Tab 1

Introduction

This learning material has been prepared to satisfy the needs of ABM 11 students in
Carlos "Botong" V. Francisco Memorial National High School who seek effective ways to
enhance their accounting comprehension. It is specifically designed to introduce and
guide the learners through the Writing, Analyzing, Reading, and Researching (WARR)
learning strategies, which have been developed to address the challenges students
face in understanding the complexities of accounting subjects.

The content of this module has been carefully curated to include essential
accounting principles and concepts, along with detailed explanations of how each
WARR strategy can be applied to simplify and improve the learning process. The
modules presented are written in a clear and straightforward manner, ensuring that
students can understand and implement them with ease.

Each section of the WARR strategy Writing, Analyzing, Reading, and Researching
is accompanied by practical activities, procedures, and examples that are tailored to the
real-world needs of ABM students. These strategies not only aim to improve student's
academic performance but also prepare them with skills necessary for their
future.Through this module, we hope to foster a deeper appreciation for the subject
while empowering students to think critically and independently.

By using this module, students can look forward to an engaging, step-by-step

approach to learning that connects theoretical knowledge with practical application,
making accounting a more accessible subject.

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 Writing

Description of the Strategy

Writing helps students record transactions in an organized

way, summarize concepts, and communicate financial information
effectively. This also fosters critical thinking, as students must break
down concepts into understandable components during the writing
process.

Benefits

●​ Enhances comprehension and knowledge retention.

●​ Improves communication skills for financial data presentation.
●​ Develop organized processes and logical structures of ideas.
●​ Ability to express ideas clearly and simply.

Procedures

1.​ Understand the topic, and simplify accounting concepts to find key information
2.​ Organize ideas use outlines to ensure clarity and coherence
3.​ Write clearly use simple and short sentences or make a summary in your own
words
4.​ Fix errors in terms and grammars

Activity
1.​ Defining key terms of the Accounting concepts/Accounts.
2.​ Identifying where accounts belong.
3.​ Classifying business transactions.
4.​ Writing Accounting definition in your own words.

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Accounting is the process of identifying, recording, and communicating economic
events of an organization to interested users.

4 Phases of Accounting
a.​ Recording – Recording of business transactions, Journalizing, General
journal.
b.​ Classifying – Sorting/grouping of same accounts/items, Transferring
accounts from journal to ledger, Posting, General ledger.
c.​ Summarizing – Preparation of financial statements/reports.

Five Types of Major Accounts

Asset are resources such as cash, inventory, and equipment that are owned
or controlled by a business or organization.
Liabilities are debts or obligations, which are amounts owed to others. These
include debts, obligations to pay, and claims of the creditors on the assets of the
company.
Owner’s Equity These are the total capital the owners have invested in the
business.
Income or Revenue is money the business earns from selling a product or
service, or from interest and dividends on marketable securities. Other names for
income are revenue, gross income, turnover, and the "top line.
Expenses these are money the company spends that allow a company to
operate. This may include advertising costs, utilities, rent, salaries and others.

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Writing Strategy
Activity

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Activity 1
Instructions: Read each question carefully and write the correct answer

1.It is a process of selecting relevant economic events for a business transaction .

2.It involves keeping a chronological diary of events measured in pesos.
3.Known as preparation and distribution of financial reports.
4.It is the process of identifying, recording, and communicating economic events of an
organization to interested users.
5.Accounting helps decision-makers by providing financial reports that guide them in
making sound choices.
6.It is a step-by-step method for completing a specific task to achieve goals or
objectives.
7. It is the art of recording, organizing, summarizing, and finalizing financial information.
8.Accounting records, organizes, and finalizes financial transactions and data for a
specific period to meet users' needs.
9.Accounting is known as a repository of information.
10.It is often called the language of business.

Activity 2
Instructions: Classify the impact on the business in each transaction as either an
Asset, Liability, Equity, Revenue, or Expense and write if it is an increase or decrease.

Transactions:
1.​ Bought office supplies on account.
2.​ Paid for the monthly electricity bill.
3.​ Ami invested cash into the business.
4.​ Sold inventory to a customer on credit.
5.​ Purchased equipment with cash.
6.​ Paid wages to employees.

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 7.​ Received a loan from the bank.
8.​ Received payment for services rendered.
9.​ Paid for the rent of the office space.
10.​Sold goods for cash.

Activity 3
Instruction: Identify where accounts will increase (Debit or Credit)

1.​ Asset
2.​ Liability
3.​ Equity
4.​ Expense
5.​ Equipment
6.​ Rent Expense
7.​ Buildings
8.​ Account Payable
9.​ Cash
10.​Salary Expense
11.​Capital
12.​Inventory
13.​Prepaid Expense
14.​Supplies
15.​Notes Payable
16.​Sales
17.​Accrued expenses
18.​Store Equipment
19.​Tax and License
20.​Fuel Expense

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 Analyzing

Description of the Strategy

This is a strategy that allows students to examine financial

data,identify accounts, and solve problems.This helps them to break
down complex information into smaller or easier parts,interpret
transactions, and put right conclusions

Benefits

●​ Develop thinking skills to understand and evaluate transactions.

●​ Improves decision making by understanding financial effects.
●​ Helps solve problems by spotting errors in records.

Procedures

1.​ Understand the problem,break the financial transaction into smaller parts.
2.​ Identify accounts and find which accounts, like cash or expenses, are affected.
3.​ Classify accounts, decide if accounts are assets, liabilities, or equity.
4.​ Apply the double entry bookkeeping rules on accounts,figure out what increases
or decreases in each account.
5.​ Record transactions make accurate journal entries.

Activity

1.​ Identifying types of accounts.

2.​ Recording journal entries.
3.​ Preparing general ledger.
4.​ Preparing Trial Balance.

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Analyzing Strategy
Activity

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Books of Accounts

The books of accounts are also called accounting books. It is where transactions
that the business enters into and events that affect the business are recorded

Types of book of accounts:

a.​ Journal (book of original entry) - Used in recording daily transactions of

the business. The accounts affected by transactions or events are
determined. These effects on the accounts (increase/decrease) are
recorded in the journals as debit and credit.

Types of journals:

a.​ General Journal- for the recording of transactions that cannot be recorded
in the special Journals
b.​ Special Journals/Subsidiary Journals- used to record specific repetitive
and voluminous transactions of the business.

Ledgers (book of final entry) the ledger classifies transactions in the journal to
their respective accounts. The entries in the journals are transferred and
classified on a per-account basis in order to compute for the ending balances of
each account to be reported. This transfer is called "Posting".

The Basic Accounting Equation

All the processes in an accounting system must observe the equality of the
accounting equation,which is basically an algebraic equation as shown below:

ASSETS = LIABILITIES + EQUITY

Trial balance is a financial report that lists the ending balances of a company's
accounts. It's a key tool in double-entry bookkeeping that helps ensure the accuracy of
a company's financial records.

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Activity 1
Instruction: Identify the accounts affected and classify them.

1.​ Ms.Nami paid rent of ₱10,000 in cash.

2.​ Ms.Nami sold her Sold merchandise for ₱7,000 on credit.
3.​ She paid employee salaries of ₱12,000.
4.​ Ms.Nami borrowed ₱20,000 from a bank for her personal needs.
5.​ Ms. Nami purchased equipment for her graphics business worth ₱50,000, paid
₱30,000 in cash and ₱20,000 on credit.
6.​ Ms.Nami received ₱5,000 from the customer..
7.​ Paid electricity bill of ₱3,000 in cash.
8.​ Received a ₱15,000 advance from a customer for future services.
9.​ Purchased office furniture worth ₱8,000 in cash.
10.​Collected ₱4,000 from a customer.

Activity 2
Instruction: Prepare journal entries of Nami gfx business.

1.​ Nami started a graphic business naming it as Nami Graphics.Nami Invested

₱50,000 as capital in the business.
2.​ Purchased equipment worth ₱15,000 on credit.
3.​ Paid utility bills of ₱3,000 in cash.
4.​ Provide a service from a customer worth ₱12,000, received ₱8,000 in cash and
₱4,000 on credit.
5.​ Paid ₱6,000 her employee’s salary.
6.​ Purchased office supplies worth ₱5,000 in cash.
7.​ Borrowed ₱25,000 from a friend.
8.​ Paid monthly rent of ₱7,000.
9.​ Received ₱10,000 as payment from a customer.
10.​Nami withdrew ₱4,000 from the business for personal use.

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Activity 3
Instruction:Prepare general ledger of Nami gfx business above.

Activity 4
Instruction:Prepare a trial balance for Nami’s Business Transactions above.

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 Reading

Description of the Strategy

This strategy enables students to understand

concepts,interpret financial transactions, and apply accounting
principles accurately.This helps students analyze information quickly.

Benefits

●​ Improves understanding or technical terms.

●​ Develop skill to read things like balance sheets and journal entries.
●​ Encourage reading carefully to find important information.

Procedures

1.​ Read the activity instructions and the questions carefully to identify the goal of
the task.
2.​ Skim the transactions, underline important dates, amounts, and the accounts
involved.
3.​ Group similar transactions and determine the accounting principles applied.
4.​ Answer each question systematically, perform necessary calculations, and
double check for accuracy.
5.​ Summarize key learnings, compare answers with peers/classmates, and clarify
any misunderstandings through class discussion.

Activity

1.​ Analyzing Transactions

2.​ Calculating Assets and Liabilities
3.​ Recording Business Activities

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Reading Strategy
Activity

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Basic Accounting Terms

Assets - Resources owned by a business (e.g., cash, equipment).

Liabilities - Obligations the business owes (e.g., loans, accounts payable).
Equity - The owner’s claim on the assets (e.g., capital, retained earnings).
Revenue - Income earned from business operations.
Expenses - Costs incurred to operate the business.

Two types of Assets:

Current Assets - cash and other assets that are expected to be converted to
cash within a year (cash, checks, bank deposits).
Non-Current Assets - an asset that is not likely to turn to unrestricted cash
within one year. It is also referred to as a long-term asset (land, building,
equipment).

Two types of Liabilities:

Current Liabilities - amounts due to be paid to creditors within twelve

Months (notes payable, account payable, unearned revenues).
Non-current Liabilities - are long term liabilities or obligations which are
payable for a period longer than one year (mortage payable and bond payable).

Two types of Equity:

Contribution (Investments) - may be start-up capital or a later infusion of cash.

Drawing (Withdrawals) - If a business is profitable, the owners often want
some of the profit returned to them.

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Activity 1
Instruction: Read and Analyze the Business Transaction of Shiny's Bakery and answer
the questions below.

Maple Bakery Business

Shiny's Bakery is a small bakery that opened on January 1, 2025. The following
transactions occurred during their first month of operations:

1.​ On January 1, the owner, Shiny, invested ₱500,000 in cash to start the business.
2.​ On January 3, . Shiny's Bakery purchased baking equipment worth ₱100,000.
They paid ₱50,000 in cash and promised to pay the remaining ₱50,000 in 30
days.
3.​ On January 10, the bakery purchased supplies (flour, sugar, and butter) on
account for ₱20,000.
4.​ On January 15, Shiny's Bakery made its first sales, earning ₱50,000 in cash and
₱30,000 on credit.
5.​ On January 20, the bakery paid ₱10,000 for utilities (electricity and water).
6.​ On January 25, Shiny withdrew ₱15,000 from the business for personal use.
7.​ On January 30, the bakery received ₱20,000 from customers who previously
bought on credit.

Questions:

1.​ What is the total cash Shiny's Bakery invested in the business?
2.​ Identify the business transaction on January 3. Which accounts are affected, and
how?
3.​ How much revenue did Shiny's Bakery earn in January, and what portion was
collected in cash?
4.​ What is the remaining balance owed for the baking equipment as of January 31?

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 5.​ Which accounting principle is applied when Shiny withdraws money for personal
use?
6.​ What is the total expense paid for utilities during January? How would this be
recorded?
7.​ Calculate the total cash balance at the end of January, considering all
transactions.

Activity 2
Instruction: Read the transaction carefully and Answer the questions.

1. Shiny Vehicles Company's had current assets amounting to Php 100,000. Noncurrent
assets for the year totaled Php 76,000.
-​ How much is the company's total assets
2. Shiny Vehicles Company's total liabilities amounted Php 10,000. Total equity had an
ending balance of Php 20,000.
-​ How much is total assets?
3. Shiny Vehicles Company's had the following accounts at year end: Cash-250,000,
Accounts Payable-70,000, Prepaid Expense-15,000.
-​ Compute for the company's current assets.
4. Shiny Vehicles Company's Accounts Receivable amounted to Php 500,000. Prepaid
Expense and Unearned Income totaled Php 30,000 and Php 10,000 respectively. Cash
balance amounted to Php 100,000 while Accounts Payable and Inventory totaled to Php
20,000 and Php 10,000 respectively.
-​ How much is the company's current assets? Current liabilities?
5. Shiny Vehicles Company's Total Liabilities and Equity amounted to Php 285,000.
Total noncurrent assets ended at Php 85,000. Cash totaled Php50,000. Inventory
amounted to Php100,000.
-​ Assuming the company had no other assets, how much is Accounts Receivable?

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6. Shiny Vehicles Company's total assets amounted to Php575,000. Total equity
amounted to Php 250,000. Accounts Payable amounted to Php 50,000 while Unearned
Income totaled Php 85,000.
-​ Assuming there are no other current liabilities, compute the company's
noncurrent liabilities.
7. Shiny Vehicles Company's total assets amounted to Php 450,000. Current liabilities
totaled Php 60,000, and equity amounted to Php 200,000.
-​ How much is the company's noncurrent liabilities?
8. Shiny Vehicles Company's current assets consist of Cash (Php 120,000), Accounts
Receivable (Php 180,000), and Prepaid Expenses (Php 30,000).
-​ How much is the company's total current assets?
9. Shiny Vehicles Company's inventory for the year totaled Php 70,000, and its cash
balance is Php 90,000. The company's total liabilities amount to Php 120,000.
-​ How much is the company's total equity?
10. Shiny Vehicles Company's total assets amounted to Php 700,000. Its noncurrent
liabilities totaled Php 200,000, and equity amounted to Php 350,000.
-​ How much is the company's current liabilities?

Activity 3
Instruction: Read the Econom's Business transaction and answer each questions.

Econom Company, a company focused on eco-friendly products, started its operations

on March 1, 2025. The following events took place during the first month:

1.​ On March 1, the founder, Zel Diaz, invested ₱2,000,000 in cash to launch
Econom Company.
2.​ On March 3, Econom bought office equipment worth ₱300,000. They paid
₱150,000 in cash and agreed to pay the remaining ₱150,000 in 60 days.
3.​ On March 7, Econom made its first product sale for ₱80,000 in cash.

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 4.​ On March 10, the company purchased raw materials for ₱50,000, paying the full
amount in cash.
5.​ On March 15, Econom paid ₱12,000 for office rent for the month.
6.​ On March 20, Zel withdrew ₱50,000 for personal expenses.
7.​ On March 25, Econom paid its employees ₱40,000 in salaries for the month.

Questions:

1.​ How much money did Zel Diaz initially invest in the company?
2.​ What accounts are affected by the purchase of office equipment on March 3,and
how they affected?
3.​ What is the total amount of sales Econom made in March, and how much was
received in cash?
4.​ What is the balance owed for the office equipment by March 31?
5.​ How does Econom handle its expense for office rent, and which account is
affected?
6.​ What is the total amount of cash Econom paid for raw materials and office rent?
7.​ Calculate Econom's total cash balance by the end of March, factoring in all
transactions.

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 Researching

Description of the Strategy

​
​ This is a learning strategy that connects what students
learn in theory to real-life situations, helping them to understand
better through exploring and analyzing.This focuses on using
reliable sources and understanding data for making decisions.

Benefits

●​ Builds thinking and questioning skills.

●​ Improves problem-solving by using reliable sources.
●​ Encourages creativity and curiosity about financial transactions and uses.

Procedure

1.​ Identify the topic, choose accounting lessons or problems for exploration.
2.​ Gather information using textbooks, online resources, and expert insights.
3.​ Analyze findings and review gathered information for accuracy and relevance.

Activity

1.​ Exploring Accounting Concepts.

2.​ Understanding Journal Entries.
3.​ Investigating Financial Statements.
4.​ Mastering Debits and Credits.
5.​ Researching Accounting Principles.

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Researching
Strategy
Activity

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Activity 1
Direction: Record the following transactions in the Statement of Financial Position using
the report form and ensure that the accounting equation (Assets = Liabilities + Equity) is
balanced.

Transactions:
1) The company receives P15,000 in cash from an investor for equity shares.
2) The company purchases inventory worth P6,000 on credit.
3) The company pays P1,200 in cash for monthly rent.
4) The company takes out a P3,000 loan from the bank.
5) The company buys office equipment for P2,500 in cash.
6) The company pays P200 in cash for utility bills.
7) The company sells goods for P4,000 on credit.
8) The company collects P1,500 in cash from customers on account.
9) The company pays P700 in cash for supplies.
10) The owner withdraws P800 in cash for personal use.

Activity 2​
Instruction: Choose accounting lesson,topic, and words that you are struggling/can’t
understand.List the lesson that you're struggling with and do a research of this
lesson,topic, and words.

A.​ Accounting topic and words your struggling with:

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 B.​ Information you gather through searching (online or textbooks.. etc)about
the topic or words you have difficulty with.:

C.​ Write what you learned or found out about that topic or word.:

Activity 3​
Instructions:Choose a specific accounting concept that you find challenging or need
further clarification on. For this activity, we will focus on journal entry.

Business Transaction:

1.​ Bryan decided to open his computer repair shop on February 14, 20244, naming
it Lakers Computer Repairs.Bryan knows that business transactions should be
separated from personal finances. Thus, he decided to invest PHP200,000 in this
business. He deposited the amount with China Bank.

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 2.​ February 15, 2020 - Bryan purchased one computer unit from Clippers Computer
Store to be used for the business. He issued check number 001 amounting to
PHP25,000.
3.​ February 16, 2020 - Bryan hired Angelo Lopez, an experienced secretary.
4.​ February 17, 2020 - Repaired the computer of Lebron and collected PHP10,000.
5.​ February 18, 2020 - Repaired Green's computer. However, Green will pay
PHP15,000 on March 18, 2020

Date Account Title Debit Credit

February 14, 2024 Cash 200,000

Capital 200,000

Investment of
PHP200,000 in the
business

February 15, 2024 Equipment 25,000

Cash 25,000

Purchase of one
computer unit for
PHP25,000

February 16, 2024 Hired Angelo

Lopez, no entry as
no payment made

February 17, 2024 Cash 10,000

Service Revenue 10,000

Repaired Lebron's

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 computer and
collected
PHP10,000

February 18, 2024 Account Receivable 15,000

Service Revenue 15,000

Repaired Green's
computer, payment
to be made on
March 18, 2020

A.​ Research journal entry example above using textbooks, online resources, and
other reliable sources focusing on how they are written, the role of debits and
credits, and how transactions are recorded.
B.​ Do a journal entry of other business transactions by applying the knowledge
you’ve gathered. Create a journal entry for a given transaction

Donna’s Bake Shop Business Transactions.Make a journal entry of this transaction.

1.​ January 1, 2025 Donna decided to open her bakery, Sweet Delights Bakery. She
invested PHP300,000 into the business and deposited it into a business account
at Sunshine Bank.
2.​ January 2, 2025 Donna purchased baking equipment from Bakers Supply Store
for PHP50,000, issuing a check.
3.​ January 3, 2025 Donna hired an assistant baker, John, and agreed to pay a
monthly salary of PHP20,000.
4.​ January 4, 2025 Donna sold cakes to a local café for PHP15,000, receiving cash
payment.
5.​ January 5, 2025 Donna paid PHP12,000 for ingredients (flour, sugar, butter, etc.)
to a local supplier, issuing check number 002.

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 6.​ January 10, 2025 Donna received an order from a customer for PHP25,000
worth of cakes. Payment will be made on January 20, 2025.
7.​ January 11, 2025 Donna paid her monthly rent for the bakery premises
amounting to PHP30,000.

C. After doing journal entry,reflect on how the research(gathered information)helped you

understand journal entries better and cleared up any confusion you had.

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 Writing
Activity 1

1.​ Identifying
2.​ Recording
3.​ Communicating
4.​ Accounting
5.​ Decision-making support
6.​ Procedure
7.​ Accounting process
8.​ Accounting cycle
9.​ Database or financial ledger
10.​Accounting

Activity 2

1.​ Asset - Increase

Liability - Increase

2.​ Expense - Increase

Asset - Decrease

3.​ Asset - Increase

Equity - Increase

4.​ Revenue - Increase

Asset - Increase

5.​ Asset - Increase

Asset - Decrease

6.​ Expense - Increase

Asset - Decrease

7.​ Asset - Increase

Liability - Increase

8.​ Asset - Increase

Revenue - Increase

9.​ Expense - Increase

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 Asset (Cash) - Decrease

10.​Revenue - Increase

Asset - Increase

Activity 3

1.​ Debit
2.​ Credit
3.​ Credit
4.​ Debit
5.​ Debit
6.​ Debit
7.​ Debit
8.​ Credit
9.​ Debit
10.​Debit
11.​Credit
12.​Debit
13.​Debit
14.​Debit
15.​Credit
16.​Credit
17.​Credit
18.​Debit
19.​Debit
20.​Debit

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 Reading
Activity 1: Shiny's Bakery
1.​ ₱500,000
2.​ Baking Equipment, Cash , Accounts Payable.
3.​ ₱80,000 revenue; ₱50,000 collected in cash.
4.​ ₱50,000
5.​ Business Entity Principle.
6.​ ₱10,000; Utilities Expense,Cash.
7.​ ₱495,000

Activity 2: Shiny Vehicles Company

1.​ ₱176,000
2.​ ₱30,000
3.​ ₱265,000
4.​ Current Assets: ₱630,000; Current Liabilities: ₱30,000
5.​ ₱50,000
6.​ ₱190,000
7.​ ₱190,000
8.​ ₱330,000
9.​ ₱210,000
10.​₱150,000

Activity 3: Econom Company

1.​ ₱2,000,000
2.​ Office Equipment,Cash, Accounts Payable.
3.​ ₱80,000; Cash received ₱80,000
4.​ ₱150,000
5.​ Rent Expense,Cash.
6.​ ₱62,000
7.​ ₱1,688,000

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 Analyzing

Activity 1: Nami’s Business Transaction Analysis

1.​ Rent Expense (Debit)

Cash (Credit)

2.​ Accounts Receivable (Debit)

Sales Revenue (Credit)

3.​ Salaries Expense (Debit)

Cash (Credit)

4.​ No business entry (personal transaction).

5.​ Equipment (Debit) ₱50,000

Cash (Credit) ₱30,000

Accounts Payable (Credit) ₱20,000

6.​ Cash (Debit)

Accounts Receivable (Credit)

7.​ Utilities Expense (Debit)

Cash (Credit)

8.​ Cash (Debit)

Unearned Revenue (Credit)

9.​ Office Furniture (Debit)

Cash (Credit)

10.​Cash (Debit)

Accounts Receivable (Credit)

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Activity 2

29
Activity 3

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Activity 4

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Glossary

Accounting: The process of identifying, recording, and communicating economic

events of an organization to interested users.

Accounting Equation: The foundation of double-entry bookkeeping, expressed as

Assets = Liabilities + Equity.

Analyzing: Breaking down transactions into simpler parts to determine their financial
impact.

Assets: Resources owned by a business that provide future economic benefits.

Cash Transactions: Exchanges involving immediate payment .

Classifying: Categorizing accounts into assets, liabilities, equity, revenue, or expenses.

Credit: An entry on the right side of an account, typically indicating an increase in

liabilities, equity, or revenue.

Credit Transactions: Transactions where payment is deferred to a later date.

Contribution (Investments): Start-up capital or a later infusion of cash.

Current Assets: Cash and other assets that are expected to be converted to cash
within a year

Current Liabilities: Amounts due to be paid to creditors within twelve Months

Debit: An entry on the left side of an account, typically indicating an increase in assets
or expenses.

Double-entry Bookkeeping: An accounting system where every transaction affects at

least two accounts, maintaining the accounting equation.

Drawing (Withdrawals): If a business is profitable, the owners often want

some of the profit returned to them.

Equity: The residual interest in the assets of the entity after deducting liabilities, often
called "owner's equity."

Expenses: Costs incurred during business operations (e.g., rent, salaries).

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Financial Statements: Reports summarizing financial data, including the balance
sheet, income statement, and cash flow statement.

General Ledger: A comprehensive record of all accounts and their balances.

Income or Revenue: Is money the business earns from selling a product or service, or
from interest and dividends on marketable securities.

Investments: Funds provided by the owner or investors for starting or running a

business.

Journal Entry: Recording financial transactions in the accounting journal, specifying

debits and credits.

Ledgers: (book of final entry) the ledger classifies transactions in the journal to their
respective accounts.

Liabilities: Debts or obligations, which are amounts owed to others. These include
debts, obligations to pay, and claims of the creditors on the assets of the company.

Non-Current Assets: An asset that is not likely to turn to unrestricted cash within one
year. It is also referred to as a long-term asset.

Non-current Liabilities: Long term liabilities or obligations which are payable for a period
longer than one year.

Prepaid Expense: An expense paid in advance and recognized over time.

Reading: Understanding concepts, interpreting financial transactions, and applying

principles systematically.

Recording: Documenting business transactions accurately.

Researching: Exploring accounting principles and connecting theory to real-life

applications through data analysis.

Trial Balance: A report ensuring that the sum of debits equals the sum of credits in the
ledger.

Unearned Income: Revenue received before goods or services are delivered.

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References

Teresa Gordon P. & Jason Porter (2009). Reading and Understanding Academic

Research in Accounting: A Guide For Students.

https://www.researchgate.net/publication/37160422

Racher Raskin (2021). Engaging with Text: The Effectiveness of Content Literacy and

Active Learning Strategies in Online Introductory Accounting Courses.

https://academicworks.cuny.edu/cgi/viewcontent.cgi?article=1797&context=ny_p
ubs

Erin Jordan E. & Janet Samuels A. (2020). Research Initiatives in Accounting

Education: Improving Learning Effectiveness.

https://publications.aaahq.org/iae/article-abstract/35/4/9/818

Academic Gain Tutorials (2021). Accounting Activities.

https://www.youtube.com/watch?v=wWcdRI2lbX0&ab_channel=AcademicGainTu
torials

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 Jea Mae Abing, a Grade 12 student from the Academic
Track specializing in the Accountancy, Business, and
Management (ABM) strand. Born on May 14, 2007, first in
the four siblings. She likes to study hard to become an
accountant and give a decent life to her family and make
them proud.

Studying in Carlos Botong V. Francisco Memorial National

High School. She wants to pursue an Accountant course in college and wants to
be a Certified Public Accountant.

Hi everyone, blessed day! He is Christian Santos Salmo a

grade 12 Accounting And Business Management Student.
He likes to study hard and he pursues himself To Finishing
her studies for the family.

Sometimes he is sensitive to what other people say,

especially if it is offensive. But he always choosing to be
humble in over all he is very friendly and loveable

He is Studying in Carlos Botong V. Francisco Memorial National High

School/SHS.

Sulla, also known as Mark Paul R. Sulla, was born on

November 22, 2007. He is a student at Carlos Botong
Memorial National High School and is currently in
Grade 12, taking the Accountancy, Business, and
Management (ABM) strand.

Studying in Carlos Botong V. Francisco Memorial

National High School.

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I’m Donna Villaraza. I was born on March 16 2004 I
studied at Carlos Botong Francisco Memorial National
High School as grade 12 ABM students . My talent is
drawing, I also like to write songs.My hobbies are
reading articles in books, watching educational
programs. My passion is to become a tourism student
when the time comes My goal is to become a
successful Tourism student to reach my dream and my
parents' dream

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