LITTLE SHEPHERD BUSINESS AND SCIENCE HIGH SCHOOL

Lumban, Laguna

NAME: ___________________________
YEAR & TEACHER: __________________

ASSIGNMENT IN LESSON 1 – ACCOUNTING 12

Instruction: Fill in the blanks for value received and value parted with.

TRANSACTIONS VALUE RECEIVED VALUE PARTED WITH

Bought merchandise for
cash
Bought merchandise on
credit
Bought furniture on
credit.
Borrowed money from
the bank.
Sold merchandise for
cash
Sold merchandise on
credit
Paid the debt due to a
creditor
Paid the rent of the
building.
Receipt of cash as
payment of debt owing
to the business
Bought a computer for
office use, paying cash
therefor.