. The transactions that refer to a business receiving money for a good or service
a. Sales c. Receipts
b. Purchases d. Payments
11. The account or account name can either be the type of account as in the
example above or it can refer to the account holder's name which could be the
name of the hotel’s guest.
a. account number c. account
b. debit d. credit
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13. An entry recording an amount owed, listed on the left-hand side or column of
an account
a. account number c. account
b. debit d. credit
14. An entry recording a sum received, listed on the right-hand side or column of
an account
a. account number c. account
b. balance d. credit
15. The difference between the sum of debit entries and the sum of credit entries
entered into an account during a financial period.
a. account number c. account
b. balance d. credit
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NegOr_Q3_FOSModule3_v2
Assessment
What’s I Can Do
1. a 7. a 13. b.
1. 7 4. 6 7. 3 2. b 8. b 14. d
2. 1 5. 8 8. 4 3. c 9. c. 15. b.
3. 5 6. 2 4. d 10. d.
5. a. 11. c.
6. c. 12. a
What’s In
What’s More
1. c 4. d
2. b 5. f
3. a 6. e
What’s New
1. Charge Voucher
2. Commission
Voucher
What I Know
3. Allowance
1. a 6. c 11. c
2. b 7. a 12. a Voucher
3. c 8. b 13. b 4. Cash Advance
4. d 9. c 14. d Voucher
5. a 10. d 15. b 5. Cash Receipt
Voucher
Answer Key
References
Website
Book
Roldan, A. S. (2014). Introduction to Hotel & Front Office Operations. Skills Development
and Management Services, Inc.
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