BMSH2003

NAME: SECTION: SCORE:

PRE-TEST
Answer the following questions by applying the accounting equation. Write your answer on the space provided.
Show your computations. (8 items x 5 points)

1. The assets of ABC Company amount to P980,000 and the owner’s equity is P540,000. What is the amount
of liabilities? _____________

2. The liabilities and owner’s equity of DEF Company amount to P3,400,000 and, P2,300,000, respectively.
What is the amount of the company’s assets? _____________

3. GHI Company has owner’s equity of P7,500,000, and total assets of P12,640,000. What is the amount of
liabilities? _____________

4. The liabilities of JKL Company are equal to one-third of the total assets. The owner’s equity is P2,400,000.
What is the amount of liabilities? _____________

5. At the beginning of the current year, MNO Company’s assets amount to P11,000,000 and owner’s equity
amounting to P5,000,000. During the year, assets increased by P3,000,000, while liabilities decreased by
P500,000. How much is the owner’s equity at the end of the year? _____________

6. Patrick Ramos is the Owner of PQR Bookstore. At the end of the accounting period, December 31, 201A,
the business has total assets of P4,200,000 and liabilities of P1,600,000. How much is Patrick Ramos,
Capital as of December 31, 2011? _____________

7. At the beginning of 201A, TUV Company has total assets of P3,560,000 ad total liabilities of P980,000.
During the year, assets decreased by P600,000 while liabilities increased by P850,000. How much is the
owner’s equity at December 31, 201A? ____________

8. At the end of the year 201A, XYZ Company has total assets of P5,500,000 and total liabilities of P1,900,000.
During the year, assets increased by P850,000, while liabilities increased by P400,000. What is the amount
of owner’s equity at the beginning of 201A? _____________

Rubric for problem-solving:

Performance Indicators Points
Correct accounts and amounts used 3
Computed final amounts are correct/balanced 2
Total 5

02 Worksheet 1 *Property of STI

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