Pamantasan ng Lungsod ng Pasig

Alkalde Jose St., Kapasigan, Pasig City

College of Business and Accountancy

CHAPTERS 1 – 9 OF RICH DAD POOR

DAD ASSIGNMENTS

Introduction and Chapter 1

Chapters 2 and 3
Chapters 4 and 5
Chapters 6 and 7

Submitted by:
Jienne F. Asong
BSA-2A

Submitted to:
Prof. Edna R. Makalinaw
 INTRODUCTION AND CHAPTER 1

a. What are assets ? List the assets of your family.

 Assets are resources having economic worth that an individual, business, or

country possesses or controls with the hope of future gain. The assets of our

family are our land, our house, appliances, gadgets, cash (on hand and in bank)

and jewelries.

b. What are liabilities ? List the liabilities of your family.

 Liabilities are what a person owes from another. The liability of our family is

monetary debts.

c. What are the sources of income of your family ? List them.

 Our family’s sources of income are our rooms for rent business and my older

brother and father’s work income.

d. What are the monthly expenses of your family? List them according to the

human hierarchy of needs.

 Physiological Needs: Food and clothing, utility bills (electricity, water and

internet) 

 Safety Needs: Cleaning and disinfecting materials

 Self-Actualization: Pet food

e. What does your family do when family income is NOT ENOUGH to cover your

expenses ?

 When we know our income is not enough to cover our expenses, we adjust our

food expenses and prioritize our bills.

f. What does your family do when family income is MORE THAN ENOUGH to

cover your family expenses.

 When the family income is more than enough to cover our expenses, we treat

ourselves with food once in a while. Sometimes, we also buy material things that

are needed in the house.

 CHAPTERS 2 AND 3

1. What is Chapter One’s title?

 Lesson 1: The rich don’t work for money

2. Robert’s dad used to say “If you want something, work for it.” True or False?

 True

3. What has Robert and Mike been collecting for their first “secret business” ?

 Toothpaste tubes

4. Was their first business successful? Why or why not?

 No, because casting nickel out of lead is illegal.

5. What is the difference between how school and life teaches an individual?

a. School:Lecture ; Life:Lessons

b. School:Activities ; Life:Work

c. School: Recitation ; Life:Talking

6. What is rule number 1?

 Know the difference between asset and liability

7. If you want to be poor or middle class what should you do?

 Spend your life acquiring liabilities.

8. It is what solves most money problems.

 Intelligence

9. What is a liability, according to the book?

 Something that takes money out of your pocket.

10. What is an asset, according to the book?

 Something that puts money in your pocket.

11. What is the rich’s secret number three?

 Mind your own business.

12. The result of people working all of their lives for someone else.

 Financial Struggle

13. What is the best thing about money?

  It can work 24hrs a day and for generations.

14. An important distinction between the rich and the poor when it comes to buying

luxuries.

 Rich people buy luxuries last while poor to middle class people buy

luxuries first.

15. A true luxury is a reward for what?

 Investing in and developing a real asset.

 CHAPTERS 4 AND 5

TAXES PAID BY INDIVIDUALS:

a. By employed family members/relatives?

 None, my family members’ wages are not amounting to the minimum

taxable income.

b. By family business:

 None, we have no family business.

c. How are these taxes paid to BIR?

 Different types of income taxes are paid through BIR by first filling out

forms designated for the specific type of tax and then proceeding to the

BIR office for payment. 

TAXES PAID BY CORPORATIONS:

a. Taxes paid by Corporations:

 Corporate Income Tax - direct tax levied on corporations through their

income or capital.

 Capital Gains Tax - tax levied on the sale of non-inventory assets such as

stocks, bonds, property, etc.

 Final Withholding Tax - due and final tax payment of the recipient of the

income for income tax.

b. Expenses deductible for income tax purposes:

 Depreciation and Depletion

 Goodwill

 Start-up Expenses

 Interest Expenses

 Bad Debts

 Charitable Contributions

 Entertainment Expenses

 Special Deductions

 Fines and Penalties

 Taxes

 Net Operating Losses

 CHAPTERS 6 AND 7

1. Problem with gadgets for online class : Before I started college through online

learning, I only had a cellphone to use and I knew that it would be really inconvenient.

What I did was I asked for my brother’s old laptop and got its screen repaired with my

own money from an online job.

2. Difficulty to understand lessons :  Me and my friends were all having a hard time

absorbing lessons through this online learning set up. We prefer face to face classes

rather than facing a laptop because we believe that that’s where fun in learning is. We

also lack motivation and interest because at the end of the day, we are all just tired

students who learned little to nothing.

3. Balancing house chores and school works : My mother is a very loquacious person,

especially when she does not get what she wants. When she says something, I should follow

immediately or else, I’ll get scolded, even if I am in class. That’s why sometimes, I don’t know

what to do first.