AGAPE SCHOOL

Of the City Alliance Evangelical Church CAMACOP Inc.

#21 Japal Guiani Street Cotabato City

3rd Prelim Examination

Basic Accounting-Grade IX
November 22, 2016

General Instruction: This examination is good for one(1) hour only. Strictly NO ERASURE and
AVOID CHEATING. Any correction made must be in this form, ex: dog

I. IDENTIFICATION
Instruction: Identify the normal balance of each account whether Debit or Credit and on the next
column determine if it is an Asset, Liability, Capital, Income or Expense.

1. Cash on Hand
2. Inventory
3. Accounts Payable
4. Notes Receivable
5. Depreciation Expense
6. Salaries and Wages
7. Light, Heat and Water
8. Cash in Bank
9. Rent Expense
10. Mortgage Payable
11. Loans Payable
12. Bad debts expense
13. Prepaid Salaries
14. Machineries and Equipment
15. Land
16. Prepaid Rentals
17. Doubtful Accounts Expense
18.

II. Solving

Feb. 1 J. Cruz, invested for cash in the business ₱150,000 and his partner R.Yu invested
an equipment of ₱200,000
2 Bought computers from X Co. on credit, ₱100,000
3 Bought Office Supplies for cash, ₱62,000
5 Paid X Co. partially, ₱60,000
10 Received a bank loan for business use, ₱100,000
14 Customers paid cash for Computer Services rendered, ₱25,000
16 Service rendered on account, ₱50,000
17 Paid a month’s rentals, ₱10,000
21 Made partial collections from customers’ accounts, ₱30,000
22 Paid salaries of employees, ₱15,000
24 Billed a customer for service rendered, ₱6,000 the amount of ₱2,000 was
partially collected
26 Shop supplies purchased ₱15,000
28 J. Cruz made withdrawal, ₱5,000
The high road is always respected.
Honesty and integrity are always rewarded.
Scott Hamilton
 AGAPE SCHOOL
Of the City Alliance Evangelical Church CAMACOP Inc.
#21 Japal Guiani Street Cotabato City

Prepare Journal Entries for the following transactions, minimize your corrections

3rd Prelim Examination

Basic Accounting-Grade IX
November 22, 2016

Name: _________________________________________ Score:_____________

Instruction: Identify the normal balance of each account whether Debit or Credit and on the next
column determine if it is an Asset, Liability, Capital, Income or Expense.

Debit/Credit Asset/Liability/Capital/Income/Expense
1. ____________ ______________
2. ____________ ______________
3. ____________ ______________
4. ____________ ______________
5. ____________ ______________
6. ____________ ______________
7. ____________ ______________
8. ____________ ______________
9. ____________ ______________
10. ____________ ______________
11. ____________ ______________
12. ____________ ______________
13. ____________ ______________
14. ____________ ______________
15. ____________ ______________

Continue the Part II in a journal paper