Fundamentals of

Accountancy, Business
and Management 1
Quarter 3 – Module 5:
Books of Accounts
Fundamentals of Accountancy, Business and Management 1 – Grade 11
Alternative Delivery Mode
Quarter 3 – Module 5: Books of Accounts
First Edition, 2020

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 government agency or
office wherein the work is created shall be necessary for exploitation of such work for profit.
Such agency or office may, among other things, impose as a condition the payment of
royalties.

Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names,
trademarks, etc.) included in this module are owned by their respective copyright holders.
Every effort has been exerted to locate and seek permission to use these materials from their
respective copyright owners. The publisher and authors do not represent nor claim ownership
over them.

Published by the Department of Education

Secretary: Leonor Magtolis Briones
Undersecretary: Diosdado M. San Antonio

SENIOR HS MODULE DEVELOPMENT TEAM

Printed in the Philippines by Department of: Education
Author – Schools Division of Bataan
Judith S. Tabugan
Co-Author – Language
Office Address: ProvincialEditor
Capitol Compound, Balanga
: Janelle Paola V.City,
ArceoBataan
Telefax: Co-Author – Content
(047) 237-2102
Evaluator : Rose Darren G. Buenaventura
E-mail Address: [email protected] : Marvin B. Hernandez
Co-Author – Illustrator
Co-Author – Layout Artist : Lawrence O. Munar

Team Leaders:
School Head : Marijoy B. Mendoza, EdD
LRMDS Coordinator : Karl Angelo R. Tabernero

SDO-BATAAN MANAGEMENT TEAM:

Schools Division Superintendent : Romeo M. Alip, PhD, CESO V
OIC- Asst. Schools Division Superintendent : William Roderick R. Fallorin, CESE
Chief Education Supervisor, CID : Milagros M. Peñaflor, PhD
Education Program Supervisor, LRMDS : Edgar E. Garcia, MITE
Education Program Supervisor, AP/ADM : Romeo M. Layug
Education Program Supervisor, Senior HS : Danilo S. Caysido
Project Development Officer II, LRMDS : Joan T. Briz
Division Librarian II, LRMDS : Rosita P. Serrano

REGIONAL OFFICE 3 MANAGEMENT TEAM:

Regional Director : May B. Eclar, PhD, CESO III
Chief Education Supervisor, CLMD : Librada M. Rubio, PhD
Education Program Supervisor, LRMS : Ma. Editha R. Caparas, EdD
Education Program Supervisor, ADM : Nestor P. Nuesca, EdD

Printed in the Philippines by the Department of Education –

Schools Division of Bataan
Office Address: Provincial Capitol Compound, Balanga City, Bataan
Telefax: (047) 237-2102
E-mail Address: [email protected]
 Fundamentals of
Accountancy, Business
and Management 1
Quarter 3 – Module 5:
Books of Accounts
Introductory Message
This Self-Learning Module (SLM) is prepared so that you, our dear learners,
can continue your studies and learn while at home. Activities, questions,
directions, exercises, and discussions are carefully stated for you to understand
each lesson.

Each SLM is composed of different parts. Each part shall guide you step-by-
step as you discover and understand the lesson prepared for you.

Pre-tests are provided to measure your prior knowledge on lessons in each

SLM. This will tell you if you need to proceed on completing this module or if you
need to ask your facilitator or your teacher’s assistance for better understanding of
the lesson. At the end of each module, you need to answer the post-test to self-
check your learning. Answer keys are provided for each activity and test. We trust
that you will be honest in using these.

In addition to the material in the main text, Notes to the Teacher are also
provided to our facilitators and parents for strategies and reminders on how they
can best help you on your home-based learning.

Please use this module with care. Do not put unnecessary marks on any part
of this SLM. Use a separate sheet of paper in answering the exercises and tests.
And read the instructions carefully before performing each task.

If you have any questions in using this SLM or any difficulty in answering
the tasks in this module, do not hesitate to consult your teacher or facilitator.
Thank you.
 What I Need to Know

This module was designed and written so that you will be able to differentiate
journal from ledger and identify their types (ABM_FABM11-IIIf-23-24).

Specifically, you are expected to:

a. illustrate the format of general and special journals and

b. illustrate the format of general and subsidiary ledger.

1
 What I Know

Directions: Match Column A with Column B. Write your answers on a separate sheet
of paper.

A B
1. It is the most basic journal. A. Purchase Journal

2. It is used to record all purchases. B. General Journal

3. It is used for various miscellaneous. C. Sundry Column

4. It is the opposite of cash receipt journal. D. Journalizing Process

5. It is the process entering transaction data E. Cash Disbursement

in the journal. Journal

2
 Lesson
Books of Accounts
1
Books are essential to all of us. They are a
common source of information and an integral tool
for learning. In every field of study, there is a
specialized book to be used.

Books can also be used for documenting or

recording important data, such as in the field of
business, particularly in accounting. Accountants
use general journal and ledger and other special
journals for different business transactions. These
are like books where you can find mostly financial information and records of
transactions which can be used as reference in decision-making for the success of
one’s business management.

The general journal is the “book of original entry” where you can find the initial
record of the transactions of a firm while the ledger contains the total or balance of
each account.

What’s In

Directions: Identify what is described in each number. Choose your answer from the
box. Write your answers on a separate paper.

Chart of Accounts Notes Payable

Liabilities Non-Current Asset
Owner's Equity Notes Receivable
Assets Prepaid Expenses
Capital Cash

____________ 1. These are the debt of the company payable in money, goods, or
services.

____________ 2. It is the list of all the accounts of the company that is being used by
the firm to their financial records.

3
____________ 3. These are the resources owned by the owner.

____________ 4. It is the claim of the owner on the business.

____________ 5. It is the most liquid asset.

____________ 6. It is a written note from the customer to pay his account on a given
time and date.

____________ 7. Land and building are examples of these assets.

____________ 8. These are debts that are supported with a written note or promise.

____________ 9. These are the resources or assets that have been invested in the
business.

____________ 10. These are the bills paid in advance.

Notes to the Teacher

This module prepares students to differentiate a journal from a
ledger and identify their types.

What’s New

Directions: Read each statement below carefully. Write T if you think the statement
is true and F if the statement is false. Write your answers on a separate
sheet of paper.

____________ 1. The general ledger is the most basic journal.

____________ 2. In recording, you are entering data transaction in the journal.

____________ 3. All entries involve only two accounts: one debit and one credit.

____________ 4. Accounting is the process of identifying, recording, and

communicating economic events.

____________ 5. Cash Disbursement Journal is used to record all cash that have been
received.

4
____________ 6. Cash Receipts Journal is used to record all transactions involving
cash payments.

____________ 7. Sales Journal is used to record all sales on credit.

____________ 8. Purchase Journal is used to record all purchases of inventory on

credit.

____________ 9. A general ledger is a group of accounts containing the independent

data of a specific general ledger.

____________ 10. General Journals are books of original entry.

What Is It

According to Weygandt (2005), “Accounting is the process of identifying, recording,

and as well as communicating economic events of an organization to different
interested users.” These three parts of the process are expounded in the Teaching
Guide for Senior High School, Fundamentals of Accountancy, Business and
Management 1. It explains where we record the identified transactions and what tools
to document these transactions. It also highlights how important these records are
in accounting.

Process of Accounting

Recording transactions and events in chronological order

is the best thing that a company can do. They are listed in
the journal which is known as the “book of original entry”.
It clearly shows the debit and credit effects on specific
accounts in every transaction. The general and the special
journal are the main types of accounting journal.

5
General Journal

The general journal is the most basic journal. It is composed of spaces for dates,
account titles and explanations, references, and two columns for the amount.

Here are its significant contributions in the recording process.

• It imparts the complete effects of a transaction in one place.

• It presents a chronological record of transactions.
• It helps to avoid or notice errors in a way that the debit and the credit amounts
for each entry can be easily compared.

The figure below is an example of a general journal of JST Restaurant:

Account Title and

Date Ref. Debit Credit
Explanation
2020
June 1 Cash Php 50,000.00
Dantes, Capital Php 50,000.00
Initial investment

As you can see, it includes columns for the date of the transaction, the title of the
accounts to be debited and credited, the reference, the amount of each debit and
credit, and explanation of the transaction.

Journalizing Process

Entering transaction data in the journal is known as “journalizing”. Businesses

make separate journal entries for each transaction. The Date, Account Title and
Explanation, P.R., Debit and Credit.

• The date of the transaction is entered in the Date column.

• The debit account title or the account to be debited is entered at the extreme left
margin of the Account Titles and Explanation column, and the amount of debit
to be recorded is written in the Debit column.
• The credit account title or the account to be credited is entered in the next row
in the column of Account Titles and Explanation. The amount of the credit is
recorded in the Credit column.
• A short explanation of the transaction appears on the line below the credit
account title (a space is left between journal entries to separate individual journal
entries and to make the reading of the journal easy).
• The column titled P.R. known as posting reference is left blank when the journal
entry is made. (This column will be used when the journal entries are transferred
to the ledger accounts.)

Using the following transactions, we are going to illustrate the recording of

transactions of Mr. Ven Dela Rosa in the general journal.

6
 • October 1, 2019 – He invested Php 300,000.00 in a restaurant business by
opening an account in Velez Bank.

• October 3, 2019 – He purchased kitchen appliances for his business amounting

to Php150,000.00 on cash basis.

• October 14, 2019 – He started his operations and made sales for that day
amounting to Php 50,000.00.

Analyze the table.

Account Title and

Date P.R Debit Credit
Explanation
10/01/19 Cash Php 300,000.00
V. Dela Rosa, Capital Php 300,000.00
To record initial investment
10/03/19 Kitchen Appliances 150,000.00
Cash 150,000.00
To record purchase of
kitchen appliances
10/14/19 Cash 50,000.00
Sales 50,000.00
To record sales
In simple entry, there are only two accounts: one debit and one credit. If the
transactions require more than two accounts in journalizing, it is called the
“compound entry”. All of the transactions in the example above are simple entries.

Here is an example of a compound entry. Read and analyze.

On October 28, 2019, Mr. Dela Rosa purchased a motorcycle which costs
Php 110,000.00. He paid Php 80,000.00 cash and agreed to pay the remaining
Php 30,000.00 within the month. The compound entry is as follows:

Account Title and

Date P.R Debit Credit
Explanation
10/28/19 Motorcycle Vehicle Php
Cash 110,000.00 Php
Accounts Payable 80,000.00
To record purchase of Php
motorcycle by paying cash 30,000.00
and the balance on account
Special Journals

Some businesses encounter voluminous quantities of similar and recurring

transactions which may create congestion if these transactions are recorded
repeatedly in a single day or a month in the general journal.

We use different special journals and these are the following:

7
 • Cash Receipts Journal
This is used to record all the cash that has been received.
• Cash Disbursements Journal
This is used to record all the transactions involving cash payments.
• Sales Journal or the Sales on Account Journal
This is used to record all sales on credit or on account.
• Purchase Journal or the Purchase on Account Journal
This is used to record all purchases of inventory on credit or on account.
Date Description Ref. Debit Credit Credit Credit
(Particulars) Cash Sales Accounts Sundry
Receivable

• Cash Receipts Journal

This is used to record transactions involving receipt or collection of cash.
• The date of the transaction is written in the date column.
• A brief explanation of the transaction is entered in the Description column.
• A column entitled P.R. for (Posting Reference) is left blank when the journal
entry is made because it will be used later when the journal entries are
transferred to the ledger accounts.
• The amount of cash received for a particular transaction is placed in the
Debit Cash column, and
• The major categories of receipts ( cash sales and collections of account
receivables ) are put in separated columns because these transactions are
frequent and repetitive items.

The Sundry column is used for various miscellaneous and less regular items such
as capital investment and receipt loan proceeds.

The Official Receipts or Cash Receipts issued by the business is the source
document for this journal.

Cash Disbursements Journal (CDJ)

The cash disbursements journal is the opposite of the cash receipts journal.
We record all cash payments in the journal.
The table below is a cash disbursement journal of JST Restaurant:
Date Description P.R. Check Credit Debit Debit Debit Credit
(Particulars) or Cash Accounts Salaries Supplies Sundry
Voucher
Payable
No.

2020
Paid employees Php 30,000.00 Php 30,000.00
July 1 101

8
 The date of the transaction is written in the Date column.
• A brief explanation of the transaction is written in the Description column.
• The column titled P.R. known as (Posting Reference) is left blank when the
journal entry is made. We will use this column later if the journal entries
are transferred to the ledger accounts.
• When it comes to related cash payment, the check or voucher number
represents the identifying number of the check issued. There were times
that a check or cash voucher accompanies the disbursement. We can also
use the voucher number as an alternative for this column.
• The amount of cash received for a particular transaction is entered in the
Debit Cash column.
• Major categories of receipts (cash sales, and collection of accounts
receivable) are provided with separate columns because these transactions
are frequent and repetitive items.
• For various miscellaneous and less regular items (capital investment,
receipt of loan proceeds), the Sundry column is used.
• In updating the journal, the source documents are the check voucher or
cash voucher, cash receipts or official receipts from suppliers or vendors.

Sales Journal/Sales on Account Journal

The Sales Journal or Sales on Account Journal is used in recording several sales
transactions on account. For credit transactions with various customers or clients,
the source document for this journal is the charge invoice or sales invoice.

An example of Sales Journal of JST Restaurant is shown below:

Sales Debit
Description Credit
Date P.R. Invoice Accounts
(Customer's Name) Sales
No. Receivable
2020
August Masikap Express 010 Php 20,000.00 Php 20,000.00

• The date of the transaction is entered in the Date column of JST Restaurant
sales journal.
• A brief explanation of the transaction is entered in the description column
or the name of the customer of JST Restaurant sales journal.
• The column titled P.R. or (Posting Reference) is left blank when the journal
entry of JST Restaurant is made. This column is used later when the
journal entries of JST Restaurant are transferred to the ledger accounts.
• The Charge Invoice Number or Sales Invoice Number of JST Restaurant
sales journal represents the identifying number of the source document
issued to the customer when the sale was made.
• The Debit Accounts Receivable column of JST Restaurant sales journal
represents the amount of the sale transactions indicated in the charge
invoice.
• The Credit Sales column of JST Restaurant sales journal represents the
amount of the sale transactions indicated in the charge invoice.

9
 • The source document for JST Restaurant’s journal is the Charge Invoice
issued by the business.

Purchase Journal/Purchases on Account Journal

We usually record repeating transactions of purchases made on account through

the Purchase Journal or the Purchases on Account Journal. The purchase journal’s
source documents are the invoices from the supplier of the said company.

An example of a Purchase Journal of JST Restaurant is shown below:

Date Description P.R. Sales Debit Credit

(Supplier's Name) Invoice Purchases Accounts
No. (from Payable
supplier)
2020
Oct. 1 Freeway Express 002011 Php 40,000.00 Php 40,000.00

• The date of the transaction of JST Restaurant is entered in the Date

column.
• A brief explanation of the transaction of JST Restaurant is entered in the
description column or the name of the supplier.
• The column titled P.R. stands for posting reference which is left blank when
the journal entry of JST Restaurant is made. This column is used later
when the journal entries of JST Restaurant are transferred to the ledger
accounts.
• The Charge Invoice Number or Sales Invoice Number of JST Restaurant
represents the identifying number of the source document issued by the
supplier when the items, goods or merchandise were delivered to JST
Restaurant when the purchase was made.
• The Debit Purchases column on the purchase journal of JST Restaurant
represents the amount of the goods purchased as indicated in the charge
invoice from the supplier.
• The Credit Accounts Payable column in the JST Restaurant purchase
journal represents the amount of the goods or items purchased on credit
from the supplier.
• The amount is indicated in the charge invoice issued by the supplier of JST
Restaurant.
• The charge invoice from the supplier or vendor is the source document for
this journal.

10
An accounting book in which the accounts and their
related amounts as recorded in the journal which are
posted periodically is called the ledger which is also
known as the book of final entry. The reason is that all
the balances in the ledger are used in the preparation
of financial statements. It is also referred to as the T-
Account because the basic form of a ledger is like the
letter “T”.

There are two kinds of ledgers: the general ledger and the subsidiary ledger.
General Ledger

The general ledger is grouping of all accounts used in the preparation of financial
statements. The GL, as accounting professionals call it, summarizes all the activities
that have taken place as recorded in its subsidiary ledger that is why it is known as
the controlling account.

The format of a general ledger of JST Restaurant is shown below:

Account Title: Account No.:

Date Item P.R. Debit Credit Balance

• The account portion refers to the account title (cash and accounts receivable).

• The account number is an assigned number for each account title of the JST
Restaurant to facilitate ease in recording and cross-referencing.

• The Date column of JST Restaurant’s general ledger identifies when the
transaction happened.

• The item represents the source journal and the nature of the transactions of
JST Restaurant.

• The Reference of JST Restaurant’s general ledger identifies the page number
of the general or special journal from which the information was taken.

11
 • The Debit and Credit columns are used in recording the number of
transactions from the general journal or special journal.

• The Balance Column of JST Restaurant’s general ledger represents the

running balance of the Account after considering the debit and credit
amounts. If the running balance amount is positive, the account has a debit
balance whereas if it has a negative running balance, the accounts have a
credit balance.

Subsidiary Ledger

A subsidiary ledger is a group of similar accounts that consists of an independent

data of a specific general ledger. It is officially created or maintained if individualized
data is needed for a specific general ledger account. Individual record of various
payables to suppliers is the best example of a subsidiary ledger. When we total the
amount of all subsidiary ledgers it should equal the balance in the Accounts Payable
of the general ledger.

A format of subsidiary ledgers of JST Restaurant is shown below:

Accounts Payable
Subsidiary Ledger
Vendor/Supplier: Vendor No.:
Address:
Date Item P.R. Debit Credit Balance

• The upper portion indicates the name and address of the vendor or supplier
of JST Restaurant.

• The vendor number of JST Restaurant’s subsidiary ledger is an assigned

number for each vendor as a reference in keeping the records of a supplier.

• The Date column of JST Restaurant’s subsidiary ledger identifies when the
transaction happened.

• The description column of JST Restaurant’s subsidiary ledger describes the

nature of the transaction.

• The Reference of JST Restaurant’s subsidiary ledger identifies the page

number of the general or special journal from which the information was
taken.

12
 • The Debit and Credit columns of JST Restaurant’s subsidiary ledger reflect
the various effects of every transaction to the record of the supplier or
vendor.

• The Balance column of JST Restaurant’s subsidiary ledger provides the

running balance of every supplier.

Take note that the total running balance for all subsidiary ledgers of JST
Restaurant should be equal to the accounts payable in the general ledger.

What’s More

Directions: Identify the appropriate journal to be used in each item below. Choose
from the book of accounts listed in the box. Write your answers on a
separate sheet of paper.

General Journal Sales Journal Purchase Journal

Cash Receipt Journal Cash Disbursement Journal

1. Mr. Ong invested an equipment on his own business worth of Php

200,000.00.

2. Aling Lita sold merchandise on account worth of Php 3,000.00.

3. Mr. Valdez purchased a vehicle worth of Php 150,000.00 on account.

4. Rhea received Php 20,000.00 for the services that she rendered.

5. Janice paid the salaries of her employees on her accounting firm with the
amount of Php 30,000.00.

6. Khariz bought office supplies on cash basis amounting to Php 2,000.00.

7. Trishi received cash of Php 5,000.00 on the sales she made.

8. Mr. Melbourne purchased supplies amounting to Php 1,500.00 with the

terms of 2/2, n/30.

9. Julie sold merchandise amounting to Php 20,000.00 with the terms of 2/5,
n/30.

10. Mr. Ong withdrew cash worth of Php 3,000.00 for his personal use.

13
 What I Have Learned

Directions: Fill in the blanks with the correct accounting term/s. Choose the answers
from the box below and write them on a separate sheet of paper.

Chronological General ledger Compound Entry

Subsidiary ledger Cash Receipts Journal Purchase Journal

Cash Disbursement Journal Ledger Special Journal

Journalizing Special Journal Date

Simple entry Communicating Description Column

1. Entering transaction data in the journal is known as _______________.

2. An entry that requires three or more accounts is called ______________.
3. An entry that only involves one debit and one credit is known as
_______________.
4. Recording transactions involving receipt or collection of cash is called
____________.
5. The journal where all cash payments are recorded is known as
_______________.
6. The accounting book in which the accounts and their related amounts are
recorded in the journal is referred to as _______________.
7. The grouping of all accounts used in the preparation of financial statements
is called ______________.
8. The group of accounts containing the independent data of a specific general
ledger is referred to as ______________.
9. Recurring transactions of purchases on account are recorded in
_______________.
10. Cash Receipts Journal, Cash Disbursement Journal, Sales Journal are
examples of ________________.
11. Accounting is the process of identifying, recording and ______________.
12. Companies initially record transactions and events in _____________ order.
13. There are two types of journals: the general journal and _______________.
14. A brief explanation of the transaction is entered in the ________________.
15. The date of transaction is entered in the _____________ column.

14
 What I Can Do
Directions: Answer the following questions in 3-5 sentences. Write your answers
on a separate sheet of paper.

1. How are you going to differentiate General Ledger from a Subsidiary Ledger?

2. How are you going to differentiate General Journal from a General Ledger?

3. What are the different types of special journals?

4. Why do companies use special journals?

5. What are the advantages of using a special journal?

15
 Assessment

Directions: Identify what is described in each number. Write the letter of your answer
on a separate sheet of paper.

1. This is the book of original entry.

A. ledger C. subsidiary ledger
B. special journal D. general journal

2. This is the book of final entry.

A. general journal C. subsidiary ledger
B. general ledger D. special journals

3. This is used to record purchases on account.

A. sales journal C. general journal
B. purchase journal D. cash receipts journal

4. This is used to record sales on credit.

A. cash disbursement journal C. sales journal
B. purchase journal D. ledger

5. This is used to record cash receipts.

A. ledger C. cash disbursement journal
B. cash receipts journal D. journal

6. This is used to record cash payments.

A. cash disbursement journal C. purchase journal
B. cash receipts journal D. sales journal

7. This contains the details supporting the balance in the general ledger account.
A. general ledger C. ledger
B. subsidiary ledger D. none of the above

8. This is also known as the controlling account.

A. cash receipts journal C. accounts receivable
B. notes payable D. general ledger

9. This type of entry involves only two accounts: one debit and one credit.
A. compound entry C. simple entry
B. dual entry D. jumbled entry

10. It is an entry that requires three or more accounts.

A. compound entry C. simple entry
B. dual entry D. jumbled entry

11. This type of special journal makes use of official receipts issued by companies.
A. cash disbursement C. purchase journal
B. cash receipts D. sales journal

16
12. This is the type of special journal makes use of sales invoices issued by companies.
A. purchase journal C. cash receipt journal
B. sales journal D. cash disbursement journal

13. This is the type of special journal where sales invoice from a supplier may be found.
A. sales journal C. cash receipt journal
B. purchase journal D. cash disbursement journal

14. This is the type of special journal where official receipts from suppliers as proof of
payment may be found.
A. cash disbursement journal C. purchase journal
B. cash receipt journal D. sales journal

15. A cash disbursement journal or cash payments journal is not used to record this
transaction.
A. purchase of merchandise for cash C. all cash received

B. purchase of merchandise on D. payment to creditors and

account suppliers

Additional Activities

Directions: The following are transactions from Marvin Hernandez’s book of account.
Decide which journal to use in each of the given transactions. Write the
letters of your answer on the separate sheet of paper.

A. Cash Receipts Journal

B. Cash Disbursement Journal
C. General Journal
D. Sales Journal
E. Purchase Journal

1. Collected Php10,000.00 from a customer in payment of his account

2. Bought 100 pieces of mugs to be sold in the store amounting to
Php1,500.00 on credit
3. Sold five pieces of mugs to Mr. X, Php 320.00 cash
4. Sold two pieces of mugs to Mr. Y, Php 112.00 cash
5. Purchased office supplies for cash, Php 500.00
6. Paid Php 20,000.00 monthly rental
7. Paid salary of staff, Php15,000.00.
8. Sold 100 pieces of mugs to Cuppy, Inc., Php 5,600.00 on account
9. Sold 500 pieces of mugs to Muggy Corp. for Php 15,300.00 payable
one month after delivery
10. Purchased on account 1,000 pieces of mugs for Php12,400.00

17
 18
What I Have Learned
1. Journalizing
2. Compound Entry
What I know: 3. Simple entry
1. B 4. Cash Receipts Journal
2. A 5. Cash disbursement Journal
3. C 6. Ledger
4. E 7. General ledger
5. D 8. Subsidiary ledger
9. Purchase Journal
10. Special Journal
11. Communicating
What’s In: 12. Chronological
1. Liabilities 13. Special Journal
2. Chart of Accounts 14. Description Column
3. Assets 15. Date
4. Owner's Equity
5. Cash What I Can Do:
6. Notes Receivable Answers may vary
7. Non-Current Asset
8. Notes Payable
9. Capital
Assessment
10. Prepaid Expenses 1. D
2. B
3. B
What’s New: 4. C
1. F 5. B
2. F 6. A
3. F 7. B
4. T 8. D
5. F 9. C
6. F 10. A
7. T 11. B
8. T 12. B
9. F 13. B
10. T 14. A
15. C
What's More
Additional Activities:
1. General Journal 1. A
2. Sales Journal 2. E
3. Purchase Journal 3. A
4. Cash Receipts Journal 4. A
5. Cash Disbursement Journal 5. B
6. Cash Disbursement Journal 6. B
7. Cash Receipts Journal 7. B
8. Purchase Journal 8. D
9. Sales Journal 9. D
10. General Journal 10. E
Answer Key
References

Anastacio, Ma. Flordeliza. Fundamentals of Financial Management (with Industry Based

Perspective).( Manila: Rex Book Store, 2011).

Gilbertson, Claudia. Fundamentals of Accounting. 8th ed. (Australia: Cengage Learning, 2010).

Padillo, Nicanor, Jr. Financial Statements Preparation, Analysis and Interpretation. (Manila: GIC
Enterprises, 2011).

Pefianco, Erlinda C. The Accounting Process: Principles and Problems. (Makati: Goodwill Trading,
1996).

Young, Felina C. Principles of Marketing. (Manila: Rex Book Store, 2008).

Teaching Guide for Senior High School, Fundamentals of Accountancy, Business and Management 1.
(Quezon City: Commission on Higher Education, 2016).

IMAGE SOURCE/s:

Bitmoji app

https://www.double-entry-bookkeeping.com/wp-content/uploads/general-ledger-sheet-v-1.0.jpg

https://i.ytimg.com/vi/JRg2CMJZOoM/hqdefault.jpg

https://basicaccountinghelp.com/wp-content/uploads/2018/02/What-is-a-T-account.jpg

19
For inquiries or feedback, please write or call:

Department of Education – Region III,

Schools Division of Bataan - Curriculum Implementation Division
Learning Resources Management and Development Section (LRMDS)

Provincial Capitol Compound, Balanga City, Bataan

Telefax: (047) 237-2102

Email Address: [email protected]