Accounting Principles and Special Journals

ST. PETER VELLE TECHNICAL TRAINING CENTER INC.
✉No. 92 P. Mc Arthur Hi-way., Marulas, Valenzuela City

Email Add: stpetervelle2003@yahoo.com.ph
☎Office Tel no.: 709-6283/366-5576
LESSON PLAN
The learners demonstrate an understanding of definition, nature,

Content Standards
function and history of accounting
The learners shall be able to Cite specific examples in which
Performance Standards
accounting are used in making business decisions.
Code
ABM_FABM11-111a-1
I. OBJECTIVES
a. Define what is accounting and discuss it.
b. List importance of Accounting in our lives.
c. Connect and Relate accounting in our day to day transactions.
II. SUBJECT MATTER

Content: Introduction to accounting
Materials: Laptop, overhead projector, manila paper and pentel pen
III. PROCEDURE
A. Preliminaries
1. Opening Prayer
2. Checking of Attendance
3. Setting of classroom standards
B. Lesson Proper
B.1 Motivation
Present to the class a variety of pictures related to accounting “what can you
say about the picture”?
Activity
Web Framework: Group
the learners into 4 Groups. Each group will be given a manila paper. They will
make a description what accounting is in one word and write the word on the
manila paper. Each group should atleast have 4 descriptions. They will post
the output on the board. This activity is good for 5 minutes.
B.2 Analysis
a. How did you find the activity?
b. How did you come up with your own definition of accounting?
c. what were the factors you considered why you arrived on that definition?
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B.3 Abstraction
Define accounting and discuss it.
The art of recording, classifying, and summarizing in a significant manner
and in terms of money, transactions and events which are, in part at least
of financial character, and interpreting the results thereof.
a. Discuss how accounting is connected and related with our day to day
living and the importance of it.
a. Ask probing questions (simple cases like buying merienda, paying
small debts to friends, paying fare to tricycle)
b. Elaborate further the sub meaning of accounting (recording, classifying,
summarizing and interpreting)
c. Educate the learners what life would be without accounting.
a. What will happen to mankind without accounting?
b. What will happen to business entities if they don’t use accounting?
B.4 Application
Role playing. Group the class into four. 2 groups will act out life without
accounting the other 2 groups will act out life with accounting. 3 minutes
preparation and 2 minutes presentation. This activity will take 11 minutes.
Rubrics
Group Content 50 % Creativity 50 % Total 100 %

The value of The presentation
accounting is was artistically
clearly depicted in done
the presentation
IV. EVALUATION:
Short quiz.
1. What is accounting?
2. List 2 importance of accounting
3. Site 2 examples of your daily activity that can relate or connect to
accounting?
V. ASSIGNMENT
a. Describe the nature of accounting
b. Make 2 paragraph of the importance of accounting.
Prepared by: Observed by:

______________________
ACE T. BAUTISTA ______________________
Demonstrator ______________________
______________________
Noted by:
ARTURO D. TINGSON, JR.
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Regional Education Program Supervisor- LRMDS
LESSON PLAN
Content Standards The learners demonstrate an understanding of…the definition,

nature, function, and history of accounting
Performance Standards The learners shall be able to… cite specific examples in which
accounting is used in making business decisions
CODE ABM_FABM11-IIIa-2
I. OBJECTIVES
 To describe the nature of Accounting.
 To cite specific examples of activities involving:
RECORDING
CLASSIFYING
SUMMARIZING
INTERPRETING
II. SUBJECT MATTER

 Introduction to Accounting
A. Author: Rafael M. Lopez
B. Instructional Materials; Laptop -Power Point Presentation / Manila paper,
Flash drive.
III. PROCEDURE
A. Prayer
B. Greetings
C. Checking of Attendance
D. Classroom Standards
E. Review of the related literature
F. Motivation: “valuing” Teacher cites an example that involves
RECORDING, SUMMARIZING, CLASSIFYING and INTERPRETING in
any ways.
Example: Tell a story about elections, there is canvassing of votes then
classifying of positions-local/national, summarizing of results per area and
interpreting the results to declare the elected winner.
G. Presentation of the SUBJECT MATTER
H. Drill: unlocking of terminologies (class activity-1) flash-card – show a
flashcard that shows Service concern, Merchandising and Manufacturing
for them to identify these as Nature of Business then show a picture of
something writing, encoding or solving to come up with Nature of
Accounting
I. Lesson Proper:
NATURE OF ACCOUNTING IS:
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recording transactions, classifying accounts, summarizing data and

interpreting results.
ACTIVITY - (Journalizing of transactions in the special journals, The Journal

Book, Revenue Book, Cash Receipts Books, Cash Disbursement Book)
JOURNAL-Group1 CASH RECEIPTS-Group3
REVENUE-Group2 CASH DISBURSEMENT-Group4
ANALYSIS: Show a sample of Trial Balance to analyze the transaction

ABSTRACTION: Recapitulate the learnings from the lesson given.
APPLICATION: Source documents as basis of recording to special
journals
Official Receipt-Cash Receipts Books
Statement of Bills/Receivables-Revenue
Disbursement Voucher/Check Book-Cash Disbursement Book
Accruals/Adjustments-Journal Book
IV. EVALUATION/ASSESSMENT
Will conduct a MULTIPLE CHOICE and TRUE or FALSE Quiz to the class based
on the nature of accounting and special journals.
1. Which special journal does collection of Receivable be recorded?

A) Journal B) Cash Receipts C) Revenue D) Cash Disbursement
2. Sales or Income is also called as?

A) Disbursement B) Revenue C) Receipts D) Withdrawals
3. This special journal can still accommodate entries of transactions if their

respective books are already closed., also referred to as dumping place.
A) Cash Disbursement B) Cash Receipts C) Revenue D) Journal
4. Journal Entry is recordable only in the Journal Book-FALSE

5. Classifying means sorting, segregating to their major account group-TRUE
6. The results of business operations interprets the financial condition of an
entity-TRUE
V. ASSIGNMENT:
Answer the question in ½ crosswise. Explain briefly
Why is it that separate special journals provided by other business entities?
LESSON PLAN
Content Standards The learners demonstrate an understanding of…the definition,

Performance Standards The learners shall be able to… cite specific examples in which
accounting is used in making business decisions
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CODE ABM_FABM11-IIIa-3
VI. OBJECTIVES
 Explain the functions of accounting in business
VII. SUBJECT MATTER

 Introduction to Accounting
C. Author: Rafael M. Lopez
D. Instructional Materials; Laptop -Power Point Presentation / Manila paper,
VIII. PROCEDURE
J. Prayer
K. Greetings
L. Checking of Attendance
M. Classroom Standards
N. Review of the related literature
O. Motivation: “valuing” Teacher cites an example that involves
RECORDING, SUMMARIZING, CLASSIFYING and INTERPRETING in
any ways.
Example: Tell a story about elections, there is canvassing of votes then
classifying of positions-local/national, summarizing of results per area and
interpreting the results to declare the elected winner.
P. Presentation of the SUBJECT MATTER
Q. Drill: unlocking of terminologies (class activity-1) flash-card – show a
flashcard that shows Service concern, Merchandising and Manufacturing
for them to identify these as Nature of Business then show a picture of
something writing, encoding or solving to come up with Nature of
Accounting
R. Lesson Proper:
NATURE OF ACCOUNTING IS:
recording transactions, classifying accounts, summarizing data and
interpreting results.
ACTIVITY - (Journalizing of transactions in the special journals, The Journal

Book, Revenue Book, Cash Receipts Books, Cash Disbursement Book)
JOURNAL-Group1 CASH RECEIPTS-Group3
REVENUE-Group2 CASH DISBURSEMENT-Group4
ANALYSIS: Show a sample of Trial Balance to analyze the transaction

ABSTRACTION: Recapitulate the learnings from the lesson given.
APPLICATION: Source documents as basis of recording to special
journals
Official Receipt-Cash Receipts Books
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Statement of Bills/Receivables-Revenue
Disbursement Voucher/Check Book-Cash Disbursement Book
Accruals/Adjustments-Journal Book
IX. EVALUATION/ASSESSMENT
Will conduct a MULTIPLE CHOICE and TRUE or FALSE Quiz to the class based
on the nature of accounting and special journals.
7. Which special journal does collection of Receivable be recorded?

B) Journal B) Cash Receipts C) Revenue D) Cash Disbursement
8. Sales or Income is also called as?

B) Disbursement B) Revenue C) Receipts D) Withdrawals
9. This special journal can still accommodate entries of transactions if their

respective books are already closed., also referred to as dumping place.
B) Cash Disbursement B) Cash Receipts C) Revenue D) Journal
10. Journal Entry is recordable only in the Journal Book-FALSE

11. Classifying means sorting, segregating to their major account group-TRUE
12. The results of business operations interprets the financial condition of an
entity-TRUE
X. ASSIGNMENT:
Answer the question in ½ crosswise. Explain briefly
Why is it that separate special journals provided by other business entities?
LESSON PLAN
Content Standards The learners demonstrate an understanding of the definition,

Performance Standards The learners shall be able to cite specific examples in which
accounting is used in making business
decisions.
Code ABM_FABM11-IIIa-4
I. Objectives
1. Discuss the history/origin of accounting.
2. Create a timeline of the history of accounting.
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II. Subject Matter
Topic: Introduction of Accounting

References: Accounting 1 Sole Proprietorship by Rafael M. Lopez
Materials: Flashcard, multi-media (ppt.presentation)
III. Procedure
A. Preliminary Activities
1. Prayer The teacher will lead the prayer.

2. Greetings The teacher will greet the class.
3. Classroom Management The teacher will tell the class about the house
rules
4. Checking of attendance The teacher will check the attendance
5. Recall The teacher will review the class of their idea
about accounting.
6. Motivation The students will be shown with different
pictures
and will be asked by the following questions:
1. What is common between the pictures?

2. Can anyone arrange the picture according to the
era they existed and to post it on the board?
B. Activity The students will attach the pictures right on the

picture posted on the board.
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C. Analysis The students will give their ideas on how they

arrived on their task.
D. Abstraction The teacher will now give the lesson proper.
E. Application The students will be grouped and tasked to
draw symbols that signify time or era and
arrange the symbols to create a timeline of
history of the accounting.
Rubrics For The Symbols
Criteria 3 points 5 points

On task. Time is utilized
well and focus on task.
Composition. The
symblols elements are
balanced and work well
together.
Creativity. The symbols
are unique and show
own ideas and creativity.
Work Quality. The
symbol is carefully made
and they paid attention
on details.
F. Evaluation The teacher will give a quiz to determine the

students’ comprehension of the topic.
Quiz
1. On what civilization did accounting closely related to writing, counting, and
money?
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2. Who is the person to publish a work on double-entry bookkeeping?

3. What civilization did auditing system was observed?
G. Assignment The teacher will give the assignment.
Content Standard: The learners demonstrate an understanding of the varied

branches and areas of accounting, particularly 1. financial
accounting, 2. management accounting, 3. government
accounting, 4. auditing, 5. tax accounting, 6. cost accounting,
7. accounting education, and accounting research.
Performance Standard: The learners shall be able to make a list of business within the
community on the types of accounting services they require,
and solve exercises in the identification of the branches of
accounting described through the types of services rendered.
Code: ABM_FABM11-IIIa-5
I. Learning Competencies/Objective
1. Identify the branches of accounting
2. Differentiate the branches of accounting
II. Subject Matter

Topic: Branches of Accounting
Reference: Fundamental of Accounting
Author: Claudia Gilbertson
Materials: projector, pictures, cartolina, marker
III. Learning Procedure

A. Preliminaries
1. Prayer
2. Greetings
4. Classroom Standards
5. Review of the previous lesson
a. What is accounting?
b. Why is accounting important to our daily lives?
B. Lesson Proper
B.1. Motivation
The students will find the words in a crossword puzzle.
B.2. Activity
The teacher will divide the class into five groups and give the puzzle-like
cardboard for them to solve.
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The teacher will be having an audio-visual presentation and let the students
take notes all their observation and important details.
Follow-up questions after the viewing:
1. What are the insights you learned from the presentation?
2. Are these insights affect your daily lives? How?
3. Do you have any idea about the topic to be discussed today?
B.3. Analysis
The teachers will relate the activity to the topic and discuss it further.
B.4. Abstraction
1. What are the branches of accounting?
2. How important are these branches of accounting to your daily lives?
3. Why do we need to know about these branches of accounting?
B.5. Application
1. Students will be divided into two groups.
2. Each group will identify the following words or phrases to what branch of
accounting they belong. (Worksheet will be provided for each group)
3. Assigned a reporter for the group will present and discuss their output.
IV. Evaluation
Write the letter of the correct answer.
1. It is a branch of accounting that produces annual reports for external stakeholders.

a. Auditing
b. Cost Accounting
c. Financial Accounting
d. Government Accounting
2. A type of accounting that aims to capture a company’s cost of production by

assessing the input cost.
a. Cost Accounting
b. Government Accounting
c. Tax Accounting
d. Financial Accounting
3. An official examination and verification of accounts and records.

a. Auditing
b. Management Accounting
c. Tax Accounting
d. Cost Accounting
4. A branch of accounting that encompasses a broad range of research areas including

financial accounting, management accounting, auditing and taxation.
a. Accounting Education
b. Accounting Research
c. Auditing
d. Management Accounting
V. Assignment
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Make a list of business for each branch of accounting within the community on the
types of accounting services they require.
LESSON PLAN
Content Standard The learners demonstrate an understanding of the varied

branches and areas of accounting particularly financial
accounting, management accounting, government accounting,
auditing, tax accounting, cost accounting, accounting education
and accounting research
Performance Standard The learners shall be able to make a list of businesses within the
community on the types of accounting services they require and
solve exercises in the identification of the branches of accounting
described through the types of services rendered.
Code ABM_FABM11-IIIa-6
I. Learning Competency/Objective
1. Explain the kind/type of services rendered in each of the branches of accounting
II. Subject Matter
Topic: Types/Kinds of services Rendered in Each of the Branches of Accounting

Reference: Fundamentals of Accounting, Business and Management 1 (1sted.)
Author: Joselito, G. Florendo
Materials: Laptop, Projector, Manila paper, marker
III. Learning Procedures

A. Preliminaries
1. Seeing to it that the classroom/class is clean and in order
2. Prayer
3. Checking of attendance
4. Overview of previous lesson
We have just learned the different branches of accounting.
B. Lesson Proper
B.1. Activity/Motivation
The class will be shown a video of a story of very successful business.
The students will be asked the following questions:
i. How did we whether or not a business is successful?
ii. Is the knowledge of financial capacity/status of a business one
of the important factors for the success of the business?
B.3. Analysis
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The teacher will give the final generalization of the activity and relate
the activity to the topic, and then discuss such topic further.
B.4. Abstraction
1. What are the services rendered in each branch of accounting?
2. What accounting service is most commonly used by internal users?
3. What accounting service is most commonly used by external users?
B.5. Application/Enrichment
The class will be divided into five (5) groups. Each group will be
assigned task as shown in the following:
Group Task
I Cite a hypothetical business and show its assets, capital and
liabilities.
II Cite a hypothetical business showingsales and expenses
III Cite a hypothetical business showing revenue, and compute
the income tax due
IV Cite a hypothetical business with prepared budget and actual
expense, and compare the budget and the actual result
V Propose a curriculum leading to the degree of bachelor of
Science in Accountancy (BSA)
IV. Evaluation
Identify which type/branch of accounting offers each of the following services.

Choose your answer from the table.
Financial Accounting Tax Accounting
Management Accounting Cost Accounting
Government Accounting Accounting Education
Auditing Accounting Research
____________ 1.Preparation of Financial Statement for internal users or external

users.
____________ 2. Educating students and other interested persons of the knowledge
of accountancy.
____________ 3.Preparation of cost of production and other costs reports.
____________ 4.Determination of the tax due.
____________ 5.Preparation of financial reports for use by managers of a company
or department head.
V. Assignment
Research and study about the limitations of the different branches of

accounting. After identifying the limitations of each branch of accounting,
explain how management can overcome these limitations. Write a one-page
paper about your research to be submitted to your teacher.
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LESSON PLAN
Content: Users of Accounting information
Content Standard: The external and internal users of financial information
Performance Standard: Cite users of financial information and identify whether they are
external or internal users.
Code: ABM_FABM11-IIIa-7to8
Preparatory Activities
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b.) Greetings
c.) Classroom management
d.) Checking of attendance
e.) Reviewing of previous lessons
Objectives:
At the end of the lesson the students are expected to:
1. Identify the users of financial information.
2. Define external and internal users and give examples.
Motivation:
The teacher will show the class two pictures and allow them to answer the following
questions:
1. What do you think are these pictures?

2. Who are the users of these picture?
Activity Proper:
Message Relay: The teacher will group the class into 5 and instruct them to assign a leader.
The leader from each team will gather the information and accurately relay a message back
and forth between team members as fast as possible. The following are the messages that
need to be perfectly relayed.
1. Management- for analyzing organization’s performance.
2. Employees- for future compensation and job security.
3. Owner’s- for profitability of their investment.
4. Government- to determine if the business paid appropriate taxes.
5. Lenders-to estimate if borrower can pay back all loan funds.
The first team, or the most accurate message, wins, and get 10 pts, second will get 8 points
3rd and the rest will get 7 points.
-After the activity proper, the teacher will let the class to watch a video regarding the “users
of accounting information”.
Analysis:
-Does the accounting information play an important role in decision making?
-Why companies are required to present financial information for the users?
Abstraction:
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The teacher will let the class to recapitulate the two types of financial users and randomly
ask them to provide an example for each type.
Application:
Amazing Race: From the same group, the teacher will let the class to identify and classify
the users of information if it belongs to INTERNAL or EXTERNAL users.
Evaluation:
Modified matching type:
Instruction: From the list of possible answers, write the letter that corresponds to
each of the given statement.
List of Possible answers:
a. Investors
b. Customers
c. Owners
d. Employees
e. Management
f. Lenders
g. External user
h. Internal user
Given Statement:
1. They are after the ability of the company to pay salaries and provide employee
benefits.
2. Bodies of the state, especially the tax authorities, are interested in an entity's
financial information for taxation and regulatory purposes.
3. financial institutions are interested in the company’s ability to pay liabilities
4. They need financial information to help them make decisions if the business is
profitable and whether to continue, improve or drop it.
5. They need information to assess the company's potential for success and
profitability of investment.
6. refers to managers/owners who use accounting information in making decision.
7.users that are not involved in company's operation but hold some financial interest.
Assignment:
In ½ sheet crosswise, research the following:
1. Provide examples of financial information needed by each group of users.
2. What are financial information needed by government agencies?
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LESSON PLAN
Content Standard: The various forms of business organization, as follows:

1.Sole/ single proprietorship
2.partnership
3.corporation
Performance Standard: Differentiate the forms of business organization in terms of
nature of ownership
Code: ABM_FABM11-IIIb-11
VI. Learning Competencies/Objectives:

1. Define the legal forms of business ownership: Sole Proprietorship, Partnership
and Corporation.
2. Discuss the legal forms of business organization (Sole Proprietorship,
Partnership and Corporation) through role playing.
VII. Subject Matter:

Topic: LEGAL FORMS OF BUSINESS OWNERHIP: SOLE PROPRIETORSHIP,
PARTNERSHIP AND CORPORATON
References: Technology and Livelihood Education
Basic Accounting 12th Edition, page 10
Partnership and Corporation Accounting 11th Edition, pages 1-2 , 1-17
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Authors: Jesus B. Nazareno, MDM

Rodolfo C. Sajorda
Rita de los Santos, et al
Materials: Marker, Carolina, Tape, Scissors, Pictures, Computer and Projector
VIII. Learning Procedure:

C. Preliminaries
6. Prayer
7. Greetings
D. Lesson Proper
B.1. Motivation
Let student think of different businesses that they have seen while roaming
around in town or cities
Unlocking of difficult words
a. SOLE PROPRIETORSHIP – this kind of business is owned by a single

owner.
b. PARTNERSHIP – this is a business owned and operated by partners of
two to four individuals.
c. CORPORATION – It is basically formed when five up to fifteen(5-15)
people decide to go into
business
B.2 - Activity:
Group activity : a. Divide the class into three groups.
b. Show pictures to students about the different formsof businesses.
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B.3- Analysis:
Direction:Identify and discuss which pictures are the sole proprietorship, partnership
and
corporation.
Questions:
1. What legal forms of business operates their own business?
2. What legal forms of business that 2 or more people agreed to own?
3. What legal forms of business that operates apart from its owner?
Let the representative of the group explain to the class the output of their activity.
B.4 - Abstraction:
a. Teacher will give some additional input about the lesson. ( Sole
proprietorship, partnership and corporation) – Slide show
b. Ask the students of what they have learned from the lesson.
B.5 - Application:
The teacher present some pictures and let the students to guess.
Ask question:
1.What forms of business in the picture presented and let the learner to explain.
IV – EVALUATION:
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Name:___________________________________________
Year & Section:_______________
Direction: Encircle the correct answer

1. What form of business ownership has the powers, attributes, and properties
expressly authorized by law or incident to its existence?
a. Partnership
b. Corporation
c. Sole Proprietorship
2. What is the difference between the sole proprietorship and partnership?

a. settling of obligations
b. dissolution
c. business for profit
3. What form of business ownership that business risks are shared many people?
a. Partnership
b. Corporation
c. Sole Proprietorship
4. In one sentence or give the importance of business.
V – ASSIGNMENT:
1. Choose one form of business ownership.
2. Give a name of a business that you know, that uses this type of business ownership.
3. Explain in your own way, the advantages of using this forms of business ownership in the
business.
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LESSON PLAN
(ABM_FABM11)
Content Standard: Accounting concepts and Principles
Performance Standard: Identify generally accepted Accounting Principle
Code: ABM_FABM11-IIIb-15
I. Learning Competencies/Objectives
a. Understand the Generally Accepted Accounting concepts and principles
b. Appreciate the importance of Accounting concepts and principles.
c. Identify Generally Accepted Accounting concepts and principles.
II. Subject Matter

Topic: Accounting Concepts and Principles
References: Basic Accounting for Non-Accountants, Basic Accounting:
Concepts, Principles, Procedure and Application.
Author: Rafael M. Lopez, Jr., Edwin G. Valencia and Gregorio F.
Roxas
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Materials: Laptops, Projectors, pictures, puzzle, meta cards, books,

whiteboard marker, whiteboard, pentel pen, cartolina
No. of Hours 1
Grade: 11
III. Instructional Procedure

 Prayer
 Greetings
 Roll Call
 Review
 Motivation - Cross Word Puzzle (good for 2minutes)
Instruction:
The student will find any words in the Puzzle
A. Activity
By the use of meta cards the students are instructed to choose the correct
answer given the different scenarios or cases.
Instruction:
1. The class will be divided into five groups
2. The group will be given a meta cards
3. The group will select a representative who will post the correct answer
written in the meta card and post on the board.
Scenario
a. The owner’s property should not be included in the premises
account of the business
b. The business will continue in operational existence for the
foreseeable future
c. All transactions of the business are recorded in terms of money
d. If a company adopts straight line method and should not be
changed to adopt reducing balance method in other period.
e. Revenues are recognized when they are earned, but not when
cash is received.
B. Analysis
Let us analyze what happened in your activity
1. In your own idea why is it that, the owner’s property should not be included in
the premises account of the business?
2. Why should the business will continue in operational existence for the
foreseeable future
3. What do you mean by Revenues are recognized when they are earned, but
not when cash is received.
C. Abstraction
1. What is Generally accepted
accounting Principle?
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2. What do you mean by generally

accepted?
3. What are the accounting concepts
and principles
a. Accounting Entity
b. Going Concern
c. Money Measurement
d. Accrual
e. Time Period
f. Consistency
D. Application.
Applying the concept the students will give the correct answer to the given
scenarios/scene.
1. The owner’s property should not be included in the premises account of the
business.
2. The business will continue in operational existence for the foreseeable future.
3. All transactions of the business are recorded in terms of money
4. If a company adopts straight line method and should not be changed to adopt
reducing balance method in other period.
5. Revenues are recognized when they are earned, but not when cash is
received.
IV. Evaluation (The Gigabites Quiz)

Instruction: Students will be given an 8 item multiple choice quiz about
Accounting principle and concepts. Read each question carefully and choose the
correct answer.
1. The personal assets of the owner of a company will not appear on the company's
balance sheet because of which principle/guideline?
a. Cost b. Economic Entity c. Monetary Unit
2. Which principle/guideline directs a company to show all the expenses related to its
revenues of a specified period even if the expenses were not paid in that period?
a. Cost b. Accrual/Matching c. Monetary Unit
3. Accountants might recognize losses but not gains in certain situations. For example,
the company might write-down the cost of inventory, but will not write-up the cost of
inventory. Which principle/guideline is associated with this action?
a. Conservatism b. Materiality c. Monetary Unit
4. Which principle/guideline requires the company's financial statements to have

footnotes containing information that is important to users of the financial
statements?
a. Conservatism b. Economic Entity c. Full Disclosure
5. Accrual accounting is based on this principle/guideline.

a. Cost b. Full Disclosure c. Matching
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6. A retailer wishes to report its merchandise inventory on its balance sheet at its retail
value. This would violate which accounting principle/guideline?
a. Cost b. Full Disclosure c. Matching
7. Which principle/guideline justifies a company violating an accounting principle

because the amounts are immaterial?
a. Conservatism b. Full Disclosure c. Materiality
8. Which principle/guideline is associated with the assumption that the company will
continue on long enough to carry out its objectives and commitments?
a. Economic Entity b. Going Concern c. Time Period
V. Assignment
Interview an Accounting Staff or Finance staff of any business establishment
within your locality and list down the different accounting principles they are
using. (30 points)
LESSON PLAN
CONTENT STANDARD The Accounting Equation

PERFORMANCE STANDARD The learners will solve problems applying the accounting
equation
CODE ABM_FABMII-IIIb-c-I6
I. LEARNING COMPETENCES
a. Illustrates the accounting equation
II. SUBJECT MATTER:
a. Topic : The Accounting Equation

b. References : Fundamentals of Accounting, Part I by Florencio 2, Reyno,Jr.
c. Materials : laptops, Projectors, Book/Teaching Guide, Curriculum Guide, meta
cards, cartolina
III. LEARNING PROCEDURES

A. Preliminaries
A. Prayer
B. Greetings
C. Sitting of classroom standards
D. Checking of Attendance
E. Passing of Assignment
F. Review of the previous topic
B.Lesson Proper
b.1 Motivation ( SHOW A PICTURE OF EQUATION )
The learners will read the equation flash on the screen
b.2 Activity
Group the learners into four groups.
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Each group will be given a various Meta cards with accounting terms.
They will be task to make an equation and present it on the board.
b.3. Analysis
The students will discuss the equation they formulated.
b.4. Abstraction
- The teacher will explain parts of the accounting equation namely:
a. Assets
b. Liabilities
c. Owner’s Equity
- The teacher will give situations related to the types of business according
to activities.
- The teachers will discuss the deeper meaning of accounting equation
Assets = Liability + Owner’s Equity
Owner’s Equity = Assets – Liability
Liability= Assets- Owner’s Equity
b.5. Application
The students will be asked to draw images out of the assets, owner’s equity
and liability then arrange the drawings according to the equation provided.
IV. EVALUATION
Students will write sample situations regarding personal problems that can be
solved using the accounting equation and share it in the class.
V. ASSIGNMENT
Study in advance the operation about the simple cases of equation
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LESSON PLAN
Content Standards The Accounting Equation

Performance Standards Solve Problems Applying the Accounting Equation
CODE ABM_FABM11-IIIb-c-17
I. Objectives: Perform Operations Involving Simple Cases with the Use of

Accounting Equation
II. Subject Matter

Content: Fundamentals of Accountancy , Business and Management 1
Reference: http://accounting-simplified.com/accounting-equation-2.html,
Method: 4 A’s
Materials: projector, laptop,
III. Procedure:
A. Preliminary Activities
A. Prayer
B. Greetings
C. Setting of Classroom Standards
D. Checking of Attendance
E. Review of Previous Topic
Ask one student to give an overview of previous topic.
B. Lesson Proper
B.1 Motivation
Picture Analysis
B.2 Activity
The students will be given a meta- cards. Each card contains the
following words: Assets, Liability, Minus symbol, addition symbol, and
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Owner’s equity. They will be instruct to create an equation out of those

words.
B.3 Analysis
The students will present their answers.
B.4 Abstraction
Presentation of the Topic
1. Present the accounting equation.
Asset= Liability + Owner’s Equity

Asset- Liability= Owner’s Equity
Asset- Owner’s Equity = Liability
2. Provide Sample Account Titles of Assets, Liabilities and Owner’s

Equity.
B.5 Application
The students will be group into 5. Each group will record the financial transactions
based on accounting equation (Asset= Liability + Owner’s Equity).
1. F. Embon’s,investedPhp 400,000.00, Accounts Payable 100,000.00, Cash
500,000.00
2. F. Embon’s Drawing Php 30,000.00
3. Loans Payable Php 10,000.00, Equipment 40,000.00, capital 30,000.00
IV. EVALUATION
The students will be given a simple accounting problem using the basic
accounting equation.
1. The business owns an aggregate asset of p 250,000. At the same time the
business owes P 60,000 to various accounts. How much is the total owner/s
equity of the business?
2. The owner’s equity of the business is P 65,000 and the total aggregate assets
is P 150,000. How much does the business owe?
3. The business owes P 80,000 to various accounts. And the business total
owner’s equity is P 30,000. How much is the asset of the business?
V. ASSIGNMENT
What are the five major accounts?
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LESSON PLAN
(ABM_Grade11)
Content Standard: The learners demonstrate an understanding of the 5 major

Accounts, namely, assets, liabilities, capital, income and
expenses.
Performance Standard: The learners shall be able to define, identify and classify
accounts according to the five major types.
Code: ABM_FABM11-IIId-e-19
IX. Learning Competencies/Objectives:

3. Discuss the five major accounts.
1.1 Define the first three major accounts namely, assets, liabilities and capital.
X. Subject Matter:
Topic: "The Five Major Accounts"
Reference: Fundamentals of Accountancy for SHS (First Edition)
Author: Rafael M. Lopez, Jr. Pages: 19-20
Materials: LCD Projector, Laptop, Visual Aides, pentel pen.
XI. Learning Procedure:

E. Preliminaries
11. Prayer
12. Greetings
c. What is the accounting equation?
F. Lesson Proper
B.1. Motivation
The students will be called randomly to answer the following questions:
1. Which part of your face do you think makes you beautiful?
2. Will others can steal that from you?
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3. Do you always ask an allowance from your parents?

4. Do you own that money given by your parents?
5. Can you consider that money, only borrowed from them?
6. How much is left from that allowance given to you at the end of the day?
B.2. Activity 1: Board Work - "MATCH THE WORD"
The teacher will divide the class into five groups with assigned Leader and
Runner for each. Then the following instructionwill be provided orally.
Instruction for the students are as follows:
1. The teacher will read each description one step at a time (with power point
presentation). After reading each description, the students will guess the word.
2. Each group will be provided with the following set of words printed in the
meta-cards:
 ASSETS
 LIABILITIES
 CAPITAL
3. With the "GO" signal, the Runner of each group will post their answer on
the board within 5 seconds.
4. The group with the most numbers of correct answer will receive a reward.
B.3. Analysis
The teacher will relate the following questions to the above activity:
1. Do you enjoy the activity?
2. We're you surprise when you get the correct answer?
3. Are you excited to know each account more?
B.4. Abstraction
 What is....
1. .. Asset?
2. .. Liabilities?
3. .. Capital?
4. .. Income?
5. .. Expenses?
B.5. Application
Students will be asked to answer practical questions:
1. Can you consider that beautiful part of your face, your asset?
2. If we will assume that the allowances given to you by your parents are just
borrowed money from them, as of today, how much do you think will be
your total liabilities from them?
3. Can you consider your money left at the end of the day as your net worth?
In what way?
XII. Evaluation.
Essay. Write the definition of the first three major accounts in one paragraph,
namely assets, liabilities and capital using the Rubrics below:
Rubric for Essay:
5 points - Ideas are expressed in clear and organized manner.
Easy to understand what his/her point.
4 points - Ideas are expressed in pretty clear manner.
But the organization of thoughts could have been better.
3 points - Ideas were somewhat organized, but were not very clear.
It took more than one reading to figure out what his/her ideas were about.
2 points - It is like a clear collection of unrelated ideas about the question. It is
unclear.
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1 point - There is an answer but ideas are far from the question.
______________________________________________________________________
____
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
__________
XIII. Assignment
Research on the last two major accounts namely, Income and Expenses.
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LESSON PLAN
Content Standard: The learners demonstrate an understanding of the Five major

accounts, namely:
1. Assets
2. Liabilities
3. Capital
4. Income
5. Expense
Performance Standard: The learner shall be able to define, identify and classify
accounts according to the five major accounts namely: assets,
liabilities, capital, income and expense.
Code: ABM_FABM11-IIId-e-20
XIV.Learning Competencies/Objectives:
4. Cite examples of income and expense accounts
1.1.Discuss the different income and expense accounts
XV. Subject Matter:

Topic: Types of Major Accounts
Reference: Financial Accounting
Authors: CondradoValix and Jose F. Peralta
Materials: projector , laptop, manila paper, pentel pen
XVI.Learning Procedure:
G. Preliminaries
16. Prayer
17. Greetings
d. What are the account titles under Assets, Liabilities and Capital
B.1. Motivation
Fish Bowl
Instruction: Each student will pick a word and say something on the word.
B.2. Activity
Phillip 66
The teacher will give words to students in the group of six. In six minutes
students will discuss in six minutes.
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B.3. Analysis
The teacher will ask the students about their ideas on the words being
discussed in the activity.
B.4. Abstraction
1. What are the examples income accounts?
2. Discuss the income accounts.
3.What are the expense accounts?
4. What are the expense accounts under direct expense?
5. What are the expense accounts under the indirect expense?
B.5. Application
Students will be group into 4. List at least 5 examples of income accounts, 5
examples of expenses under indirect and direct expenses.
IV. Evaluation
Choose the correct answer.
1. Mr.A purchase supplies for his office.
a) office supplies
b) office equipment
c) direct expense
d) inventory
2. Sharon paid the salaries of her staff
a) salary expense
b) light expense
c) utilities
d) honorarium
3. Mr. Bo Ang purchase merchandise for his store.
a) inventory
b) office supplies
c) cabinets
d) utilities
4. Miss Tapia paid lights for her business
a) light expense
b) water expense
c) depreciation expense
d) supplies
5. Mr. Rambo Tan purchase truck for his palay buy and sell business
a) office equipment
b) transportation expenses
c) delivery equipment
d) machinery
V Assignment
Cite an example that you can incur expenses in your life as a student.
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LESSON PLAN
Content Standards The two major types of books of accounts, namely,

journal and ledger.
Performance Standards Differentiate a journal from a ledger and identify the
types of journals and ledgers.
CODE ABM_FABM11-IIIf-22
Code: ABM _FABM11_IIIf-22
I. Objectives:
1) identify the uses of the to books of accounts;

2) differentiate the two books of accounts;
3) illustrate the two books of accounts.
II. Subject Matter:
Topic : Books of Accounts

Reference: Foundamentals of Accountancy, Business and Management I,
Florendo, Joselito J., First Edition, Pp. 164-170.
Materials : table, laptop, LCD (powerpoint presentation), manila paper, scotch
tape, marker pen.
III. Procedure:
A. Preliminaries
a) Prayer
b) Greetings
c) Checking of attendance
d) Setting of standards
e) Collecting of assignments
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f) Review of the previous topic
B. Motivation(video clip presentation-uses of information)
C. Lesson Proper
1) Activity:(Draw me)
Directions: The class will be divided into 5 groups. Choose

your leader to present your output afterwards. On a manila paper
make a template of a journal and a ledger and level them journal and
ledger. You are given five minutes to do the task. Materials are
provided.
2) Analysis:
a) Why businesses kept their business transactions on journals

and ledgers?
b) How important are the books of accounts?
c) Does it necessary for a business to keep books of accounts? Why?
3) Abstraction:
a) Who can tell the class what are the two books of accounts?
b) What are the uses of the general journal and general
ledger?
4) Application:
Directions: Same group will be utilized. For this

activity. Plot the given entries in the provided journal the ledgers. Choose your leader to
present your work. Materials are provided and you have to do this activity in five (5) minutes.
Your will be graded base on the following rubric:
Rubric
Consideration Points
Perfect 10
With 2 mistakes 7
With 4 mistakes 5
Teamwork 5
Total 15
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IV. Evaluation:
Directions: Answer the following the followings in ½ sheet of
paper in five (5)
minutes.
_______________1) It typically displays the transaction dates, account titles, and

explanations, references, and respective amounts of
corresponding transactions.
_______________2 to 5 differentiate General ledger with general ledger.
_______________6 to 10 illustrate a sample card of a general ledger complete with labels.
V. Assignment;
Plot the entries from the journal to the ledgers found on pages 171-172 in one(1) whole
sheet of yellow pad paper.
LESSON PLAN
Content Standard: The learners demonstrate an understanding of the two types of

books of accounts namely, journal and ledger.
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Performance Standard: The learners shall be able to differentiate a journal from a

ledger and identify the types of journals and ledgers.
Code: ABM_FABM11-lllf-23
I. Objective:
1. Differentiate the format of General Journals to Special Journals
2. Identify the types of Accounts to be used for posting of transactions.
II. Subject Matter:

Topic: Book of Accounts
Reference: Fundamental of Accounting Textbook,
Materials: LCD projector, laptop,
III. Learning Procedure:

H. Preliminaries
21. Prayer
22. Greetings
I. Lesson Proper
B.1. Activity
The teacher will divide the class into five groups and each group will select a
a team leader.
The teacher will give a crossword puzzle to each group, and then the
students will encircle all the words that they can find in the puzzle.
B.2. Analysis
Based on your activity, Are you familiar with those words?
B.3. Abstraction
The Teacher will illustrate the format of the General Journal and Special
Journal.
Introduce the different types of Special Journal and its uses in recording the different
kinds of transactions.
B.4. Application
What are the items that shall be included in the format of the Journal?
When special books of accounts are used, is it still necessary to keep a General
Journal? Why?
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IV. Evaluation
Indicate whether the following transactions are to be recorded in the General

Journal or Special Journals (specify) and prepare proforma Journal entries.
1. Bought merchandise on account from ABM Trading Costing P30,000.00.

2. Sold merchandise in cash to J. Lopez amounting to P 50,000.00
3. Collected the account of ERL Company worth P15,000.00
4. Sold merchandise on account P10,000.00
5. Paid Utility bill amounting to P 7,500.00
.
V. Assignment
In ½ sheet of paper, makes 5 journal entries that you encounter from your family
daily routine or transactions.
LESSON PLAN
Content Standard: The learners demonstrate an understanding of the two types of

books of accounts namely, journal and ledger.
Performance Standard: The learners shall be able to differentiate a journal from a

ledger and identify the types of journals and ledgers.
Code: ABM_FABM11-lllf-23
VI. Objective:
3. Differentiate the format of General Journals to Special Journals
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4. Identify the types of Accounts to be used for posting of transactions.

Topic: Book of Accounts
Reference: Fundamental of Accounting Textbook,
Materials: LCD projector, laptop,

J. Preliminaries
26. Prayer
27. Greetings
K. Lesson Proper
B.1. Activity
The teacher will divide the class into five groups and each group will select a
team leader.
The teacher will give a crossword puzzle to each group, and then the
students will encircle all the words that they can find in the puzzle.
B.2. Analysis
Based on your activity, Are you familiar with those words?
B.3. Abstraction
The Teacher will illustrate the format of the General Journal and Special
Journal.
Introduce the different types of Special Journal and its uses in recording the different
kinds of transactions.
B.4. Application
What are the items that shall be included in the format of the Journal?
When special books of accounts are used, is it still necessary to keep a General
Journal? Why?
IX. Evaluation
Indicate whether the following transactions are to be recorded in the General

Journal or Special Journals (specify) and prepare proforma Journal entries.
6. Bought merchandise on account from ABM Trading Costing P30,000.00.

7. Sold merchandise in cash to J. Lopez amounting to P 50,000.00
8. Collected the account of ERL Company worth P15,000.00
9. Sold merchandise on account P10,000.00
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10. Paid Utility bill amounting to P 7,500.00

.
X. Assignment
In ½ sheet of paper, make 5 journal entries that you encounter in your family daily
routine.
LESSON PLAN
Content Standard: The two major types of Book of Accounts, namely journal
and ledger
Performance Standard: Differentiate a journal from a ledger and identify the types
Of journals and ledger
Code: ABM_FABMII-IIIf-24
I. Objectives:
1. Define the General and Subsidiary ledger
2. Contrast General ledger and Subsidiary Ledger
3. Illustrate the General and Subsidiary Ledger
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II. Subject Matter:

Topic: Format of General and Subsidiary ledger
Reference: You tube, Google, Book
Author: Claudia Gilbertson
Materials: Laptop, projector, Manila paper, pentel pen, masking tape

A. Preliminaries
1. Prayer
2. Greetings
4. Classroom Management
B. Lesson Proper
B.1 Motivation:
*Illustration of General and Subsidiary Ledger format through the Power point
Presentation.
Using the pictures, the teacher will ask random students on what are their opinions
about the picture. After getting all the answers, the teacher will introduce the topic
as one of the best tool to identify and differentiate the general and subsidiary ledger.
B.2 Activity
5 minute activity
Group the learner in 4 groups. Let them draw and label the format of the
General and Subsidiary Ledger and let them explain the output of their work.
B.3 Analysis
- What are General and Subsidiary Ledger?
- What is the difference between the General and Subsidiary ledger?
B.4 Abstraction
- The teacher will let the class to recapitulate the meaning of general and subsidiary
ledger and deepen the understanding of general and subsidiary ledger.
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B.5 Application:
-With the same group the teacher will provide 5 general and subsidiary ledgers and
let the students post it in the general or in subsidiary ledger format.
Example of General Ledger Entries:

1. Cash 9,000.00
2. Accounts Receivable 1,000.00
3. Inventory 1,000.00
4. Property Plant and Equipments 140,000.00
5. Accounts Payable 1,000.00
Adams account 450.00, Elaiver account 100.00, Cony account 200, Raffy account
50.00, Evans 200.00, Building 70,000, truck 70,000.00
IV. Evaluation:
Identification:
____________1. It is a group of similar accounts whose combined balances
Equal the balance in a specific general ledger account.
____________2. A book containing the summarized financial transactions and
Balances of the account.
ESSAY:
1. Differentiate General from the Subsidiary Ledger. ( 5 points)
RUBRICS FOR ESSAY:
5 3 2
Well developed main Three or more main points Less than three main
points directly related to are related to the topic but points, and / or poor
the topics. Supporting one may lack details. development of ideas.
examples are concrete
and detailed.
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LESSON PLAN
(ABM_Grade11)
Content Standard :
The business transactions and their analysis, to include definition and nature of business
transactions, type of source or business document and the rules of debt and credits.
Performance Standard :
Identify business and non- business transactions, enumerate the type of business
documents, recite the rules of debit and credit and apply these to simple case.
CODE : ABM_FABM11_IIIg_g_25
I. Learning Objectives:
1. Describe the nature of business
2. Give examples of business transactions
II. Subject Matter :

Topic : Nature of Business
Reference : Fundamentals of Accounting, Business Management 1
Author : Joselito G. Florendo
Materials : Manila Paper, Marker, Projector
III. Learning Procedures:

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A. Preliminaries
1. Prayer
2. Greetings
4. Classroom Standard
5. Review the previous topic/lesson
1. What are the essential parts of a general journal?
2. What are the essential parts of a general ledger?
B. Lesson Proper
B1. Motivation: The teacher will post a quote in a form of jumbled words and let
the students guess the words.
B2. Activity :
1. The teacher will divide the class into four (4) groups and let the
students have the group dynamics techniques.
2. The students will discuss the nature of business and examples of
business transactions.
3. The teacher will allow the students to practice for their role
playing.
B2.Analysis:
The teacher will relate the activity to the topic and discuss it further.
B3. Abstraction:
1. What type of business are you portraying?
2. How will you relate in the scenario you portrayed?
3. Why do we need to know the nature of business and business
transactions?
B4. Application:
1. The students will be divided into 4 groups
2. Each group will discuss their observation and critique with the
other group.
3. The group will assess what nature of business and examples of
business they are portraying.
4. Assigned a reporter for the group to present and discuss their
observation.
IV. Evaluation : Instruction: Oral recitation
1. Select a group and assesstheir natures of business they

are portraying.
2. Compare and generalize the given example of each group.
V. Assignment :
1. What are source documents?

2. Give examples of source documents
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LESSON PLAN
(ABM_Grade12)
Content Standard :
The type of bank accounts, basic transaction, and documents related to bank deposits and
withdrawals
Performance Standard :
Share samples of bank accounts forms and documents with class and discuss their uses
and importance
Code : ABM_FABM12-11c-9
I. Learning Objectives:
1. Define Bank Statements
2. Identify the content of bank statement
II. Subject Matter

Topic : Bank Statement
Reference: http://en.m.wikipedia.organization
Author : Sergio Ortega
Material : Cartolina, Marker
III. Learning Procedure
A. Preliminaries
1. Prayer
2. Greetings
3. Checking of attendance
5. Review on the previous topic
1. Define Checks?
2. What are the parts of the checks?
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A. Activity
The teacher will divide the students into 6 groups. Each group will choose a leader
then cut out pictures.
B. Analysis
C. Abstraction
1. What is on a bank statement?
2. What information is included in bank statement?
D. Application
1. What are the content of the bank statement to be reported in the class.
IV. Evaluation
Arrange the following transaction written withdrawal on where it belong
V. Assignment
1. Make a list of bank reconciliation

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LESSON PLAN
Grade 11
Content Standard: The learners demonstrate an understanding of the business

transactions and their analysis, to include definition and nature
of business transactions, types of source or business
documents, and the rules of debits and credits.
Performance Standard: The learners shall be able to identify business and non-
business transactions, enumerate the types of business
documents, recite the rules of debit and credit, and apply these
to simple cases.
Code: ABM_FABM11-IIIg-j-26
XVII. Objective:
1. Identify different types of business documents.

2. Explain the usage of each business documents
XVIII. Subject Matter:

Topic: Business Transactions and Their Analysis as Applied to Accounting Cycle of
a Service Business a.) Rules of Debits and Credits b.) Journalizing c.) Posting and
4.) Preparation of Trial Balance.
Reference: Textbook- Basic Accounting

Author: WIN Ballada, CPA , Susan Ballada, CPA
Materials: Laptop, Projector
XIX.Learning Procedure:
L. Preliminaries
31. Prayer
32. Greetings
e. What are the examples of business transaction?
M. Lesson Proper
B.1 Motivation
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1. The teacher will flash on screen a picture of birth certificate, diploma, Transcript
of Records.
2. The students will be asked what they can see in the screen.
3. The teacher will ask what common word that best describe the three pictures
and where are these documents used?
B.1. Activity
1. The class will be divided into four groups.

2. Each group will be given picture of a business company.
3. The students will give sample of documents that the company have.
B.3. Analysis
- Do you know the importance of business documents?
- What do you think is the use of these documents?
B.4. Abstraction
1. What is a business document?

2. Different types of business documents?
3. Usage of each document.
B.5. Application
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1. Students will be grouped into five groups.

2. The teacher will distribute samples of business documents.
3. Each group will identify what are the documents given.
4. The documents are sales invoice, bill of lading, statement of account,
official receipt, deposit slip, check, purchase requisition, purchase order,
receiving report and credit memorandum.
XX. Evaluation
½ sheet of paper (Essay)
Base on your own opinion, what can you say about the importance of the business
documents in ones business.
XXI.Assignment
Interview one business entity in your community (can be small or big), list down what
business documents they are using and the importance of it in their business.
Lesson Plan
(ABM_Grade11)
Content Standard: The learners demonstrate an understanding of the business
transactions and their analysis, to include definition and nature of
business transactions, types of source or business documents, and
the rules of debit and credit.
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Performance Standards: The learners shall be able to identify business and nonbusiness
transactions, enumerate the types of business documents, recite the
rules of debit and credit and apply these to simple cases.
Code: ABM-FABM11-IIIg-j-27
I Objectives:
1. Solve simple problems and exercises in the analysis of business transactions

by journalizing.
II Subject Matter
Topic: Business transactions and their analysis as applied to accounting cycle
of a service business.
Reference: Fundamentals of Accounting.
Author: NicanorPadillo Jr.
Materials: pictures, laptop, LCD projector, meta cards, manila paper, marker
III Learning Procedure

A. Preliminaries
1. Prayer
2. Greetings
4. Classroom Management
a. Rules of Debit and Credit.
B. Lesson Proper
1. Activity
The teacher will give simple problem and exercises in the analysis of
business transactions.
2. Analysis
3. Abstraction
1. How to do journal entry.
2. Problem Solving
3. Application
1. Divide the class into 4 groups.
2. Each group will be given a problem to solve.
3. Assigned a leader who will present their output on the board.
IV Evaluation
Problem Solving.
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V Assignment
Please study about general ledger.
Lesson Plan
Content Standard: The learner demonstrate an understand of the

business transaction and their analysis, to include of
definition and nature of business transaction types
of
source or business documents, and the rules of
debits
and credits.
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Performance Standard: The learners shall be able to identify business and

non
business transaction, enumerate the types of
business
documents, recite the rules of debit and credit and
apply
these to simple cases.
Code: ABM-FABM11-IIIg-j-27
I. Objectives
1. Define debit and credit

2. Gain familiarity on rules of debit and credit
II. Subject Matter
Topic: Rules
Reference: Fundamental
Author: Josilito G. Florendo
Material: Projector, Pictures, Cartolina, Marker
III. Learning Procedures
A. Preliminaries
1. Prayer
2. Greetings
4. Classroom Standard
5. Review of the Previous Lesson
a. What are the two types of books of accounts, namely, journal and
ledger.
B. Lesson Proper
B.1 Activity
The teacher will divide the class into 6 groups and give the puzzle-
like
cardboard and analyze them.
B.2 Analysis
The teachers will relate the activity to the topic and discuss it
further.
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B.3 Abstruction
1. What is debit and credit
2. What is the rule of debit and credit
B.4 Application
1. Students will divide into 6 groups
2. Each group will analyze the following entry which is belong
to debit and credit.
IV. Evaluation
1. What is debit?
2. What is credit?
V. Assignment
Advance study for the next topic.
LESSON PLAN
ABM_FABM11-IIIg - j -28
Content Standards The learners demonstrate and understand the business transactions
and their analysis, to include definition and nature of business
transaction, types of source or business documents, and the rules of
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debit and credit.

Performance Standards Identify business and non business transactions, enumerate the types
of business documents, recite the rules of debit and credit, and apply
these to simple cases.
CODE ABM_FABM11-IIIg - j -28
XI. OBJECTIVES
 Solve simple problems and exercises in the analysis of business transaction.
XII. SUBJECT MATTER
Topic: Preparation of a trial Balance

Reference: Fundamentals of Accounting, Business and Management 1
Author: Joselito G. Florendo
Materials: Laptop, LCD Projector, Manila Papers, Scissors, masking tape,
Meta-card, Cartolina
XIII. PROCEDURE
A. Preliminaries
A. 1. Prayer
A. 2. Greetings
A. 3. Checking of Attendance
A. 4. Classroom Standards
A. 5. Review of the previous lesson
A. 5.1 How to recording to the Journals.

A. 5.1 What are various types and format of the journals.
B. Lesson Proper
B. 1 Motivation
The students will arrange the jumble words in meta cards presented.
B. 2 Activity
The teacher will divide the class into six (6) groups and arrange the jumble
words.
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The teacher present the running balance column in the reproduce ledgers. And
the group solve and answer the problem
B. 3 Analysis
The teachers will relate the activity to the topic and discuss further.
B. 4 Abstractions
1. How to prepare trial balance?

2. How important trial balance?
B. 5 Application
1. Student will be divided into three (3) groups

2. Each group prepare the trial balance show in power point or manila paper.
3. Assign a reporter for the group will present and discuss their output.
IV. Evaluation
Write the letter of the correct answer.
1.This referred to as the side of an account where increases in the balance a such
account are recorded.
A. debit balance b. Credit balance c. Trial balance d.

normal balance
2. One of the following statements is false, which is it?
A. A business transaction can have a zero net effect total assets, total liabilities, and
total liquidity.
B. The source of a source documents can be an external entity.
C. Posting is the process of transferring information from the journal to ledger.
D. A trial balance proves that the number of debited accounts in all journal entries in
equal to the number of credited account in all journal entries.
V. ASSIGNMENT:
Advance reading for the next topic

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LESSON PLAN
Content Standard: The learners demonstrate an understanding of the Accounting
cycle of a service business.
Performance Standard: The learners shall be able to identify business and non-business
transactions, enumerate the types of business documents, recite
the rules of debit and credit, and apply these in simple cases.
Code: ABM_FABM11-IVa-d-32
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I. Objectives:
5. Identify a trial balance.
6. Prepares a trial balance
II. Subject Matter:

Topic: BusinessTransactions& their Analysis as Applied to the Accounting cycle of a
service business Adjusted Trial Balance.
Reference: Fundamental of Accounting Textbook, Curriculum Guide
Materials: LCD projector, laptop, paper, pictures

N. Preliminaries
36. Prayer
37. Greetings
f. What is accounting?
g. What are the accounting steps or cycle?
O. Lesson Proper
B.1. Activity
The teacher will divide the class into three groups and each group will select a
representative to answer.
The teacher willprovide each group a simple blank T-account.
Each group will fill in the given meta cards in the blank T-account. The first
group who wins will be given a 10 points.
B.2. Analysis
Based on your activity, what have you observed?
The teacher will show a sample of a Trial Bablance.
B.3. Abstraction
1. What is a trial balance?
2. How do we prepare a trial balance?
2. How important a trial balance is in the accounting cycle?
3. Why do we need these trial balance in a business?
B.4. Application
Each group will prepare a trial balance out of the given information and post
the answers in the board. The winner will get a 10 points.
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IV. Evaluation
Short Quiz
Cash 6,000
Accounts Receivable 4,000
Drawings 10,000
Office Expenses 15,000
Capital 15,000
Service Income 20,000
Instruction:
Prepare a Trial Balance in a ½ Crosswise.
V. Assignment
Advance study for the next topic
LESSON PLAN – ABM 11
CONTENT STANDARD:
The Accounting Cycle of a service business
PERFORMANCE STANDARD:
Identify business and non-business transactions, enumerate the types of business
documents, recite the rules of debit and credit, and applies these in simple cases
LEARNING COMPETENCIES:
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Prepares adjusting entries
CODE: ABM-FABM11-IVa-d-33
I. OBJECTIVES
1. Define adjusting process
2. Journalize adjustment of Prepayments
II. SUBJECT MATTER

1. Topic: Adjusting Entries on Prepayments
2. Materials: Visual Aids, Journals
3. References: Accounting Principles vol.I; pp. 69-71
III. PRELIMINARIES
1. Prayer/Attendance Monitoring
2. Review of Previous Topics
3. Motivation: Picture Analysis
4. Lesson Objectives Presentation
IV. LESSON PROPER

A. ACTIVITIES
1. Lecture/Discussion on the nature of adjusting entries
2. Lecture/Discussion on the different kinds of adjustment
3. Deepening on the adjusting entry of prepayments
4. Presentation on prepayments transaction
5. Journalizing and posting of prepayments
6. Journalizing and posting adjustments on prepayments
B. ANALYSIS
1. How do you identify the value to be adjusted?
2. What is the significance of adjusting entries on prepaid expenses?
3. Why is adjustment on prepayments being done at the end of an accounting
period?
C. ABSTRACTION
1. What happen to the accounts if you do not perform adjustments?
D. APPLICATION
1. In Oct 31, 2014, XYZ Restaurant purchase 100 sacks of rice @ 2000.
a. Present the initial journal entry and the posting to the ledger.
b. On. Dec 31, when financial statements are about to be prepared, it was
found out that there are 15 sacks of rice left. Journalize the adjusting
entries for prepayments.
V. EVALUATION
1. In June 30, 2016, ABC Inc. paid one year advance rent worth 24,000
(2,000/month) covering the period from July 2016 to June 2017. Financial
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Report are to be made on Dec 2016. Present the initial journal entry and
adjusting entries. Post your entries.
VI. AGREEMENT
1. What is an ADJUSTMENT for Pre-collection?
LESSON PLAN
FUNDAMENTALS IN ACCOUNTANCY, BUSINESS AND MANAGEMENT 1
SUBJECT: FUNDAMENTALS IN ACCOUNTANCY,

BUSINESS AND MANAGEMENT 1
CONTENT: Business Transactions and their Analysis as applied
to the Accounting Cycle of a service business
CONTENT STANDARD: The accounting cycle of a service business
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PERFORMANCE STANDARD: Apply the simple cases in accounting cycle

LEARNING COMPETENCIES: Complete the accounting cycle
a. Preparation of balance sheet
CODE: ABM_FABM11-IVa –d - 34
I OBJECTIVES
At the end of the lesson, students should be able to:
a. Compute and perform the preparation of balance sheet.
II SUBJECT MATTER
TOPIC: completing the accounting cycle
a. Preparation of balance sheet
MATERIALS: Manila paper, 16 column worksheet, calculator, books LCD
projector, laptop
REFERENCES: www.google.com.ph/q=worksheet+balance+sheet&source
III A. Preparatory Activity

a.1 Prayer
a.2 Greetings
a.3 Checking of attendance
a.4 Review
B. LESSON PROPER
B.1 MOTIVATION
The teacher will present different pictures related to accounting and the students will
be able to describe the pictures presented.
B.2 ACTIVITY
1. Individual activity
2. Compute and perform the preparation of financial statements
a. adjusting entries
b. adjusted trial balance
c. income statement
B.3 ANALYSIS
1. Did the students perform the preparation of financial statements?
2. Did the students computed for the correct income balance?
B.4 ABSTRACTION
BALANCE SHEET- is the statement of assets, liabilities and capital of a
business or other organization at a particular point in time, detailing the
balance of income and expenditure over the preceding period.
The teacher will present the worksheet.
B.5 APPLICATION
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1. Using the 14 column worksheet, the students will perform the preparation of
balance sheet.
IV EVALUATION
1. Individual performance.
2. The students will explain the computation of their output.
V ASSIGNMENT
1. What are the nature of merchandising business?
2. Describe the nature of merchandising business?
LESSON PLAN
Content Standard: The learners demonstrate and understanding of the
accounting cycle of merchandising business to include the
journalizing of transactions using the general and special
journals, namely: sales journal, purchase journal, cash
receipts journal, and cash payment journal.
Performance Standard: The learners shall be able to prepare journal
entries, post to the ledger, prepare the trial
balance, worksheet, adjusting entries and
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complete the accounting cycle of a

merchandising business.
Code: ABM_FABM11-IVe-j-35
I. Objectives:
a. Discuss the transaction in merchandising business.
b. Identify the two major activities of a merchandising
business
II. Subject Matter:

Topic: Accounting cycle of a merchandising business.
Reference: Basic Accounting by: Edwin G. Valencia and Gregorio F. Roxas.
Materials: Projector, Cartolina, Pictures, Marker, Meta Cards.

P. Preliminaries
41. Prayer
42. Greetings
Q. Lesson Proper
B.1. Motivation
Picture analysis.
B.2. Activity
The class will be group into 3.
Labeling of the accounts whether it belongs to
purchasing activities or selling activities using a meta
cards.
B.3. Analysis
1. How do you find the activities?

2. What do you think will be our lesson for today?
3. What are the major activities of a merchandising business?
4. Do you find the business interesting?
B.4. Abstraction
*Discuss the nature of merchandising business.
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*Compare the operating cycle of servicing business and merchandising

business.
*Discuss the major activities of a merchandising business.
B.5. Application
Identify the account title whether it is purchasing
activity or selling activity.
1. Purchases 4. Purchase returns
2. Freight –out 5. Sales discounts.
3. Freight -in
IV. Evaluation:
IDENTIFICATION
Instruction:
Give the correct answer out from the given questions.
1. It refers to the buying procedure or acquisition of finished

products for sales.
2. An act of transferring the title of ownership over the
merchandise
3. Refers to the transportation cost incurred by the seller in
transporting the merchandise to the buyer
4. It is an account used when some items of merchandise sold
are returned
5. Refers to the account title for transportation of cost incurred
by the buyer in transferring the merchandise from the seller.
V. Assignment:
What kind of business do you want to have 10 years from now?
LESSON PLAN
Content Standard: The learners demonstrate and understanding of the
accounting cycle of merchandising business to include the
journalizing of transactions using the general and special
journals, namely: sales journal, purchase journal, cash
receipts journal, and cash payment journal.
Performance Standard: The learners shall be able to prepare journal
entries, post to the ledger, prepare the trial
balance, worksheet, adjusting entries and
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complete the accounting cycle of a

VI. Objectives:
c. Identify the variouskinds of special journals
d. Record transactions of a merchandising business in various
special journals

Topic: Accounting cycle of a merchandising business.
Reference: Fundamentals of Accounting, Lopez, L.
Materials: projector, special journals, laptop

R. Preliminaries
46. Prayer
47. Greetings
S. Lesson Proper
B.1. Motivation
The class will be divided into 4. Each group will be given samples of filled
special journals. They will try to identify the forms given them.
B.2. Activity
1. The class will be group into 4.
2. The group will draw lots on what forms they will fill
up (sales, purchase, cash receipts, cash payment).
They will to present the filled journals to the group.
(3 minutes to fill-up, 1-2 minutes to present.)
B.3. Analysis
What are the kinds of forms have you filled-up?
What are the details that you needed to fill-up? How did
you come-up with the answer?(Check their answers)
B.4. Abstraction
Discuss sales journal, purchase journal, cash
receipts and cash payments.
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B.5. Application
1. Each group will be asked on the usage of the forms
assigned them
IX. Evaluation:
Oral: Ask the students to identify the pictures projected be it (sales, purchase,
cash receipts and cash payments journal)
Written: They will be asked to fill the appropriate information on the lacking
details on the various journals (as projected).
X. Assignment:
Interview a business establishment in your community and ask them what special
journals they are using.
LESSON PLAN
(ABM_FABM11)
Content Standard:
The accounting cycle of a merchandising business to include the
following: (1) Journalizing of transactions using the general and
special journals, namely: sales journal, purchase journal, cash
receipts journal and cash payments journal (2.) Posting to the
ledger, namely: general and subsidiary ledgers (3.) Preparation of
trial Balance (4.) Adjusting entries to Include pre payments, accrual
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and deferral (5.) Worksheet preparation and (6.) Completing the

accounting cycle of a merchandising business
Prepare journal entries, post to the ledger, prepare the trial balance,
Performance Standard: worksheet, adjusting entries and complete the accounting cycle of a
VI. Learning Competencies/Objectives

a. Differentiate the relationship of General Journal and General Ledger.
b. Appreciate the usage of General and Subsidiary ledger in merchandising
transactions.
c. Analyze the Merchandising transaction and prepare journal entries and record
to the general and subsidiary ledger.
VII. Subject Matter

Topic: Accounting Cycle of a Merchandising Business
References: http://seattlecentral.edu/faculty/moneil/A210/L5/Lesson5-
7ed.htm, http://higheredbcs.wiley.com/legacy/college/kieso,
http://accountingexplained.com/financial/introduction/subsidiar
y-ledgers
Materials: Laptops, Projectors, worksheet
No. of Hours 1
Grade: 11
VIII. Instructional Procedure

A. Preliminaries
a. Prayer
b. Greetings
c. Checking of Attendance
d. Classroom Standards
e. Review of the previous lesson
f. Motivation
 The teacher will show a video clip.
B. Presentation of the Lesson

B.1 Activity
The students will record the journal entries below in general ledger and
subsidiary ledger.
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June 3 Inventory 5,000.00

Accounts Payable 5,000.00
Purchased of Inventory to Dave Co.
June 15 Accounts Receivable 1,300.00

Sale 1,300.00
Sold of Inventories on account to Par Co.
June 18 Accounts Payable 4,500.00

Cash 4,500.00
Paid inventory to Dave Co.
June 25 Cash 1,300.00

Accounts Receivable 1,300.00
Received payment from Par Co.
B.2. Analysis
1. What are the relationship of general journal and general ledger?
2. Posting to the Ledger is what step of Accounting Cycle?
B.3. Abstraction
1. What is Subsidiary Ledger?
2. What are the Purpose of Subsidiary Ledger?
3. How to record the different Merchandising transaction in the
General and Subsidiary Ledger.
B.4. Application
The teacher will give merchandizing transaction to students and let
them analyze and post to the ledger.
IX. Evaluation
Instruction: In a worksheet, record the following Merchandising transactions to
general ledger and Subsidiary Ledger:
Purchased tennis rackets and balls on account from MOO Co. For Php.
May 2
60,000, FOB shipping point, terms 2/10, n/60
May 5 Paid Freight on MOO Co. Purchase, Php. 1,000
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May 7 Received credit from MOO Co. For merchandise returned, Php. 5,000
Sold merchandise on account, Php. 20,000. Merchandise sold had a cost
May 9
of Php. 1,000
Purchase shoes, shirts and other accessories form Michelle Co., Php.
May 10
15,000, term 1/10, n/30. Payment was settled with cash immediately.
May 11 Paid MOO Co. In full.
Received cash refund of Php. 2,000 from Michelle Co. For merchandise
May 16
returned.
May 17 Received cash of Php. 12,000 for tennis shirt sold to customers.
Granted an allowance to customer for tennis shirts that did not fit, Php.
May 26
500
X. Assignment
1. Master and Familiarize in Posting transaction in general ledger and subsidiary
ledger
LESSON PLAN
Content Standard: The learners demonstrate an understanding of the

accounting cycle of a merchandising business to
include the following: 1. Journalizing of
transactions using the general and special journals,
namely: sales journal, purchase journal, cash
receipts journal, and cash payments journal; 2.
Posting to the ledger, namely: general and
subsidiary ledgers; 3. Preparation of trial balance;
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4.Adjusting entries to include pre payments,

accrual and deferral; 5. Worksheet preparation, and
6. Completing the accounting cycle of a
The learners shall prepare journal entries, ost to the
ledger, prepare trial balance,
worksheet, adjusting entries
Performance Standard: and complete the accounting
cycle of a merchandising
business..
XI. Learning Competencies/Objectives

a. Prepares a Trial Balance
b. Distinguish the proper placement of account titles in a Trial Balance
XII. Subject Matter
References: Fundamentals of Accounting.
Author: Lopez, Manuel Jr.
Materials: Laptops, Projectors, pictures, puzzle, meta cards, books,
whiteboard marker, whiteboard, pentel pen, cartolina,Trial
Balance
No. Of Hours 1
Grade: 11
XIII. Instructional Procedure

C. Preliminaries
 Prayer
 Greetings
 Checking of Attendance
 Classroom Standards
 Review of the previous lesson
a. How do we posts transactions in the general ledger and subsidiary ledgers?
D. Lesson Proper
B.1. Motivation
The students will arrange the jumble words presented by using the meta cards
given (3) minutes.
B.2. Activity
The teacher will divide the class into four (4) groups and solve the problem in
three (3) minutes.
B.3. Analysis
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1 .What is gross taxable income and tax due?
2. What are the items to be considered in computing the gross taxable income
and tax due?
B.4. Abstraction income and tax due
1. What is gross taxable income and tax due?
2. Compute the gross taxable income and tax due.
B.5. Application
1. The student will be divided into two groups.
2. Each group will compute and solve the problem asked.
XIV. Evaluation
Instruction: In a one half sheet of paper, please answer the following questions:
1. How do you compute the Gross Taxable income?
2. How do you compute the Net Taxable Income?
3. How important for your life about learning this topic?
XV. Assignment
2. Compute the Gross taxable Income and Tax due of your family.
LESSON PLAN
Fundamentals of Accountancy, Business and Management 2
Content Standard: The learners demonstrate an understanding of a merchandising

business to include the following: 1. Journalizing of
transactions using the general and special journals, namely:
sales journal, purchase journal, cash receipts journal and cash
payment journal, 2. Posting to the ledger, namely: general and
subsidiary ledgers, 3. Preparation of trial Balance, 4. Adjusting
entries to include pre payments, accrual and deferral, 5.
Worksheet preparation, and 6. Completing the accounting cycle
of a merchandising business.
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Performance Standard: The learners shall be able toprepare journal entries, post to the
ledger, prepare the trial balance, worksheet, adjusting entries
and complete the accounting cycle of a merchandising
business.
Code: ABM_FABM11-1Ve-j-39
XXII. Learning Competencies/Objectives:

7. Demonstrate a skill in preparing a Trial Balance.
a. Identify the trial balance of balances
b. Determines the procedure in preparing a Trial Balance.
XXIII. Subject Matter:

Reference: Fundamentalsof Accounting
Author: Rafael M. Lopez, Jr.
Materials: projector, cartolina, marker, manila paper
XXIV. Learning Procedure:

T. Preliminaries
51. Prayer
52. Greetings
h. How do you post transactions in the general and subsidiary ledgers?
U. Lesson Proper
B.1. Motivation
Guess the given picture related to the topic.
B.2. Activity
Group students into four (4) groups and make a trial balance form given the
account titles.
B.3. Analysis
B.4. Abstraction
Discuss the procedure in preparing the Trial Balance.
B.5. Application
The teacher will divide the class into five groups. Given the account titles
from the ledger, prepare a trial balance. Each group will arrange the different
terms and accounts in the appropriate parts of the structure of the trial balance.
XXV. Evaluation
Given the account titles, prepare a trial balance.
XXVI. Assignment
Study the topic on adjusting entries.
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LESSON PLAN
Fundamentals of Accountancy, Business and Management 1
(ABM_FABM11-IVe-j-40)
The learners demonstrate an understanding of the
accounting cycle of a merchandising business to
include the following:
Content Standard: 1. Journalizing of transactions using the
general and special journals, namely: sales
journal, purchase journal, cash receipts
journal and cash payments journal
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Prepare journal entries, post to the ledger, prepare

the trial balance, worksheet, adjusting entries and
Performance Standard: complete the accounting cycle of a merchandising
business.
Learning Competency:
1. Complete the Accounting Cycle of a Merchandising Business.
OBJECTIVE/S:
1. Understand the concepts and principles of accounting cycle
2. Review the accounting cycle process
3. Apply the concepts on completing the Accounting Cycle of a Merchandising Business.
4. SUBJECT MATTER:
References: Internet: teachersites.schoolworld.com/.../merchandising
%20adjusting%20entries%20note.pdf)
https://quizlet.com/136384896/chapter-20-completing-the-accounting-cycle-for-a-
merchandising-business-flash-cards/
http://wps.prenhall.com/ca_ph_moncarz_hospacc_1/39/9991/2557795.cw/-/2590286/index.ht
ml
Fundamentals of Accounting (Based on the new Philippine Accounting Standards (PAS)
Author/s: Rafael M. Lopez, Jr, CPA, 2007-2008 edition
Materials: Power Point Presentation, Internet, Video, Manila Paper, Cartolina,
Tape, Scissors, Laptop
5. PROCEDURE:
A. Routinary Activities:
1.) Prayer
2.) Greetings
3.) Classroom management
4.) Checking of attendance
5.) Reviewing of previous lessons
6.) Motivation
TIC TAC ACMB (Accounting Cycle of Merchandising Business) GAME:
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In absence of Google Forms questions (if internet and

computer are not available), activity sheet will be
Accounting Cycle provided for the students to answer. Listing all the
questions leading to understanding of Accounting Cycle
of a of a Merchandising Business. (Formative Assessment)
Merchandising
Business
B. Presentation of the lesson:

A1 – Activity:
Message Relay: The teacher will group the class into 5 by counting off and instruct
them to assign a leader. The leader from each team will gather the information and
accurately relay a message back and forth between team members as fast as possible.
The following are the messages that need to be perfectly relayed.
6. Accounting Cycle for the definition and deeply understanding of Accounting Cycle.
7. Merchandising Business for them to review the activities of the Merchandising Business.
8. Adjusting Entries for them to know those items that need adjusting entries.
9. Closing Entries for them to know those items that need adjusting entries.
10. Perpetual Inventory- To grasp the concept about inventory
The Rubrics: The first team, or the most accurate message, wins, and get 10 pts, second
will get 8 points 3rd and the rest will get 7 points.
A2- Analysis:
 How do you find the activity about completing the Accounting
Cycle for Merchandising Business?
 What are those items included in our closing entries?
 Why there is a need for closing entries?
A3- Abstraction:
 Lecture after the activity proper, the teacher will discuss in powerpoint
presentation the above terms assigned to the groups for better learning.
A4 -Application:
The teacher will let the class analyze, make journal entries of the Company
AKS, and post it to general ledger (at Appendix ):
IV - Evaluation: GIGABITES QUIZ

QUIZ 1: Modified matching type:
Instruction: From the list of possible answers, write the letter that corresponds to each of the
given statement.
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Name: _______________________________________ Year & Section:_________
List of Possible answers:

i. Merchandising Business
j. Closing Entries
k. Accounting Cycle
l. Temporary Accounts
m. Permanent Accounts
Given Statement:
6. Accounts used to accumulate information from one fiscal period to the next
7. Accounts that are closed at the end of each period. Cash, A/R, A/P, Expense accounts are
examples.
8. A six-step procedure that results in the preparation and analysis of the major financial
statements.
9. Entries at the end of an accounting period to transfer the balances of temporary accounts
to a permanent stockholders' equity account, Retained Earnings.
10. A business that purchases and sells goods.
QUIZ 2: Prepare the unadjusted trial balance

and adjusting journal entries of the Company AKS (at appendix B).
VIII. Assignment (to be submitted next meeting):
Complete the Accounting Cycle of the Company AKS at appendix B (continuation of journal entries,
Posting to the ledger, unadjusted trial balance, and adjusting journal entries you did in our application
and evaluation.)
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Appendix
Review points for Accounting Cycle
. Steps of accounting cycle Trial Balance

1.Prepare journal entries 1. List of all accounts
2. Post to the ledger 2. Total debit balances = Total credit balances
3. Prepare unadjusted trial 3. Checking whether debit and credit balances are equal.
balance 4. Trial balance lists of all accounts with the balance either on
4. Prepare adjusting journal debit or credit side.
entries 5. Total debit balances should be equal to total credit
5. Prepare adjusted trial balance balances.
6. Prepare financial statements 6. The purpose of trial balance is to check whether debit and
7. Prepare closing entries credit balances are equal.
8. Prepare post-closing trial
balance
PROBLEM FOR APPLICATION, EVALUATION AND ASSIGNMENT.
Company AKS had the following transaction in December 20×1

1. December 1, owner invested P120,000 in the business.
2. December 1, paid P 5,500 rent for December 20×1.
3. December 2, purchased equipment and issued a P 36,000 note payable in May 20×2.
4. December 8, purchased merchandise at P 71,000 on account.
5. December 15, sold merchandise at P 60,000 on account.
6. December 15, the cost of goods sold was P 42,000.
7. December 19, paid P 50,000 accounts payable to the supplier.
8. December 30, collected P 45,000 accounts receivable from the customer.
9. December 31, paid P 4,500 salaries for December 20×1.
10. December 31, depreciation expense for equipment was P 600.
11. December 31, owner withdrew P 10,000 cash for personal use.
Requirements: Complete the accounting cycle of a merchandising business.
SOLUTION:
Journal Entries
1. December 1, owner invested P 120,000 in the business.
Cash 120,000
Owner’s equity 120,000
2. December 1, paid P 5,500 rent for December 20x1.
Rent expense 5,500
Cash 5,500
3. December 2, purchased equipment and issued a P 36,000 note payable in May
20x2.
Equipment 36,000
Notes payable 36,000
4. December 8, purchased merchandise at P 71,000 on account.
Merchandise 71,000
Accounts payable 71,000
5. December 15, sold merchandise at P 60,000 on account.
Accounts receivable 60,000
☎Office Tel no.: 709-6283/366-5576
Sales revenue 60,000

6. December 15, the cost of merchandise sold was P 42,000.
Cost of goods sold 42,000
Merchandise 42,000
7. December 19, paid P 50,000 accounts payable to the supplier.
Cash 50,000
8. December 30, collected P 45,000 accounts receivable from the customer.
Cash 45,000
9. December 31, paid P 4,500 salaries for December 20x1.
Salaries expense 4,500
Cash 4,500
10. December 31, depreciation expense for equipment was P 600.
Depreciation expense 600
Accumulated depreciation 600
11. December 31, owner withdrew P 10,000 cash for personal use.
Cash 10,000
T-Accounts
Cash
Dec. 1 120,000 Dec. 1 5,500
Dec. 30 45,000 Dec. 19 50,000
Dec. 31 4,500
Dec. 31 10,000
Balance 95,000
Accounts Receivable
Dec. 15 60,000 Dec. 30 45,000
Balance 15,000
Merchandise
Dec. 8 71,000 Dec. 15 42,000
Balance 29,000
Equipment
Dec. 2 36,000
Balance 36,000
Accumulated Depreciation
Dec. 31 600
Balance 600
Accounts Payable
Dec. 19 50,000 Dec. 8 71,000
Balance 21,000
Notes Payable
Dec. 2 36,000
Balance 36,000
Owner’s Equity
☎Office Tel no.: 709-6283/366-5576
Dec. 31 10,000 Dec. 1 120,000

Balance 110,000
Sales Revenue
Dec. 15 60,000
Balance 60,000
Cost of Goods Sold
Dec. 15 42,000
Balance 42,000
Rent Expense
Dec. 1 5,500
Balance 5,500
Salaries Expense
Dec. 31 4,500
Balance 4,500
Depreciation Expense
Dec. 31 600
Balance 600
Trial Balance
Debit Credit
Cash P95,000
Merchandise 29,000
Equipment 36,000
Accumulated depreciation P 600
Notes payable 36,000
Sales Revenue 60,000
Rent expense 5,500
Total P 227,600 P 227,600

☎Office Tel no.: 709-6283/366-5576
Income Summary and Retained Earnings

Income Summary
Cost of goods sold 42,000 Sales revenue 60,000
Rent expense 5,500
Balance 7,400
Retained Earnings
Income summary 7,400
Balance 7,400
Income Statement
Company AKS
Profit or Loss
For December 20x1
Sales revenue P 60,000
Gross profit 18,000
Operating expenses
Rent expense 5,500
Total operating expenses 10,600
Net income P 7,400
Statement of Financial Position

Company AKS
Statement of Financial Position
As of December 31, 20x1
Assets Liabilities
Cash P 95,000 Accounts payable P 21,000

Accounts receivable 15,000 Notes payable 36,000
☎Office Tel no.: 709-6283/366-5576
Merchandise 29,000 Total Liabilities 57,000

Equipment 36,000
Accumulated (600) Equity

depreciation
Retained earnings 7,400
Total Equity 117,400
Total Assets P 174,400 Total Liabilities and P 174,400

Equity

Accounting Principles and Special Journals

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ST. PETER VELLE TECHNICAL TRAINING CENTER INC.

✉No. 92 P. Mc Arthur Hi-way., Marulas, Valenzuela City

The learners demonstrate an understanding of definition, nature,

II. SUBJECT MATTER

Group Content 50 % Creativity 50 % Total 100 %

Prepared by: Observed by:

Regional Education Program Supervisor- LRMDS

Content Standards The learners demonstrate an understanding of…the definition,

II. SUBJECT MATTER

recording transactions, classifying accounts, summarizing data and

ACTIVITY - (Journalizing of transactions in the special journals, The Journal

ANALYSIS: Show a sample of Trial Balance to analyze the transaction

1. Which special journal does collection of Receivable be recorded?

2. Sales or Income is also called as?

3. This special journal can still accommodate entries of transactions if their

4. Journal Entry is recordable only in the Journal Book-FALSE

Content Standards The learners demonstrate an understanding of…the definition,

VII. SUBJECT MATTER

ACTIVITY - (Journalizing of transactions in the special journals, The Journal

ANALYSIS: Show a sample of Trial Balance to analyze the transaction

7. Which special journal does collection of Receivable be recorded?

8. Sales or Income is also called as?

9. This special journal can still accommodate entries of transactions if their

10. Journal Entry is recordable only in the Journal Book-FALSE

Content Standards The learners demonstrate an understanding of the definition,

II. Subject Matter

Topic: Introduction of Accounting

1. Prayer The teacher will lead the prayer.

1. What is common between the pictures?

B. Activity The students will attach the pictures right on the

C. Analysis The students will give their ideas on how they

Rubrics For The Symbols

Criteria 3 points 5 points

F. Evaluation The teacher will give a quiz to determine the

2. Who is the person to publish a work on double-entry bookkeeping?

G. Assignment The teacher will give the assignment.

Content Standard: The learners demonstrate an understanding of the varied

II. Subject Matter

III. Learning Procedure

1. It is a branch of accounting that produces annual reports for external stakeholders.

2. A type of accounting that aims to capture a company’s cost of production by

3. An official examination and verification of accounts and records.

4. A branch of accounting that encompasses a broad range of research areas including

Content Standard The learners demonstrate an understanding of the varied

1. Explain the kind/type of services rendered in each of the branches of accounting

II. Subject Matter

Topic: Types/Kinds of services Rendered in Each of the Branches of Accounting

III. Learning Procedures

Identify which type/branch of accounting offers each of the following services.

____________ 1.Preparation of Financial Statement for internal users or external

Research and study about the limitations of the different branches of

Content: Users of Accounting information

Content Standard: The external and internal users of financial information

1. What do you think are these pictures?

List of Possible answers:

Content Standard: The various forms of business organization, as follows:

VI. Learning Competencies/Objectives:

VII. Subject Matter:

Authors: Jesus B. Nazareno, MDM

Materials: Marker, Carolina, Tape, Scissors, Pictures, Computer and Projector

VIII. Learning Procedure:

Unlocking of difficult words

a. SOLE PROPRIETORSHIP – this kind of business is owned by a single