Asynchronous Activity

3
Sorsogon National High School April 6 , 2021

SENIOR HIGH SCHOOL DEPARTMENT

FABM 2
Name: __________________________________________________________________________________________
Louise Joseph G. Peralta
Grade & Section: __________________________________,
11 - Fairness Date Accomplished: _________________________

Modality: ONLINE Type: Synchronous and Asynchronous Platform: Google Meet/Classroom G-Meet Link: meet.google.com/pad-ybnu-bcn

FABM 2 – WEEK 1
1st Quarter; School Year 2020-2021

FABM2

A. Create a personal SFP

In a short bond paper, compute the total amount of each accounting element.
Reflect on what you need to do to your assets, liabilities and equity.

My ASSETS
Allowance- Php 100
Cash on hand-Php 325
Laptop-Php 40,000
Shoes-Php 2,000
Watch-Php 500
Cellphone-Php 8,000
Clothes-Php 5,000

My LIABILITIES

Payables (load)- Php 400

Debt to my Mom Cheryl - Php 550

My EQUITY

Total asset – Total liabilities

Php 55,425 – Php 950 = Php 54,475
 PERALTA’S PROPERTY
STATEMENT OF FINANCIAL POSITION
AS OF April 6, 2021

Assets

Current Assets
Cash on hand Php 325
Allowance Php 100
Total Current Assets Php 425

Non-Current Assets
Laptop Php 40,000
Cellphone Php 8,000
Shoes Php 2,000
Clothes Php 5,000
Total Non -current Assets Php, 55,000
Total Assets Php 55,425

Liabilities
Current Liabilities
Payables (Load) Php 400
Debt to my Aunt Susan Php 550
Total Current Liabilities Php 950

Owner’s Equity
Owner’s Equity Php 54,475
Total Owner’s Equity Php
54,475 Total Liabilities and Owner’s Equity Php 55,425

B. Classify the following accounts as to:

a. Current Assets d. non-current liabilities
b. Non-current assets e. Equity
c. Current liabilities
Write the letter of the correct classification on the blank before each number.
_D_1. Bonds payable _A_4. Cash Equivalents
_B_2. Intangible Assets _E_5. Park, Capital
_C_3. Unearned income
C. Computation. Based on the given accounts taken from Arguilles Company,
determine the following

ARGUILLES COMPANY

Statement of Financial Position

As of April 6, 2021

ASSETS

Current Assets

Cash Php 90,000

Accounts Receivable Php 26,400

Prepaid Expense Php 56,200

Total Current Assets Php 172,600

Non-current Assets

Property, Plant and Equipment Php 713,000

Accumulated Depreciation (125,000) Php 588,000

Total Non-current Assets Php 588,000

Total Assets Php 760,600

LIABILITIES

Current Liabilities

Accounts Payable Php 78,324

Accrued Expense Php 82,010

Unearned Income Php 12,435

Notes Payable Php 76,000

Total Current Liabilities Php 248,769

Non-current Liabilities

Bonds Payable Php 148,000

Total Non-current Liabilities Php 148,000

Total Liabilities Php 369,769

Balance of the owner’s Capital Php 363,831