PERFORMANCE TEST

Specific Instruction for the Candidate

Qualification BOOKKEEPING NCIII

Unit of Competency JOURNALIZE TRANSACTION

Supplies/Materials/Equipment: Pencil, Eraser, Pen, Journal Paper/Book,

Tables, Chairs and Calculators

General Instruction: Given list of transaction, you should be able to accurately

journalize each transaction following the standard journal format within 1 hour.

Specific Instruction:

1. Read the transactions and develop a chart of accounts applicable to the

business
2. Journalize the transactions.

Date Developed: Nov. Document No.

16,2020

Bookkeeping Date Revised: Issued by:

NCIII Developed by: Page 1 of 3

ROY VICTOR F.
SUMUGAT Revision # 000
Chart of Accounts and Journalizing Transactions

The following transactions are from Gorgeous Photos, a recently established

photography and video studio for the month of September 2020:

Sept. 1 Deposited P500,000 in a bank account under the business name

3 Paid three month’s rent deposit and one-month advance - P40,000
4 Transferred to the business personal photography equipment
worth P89,000
7 Hired a studio assistant to be paid P450.00 a day based on a 26-
work month starting immediately
8 Purchased photography supplies on account, P24,000
9 Ordered additional photography equipment on Sept.7, P34,000
10 Received cash for previously unbilled portraits, P12,500
11 Billed other clients P10,500 for video editing services
13 Purchased office equipment for cash P46,000
14 Paid 50% of the photography supplies bought last Sept. 8
16 Paid salary of studio assistant P3,150
18 Received payments from customers billed last Sept. 11, P5,250
21 Paid electricity bill for the month, P4,300
23 Paid telephone bill for the month, P900
26 Received payments from various clients, P5,600
28 Withdrew P15,000 from the business for personal use
30 Paid salary of studio assistant, P5,400

Date Developed: Nov. Document No.

16,2020

Bookkeeping Date Revised: Issued by:

NCIII Developed by: Page 2 of 3

ROY VICTOR F.
SUMUGAT Revision # 000
 Performance Criteria Checklist

CRITERIA
YES NO
Did you….
1. Prepare journal entry in accordance with industry
practice and generally accepted accounting
principles/Philippine Financial Reporting
Standards for transactions and events.
2. Determine the correct amount for each column
3. Answered with 100% accuracy

Date Developed: Nov. Document No.

16,2020

Bookkeeping Date Revised: Issued by:

NCIII Developed by: Page 3 of 3

ROY VICTOR F.
SUMUGAT Revision # 000