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ACF FABM2 Worksheet Q1 Week-4

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Republic of the Philippines
Department of Education
Region IV-A CALABARZON
SCHOOLS DIVISION OF BATANGAS PROVINCE
TIPAS INTEGRATED NATIONAL HIGH SCHOOL
Tipas, San Juan, Batangas
Fundamentals of Accountancy, Business and Management (FABM) 2
Worksheet
Quarter 1 Week 4
Name of Learner: ___________________________
Date: _____________
Grade Level/Strand/Section: ______________
Score: ____________
Learning Competency: Prepare an SCE for a single proprietorship. (ABM_FABM12- Ie-9)
Activity 1: MULTIPLE CHOICE
Direction: Write the letter of the correct answer beside each number.
1. The equity section of Entity A’s statement of financial position shows two capital accounts as
follows: Mr. A's, Capital and Ms. B's, Capital. Entity A is most likely which of the following
forms of business organization?
a. Sole proprietorship
c. Corporation
b. Partnership
d. Cooperative
2. The equity section of Entity A’s statement of financial position shows a line item described as
“Retained earnings.” Entity A is most likely which of the following forms of business
organization?
a. Sole proprietorship
c. Corporation
b. Partnership
d. Cooperative
3. Which of the following decreases equity?
a. Additional investment or contribution to the business by the owner.
b. Earning of profit by the business.
c. Income
d. Drawings by the owner from the business
4. Which of the following increases equity?
a. Withdrawals from the business by the owner.
b. Excess of expenses over income
c. Incurrence of loss by the business.
d. Excess of income over expenses
Nurturing Minds, Transforming Lives
Excellent Governance and Service
TIPAS INTEGRATED NATIONAL HIGH SCHOOL
Address: Tipas, San Juan, Batangas
Telephone Nos: (O43) 575 9227 | (043) 575-5489 | (043) 575-9480 | (043) 575-9474
Email Add: tipashigh_batangas@yahoo.com
Republic of the Philippines
Department of Education
Region IV-A CALABARZON
SCHOOLS DIVISION OF BATANGAS PROVINCE
Tipas NATIONAL HIGH SCHOOL (Grade 7-12)
Tipas, SAN JUAN, BATANGAS
5. Which of the following transactions affects owner’s equity?
a. Collection of accounts receivable
b. Purchase of equipment through cash payment
c. Incurrence of expense
d. Purchase of inventories on account
Activity 2: Preparation of SCI
Entity A started with a beginning capital of ₱180,000 on January 1, 20x1. The following were the
transactions during the year:
a. Mr. A, the sole proprietor of Entity A made additional capital investments of ₱360,000 to the
business.
b. Total income earned amounted to ₱1,000,000.
c. Total expenses incurred amounted to ₱560,000.
d. Mr. A made drawings of ₱140,000 from the business.
Requirement:
Prepare the statement of changes in equity for a single proprietorship using the pro-forma
statement provided below. Be sure to place a proper heading for the statement.
PRO-FORMA STATEMENT
Mr. A, Capital - beg.
Additional investment
Drawings
Profit (Loss)
Mr. A, Capital - end.
Prepared by:
ANALYN C. FRUELDA
Subject Teacher
“It does not matter how slowly you go as long as you do not stop.” - Confucius
Nurturing Minds, Transforming Lives
Excellent Governance and Service
TIPAS INTEGRATED NATIONAL HIGH SCHOOL
Address: Tipas, San Juan, Batangas
Telephone Nos: (O43) 575 9227 | (043) 575-5489 | (043) 575-9480 | (043) 575-9474
Email Add: tipashigh_batangas@yahoo.com
Republic of the Philippines
Department of Education
Region IV-A CALABARZON
SCHOOLS DIVISION OF BATANGAS PROVINCE
TIPAS INTEGRATED NATIONAL HIGH SCHOOL
Tipas, San Juan, Batangas
“It does not matter how slowly you go as long as you do not stop.” - Confucius
- END -
Nurturing Minds, Transforming Lives
Excellent Governance and Service
TIPAS INTEGRATED NATIONAL HIGH SCHOOL
Address: Tipas, San Juan, Batangas
Telephone Nos: (O43) 575 9227 | (043) 575-5489 | (043) 575-9480 | (043) 575-9474
Email Add: tipashigh_batangas@yahoo.com
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