Laiza Cristella J.

Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
Test 1
1. M.
2. Consumption
3. K.
4. B.
5. Accounts receivable
6. R.
7. J.
8. L.
9. F.
10. Q.
11. G.
12. Income statement
13. Net Book Value
14. J.
15. H.
16. Notes Receivable
17. Contra Asset
18. P,
19. O.
20. F.
Test 2
1. Financial statement
2. Cash Flow from Operating Activities
3. Equity
4. Expenses
5. Revenue
Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
6. Liabilities
7. Income statement
8. Statement of cash flows
9. Revenue
10. Asset
11. Cash flows
12. Asset
13. Liabilities
14. Expense
15. Cash flow from investing activities
16. Cash flow statement
17. Balance sheet
18. Statement of financing position

Test 3 True or False

True 1. True 11.

False 2. False 12.

True 3. False 13.

True 4. False 14.

True 5. False 15.

True 6. False 16.

True 7. True 17.

True 8. False 18.

True 9. True 19.

True 10. True 20.

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
Test 4
1. B 6. E
2. B 7. B
3. A 8. B
4. C 9. C
5. C 10. A

Test 5
1. Inv 26. Inv
2 OP 27. Fin
3. OP 28. Inv
4. Inv 29. Fin
5. OP 30. OP
6. Inv
7. Inv
8. Fin
9. NOT
10. OP
11. Inv
12. Inv
13. Fin
14. Fin
15. NOT
16. OP
17. NOT
18. OP
19. Inv
20. Inv
21. OP
22. Inv
23. OP
24. Inv
25. OP
Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
Test 6
Case Assets Liabilities Owner's Equity
1 ₱1,490,000 ₱990,000 ₱500,000
2 110,000 60,000 50,000
3 5,180,000 3,000,000 2,180,000
4 1,740,000 900,000 840,000
5 512,500 114,110 398,390
6 2,870,000 1,671,550 1,198,450
7 466,280 221,125 245,155
8 671,200 425,200 246,000
9 1,163,000 364,000 799,000
10 1,025,177 650,044 375,133

Test 7
1. 315,000
2. 240,000
3. 301,000
4. 1,317,600
5. 18,000
6. 150,000
7. 1,081,000
8. 494,000
9. 504,000
10. 111,000

Test 8
1. 250,000 ÷ 40% = 625,000
625,000 – 250,000 = 375,000

2. 4,800 – 2,945,000 = 1,805,000

3. 3,200,000 – 1,888,000 =1,312,000

4. 960,000 – 960,000 = 0
Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
5. 169,000 + 284,000 =453,000

6. 686,000 + 225,000 = 461,000

7. 550,000 – 550,000 = 0

8. 600,000 x 1/3 = 200,000

200,000 x 2 = 400,000

9. 800,000 ÷ 40% = 2,000,000

2,000,000 – 800,000 = 1,200,000

10. 750,000 x 120% = 900,000

900,000 x 180% = 1,620,000

IX.
Stay Healthy Medical Clinic
Owner’s equity statement
For year ended December 31, 2012

December 31, 2011 owner's equity ₱1, 1,280,000

Add: December 31, 2012 owner's equity ₱1,520,000

Total ₱2,800,000

Less: Owner Withdrew ( ₱210,000)

Net Income ₱2,390,000

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1

IX.
Stay Healthy Medical Clinic Owner’s equity statement

For year ended December 31, 2012

December 31, 2012 owner's equity ₱1,520,000

Add: Owner Withdrew ₱210,000

Total ₱1,730,000

Less: December 31, 2011 owner's equity (₱1,280,000)

Net Income ₱450,000

X.
Mighty Minds Tutorial Center Owner’s equity statement

For year ended December 31, 2012

December 31, 2012 owner's equity ₱1,976,000

Add: Owner Withdrew ₱273,000

Total ₱2,249,000

Less: December 31, 2011 owner's equity (₱1,664,000)

Net Income ₱585,000

XI.
The Little Tike's Tutorial Services

For the year ended December 2012

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
Ms. Jean Beginning balance ₱301,000

Add: Net Income ₱96,000

Total ₱397,000

Less: Ms. Jean withdrew ( ₱18,900)

Ms. Jean Capital, December 2012 ₱378,100

XII.
Ms. Jean Statements of Changes in Equity

For the period ended December 31, 2012

Ms. Jean Beginning balance ₱301,000

Add: Investment by Owner ₱30,000

Total ₱331,000

Less: Net loss ( ₱28,000)

Ms. Jean, Capital, December 31, 2012 ₱303,000

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
XIII.
Jupiter Spa Statements of Changes in Equity

For the period ended December 31, 2012

Mr. Joe, Beginning Balance, January 1, 2012 ₱391,300

Less: Net loss (₱124,800)

Withdrawals by Owner (₱24,570)

Mr. Joe Capital, December 31,2012 ₱241,930

XIV.
Mr. Joe Statements of Changes in Equity

For the period ended December 31, 2012

Mr. Joe, Beginning Balance, January 1, 2012 ₱391,300

Add: Net Income ₱36,400

Investment by Owner ₱30,000

Total ₱457,700

Less: Withdrawals by Owner (₱5,000)

Mr. Joe, Capital, December 31, 2012 ₱452,700

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
XV.
Mr. Joey Lao Statements of Changes in Equity

For the period ended December 31, 2013

Mr. Joe, Capital, January 1, 2013 ₱120,000

Add: Net Income ₱100,000

Investment by Owner ₱40,000

Total ₱260,000

Less: Withdrawal by Owner (₱80,000)

Mr. Joe, Capital, December 31, 2013 ₱180,000

XVI.
Floring's Bake Shop Statements of Changes in Equity

For the period ended December 31, 2012

Floring, Capital, January 1, 2012 ₱156,000

Add: Investment by Owner ₱52,000

Total ₱208,000

Less: Net Loss (₱3,000)

Withdrawal by Owner (₱104,000)

Floring, Capital, December 31, 2012 ₱101,000

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
XVII.
Flora Statements of Changes in Equity
For the period ended December 31, 2012
Floring, Capital, January 1, 2012 ₱156,000

Add: Investment by Owner ₱207,000

Total ₱363,000

Less: Net Loss (₱3,000)

Withdrawal by Owner (₱259,000)

Floring, Capital, December 31, 2012 ₱101,000

Net Loss= Total Revenue - Total Expenses

Total Expenses= Net Loss - Total Revenue

120,000 + 3,000= 117,000

Expenses of the year is ₱117,000

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
XVIII.
Floring's Bake Shop Statements of Changes in Equity
For the period ended December 31, 2012
Floring, Capital, January 1, 2012 ₱156,000

Add: Investment by Owner ₱52,000

Total ₱208,000

Less: Net Loss (₱3,000)

Withdrawal by Owner (₱104,000)

Floring, Capital, December 31, 2012 ₱101,000

Net Loss= Total Revenue + Total Expenses

Total Revenue = Net Loss + Total Expenses

110,000 + 68,000= 178,000

Revenue of the year is ₱178,000

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
XIX.
Total Expenses= 75,000 + 90,000 + 120,000 + 900,000

Total Expenses= 1,185,000= Net Loss

Add: Investment by Owner ₱100,000

Less: Net Loss (₱1,185,000)

Withdrawal by Owner (₱220,000)

Total Owner, Capital (₱1,305,000)= Net decrease

XX.
Total Revenue= ₱580,000

Total Expenses= ₱495,000

Net Income/Loss= Total Revenue - Total Expenses

Net Income/Loss= ₱580,000 - ₱495,000

Net Income= ₱85,000

Add: Net Income ₱85,000

Investment by Owner ₱80,000

Total ₱165,000

Less: Withdrawal by Owner (₱150,000)

Total Owner, Capital ₱15,000= Net Increase

Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1
XXI. Compute for the missing figure in each of the following independent cases.

A B C D
Owner's Equity, ₱50,000 ₱200,000 ₱30,000 ₱80,000
Jan1
Additional 25,000 120,000 15,000 40,000
Investment
Withdrawal 5,000 60,000 3,000 8,000
Revenue 20,000 140,000 12,000 32,000
Expenses 10,000 100,000 6,000 16,000
Owner's Equity, ₱80,000 ₱300,000 ₱48,000 128,000
Dec 31
Laiza Cristella J. Saray ACTIVITY 2
BSA – 2 Essentials of Accounting 1

XXII. Compute the missing figure in each of the following independent cases.

A B C D
Owner's Equity, ₱65,000 ₱386,000 ₱39,000 ₱104,000
Jan 1
Additional 58,500 78,000 3,900 10,300
Investment
Withdrawal 32,500 156,000 19,500 ?
Revenue 26,000 182,000 36,800 41,500
Expenses 13,000 130,000 7,800 20,800
Owner's Equity, ₱104,000 ₱360,000 ₱52.400 ₱166,400
Dec 31