ACTIVITY SHEETS IN FUNDAMENTALS OF

ACCOUNTANCY, BUSINESS AND MANAGEMENT 2 

GRADE 12, 1 QUARTER, WEEK 2 ST

Name: NICOLAS, IRISH HAZEL D. Date: _____________

Grade/Section: G12- ABM BLOCK 7 COELHO Score:____________

Title of the Activity: Take it Easy!

Most Essential Learning Competency: Identify the elements of the SCI and describe
each of these items for a service business and a merchandising business.

 ABM_FABM12-Ic-d-5

Directions: Write the correct word or words to complete the statement. 

Comprehensive income 1. An example to this is gains or losses on hedging derivatives 

Single approach 2.An approach used on preparing statement of comprehensive income that
shows expense by its nature. 
Income 3.An increases in economic benefits during the period in the form of inflows or
enhancements of assets or decreases of liabilities that result in increases in equity 
Net loss 4. This occurs when revenue is less than expenses.
 Revenues 5.It arises in the course of the ordinary activities of a business and is referred to by a
variety of different names including sales, fee, interest, and etc.
 
Comprehensive income 6.The difference between an Income Statement and SCI …
Single proprietorship 7.The nature of business for a single step statement of comprehensive
income 

Merchandising 8.The nature of business for a multi-step statement of a comprehensive

income 
 
Salaries Expense 9.the expenses to be given to the company’s employees for the services
they have rendered. 

Utilities Expense 10.The expenses usually referred to by Meralco, Maynilad and PLDT
Name: NICOLAS, IRISH HAZEL D, Date:_____________
Grade/Section: G12- ABM BLOCK 7 COELHO Score:____________

Title of the Activity: Challenge Me!

Most Essential Learning Competency: Identify the elements of the SCI and describe
each of these items for a service business and a merchandising business.
 ABM_FABM12-Ic-d-5

Directions: Write TRUE if the statement is correct and FALSE if the statement is incorrect.  If
your answer is false, write the word or phrase that makes the statement incorrect and rewrite the
correct answer. 
_TRUE___1. The revenue earned by a service business for rendering services for a fee is
commonly eferred to as Service Income or Service Revenue. 
_FALSE___2. A Statement of Comprehensive Income may be presented using a “multi-step
statement” presentation only? 
_TRUE____3. Revenue includes both income and gains. 
_TRUE____4. If expenses are greater than income, the difference is net loss. 
_TRUE____5.The revenue earned by the merchandising business from its sales of goods is
commonly referred to as Sales. 
_TRUE____6. Income increases economic benefits during the period in the form of inflows of
cash from rendering services. 
_TRUE_____7. The statement of Comprehensive Income shows information on an entity’s
financial performance during the period. 
_FALSE_____8. A Statement of Comprehensive Income that shows expenses by its function is
referred to as prepared using a single-step approach. 
_TRUE_____9. Expenses encompass both expenses and losses. 
_TRUE____10.The statement of profit and loss and other comprehensive income is          
synonymous to the income statement.

Name: NICOLAS, IRISH HAZEL D. Date:_____________

Grade/Section: G12- ABM BLOCK 7 COELHO Score:____________

Title of the Activity: Remember me!

Most Essential Learning Competency: Prepare an SCI for a service business using
the single-step approach.
  ABM_FABM12-Ic-d-6

Directions: Solve for the unknown (Remember the formula   Income minus 
Expenses plus Comprehensive Income is equal to Net Income or Net Loss) 

1.  Service Income  Php35,000.00

  Expenses  (Php10,000.00) 
  Net Income/(Net Loss)  Php25,000.00 
     
2.  Service Income  Php35,000.00 
  Expenses  (Php15,000.00) 
  Net Income/(Net Loss)  Php20,000.00 
  Other Comprehensive Income  Php5,000.00 
  Comprehensive Income  Php25,000 
     
3.   Service Income  Php65,000 
  Expenses  Php47,000.00
  Net Income/(Net Loss)  Php18,000 
  Other Comprehensive Income  2,000 
  Comprehensive Income  Php20,000 
     
4.   Service Income  Php58,000 
  Expenses  (Php38,0000) 
  Net Income/(Net Loss)  P20,000.00
  Other Comprehensive Income  Php10,000 
  Comprehensive Income  Php30,000 
     
5.  Service Income  Php80,000 
  Expenses  (Php120,000) 
  Net Income/(Net Loss)  (Php40,000.00)

Name: NICOLAS, IRISH HAZEL D. Date:_____________

Grade/Section: G12- ABM BLOCK 7 COELHO Score:____________

Title of the Activity: I Can Do This!

Most Essential Learning Competency: Prepare an SCI for a service business using
the single-step approach.
 ABM_FABM12-Ic-d-6

Directions: Prepare a Statement of Comprehensive Income for the following independent

transactions. Use your surname as your company name.   

1. Service Revenue Php95,000.00; Salaries Expense Php5,000.00; Transportation Expense

Php15,000.00; Rent Expense Php20,000.00; Utilities Expense Pph3,000.00; Other
Comprehensive Income is Php8,000.00 

Company Name Statement of Comprehensive Income

Service Revenue Php95,000.00

Rent Expense Php20,000.00

Salaries Expense Php5,000.00

Utilities Expense Php3,000.00

Transportation Expense Php15,000.00

Php43,000.00

Net Income Php52,000.00

Comprehensive Income Php9,000.00
Net Comprehensive PHP 61,000.00

 
2. Salaries Expense Php25,000.00; Transportation Expense Php1,000.00; 
Rent Expense Php10,000.00; Utilities Expense Php5,000.00;  and Service Revenue is
Php40,000.00.
  
Company Name Statement of Comprehensive Income

Service Revenue Php40,000.00

Rent Expense Php10,000.00

Salaries Expense Php25,000.00

Utilities Expense Php5,000.00

Transportation Expense 1,000.00

Php41,000.00
Service Revenue Php40,000.00

Net Loss Php1,000.00