Business Finance

Quarter 3 Performance Task No. 2 (Group2)

Members:

Gamozo, Clint Mirasol, Kyla

Dela Peña, Allyha Khim Rafael, Andrea Bonnie

Dely, Jane Tamisan, Elloisa Marie

Laurente, Janelle Villa, Rose Mae

Mendiola, Hannah Vito, Dory Jhen

Analyze the transaction of Zia Corporation and perform the following guide task. 15
points. (3pts. each item)

1. Purchased computer set to be used in her work from home on account payable in two
years at an amount of ₱2,000.
2. Purchased ₱6,000 merchandise (600 units) on credit.
3. Borrowed ₱20,000 from a bank for three years.
4. Received a 60-day, 12% note with principal amount of ₱5,500 from Andres Cruz for the
service offered.
5. Paid rent in advance for two months amounting to ₱10,000.

Guide Task:
1. Write the accounts involved in every transaction.
2. Write in the account type (current asset /non-current asset /current liabilities
/non-current liabilities)
3. On the effect write with flow of funds or without flow of funds.
Answers:

SEQ ACCOUNTS ACCOUNT EFFECT

INVOLVE TYPE

Computer Equipment Non-current Asset Without Flow of

1 Funds
Accounts Payable Non-current Liabilities

Inventory Current Assets Without Flow of

2 Funds
Accounts Payable Non-current Liabilities

Cash Current Asset With Flow of

3 Funds
Accounts Payable Non-current Liabilities

Notes Receivable Current Asset Without Flow of

4 Funds
Service Revenue Equity

Prepaid Rent Current Asset With Flow of

5 Funds
Cash Current Asset