Learning Task 3.(Performance Task) Independent Activity Directions: Determine what ACCOUNT TITLE and group according to MAJOR ACCOUNT. Fill in the ch 1. Mr. Juan purchased table napkins worth P2,000 to be used in his barbecue operations. 2. The customer with the P5,000 account receivable is broke you have estimated that you can only o from him. 3. He hired a helper in his barbecue business. The employee earns compensation of P8,000. 4. The cost of the barbecue that was sold for P5,000 is P3,000. 5. He paid Val Santos Matubang P5,000 to endorse the product. 6. On your total account receivable of P5,000, you expect to collect about P4,800. 7. The barbecue grill was stolen. 8. He received an order of barbecue worth P8,000. The customer, Alain Valle, paid the sale price bu to deliver the barbecue next week. 9. Mr. Juan made a temporary withdrawal of P2,000 from the barbecue business. 10. Mr. Juan expects to use the barbecue grill for 5 years. Source: Andres,C.S, et al (2016) Teaching Guide for Senior High School Fundamentals of Business and Management 1"- Published by Commission on Higher Education in collabe Philippine Normal University ACCOUNT TITLE MAJOR ACCOUNT 1. 3. 4. 5. 6. 7. 2345 678

Learning Task 3.(Performance Task) Independent Activity Directions: Determine what ACCOUNT TITLE and group according to MAJOR ACCOUNT. Fill in the ch 1. Mr. Juan purchased table napkins worth P2,000 to be used in his barbecue operations. 2. The customer with the P5,000 account receivable is broke you have estimated that you can only o from him. 3. He hired a helper in his barbecue business. The employee earns compensation of P8,000. 4. The cost of the barbecue that was sold for P5,000 is P3,000. 5. He paid Val Santos Matubang P5,000 to endorse the product. 6. On your total account receivable of P5,000, you expect to collect about P4,800. 7. The barbecue grill was stolen. 8. He received an order of barbecue worth P8,000. The customer, Alain Valle, paid the sale price bu to deliver the barbecue next week. 9. Mr. Juan made a temporary withdrawal of P2,000 from the barbecue business. 10. Mr. Juan expects to use the barbecue grill for 5 years. Source: Andres,C.S, et al (2016) Teaching Guide for Senior High School Fundamentals of Business and Management 1"- Published by Commission on Higher Education in collabe Philippine Normal University ACCOUNT TITLE MAJOR ACCOUNT 1. 3. 4. 5. 6. 7. 2345 678

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter2: Analyzing Transactions Into Debit And Credit Parts

Section2.2: Analyzing How Transactions Affect Accounts

Problem 1WT

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Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchase on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to staff Cash withdraw from business for personal use Based on your own 10 transactions, prepare: 1. Ledger
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Description and Instructions Suppose you are a part of a group of students from a prominent university and were sent out as a team to work with a leading merchandizing company as a part of a work experience program. The team having been introduced to the general manger was told that the Accountant who normally prepares the financial statements has suddenly resigned and there is no one available to prepare the company’s financial statements which are now due. As aspiring university students, you and your group members have expressed an interest in taking on the task. As a group, you are required to collaborate and analyse the problem at hand then apply the accrual basis of accounting in the preparation of the company’s financial statements. The problem to be resolved: The following trial balance was extracted from the books of Scholes Farm Ltd December 31, the end of the company’s financial year. The company is owned by Paul Scholes and is in the business of buying and farming…
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