Republic of the Philippines

Central Mindanao University

COLLEGE OF BUSINESS AND MANAGEMENT
DEPARTMENT OF ACCOUNTANCY
University Town, Musuan, 8710 Bukidnon

AC 51A: Accounting Information Systems (Laboratory)

First Semester, S.Y. 2021– 2022 Final Examination

GENERAL INTRUCTIONS:
1. Read and answer the questions carefully.
2. Calculators are allowed.
3. Those who are caught cheating, attempting to cheat, and allowing others to copy their answers
will automatically get a failing mark.
4. Relax, calm your mind, and take a deep breath. You may pray before taking the exam.
Test I. Xero Hands-On

Problem 1
Caleb Enterprises is a wholesaler and retailer of agricultural inputs in Maramag. It supplies to the smaller
agricultural input retailers in the same municipality. It is the first month of operations, January 2021. Refer to
following tables for the important information.

Table 1. Business Information

Business Name Caleb Enterprises
Registration Number W-A-0214-000
Organization Type Sole Trader
Industry Agricultural Product Wholesaling
Business Address Purok 17, Agrosite, North Poblacion,
Maramag, Bukidnon 8710
Contact Person Caleb Mapeso, owner
Email caleb_enterprises@agri.ph
Website www.calebenterprises.agri.com

Table 2. Inventory List

The list below contains the inventory which Caleb Enterprises will maintain for the meantime.
Product ID Product Name
Rice Seeds
1 RS-001 Inbred rice seed-certified (40 kilogram pack)
2 RS-002 Inbred rice seed-registered (20 kilogram
pack)
3 RS-003 Inbred rice seed-foundation (1 kilogram pack)
4 RS-004 Inbred rice seed-breeder (1 kilogram pack)
Vegetable
Seeds
1 VS-001 Ampalaya-Meztiza (1,000 seed-pack)
2 VS-002 Tomato-Diamante Max F1 (1,000 seed-pack)
3 VS-003 Cabbage-Green Gold F1 (1,000 seed-pack)
4 VS-004 Patola-Primera (1,000 seed-pack)
5 VS-005 Pechay-Choy F1 (1,000 seed-pack)
6 VS-006 Kalabasa-Gracia (1,000 seed-pack)
6 VS-007 Bell Pepper-Trinity F1 (1,000 seed-pack)
Inorganic
Fertilizers
1 IF-001-01 Urea (46-0-0) Prilled (50-kg bag)
2 IF-001-02 Urea (46-0-0) Granular (50-kg bag)
3 IF-002 Ammosul (21-0-0) (50-kg bag)
4 IF-003 Complete (14-14-14) (50-kg bag)
5 IF-004 Ammophos (16-20-0) (50-kg bag)
6 IF-005 Muriate of Potash 0-0-60 (50-kg bag)
7 IF-006 Diammonium Phosphate (18-46-0) (50-kg
bag)
Organic
Fertilizer
1 OF-001 Compost (1-kilogram bag)
2 OF-002 Cottonseed Meal (500-gram bag)

Table 3. Contact List

The table lists all contacts of Caleb Enterprises.
Contact Address
Max Farm Products Purok 18, Dologon, Maramag, Bukidnon
Huldam Merchandising Co. Purok 4, South Poblacion, Maramag
Bukidnon
OG Farming Inputs Depot * Kulintang, Tampakan, South Cotabato
MP Agrisure Co. * Industrial St., Calinan, Davao City
Todd’s Enterprises Purok 2, North Poblacion, Maramag,
Bukidnon
Iligan Agricultural Industries Kiwalan, Iligan City, Lanao del Norte
Inc. *
Agrikultura Co. * Susi, Kapalong, Davao del Norte
Raya Agripreneurs Hubb Purok 15, Bayabason, Maramag,
Bukidnon
Jiji Xuaxie Office Needs Inc. Gungxhou China
Mitsubishi Motors Valencia City, Bukidnon
Emcor Inc. Valencia City, Bukidnon

Table 4. Pricing Policy

Product ID List Price Trade Discount Rate
31-80 packs 81-100 packs
1 RS-001 ₱ 6% 13%
2,176
2 RS-002 1,360 6% 13%
81-160 packs 161-200 packs
3 RS-003 128 6% 13%
4 RS-004 240 6% 13%
81-160 packs 161-200 packs
1 VS-001 88 6% 13%
2 VS-002 88 6% 13%
3 VS-003 304 6% 13%
4 VS-004 80 6% 13%
5 VS-005 88 6% 13%
6 VS-006 184 6% 13%
6 VS-007 96 6% 13%
31-80 bags 81-100 bags
1 IF-001-01 3,136 6% 13%
2 IF-001-02 3,200 6% 13%
3 IF-002 1,384 6% 13%
4 IF-003 2,224 6% 13%
51-120 bags 131-150 bags
5 IF-004 2,352 6% 13%
6 IF-005 2,464 6% 13%
7 IF-006 3,440 6% 13%

1 OF-001 560
2 OF-002 2,800

Table 5. Fixed Assets

The following were the fixed assets of the company
Fixed Asset Description Quantit Acquisition Cost Useful
y Date Life
Delivery Vehicles
Delivery Van Mitsubishi L300, 3 Seater Van; 2 January 1, P804,000 each 10
length of 4440 mm, width of 1695 2021 (cash)
mm; wheelbase of 2350 mm.,
ground clearance of 195 mm.
Delivery Cab Bajaj Maxima Cargo, 3-wheeler 2 January 1, P208,888.88 10
cab. 2021 each (cash)
Office Equipment
Office Lenovo ThinkCentre M820z 21.5- 2 February 1, P38,990 each 5
Computer inch (10SD000EPC) All-in-One 2021 (on account)
 Desktop
Office Printer Epson Workforce Pro WF-C5290 2 February 1, P8,995 each (on 5
Network Color Printer 2021 account)

Office Fax Panasonic KX-FT983CX-W 1 February 1, P14,151 (cash) 5

Machine Thermal Fax Machine 2021

Biometric ZKTeco Biometric Machine 1 March 1, 2021 P5,598 (cash) 5

device Fingerprint Scanner Time
Attendance System with Proximity
RFID Card Reader USB Support
and LAN Network Time-in/out
Model K30

Office Wooden Filing Cabinet Data 1 January 1, P24,281 (on 10

Wooden Cabinet Boss Bookcase Plate File 2021 account)
Cabinet Storage Cabinet Office
Background File Cabinet

Office Steel Vertical 4 Layer Filing Cabinet 1 January 1, P7,499 (on 10

Cabinet Gauge 20 2021 account)

Office Tables Office tables with partition four (4) 1 January 1, P28,000 (on 10
site TABLE ONLY 2021 account)

Office Chairs Ergodynamic W-93A TEXAS High 2 January 1, P3,990 each 5

Back Office Chair, 320mm 2021 (cash)
Chrome Star base with nylon
casters, Tilt-Lock Mechanism with
1 YEAR WARRANTY* & After
Sales Parts & Services (Black)

Store Fixtures
Store Display Heavy Duty Slotted Angle Rack - 5 January 1, P4,400 each 10
Cabinet 6 layers (6x4x1”) 2021 (cash)
Cash Register Pos Machine All in one Pos 1 January 1, P25.063 (cash) 10
Terminal for supermarket pos 2021
system High-end pos terminal all
in one machine cash register
whole set

Store Kruzo L-Shaped Modern Table 1 February 1, P3,909.15 10

Furniture Corner Computer Desk Home 2021 (cash)
Office Study Workstation Wood &
Steel

Note: By company policy, all assets are depreciated using straight-line depreciation. You have the freedom to
create the asset numbers of each fixed asset. Refer to the contacts table for the suppliers of the fixed assets
above.

Prepayments
Date Contact Amount Remarks
January 31, 2021 Max Farm P50,000 For future sales
Products
January 25, 2021 Huldam P50,000 For future sales
Merchandising Co.
January 5, 2021 OG Farming P100,000
Inputs Depot *
January 31, 2021 MP Agrisure Co. * P100,000 For future
purchases
January 5, 2021 Todd’s Enterprises P20,000

Credit Purchase Transactions

January 6 Agrikultura Co. delivered and billed the following to Caleb Enterprises:
a. VS-001, 150 packs @ 55 pesos
b. VS-002, 150 packs @ 55
c. VS-005, 150 packs @ 55
 d. VS-006, 150 packs @ 115
e. OF-001, 50 bags @ 350
f. OF-002, 50 bags @ 1,750

January 7 OG Farming Inputs Depot. delivered and billed the following to Caleb Enterprises:
a. IF-001-01, 100 bags @ 1,960 pesos
b. IF-001-02, 100 bag @ 2,000 pesos
c. IF-002, 100 bags @ 865 pesos
d. IF-003, 100 bags @ 1,390 pesos
e. RS-001, 300 bags @ 1,360 pesos
f. RS-002, 300 bags @ 850 pesos
g. RS-003, 200 packs @ 80 pesos
h. RS-004, 200 packs @ 150 pesos

January 9 MP Agrisure delivered and billed the following to Caleb Enterprises:

a. VS-003, 200 packs @ 190 pesos
b. VS-004, 200 packs @ 50
c. VS-007, 200 packs @ 60

January 10 Iligan Agricultural Industries Inc. delivered and billed the following to Caleb Enterprises:
a. IF-004, 150 bags @ 1,470 pesos
b. IF-005, 150 bags @ 1,540 pesos
c. IF-006, 150 bags @ 2,150 pesos

Credit Sales Transactions

January 12 Caleb created invoice for the Max Farm Products. This invoice relates to the
quote requested by Max on January 11, n30.

Caleb created invoice for Huldam, trade discount was plus 1% the stated trade
discount in the pricing policy of Caleb, n30

January 13 Caleb received purchase orders from Todd’s Enterprises for the following, n15:
a. IF-001-01, 10 bags @ 2,940 pesos
b. IF-001-02, 10 bags @ 3,000 pesos

January 21 Caleb received purchase orders from Max Farm Products, n30, 100 packs of the
following: VS-001, VS-002, VS-003, VS-004, VS-005, VS-006, VS-007, RS-001
and RS-002.

Cash Receipts Transactions

January 25 Received payment from Max Farm Products (Jan 12), Huldam (Jan 12), and
Todd’s (Jan 13 in any excess from prepayment).
January 12 Caleb received cash from Raya Agri Hub for the following:
a. OF-001, 20 bags
b. OF-002, 20 bags

Cash Payments Transactions

January 27 Paid Agrikultura Co. for January 6 purchase.
January 31 Paid MP Agrisure for January 9 puchase.
January 21 Caleb paid cash to Agrikultura Co. for all vegetable seeds variants.
a. VS-001, 150 packs @ 50 pesos
b. VS-002, 150 packs @ 50
c. VS-005, 150 packs @ 50
d. VS-006, 150 packs @ 100
e. VS-003, 200 packs @ 175 pesos
f. VS-004, 200 packs @ 45
g. VS-007, 200 packs @ 55

Other Transactions
January 1 Caleb Mapeso, owner of Caleb Enterprises, set aside P90,000,000. He deposited it
on a separate checking account at the Rural Bank of Maramag with an account
number of 2814-1125-7481.

Caleb Mapeso contacted the following suppliers from whom he could purchase
merchandise:
a. OG Farming Inputs Depot
b. MP Agrisure Co.
c. Iligan Agricultural Industries Inc
 d. Agrikultura Co.

All of the suppliers positively responded to the communication.

January 5 Caleb Enterprises created and sent a purchase order to Agrikultura Co. which
contains orders of 200 packs of each of the following:

VS-001, VS-002, VS-003, VS-004, VS-005, VS-006, VS-007

and 50 bags of the following:

OF-001 and OF-002.

The purchase order was duly approved.

Caleb Enterprises created and sent a purchase order to OG Farming Inputs Depot
which contains orders of 150 bags of each of the following:

IF-001-01, IF-001-02, IF-002, IF-003, IF-004, IF-005, IF-006

and 100 bags of the following:

RS-001 and RS-002

and 200 packs of the following:

RS-003 and RS-004

The purchase order was duly approved.

January 7 Caleb Enterprises created and sent a purchase order to MP Agrisure Co. which
contains orders of 200 packs of each of the following:

VS-003, VS-004, VS-007

The purchase order was duly approved.

Caleb Enterprises created and sent a purchase order to Iligan Agricultural Industries
Inc. which contains orders of 150 bags of each of the following:

IF-004, IF-005, IF-006

The purchase order was duly approved.

January 11 Max Farm Products asked for a sales quote for 50 packs/bag of the following:

VS-001, VS-002, VS-003, VS-004, VS-005, VS-006, VS-007, RS-001 and

RS-002.

Huldam Merchandising Co. asked for a sales quote for 50 bags of IF-001-01 and -02,
IF-002, IF-003, IF-004, IF-005 and IF-006.

January 11 Caleb Enterprises created sales quotes for Max Farm Products and Huldam
Merchandising Co.The quote applied the pricing policies for the products.

January 12 Max signified their acceptance of the quote.

Huldam responded to Caleb with a request for a bigger trade discount by at least 1%.
The sales personnel notified that the request could be warranted. The two parties
have agreed.

January 15 Received merchandise returns from Max Farm products consists of the following:
a. VS-001, 10 packs
b. VS-004, 10 packs
January 16 Received merchandise returns from Raya Agri Hub, OF-001, 5 bags.

January 17 Returned to the suppliers the defective merchandise returned by Max (January 15)
and Raya (January 16)
Caleb Enterprises set up a petty cash fund amounting to P10,000.
January 26 Huldam withdrew their previous prepayment.
Bad Debts
All the receivables from Max Farms Products are written off.

Required:
1. Set up the company and organizational details.
2. Make sure change your user role to “adviser”.
3. Create a chart of accounts.
4. Caleb is most interested to monitor the sales, receivables and cash of the business. Edit the business
dashboard to highlight the said data.
5. Register the inventories.
6. Enroll the contacts.
7. Record the transactions for month chronologically.
8. Generate the (a) balance sheet, (b) income statement and (c) cash flows.

Conversion Balances
Instruction: Create another Xero Organization called Ro Maps Reborn. Enter all the balances on January 31,
2021 of Caleb Enterprsies as conversion balances (conversion date: February 1 2021) in the new organization
called Ro Maps Reborn.

Rubrics
Particulars Point/s
Organization details 2 points
User role 2 points
Dashboard 5 points
Chart of accounts 20 points
Product and services tab 20 points
Contacts tab 10 points
Invoices 20 points
Sales 20 points
Purchase orders 10 points
Quotes 10 points
Spend money (purchase-related) 5 points
Receive money (sales-related) 5 points
Spend money (fixed assets related) 10 points
Spend money (prepayments-related) 10 points
Receive money (prepayments-related) 10 points
Bad Debts 5 points
Depreciation 10 points
General ledger 10 points
Fixed Asset Register 20 points
Balance Sheet 20 points
Income statement 20 points
Cash flow 20 points
Conversion Balances 20 points
Bank Reconciliation 20 points
Prompt submission bonus 1 point
Sub-total 150 points
Google Form (Test II) 20 points
TOTAL 320
POINTS

Prepared by: Reviewed by:

ROSE MAE S. LANGOT, CPA, MSA RAYMOND S. PACALDO, CPA, MSA