Fundamentals of Accounting, Business & Management 1

Name: Date:
Grade/Yr.: Score:

GENERAL JOURNAL
Date Particulars Ref Debit
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counting, Business & Management 1

GENERAL JOURNAL
Credit
Credit
 Republic of the Philippines
DEPARTMENT OF EDUCATION
Division of Masbate
AMADOR-BELLO HIGH SCHOOL
Gangao, Baleno, Masbate
2nd Semester, SY. 2019- 2020

1st QUARTER PRACTICAL EXAMINATION

Fundamentals of Accounting, Business & Management 2
Name: Date:
Grade/Yr.: Score:

Required Tasks:
1. Prepare the GENERAL JOURNAL entries for the below transactions. ( 30 pts.)
2. Post the following transactions to the GENERAL LEDGER. (15 pts.)
3. Prepare the unadjusted TRIAL BALANCE. (5pts)

GR Palan Merchandising Store completed the following me in therchandising transaction , 2017. GR Palan used
periodic inventory system.

June 1 Invest ₱ 60,000 in the name of the business.

2 Bought merchandise on account from Boknoy Company amounting to ₱ 10,000, terms 2/10, n/30.
2 Bought ₱ 20,000 worth of merchandise from Oldie Company with terms of 2/10, n/30, FOB Shipping point.
3 Paid Boknoy Company
4 Paid freight for Oldie Company, ₱ 500
5 Sold Merchandise to Michelle Comapany on account ₱ 4,500, terms 2/10, n/30.
11 Received payment to Michelle Company.
12 Received credit from Oldie Company for merchandise returned ₱ 700.
13 Made refund to cash cash customer for defective merchandise ₱ 1, 100.
14 Paid ₱ 1,500 for salaries.
15 Received refund from supplier on cash basis purchase, ₱ 625.
16 Bought supplies ₱ 5,000 on cash.
16 Bought merchandise from Hark Company, ₱ 32,000 FOB destination.
17 Paid ₱ 200 freight for May 16.
17 Sold merchandise ₱ 15,400 terms 2/10, n/30 FOB destination.
18 Paid freight for May 17 sales, ₱ 450.
19 Received ₱ 300 refund from Hark Company for poor quality merchandise.
19 Borrowed money to the bank, ₱ 15,000, Issuing promissory note.
20 Paid Hark Company ₱ 800. Discount is allowed for partial payment.
21 Sold merchandise on ₱ 25,000.
22 Bought merchandise on credit terms ₱ 24,500. Terms 2/10, n/30, FOB shipping point.
23 Bought computer equipment ₱ 2,300 on cash.
23 Paid freight for May 22, ₱ 400.
24 Paid Hark Company Company in full.
24 Issued a ₱ 300 credit memorandum for merchandise returned on May 21.
25 Bought merchandise ₱ 4,500 for cash.
26 Sold merchandise on account ₱ 35,000, terms n/30.
27 Issued a ₱ 450 refund for poor quality merchandise sold on May 26.
28 GR Palanan withdraw from the business, ₱ 4,500.
30 Paid rent 2,500, salaries 1,500, utilities 500 and communication ₱ 1,500.
30 Ending Inventory of ₱ 2,190.

Chart of account:
110 Cash 410 Sales 610 Communication
120 Account Receivables 420 Sales Discount 620 Freight Out
130 Supplies 430 Sales Return and Allowances 630 Rent expense
140 Computer 510 Cost of Goods sold 640 Salaries
210 Accounts Payable 520 Purchases 650 Utilities expense
220 Notes Payable 530 Purchases Discount
310 GR Palan, Capital 540 Purchase Return and Allowances
320 GR Palan, Drawing 550 Freight in

Prepared by: Approved:

Sgd. GLADYS ANGELA B. VALDEMORO Sgd. RICHARD C. BASAS
SHS Teacher II Principal I
 Republic of the Philippines
DEPARTMENT OF EDUCATION
Division of Masbate
AMADOR-BELLO HIGH SCHOOL
Gangao, Baleno, Masbate
2nd Semester, SY. 2019-2020

1st QUARTER PRACTICAL EXAMINATION

Fundamentals of Accounting, Business & Management 2

RUBRICS

GENERAL JOURNAL 30pts.

GENERAL LEDGER 15pts.
TRIAL BALANCE 5pts.
TOTAL 50pts.

Prepared by:
GLADYS ANGELA B. VALDEMORO
SHS Teacher II

Approved:
RICHARD C. BASAS
Principal I
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 Republic of the Philippines
DEPARTMENT OF EDUCATION
Division of Masbate
AMADOR-BELLO HIGH SCHOOL
Gangao, Baleno, Masbate
2nd Semester, SY. 2019-2020

1st QUARTER PRACTICAL EXAMINATION

Fundamentals of Accounting, Business & Management 1

Name: Date:
Grade/Yr.: Score:

GENERAL JOURNAL
Date Particulars Ref Debit Credit
Date Particulars Ref Debit Credit