Claret School of Zamboanga City

LEVEL II PAASCU – ACCREDITED

Ruste Drive, San Jose Cawa-Cawa, Zamboanga City
Senior High School
S.Y. 2020-2021

LEARNING ACTIVITY SHEET IN GRADE 11 FUNDAMENTALS OF ACCOUNTANCY,

BUSINESS AND MANAGEMENT 1

Activity No. 1 (Part 1) (Fourth Quarter)

Activity Title: Accounting Cycle for a Service Business
Learning Target/s: At the end of the lesson, the students CAN:
1. describe the nature of transactions in a service business.
1.1. define adjusting journal entries; and
1.2. record transactions of a service business in the general journal.
2. post transactions in the ledger.
2.1. illustrate the format of a ledger.
3. prepare a trial balance.
3.1. define a trial balance; and
3.2. know the importance of the trial balance.
Reference/s: Fundamentals of Accountancy, Business and Management 1, pp. 43-88.
Value/s: Good Decision-Making and Humility

I. Essential Ideas
A trial balance is a diagnostic tool. It acts as a first line of defense against misrecordings (in journal)
and mispostings (in ledger).
Refer to your textbook on pages 43-88

II. Learning Experiences

A. Clarifying Understanding
Directions: Do the following activity.
1. Analyze the following transactions and record it in the journal. Then Post it to the ledger and prepare a
trial balance.
Transactions:
A. Investment of Capital. Mr. Telegaku invested P9, 000,000 into the business on January 1, 2014.
B. Payments of business permit fees. On May 12, 2014, he pays a total of P1, 200 evidenced by an official receipt
from the city hall.
C. On May 30, 2014, invest an additional P5,000,000 for capital.
D. Purchase of building. On June 2, 2014, Mr. Telegaku purchases a building costing P12.35M. He pays P5M in
cash and signs a note with a bank for the balance.
E. Payment of fire insurance premium. Matalino Dormitory took a fire insurance policy with AntiPirena
Insurance Corporation, which requires the dorm to pay a premium of P6,000 every January 1 and July 1, each
premium for 6 months of fire insurance. The dorm pays its first premium on January 2, 2015.
F. Receipt of cash from dormers. It is January 5, 2015 and Matalino Dormitory is finally in business. Matalino
Dormitory received cash from its dormers in the amount of P60, 000. Following the contract provision, “One
month advance, One Month Deposit’’.
G. Receipt of cash for January rent. Matalino Dormitory received P30, 000 from dormers in payment of their
January rent.