Name: Benipayo, Jericho G.

Stem 1

Entrepreneurship Wk. 7
Lesson: Performing Key Bookkeeping Tasks
INTRODUCTION. Activity 1

Do the Bookkeeping of Mae’s Business

Manage Mae’s Business

You are employed by Mae to keep the books of her RTW business. Here are the transactions she made for
the week:

Monday: Bought ten dresses for P150 each in credit.

Tuesday: Sold three dresses for P250 each.
Two paid in cash, in credit.
Friday: Paid P300 for the dresses bought in credit.
Saturday: Collected P250 from the dress sold in credit.

Guide Questions:

How much is Mae’s accounts payable as of Monday?

- The amount of accounts payable is 1,500 as of monday.
How much is her sales as of Tuesday?
- Her sales as of Tuesday is 500 in cash and 250 in account receivable .
How much is her accounts payable balance on Friday? _________________.
How much is her accounts receivable as of Saturday? ___________________.
How many dresses were sold as of Saturday _____________________________.

ENGAGEMENT. Activity 2.

Let’s enjoy the mini-lesson of the module? To better understand it, let’s have another activity. Enjoy!
Activity 1. Fill in the boxes
Complete the words described below:
1. The Father of Modern Accounting
L U C A

P A C I O L I

2. Employed to perform recording and processing of financial transactions of a business

B O O K K E E P E R
3. The bookkeeping system that records a debit and credit per transaction
D O U B L E
E N T R Y
4. Assets = Liabilities + __________
E Q U I T Y
5. Reviews the recorded financial transactions before finalizing the statements
B O O K K E E P E R
6. Foundation of double-entry bookkeeping
A C C O U N T I N G
E Q U A T I O N
7. Also known as the Profit and loss Statement
I N C O M E
S T A T E M E N T
8. Credited account when you purchase inventory to a supplier in account.
A C C O U N T S
 P A Y A B L E

9. Debited account when you receive money as payment from customers.

C A S H
10. The systematic method of recording and processing financial transactions.
A C C O U N T I N G S

ASSIMILATION. Activity 3.

Activity: Mae’s Bookkeeper

With your help, Mae’s RTW business became more
successful. More customers visit her shop. She doubles
her sales and makes more income than before!
She needs your help to monitor the day-to-day
transactions and record them to her books.
Help Mae monitor and record the transactions for the
week.
June 1: Bought 20 dresses at P500 each in account.
June 3: Borrowed cash loan from the bank for P9,000.
Paid half of the dresses bought in account yesterday, June 1.
June 5: Sold 15 dresses for P750 each in cash.
June 6: Bought store supplies for P5,000 in account.
June 8: Sold five dresses for P800 each in account. Paid the remaining
balance of the dresses bought in account last Monday.
June 10: Paid in full the store supplies bought in account. Sunday: Collected cash
for the five dresses sold in account.

Date Description Debit Credit

June 1 Accounts Payable P10,000

June 1 Inventory P10,000

June 3 Cash P9,000

June 3 Accounts Payable P9,000

June 5 Cash P11,250
June 5 Inventory P11,250

June 6 Accounts Payable P5,000

June 6 Inventory P5,000

June 8 Accounts Receivable P4,000
June 8 Inventory P4,000
June 10 Accounts Receivable
June 10