PERFORMANCE TASK

General Instructions:
1. The task will be done individually.
2. Download the file, and then do it offline.
3. After doing the task, save the file to PDF format with the file name of your SURNAME-PETA.
Example:
CACHOLA-PETA
Not following the given format will be deducted 5% of their score.
4. Submit your task through this link

11-Mrzel
https://drive.google.com/drive/folders/1GKP6a260BFTdB6C85NrtvOmDHIScZ3b7?usp=sharing

11-Rutkowski
https://drive.google.com/drive/folders/1iBGbG1Wtl9BtodoyeyhHUC_kVq_DcFAo?usp=sharing

5. Questions will be entertained during the given schedule of consultation hours for the subject. 6.
Submit your work on or before April 30, 2021. Students who were unable to submit the required
task within the given time shall receive 10% deduction of their score.
 1Reference: Fundamentals of ACCOUNTANCY Business and Management 1 by WIN Ballada 2017 edition
TASK 1
Name:
Section:

Developing a Chart of Accounts

Dr. Suri Asis opened his new clinic named Suri Asis Clinic. Listed below are the accounts that
will be needed in the ledger.
Cash Prepaid Rent

Accounts Receivable Interest Expense

Furniture and Fixtures Salaries Expense

Depreciation Expense-Furniture and Fixtures Unearned revenue

Accumulated Depreciation-Furniture Suri Asis Revenue

and Fixtures

Asis, Withdrawal Mortgage Payable

Supplies Expense Clinic supplies

Notes Payable Accounts Payable

Rent Expense Equipment

Utilities Expense Prepaid Insurance

Required:
Arrange these ledger accounts in order in which they would appear in the ledger. Assign each
account a number, using a three-digit numbering scheme: the 100 series for assets, the 200 series
for liabilities, etc. Use the second digit to indicate specific accounts within a major category.

Example:
Cash 110
 2Reference: Fundamentals of ACCOUNTANCY Business and Management 1 by WIN Ballada 2017 edition
TASK 2

Journalizing, Posting, and preparing a trial balance.

Charlie Dizon opened CBC Hair Salon on April 1, 2019. Presented below were the
completed transactions of ABC Logistics Services for the month of April.

April

1 Place P 500,00 in CBC Hair Salon account as capital.

2 Purchased equipment costing 45, 000.

4 Acquired a service vehicle costing P300, 000. A payment of P100, 000 in

cash was made and a note payable given for the P200, 000.

5 Bought supplies on account from EDF, Inc., P20, 000.

6 Leonardo placed 60,000 as investments

8 Paid for the 6 months of advertising and recorded Prepaid Advertising in

the amount of P30, 000.

9 Received P20, 000 in cash for the logistics services rendered.

10 Paid 10, 000 of the amount owed from the transaction of April 5.

11 Rendered services and billed the customer, P15, 500.

12 Purchased Office equipment on account

13 Acquired additional supplies and paid in cash, P7, 200.

14 Rendered services P15, 500.

15 Paid salaries, 10, 000.

16 Service Rendered and received a payment worth of P15,000

17 Withdrew 5,000 from account.

18 Billed AA Store for logistics services rendered, P22, 100.

19 Payed for purchase made on April 12.

20 Paid utilities expense, P6, 500.

 22 Received P8, 000 from the customer on the April 11 transaction.

23 Paid the first payment of the note payable, P30, 000

24 Received P10, 000 from the customer for services rendered.

27 Paid Miscellaneous expenses, P7, 000.

30 Paid salaries, P10, 000.

Required:
1. Establish the following T-accounts: Cash; Accounts Receivable; Service Vehicle; Supplies;
Prepaid Advertising; Equipment; Notes Payable; Accounts Payable; Madlambayan,
Capital; Madlambayan, Withdrawal; Service Revenues; Salaries Expense, Rent Expense,
Miscellaneous Expense; Utilities Expense.
2. Prepare the journal entries for the April transactions.
3. Post the entries to the ledger.
4. Prepare a trial balance.

3Reference: Fundamentals of ACCOUNTANCY Business and Management 1 by WIN Ballada 2017 edition
TASK 3

Effects of Errors on the Trial Balance

Which of the following errors would cause a trial balance to have unequal totals? Explain your answers
briefly. State the amount of error, if there’s any.

1. A payment of 20, 000 to a creditor for an account payable was debited to accounts receivable
and credited to cash
a. The Trial is balance, but there is error in journal entry
2. A purchase of furniture of P15, 000 in cash wash recorded as debit to furniture and fixtures of P1,
500 and credited to cash for P1, 500.
-The amount is balanced, but there is error in the recordings
3. A payment to a creditor was recorded as debit to accounts payable for P5, 700 and as a credit to
cash for 7, 500.
The trial balance Is un equal. Journalizing and amount encoding is wrong.

TASK 4
List down all the topics that you want to learn in the subject Fundamentals of Accounting 1. Make a
reflection on what you have learned and what makes it hard for you to understand the subject. Please
do the task honestly; all the answers that I will get from you will be my guide in teaching you next school
year Fundamentals of Accounting 2.

4Reference: Fundamentals of ACCOUNTANCY Business and Management 1 by WIN Ballada

2017 edition
5Reference: Fundamentals of ACCOUNTANCY Business and Management 1 by WIN
Ballada 2017 edition