NORTHERN MINDANAO COLLEGES INC.

Atega St., Brgy. 11 Poblacion, Cabadbaran City, Agusan del Norte

SEMI-FINAL EXAMINATION
Fundamentals of Accountancy, Business and Management 1 SCORE
Name : Grade & Section:
Subject Teacher: Date:

I. Prepare the entries to record the following independent transactions with explanations.
1. February 14, 2016 - Pedro Matapang invested PHP200,000 into his Matapang Computer
Repair business.
2. February 15, 2016 - Pedro purchased one computer unit from XY Computer Store to be used
for his business. He issued check number 001 amounting to PHP25,000.
3. February 16, 2016 - Pedro hired Juana Magaling, an experienced secretary.
4. February 17, 2016 – Repaired the computer of Jean and collected PHP10,000.
5. February 18, 2016 – Repaired the computer of Mike; however, Mike will pay PHP15,000 only
on March 18, 2016.
6. February 19, 2016 – Pedro purchased Office Supplies from MM Merchandise amounting to
PHP5,000 on account. Pedro will pay this on March 30, 2016.
7. February 25, 2016 – Paid the salary of Juana amounting to PHP4,000.

Date Account Name and Explanation Re Debit Credit

f

At the back please!!!

I may not there watching you cheating, but we know He is watching you… Goodluck!
 NORTHERN MINDANAO COLLEGES INC.
Atega St., Brgy. 11 Poblacion, Cabadbaran City, Agusan del Norte

II. Prepare a T-Account of the transactions posted in Journal.

III. Prepare a Trial Balance. Use a separate if necessary.

Prepared by: Checked by:

BRIAN REYES GANGCA ENGR. EVA M. OLOFERNES

I may not there watching you cheating, but we know He is watching you… Goodluck!
 NORTHERN MINDANAO COLLEGES INC.
Atega St., Brgy. 11 Poblacion, Cabadbaran City, Agusan del Norte
SHS Teacher Basic Education Principal

I may not there watching you cheating, but we know He is watching you… Goodluck!