Note: Kung sasagot po kayo ng pre and post assessment, sa inline comment po kayo sumagot para ma-check ko. At kung may mga tanong kayo, I already provided a statement for inline comments. Good luck and enjoy learning!
Additional: Ang maraming scores sa post assessments ay bibigyan ko ng tips (any tips, pwedeng tips sa pag-aaral o kung paano sasagot ng business transactions). I'll send it through PM so, answer wisely!
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PRE-ASSESSMENT
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Write TRUE if the statement is correct and FALSE if not.
1. Liabilities are decreases in economic benefits during the accounting period in the form of outflows of assests.
2. Assests is the increase in in economic benefits during the accounting period in the form of inflows of cash.
3. Equity are the owner's claims in the business.
4. Current Assets are assets that can be realized 1 year after year-end date.
5. Tangible Assets are non-physical assets.
6. Accounts Payable are amounts due, or payable to.
7. Capital is the value of cash.
8. Unearned Income is the residual interest of the owner from the business.
9. Liabilities are the debts and obligations of the company to another entity.
10. Current Liabilities are liabilities that do not full due within one year after year-end.
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2.0 Types of Major Accounts
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The top 5 major accounts are assets, liabilities, owner's equity, income and expenses.
1. ASSETS - are the resources owned and controlled by the firm. Assets has current, non-current, tangible, and intangible assets.
CURRENT ASSETS
Current Assets are assets that can be collected or used up one year after year-end date.
Ito 'yong mga assets na matatanggap mo or magagamit mo 1 year and below.
Account titles used for Current Assets:
• Cash is money on hand or in banks.
For example, Mr. Yoo purchased supplies for 1,500 pesos on cash. Ibig sabihin, binili niya 'yong supply on cash at hindi inutang. Another example is, Mr. Yoo paid the rent of his business.
• Accounts Receivable are amounts due from customers arising from credit sales or services.
For example, Mr. Yoo sold merchandise for 20,000 pesos on account. Ibig sabihin, ay tatanggapin pa lang ni Mr. Yoo ang bayad na inutang ng kaniyang buyer sa pinagkasunduan na terms.
BINABASA MO ANG
Wonders of Accounting
Non-FictionThis book is dedicated to those students that will choose Accountancy, Business and Management (ABM) as their academic track in Senior High School (SHS). Book cover by HOTARU_ZEROTWO Enjoy learning!
