Learning Assessment (Lesson 7)

Republika ng Pilipinas
Lungsod ng Batangas
Colegio ng Lungsod ng Batangas Contact No. (043) 402-
1450

ACCTG 101 – FUNDAMENTALS OF ACCOUNTING PARTS 1

&2MODULE

LESSON 7
MERCHANDISING OPERATIONS

Understanding the Lesson

After reading the lecture notes in the lesson, along with the
supplemental readingmaterials provided, the learners
understanding and comprehension of the lessonwill bemeasured.
The learner is asked to answer the following questions: 1. Describe
the nature of a merchandising business.
2. Contrast trade discounts from cash discounts.
3. Discuss the appropriate treatment of the accounts -
transportation inandtransportation out.

The answers on the above questions will be graded based on the

following criteria: Relevance and quality of content - 75% Originality
and uniqueness - 15%
Grammar and coherence - 10%

Learning Assessment
After finishing the lesson, the following are the activities intended
to evaluateyour learning:

I. Alternate Response. Write True if the statement is correct.

Otherwise, writetheword/s that made the statement wrong and the
word/s which will make the statement correct. 2 credit points will
be given for each number.
1. The chart of accounts for a merchandising entity differs from
that of a service entity. 2. Discounts offered tot he buyer to
encourage early payment are trade discounts. 3. The sales
discounts account is a contra-income account and will have a debit
balance. 4. The ending inventory of one period is the beginning
inventory of the next period. 5. The perpetual inventory system
requires recording the cost of each sale as it occurs. 6. The periodic
inventory system provides an up-to-date amount of inventory
onhand. 7. Merchandise inventory may include goods that are in
transit. 8. If the seller is to shoulder the cost of delivery, the term is
stated as F.O.B. destination. 9. Ending inventory is included in the
calculation of cost of goods available for sale. 10. Terms of 2/10,
n/30 is an example of a trade discount.

Learning Output
Have a compilation of actual source documents. One source
document per sheet. The document must be properly labelled, and
parts must be properly identified. Includealso the journal entry
expected to be made using the source document. Provide atleast
5different source documents. 5credit points for each sheet will be
given. (2 points for theactual document, 2 points for the parts
properly identified and 1 point for the journal entry)
Learning Assessment
Edit with the Docs app (Lesson 7)
Make tweaks, leave comments and share with others to edit at the same time.

NO, THANKS USE THE APP