NAME: CONCEPCION, Jeizel V.

SCORE:
PROFESSOR: Ma’am Salve Dulong Cahilo BSAIS – 1A September 8, 2020

PROBLEM 3-1 CROSSWORD PUZZLE

1 2 3 4
a c c o u n t t r a
n s a c t i o n
5
a s o
6
s e r i
7 8 9
T h r m n b o n d
10
v i a t o
11
a s s e t s i n l a t
c q c c n e
12
c u e o b g c s
o i m a i o
13
u v a r e l b s r
14
n a c c r u e d l i a b i l i t i e s
t l c v s n e c
e u e u c o e
n m n m e a f i
t u u m s v
s l e a s s a
a s r e a b
15
t y c a p i t a l l
e s e e
d s

Across 4. The side or the account-debit or credit where

1. Decreases, increases, and balances
3. Transfer of something of value between two
entities.
8. Contract between the issuer and the lender
specifying the terms of repayment and the interest to
be charged.
11. Economic resources
14. Amounts owed to others for unpaid expenses
15. Property
increases are recorded
5. Revenues earned by performing services
6. Nonmonetary assets without physical substance
held for use
7. Simplest form of the account
9. A written pledge that the customer will pay the
business a fixed amount of money on a certain date
10. Shows the profit or loss for the period before
closing to the capital account.
12. Cost of goods sold
13. It is a contra account that contains the sum of the
period of depreciation charges

Down
2. Highly liquid investments
PROBLEM 3-2 IDENTIFICATION

Indicate whether each of the following items is a business’ ASSET, LIABILITY OR

OWNER’S EQUITY. If not, write NOT APPLICABLE.

1. Cash – ASSET

2. Advertising expense – OWNER’S EQUITY

3. Owner’s investment – OWNER’S EQUITY

4. Cleaning equipment – ASSET

5. Salary expense – OWNER’S EQUITY

6. Salary payable – LIABILITY

7. Owner’s withdrawal – OWNER’S EQUITY

8. Notes payable – LIABILITY

9. Office supplies – ASSET

10. Office supplies expense – OWNER’S EQUITY

11. Commission revenue – OWNER’S EQUITY

12. Commission expense – OWNER’S EQUITY

13. Billings to clients – OWNER’S EQUITY

14. Equipment at cost – ASSET

15. Equipment at market value – ASSET

16. Insurance expense – OWNER’S EQUITY

17. Amount of insurance policy – NOT APPLICABLE

18. Owner’s meeting – NOT APPLICABLE

19. Personal expenses of the owner – NOT APPLICABLE

20. Goods donated to the business – ASSET