Republic of the Philippines

Department of Education
Region III – Central Luzon
Schools Division of Tarlac Province
CRISTO REY HIGH SCHOOL
Capas, Tarlac
Second Monthly Test in Fundamentals of ABM 2
Name_________________________________________ Score:_______________
Section _______________________________________ Date: ________________

I. Direction: Identify the term described in each number.

__________________1. It is the process of recording of financial information into the journal.

__________________2. After transaction have been recorded in the proper journals, they are transferred (posted) to the:
__________________3. Is a record of the bank’s client set up by the bank.
__________________4. Is money placed in a bank where the interest, if there is any, is lower than that of a saving
account.
__________________5. is money placed in bank or other financial institution for safekeeping with fixed and higher
interest rate but with a holding period or maturity date.
__________________6. Is a bank document used by bank client or depositor if he/she wants to put money in the bank for
safekeeping.
__________________7. Is an instrument issued by a person in payment for goods and services acquired.
__________________8. Used in journalizing all sales of merchandise on account .
__________________9. Is a bank document used by bank client or depositor if he/she wants to withdaw or get cash from
his/her bank account.
__________________10. It is the process of transferring balances from Journals to the General Ledger.
__________________11. Is the person or entity who makes the check.
__________________12. It is a statement to the depositor showing the movement of his account, it contain all the
withdrawals, deposits and balance of his account after every transaction.
__________________13. It is the monthly fee charged by the bank for its services.
__________________14. It is a debit memorandum when a deposited check from a customer “bounces” because of
insufficient funds.
__________________15. A cheque which a bank will not accept and exchange for money or payment because it was
written more than a certain number of months ago.
__________________16. It is a check issued by the company but not yet paid by the bank
__________________17. This methods adjusts both balances (balance per bank and balance per book) to the corrected
cash balance that will be presented in the balance sheet.
__________________18. Deposits already recorded in the company’s books but not yet recorded in the bank records.

II. MATCHING TYPE. Match Column A with Column B.

A B
_____19. Bank Credits A. It is often referred to as the book of original entry.
_____20. Book Errors B. It is also called as book of final entry of accounting transactions.
_____21. Signature of the Depositor C. wherein withdrawals can be made through designated
machines.
_____22. Cash Receipt Journal D. deposits made by the bank in the company’s account but not
yet reflected in the books or company’s records.
_____23. Journal E. Otherwise called certificate of deposit.
_____24. Savings Deposit F. is a proof that the depositor is authorizing the bank to get
money from his account.
_____25. Ledger G. Used in journalizing all cash received(including cash sales)
_____26. Cash Payment Journal H. items erroneously recorded by the company.
_____27. Time Deposit I. this is a unique identifier of the account maintained by the
depositor.
_____28. ATM account J. Used in journalizing all cash paid(including cash purchases)
_____29. Payee K. Is money placed in bank or other financial institution for
safekeeping.
_____30. Account Number L. is the recipient of the money.
IV. (JOURNALIZED THE TRANSACTIONS). ON APRIL 01, 2016, NELS FERRER ORGANIZED A BUSINESS CALLED FRIENDLY
TRUCKING. DURING APRIL, THE COMPANY ENTERED INTO THE FOLLOWING TRANSACTIONS:

31) April 1, 2016 – Nels Ferrer deposited Php500,000 cash in a bank account in the name of the business.
___________________________ ____________
___________________________ _______________

32) April 1, 2016 – Purchased for Php250,000 a transportation equipment to be use in the business. Nels paid 50% as down
payment while the balance will be paid on May 15, 2016.
___________________________ ____________
___________________________ _______________
___________________________ _______________
33) April 5, 2016 – Earned and collected trucking income from Ryan, Php8,000.
___________________________ ____________
___________________________ _______________

34) April 8, 2016 – Earned trucking income from Jesper, Php 30,000 on account. Jesper will pay on May 8, 2016.
___________________________ ____________
___________________________ _______________

35) April 10, 2016 – Paid salaries of drivers, Php10,000.

___________________________ ____________
___________________________ _______________

36) April 15, 2016 – Rented the vehicle to Joshua for Php35,000, Joshua paid Php20,000 on that date and the balance on
April 20.
___________________________ _______________
___________________________ _______________
___________________________ _______________
37) April 18, 2016 - Paid electric bills for the month, Php2,000.
___________________________ ____________
___________________________ _______________

38) April 20, 2016 – Collected from Joshua the balance of his April 15 account.
___________________________ ____________
___________________________ _______________

39) April 25, 2016 – Purchased office supplies, Php2,300.

___________________________ ____________
___________________________ _______________

40) April 29, 2016 – Earned and collected trucking income from Jay, Php 18,000.
___________________________ ____________
___________________________ _______________

41-50. TBL Trading’s bank statement for the month of January showed a balance per bank of P81,000. Cash balance per
general ledger is P77,700 at the end of the month.
Additional information:
1. Bank service charge P1,200
2. Outstanding checks 18,000
3. NSF check 1,680
4. Deposit in transit 15,600
5. Credit memo 3,780
Prepare a bank reconciliation using adjusted balance method.

Prepared by: Checked by: Noted by:

Manuel T. Hipolito Elizabeth C. Estabillo ARLENE P. APOSTOL

Teacher II Focal Person-SHS Principal I