Name: ______________________________________

Drade and Section: _____________________________

Guro: MR. ALVIN T. HABLO

Graphics and illustration by:

J EUGENE CHRISTIAN JOLITO
Grade 11 UNORian 0
 QTR 2 LEARNING PLAN
Applying Accounting Concept

. This courseware aims to dispel the

notion that accounting is a difficult and
complex subject matter to comprehend.
The course initially involves ordinary
and common practices in one’s day-to-day
activities so that, in this way, you can
Using all caps can be overbearing,
All CAPS means you are shouting.
easily visualize and apply I basic concepts,
think it’s the font sir, please choose
and thus enhance your accounting
a friendly font style.

foundation.

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 QTR2
Lesson 1
Applying Accounting Concept

DEAR LEARNER

Good day! How are you?

We are now in our Lesson 3 which is Applying
Accounting Concepts. In this lesson, you are going
to learn how to identify the types of books being used to record
financial transactions.
Dear Parents/Guardians
This lesson will enable your child to know the types of
books in financial transactions and to formulate
journal entries using the double-entry method of
accounting.

WHAT’S INSIDE

To orient the learners to the different types of books being used

to record financial tansactions.
To extend the learner’s knowledge on how to formulate journal
entries using the double-entry method of accounting.
To train the learner’s on how to keep the books of accounts
balanced, by using different accounting tools and methodologies.
To develop the learner’s skills in posting journal entries in the
general ledger.

WHAT TO DO

P
Accounting is a process that mainly involves a lot of
recording and monitoring, after which we can fulfill the related
functions of summarizing and interpreting to see how well a
business is doing.
Name the 8 different special books of accounts and their
uses that can be found in the notes attached here at the last
part of our learning plan. Write your answer in a piece of paper
and send to me through my messenger account not later than
Nov.7,2020.

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Engage: When do we use the special transaction journals?
Explore: Journalized individually the given transactions, create the accounting entries that
will be recorded in the General Journal. Include the explanations for the entries.

1. Paid the electrician PhP 150 as cost of labor and materials for repairing the main fuse box.

Journal Entry 1 ( JE1 )

Dr. Repairs & Maintenance PhP 150
Cr. Cash on Hand PhP 150

Explanation: To record payment of labor and materials for electrical repairs

2. Purchased three sacks of flour from supplier Gotez, worth PhP 3,000. Term 15 days

Journal Entry 2 ( JE2 )

Dr. Purchases PhP 3,000
Cr. Accounts Payable-Trade PhP 3,000

Explanation: Purchase of 3 sacks of flour from Gotez; 15 days term

3. Received customer Jebob’s full payment of PhP 750 for items bought under credit
agreement No. 54

Journal Entry 3 ( JE 3 )
Dr. Cash in Hand PhP 750
Cr. Accounts Reaceivable PhP 750

Explanation: Full-payment of customer Jebob. CA # 54

4. To record the amount of PhP 225 tax withheld from employee’s salary, which was excluded
from the payroll but supported by Accounting Ticket No. 72, dated September 03.

Journal Entry 4 ( JE 4 )
Dr. Salaries and Wages PhP 225
Cr. Withholding Tax Payable PhP 225

Explanation: To record withholding tax on salaries that were excluded in the payroll.

5. Bank reconciliation revealed a PhP 575 debit memo for the cost of checkbooks ordered, not
yet recorded in the books of accounts.

Journal Entry 5 ( JE 5 )
Dr. Office Supplies Expense PhP 575
Cr. Cash in Bank PhP 575

Explanation: To record cost of checkbooks as per bank Debit Memo.

6. Customer bought 50 boxes of all-natural soap; the PhP 2,000 cash sales was facilitated by
sales Clerk Noemi, one of the top selling sales clerk in the outlet.

Journal Entry 6 ( JE 6 )
Dr. Cash on Hand PhP 2,000
Cr. Sales PhP 2,000

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Explanation: To record COD sale of 50 boxes of all natural soap.

7. Check issued to Meralco for PhP 2,000 & paid on Sept. 03

Journal Entry 7 ( JE 7 )
Dr. Power, Water & Communication Expense PhP 2,000
Cr. Cash in Bank PhP 2,000

Explanation: Paid Meralco the electric bill for the month.

8. Fifty bottles of perfume, selling at PhP 250 each were sold on account to customer Vayuda

Journal Entry 8 ( JE 8 )
Dr. Accounts Receivable-Trade PhP 12,500
Cr. Sales PhP 12,500

Explanation: Sold 50 bottles of perfume SP PhP 250 each.

9. A customer paid PhP 3,000 as full-payment for account balance

Journal Entry 9 ( JE 9 )
Dr. Cash on Hand PhP 3,000
Cr. Accounts Receivable PhP 3,000

Explanation: To record receipt of customer’s full payment.

10. A check was issued for the salaries of five employees. Each employee was entitled to a net
salary of PhP 4,350.

Journal Entry 10 ( JE 10 )
Dr. Salaries and Wages PhP 21,750
Cr. Cash in Bank PhP 21, 750

Explanation: Salaries of 5 employees at 4,350 each.

EXPLAIN: How do we determine if the entries are debit or credit?

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ELABORATE: Create T-accounts in the given transaction in explore activities. Use
a separate sheet to show how the accounting entries created.
T-accounts
Cash on Hand

EXTEND: Check if the accounting entries are equal in terms of total debits and
total credits. Show the equality by transposing the T-accounts into a trial
balance on a separate sheet.

Trial Balance

Account Title Debit Credit

Cash on Hand

Totals

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 REFERENCES
1) Accounting for Basic Bookkeeping, 2nd Edition by Caro et. Al
2) Google ClipArts
3) www.youtube.com

NOTES

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