Rendered special voice lessons services to ChadcePempengco. P 10 000 on terms 20% down
payment, a non-interest bearing note for P 3, 000, and the balance on account. ~ v
Rachel Gabreza withdrew permanently cash from the business ambunting to P_ 50, 000
A Assets, beginning
Lees: Total Liabilities, Beginning
Owners Equity Beginning
Total Assets, and - ,
_ Less: Total Liabilities,end '
_ Owners Equity, end '
Owners Equity, and. .
Add: Withdrawal of cash
Withdrawal of supplies
Less: Additional investment of
r. TRUE on FALSE
DLSU Accounting Pool 2016
ACTBAS3 Finals Reviewer Questions
TERM 3 AY 2015-2016
A corporation is an articial being created by the agreement of the incorporators.
2. Provisions on corporations can be totind in the Corporation Code of
> Payment on purchase of We and Fixtures
Proceeds from Long Temt Notes Payable
" Purchase of supplies
Sale of old service Vehicles
WlthdraWal made by Be F'os_l_tlve
Prepare the following for BE POSITIVE SOLUTIONS
TRUE OR FALSE
2. Bookkeeping provides a vital source in supplying information to decision-makers who willrmake decisions for the conduct of
business and its various economicYactlvities. g - ' -
3. The "Capital" account is used when the owner with
Proceeds from Sale of Land 9 . .
. , Net cash used by rnvestmgactlvities . _ P 21.000
2 Cash ows from nancing activites . . ~
Dividends Received _ _ . P 2.100
W of Bond lndenture _ 40,000
Ki, Owing - ' 15.9001 . '
Net cash from nancing activities _
DLSU Accounting Pool 2016
ACTBAS3 Finals Answer Key
TERM 3 AY 2015-2016
1. True or False
1. False. Formation of a corporation requires certain legalities, including the approval of the SEC.
False. Shares of stock can be transferred even withou
15. The denominator to be used in order to compute the book value per share is:
a. Total number of shares issued
b. Total number of shares outstanding
0. Average shares issued
d. Average shares outstanding
16. The basic earnings per share of inside Out Co
Prof. Melvin V. Moraga
Ramon del Rosario College of Business Administration
A.Y. 2016 2017
I Prof. Melvin Vitug Moraga
So, what is
Article Review Format
III. Identify the article
V. Article Summary
I. Create a title
This title should reflect the focus of your
review. Decide between a declarative title,
DE LA SALLE UNIVERSITY
COLLEGE: Ramon V. Del Rosario College of Business
COURSE CODE: OPEMANA
CLASS DAYS AND CLASS TIME:
INSTRUCTOR: Prof. MELVIN VITUG MORAGA
This course (OPEMA
5 A pa I ris an agent or a partnership. However, do not act as an agent of a corporation.
, ~ ' Stockholders -
6. Corporation comes to existence' In operation of the law; thus, it could also cease at any time by leg
Answer: 0, the subscription from Huskar has been fully collected which will result to the issuance of share certicate.
The issuance of share certicate will have the following entry:
Subscribed Share Capital 500,000
Share Capital 500,000
This will resul
Rate and Time factor _
Interest expense recorded
Total Potential Interest Income
income already recorded in the previous fiscal year
Interest income recorded
Interest Income of note, 2013
Divide: Time Factor ' '
Jo? Wilton EVents'Omanizer Co. had the following cash transactions forthe period ending Julie 30. 212 ' . '
Cash receipt from sale ofold tools and equipment , '
Cash payment g purchase of office suppiies
"SimpliesPavabiidiisiii years - -
comes to an end, he realizes the need to organize the necessary information in order to aid the preparation of the financial,
statements. How much is the net interest income (expense) of Mr. Wu Tang?
5Q MachIYnna started her own business on January
2. Jah'rakal bought 10,000 shares at par ,
3. Huskar subscribed to 5,000 shares at P130 per share
4. Received 25% on the subscription above
5. Jin'zak bought 5,000 shares in exchange for an equipment with a fair value of P620, 000
6. Collected P487500 fr
'14. Office supplies were sold by J's Appliance Repair at cost to another repair shop,
15. Prior to the adjusting precess. accrued expenses have
for Js Appliance Repair records this transaction? .
A" Accounts Payable, debit, OfficeSupplIes, credit . . _ '
X Corporation had the following equity structure as of December 31, 2014.
8% preference share, P10 par value, cumulative and participating, 250, 000 shares issued and outstanding
Subscribed preference share, P125,000
Subscription receivable- Pre
PROBLEM 15 ,
The following data have been extracted from the nancial statements of LMC Company.
Nencome W , E
gprererence stock-6% - 3000 000'w 3000 000;
.2376 000 2376000
>Common stock- par value P15 3 W.- .
Compute for the earnings per share of the
V Ki Spa Service Center _
Statement of Changes in Owners Equity
For the Year Ending December 31, 2016
Ki, Capital- Januar'yi .- . , .P 198,250
Add: Net income ' m
Sub-total . . - _ 'P 808.750
Less: Ki. Drawing ' ' _._.(.le
KT, Capital - December 31 p m
D. Decrease Liabilities .
5. On June 10, Acme Co. issued an P80. 050 6% 120 day note payable to Still Co. What is the due date of the note?
A. October7 . . , on
e. October8 s it .\
c. OctoberQ , _ . . i f if
D. October10 , ' f 30
6. The evolution of
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What is Collaborative Learning
Understanding the Marketplace
and Customer Needs
Collaborative Learning Station (CLS)
1. It is a learning group compose of eight to nine memberlearners created to perform task assigned by the instr
Case Analysis Rubric
(accurate/complete but focus
on separate points rather than
integrating or discussing the
(complete, thorough, articulate,
EXERCISE 1-1 TRUE OR FALSE
An individual must contribute capital to become a partner in a firm.
No entry is necessary to record the investment of an industrial partner.
A partnership should be registered with the Securities and Exchange Co