M ISAMIS UNIVERSITY

Ozamiz City Name: Page No. 1 of 3

College of Business and
Management Subject: Accounting A
Course & Year:
Examination Period: Final Requirement Document Code: MU-CBM-EXQ-ACCA
Insructor:
I.D. No. : Class Schedule: Days:

OATH
Good old values are enduring. Diligence, hard work, and honesty are some of which I should learn to practice in and
out of school. I shall endeavor to practice honesty today by answering the test questions to the best of my ability and I will not
enrich my score by getting information or answers from any other student.
____________________
Student’s Signature

Simulation of the Accounting Process Using the

Practice Set for Merchandising Business`
(Sole Proprietorship Business)

To broaden more the knowledge of the course especially on the simulation of the
accounting cycle, students are required to simulate the accounting process using the testing
material prepared by the author (Mr. Rafael M. Lopez, Jr.) to help them visualize the true
picture of how the accounting process in the actual practice is done. The name of the
business is “Davao Eagle Commercial”, a service concern, merchandising business.

Included in the practice set are (1) the handbook to guide the students and check the
accuracy from recording to reversing entries; (2) actual business source documents; (3)
proforma of the financial reports to be prepared; (4) books of accounts (general journals,
general ledgers & subsidiary ledgers); and (5) other documents such as check book, check
voucher and deposit slips.

The students will follow the step by step instruction as provided in the instructional
problem requirements in the given handbook. If the students will not find any difficulty in
simulating the accounting process, then they can be a bookkeeper. To convey students’
reflection on their own work, they will write a reflection journal to narrate the activity as a
whole. The output will be submitted on Saturday, Dec. 12, 2020. The rubric for assessment
is on the next pages.

God Bless Future Accountants! 

NAME: SUBJECT: ACCTG A PAGE NO. 2 of 3

 ID NO.: INSTRUCTOR: Rosemarie P. Duhaylungsod COURSE AND YEAR:

Rubric on Practice Set – Sole Proprietorship-Merchandising Business

CRITERIA Excellent Good Satisfactory Acceptable Needs Score

5 4 3 2 Improvement
1

Special All journal 1-2 of the 3-4 of the 5-6 of the 7 or more of the _____
Journals entries were journal entries journal entries journal entries journal entries x3
properly were not were not were not were not
recorded in properly properly properly properly
special recorded recorded recorded recorded
journals. special special special special
journals. journals. journals. journals.
All postings 1-3 of the 4-6 of the 7-9 of the 10 or more of
General and were posted postings were postings were postings were the postings
Subsidiary properly to the not posted not posted not posted were not _____
Ledger general and properly to the properly to the properly to the posted properly x3
subsidiary general and general and general and to the general
ledgers. subsidiary subsidiary subsidiary and subsidiary
ledgers. ledgers. ledgers. ledgers.
All posting 1-5 of the 6-10 of the 11-15 of the 16 or more of
Posting references posting posting posting the posting
References were properly references references references references _____
completed on were not were not were not were not x1
the ledgers and properly properly properly properly
general completed on completed on completed on completed on
journals. the ledgers the ledgers and the ledgers the ledgers and
and general general and general general
journals. journals. journals. journals.
All account 1-3 of the 4-6 of the 7-9 of the 10 or more of
Trial Balance balances were account account account the account
and properly balances were balances were balances were balances were _____
Worksheet recorded on not properly not properly not properly not properly x3
and Other the trial recorded on recorded on recorded on recorded on the
Pertinent balance and a the trial the trial the trial trial balance
Documents 10-column balance and in balance and in balance and in and in the
worksheet is the worksheet. the worksheet. the worksheet. worksheet.
completed.
All Income 1-3 of the 4-6 of the 7-9 of the 10 or more of
Income Statement account account account the account
Statement, accounts, balances in balances in the balances in the balances in the _____
Balance Statement of the Income Income Income Income x3
Sheet and Changes in Statement Statement Statement Statement
Statement of Owner’s Equity accounts, accounts, accounts, accounts,
Owner’s accounts and Statement of Statement of Statement of Statement of
Equity Balance Sheet Changes in Changes Owner’s Changes in
accounts were Owner’s Owner’s Equity Changes in Owner’s Equity
properly Equity accounts and Owner’s Equity accounts and
recorded on accounts and Balance Sheet accounts and Balance Sheet
the respective Balance Sheet accounts were Balance Sheet accounts were
financial accounts were not properly accounts were not properly
statements. not properly recorded on not properly recorded on the
recorded on the respective recorded on respective
the respective financial the respective financial
financial statements. financial statements.
statements. statements.

NAME: SUBJECT: ACCTG A PAGE NO. 3 of 3

 ID NO.: INSTRUCTOR: Rosemarie P. Duhaylungsod COURSE AND YEAR:

CRITERIA Excellent Good Satisfactory Acceptable Needs Score

5 4 3 2 Improvement
1
Formatting – Proper Proper Proper Proper Proper
Proper formatting on formatting on formatting on at formatting on formatting on
Headings, General at least 4 of least 3 of the at least 2 of at least 1 of
Descriptions, Journals, the following: following: the following: the following: _____
Dates, Page Ledgers, Trial General General Special Special x2
Numbers, Balance, Journals, Journals, Journals, Journals,
Account Worksheet, Ledgers, Trial Ledgers, Trial Ledgers, Trial Ledgers, Trial
Numbers Income Balance, Balance, Balance, Balance,
Statement, Worksheet, Worksheet, Worksheet, Worksheet,
Balance Sheet Income Income Income Income
and Statement Statement, Statement, Statement, Statement,
of Change in Balance Balance Sheet, Balance Balance
Owner’s Equity. Sheet, Statement of Sheet, Sheet,
Statement of Changes in Statement of Statement of
Changes in Owner’s Equity. Changes in Changes in
Owner’s Owner’s Owner’s
Equity. Equity. Equity.
Conveys strong Conveys Conveys weak Conveys Conveys
Reflection evidence of evidence of evidence of limited inadequate
Journal reflection on reflection on reflection on evidence of evidence of
own work with a own work with own work in reflection on reflection on _____
personal a personal response to the own work in own work in X5
response to the response to self- response to response to
self- the self- assessment the self- the self-
assessment assessment questions assessment assessment
questions questions posed. questions questions
posed. posed. Demonstrates posed. posed.
Demonstrates Demonstrates adequate Demonstrates Personal
significant satisfactory personal less than growth and
personal growth personal growth and adequate awareness are
and awareness growth and awareness personal not evident
of deeper awareness through few or growth and and/or
meaning through some simplistic awareness demonstrates
through inferences inferences through few or a neutral
inferences made, made, simplistic experience
made, examples, examples, inferences with negligible
examples, well insights, and insights, and/or made, personal
developed challenges. challenges. examples, impact. Lacks
insights, and Some thought With enough insights, enough
substantial of the future thought of the and/or inferences,
depth in implications of future challenges examples,
perceptions and current implications of that are not personal
challenges. experience. current well insights and
Synthesizes experience. developed. challenges,
current Minimal and/or future
experience into thought of the implications
future future are
implications. implications of overlooked.
current
experience.

TOTAL SCORE ___/100