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
