Do’s Don’ts

1. Use of blue or black ballpen only. 1. Use of pencil and friction pen is not allowed.

2. An error is corrected by: first, crossing it out with a 2. Use of erasers or correction fluid is not allowed.
straight line; then, writing the correction on top of the
error and not over it. 3. Peso signs are not placed in Journals and Ledgers.

3. Put peso signs in financial statements and in the
presentation of solutions to problems.
4. Use ruler.
5. Use own calculator during exams.
4. Lines drawn with other guides such as cardboards,
Ids, credit cards, phone cards, edge of calculators are
to be discouraged.
5. No borrowing or sharing of calculators during exams.
Use of the cellphone inside the classroom even as
calculator is not allowed. Programmable calculators
are not allowed. (See www.prc.gov.ph for list of
acceptable non-programmable calculators)

6. Unacceptable Solution Format:

6. Supporting computations to problems must be
presented in good accounting format. Capital, end = Assets, end - Liabilities, end

Sample Problem: The following account balances 13 = 20 - 7

were taken from the records of X Trading.
Capital, beg = Assets, beg - Liabilities, beg
Assets, beg. 10 Net Income 4
Assets, end 20 Withdrawal 2 5 = 10 - 5
Liabilities, beg 5
Liabilities, end 7 Capital, beg 5
Add: Add’l Investment 6
Determine: amount of additional investment Net Income 4 10
Subtotal 15
Acceptable Solution Format: less: Withdrawal 2
Capital, end 13
Assets, end 20 Capital, end 13 ==
Less:Liabities, end 7 Add: Withdrawal 2
Capital, end 13 Sub-total 15 The T-account is a tool to be used for
== Less:Net Increase 4 analysis but not to be presented as
Capital, beg 5 9 supporting computation like the one shown
Assets, beg 10 Additional below:
Less:Liabilities, beg 5 investment 6
Capital, beg 5 == X, Capital
==
withdrawal 2 beg bal 5
net income 4
addl inv 6

ending bal 13
 Do’s Don’ts

7. Proper presentation of Journal Entries must be

observed strictly.

Examples:

Note the following errors:

1. Explanation extends to the debit column.
2. The “#” is use in place of an explanation.
Using arrows to indicate correction or movement.
3. Credit entry came ahead of the debit entry.
The use of arrows to correct the placement of an entry.
Writing centavos with decimal points.
4. Writing centavos with only one decimal place.
Writing accounts in abbreviations or initials.
Improper use or use of another column to correct an error.
5. Use of a different set or sets of money columns.
 Do’s Don’ts
8. Columnar worksheets must be properly used.

a. Only the ruled side must be used.

The back side must not be used, not even for
scratch work.

b. The worksheet must be folded properly, equally in

two with the ruled part folded inside.

c. The name must be written legibly on the top right

hand corner of the worksheet side that is not ruled.

John dela Salle

ACTBAS1 C40

d. The worksheet should be divided equally in two and therefore no answers should start from one side and then
extend to the other side unless the worksheet is being used for horizontally long reports.

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