Fundamentals of Accountancy, Business,
and Management 2
Accountancy, Business, and Management
Name:
Date:
1.2 Preparation of a Statement of Financial Position
Characteristics of SFP Forms
15 minutes
Learning Competency
This activity aims to target the following DepEd competency:
Prepare an SFP using the report form and the account form with proper classification of
items as current and noncurrent (ABM_FABM12-Ia-b-4).
Instructions
Characteristics of SFP classified into its forms
Product
Identify if the following pertains to the report form or account form of presenting the
statement of financial position. Write the correct classification in the Form of SFP column .
Description
Form of SFP
1. Presents assets, liabilities, and
equity vertically.
2. Follows the accounting equation
format.
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Fundamentals of Accountancy, Business,
and Management 2
Accountancy, Business, and Management
3. The accounts are presented
horizontally.
4. Assets are listed on the left side
while Liabilities and Equity are listed
on the right side.
5. Assets are listed first and are
classified as current and
non-current, followed by liabilities,
also classified as current and
non-current and followed by equity.
Teacher’s Feedback
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Lesson 1.2: Preparation of a Statement of Financial Position
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Fundamentals of Accountancy, Business,
and Management 2
Accountancy, Business, and Management
Name:
Date:
1.2 Preparation of a Statement of Financial Position
Preparing the Statement of Financial Position
60 minutes
Learning Competencies
This activity aims to target the following DepEd competencies:
●
Prepare the SFP of a single proprietorship (ABM_FABM12-Ia-b-3).
●
Prepare an SFP using the report form and the account form with proper
classification of items as current and noncurrent (ABM_FABM12-Ia-b-4).
Instructions
A Statement of Financial Position for Sole Proprietorship Business
Product
On December 1, 2020, Mr. Oden opened his electronics shop. The following are the
transactions for December:
December 2020
1
Mr. Oden made a loan from a bank amounting to ₱105,000, payable for 5
years.
4
Mr. Oden bought inventory for ₱65,000.
8
Mr. Oden invested ₱37,000 from his savings.
17
A customer bought a laptop and other accessories amounting to ₱42,000
on account.
23
A customer bought a total of ₱30,000 worth of accessories and paid in
cash.
25
Since Mr. Oden has a small parcel of land. He invested this to the
Lesson 1.2: Preparation of a Statement of Financial Position
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Fundamentals of Accountancy, Business,
and Management 2
Accountancy, Business, and Management
company intended to be used for future expansion worth ₱60,000.
29
The business bought additional inventory amounting to ₱58,000 on
account.
31
The business made its statement of financial position for 2020.
Prepare the Statement of Financial Position for Mr. Oden’s electronics business. Supply the
correct answer after each number.
Oden’s Electronics Shop
Balance Sheet
As of December 31, 2020
Assets
Current Assets
Total current assets
Fixed (Long-Term) Assets
Total Assets
.
Liabilities and Owner’s Equity
Current Liabilities
Long-Term Liabilities
Total liabilities
Owner’s Equity
Total Liabilities and Owner’s Equity
Lesson 1.2: Preparation of a Statement of Financial Position
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Fundamentals of Accountancy, Business,
and Management 2
Accountancy, Business, and Management
Suggested Rubric for Grading
The rubric below is a suggested one. Your teacher may modify the rubric based on your
needs. Consult your teacher for the final rubric.
Questions
Performance Levels
Criteria
1
Beginning
Proficiency
2
Average
Proficiency
Accuracy of
Classifications
Most accounts were
Most accounts were
All accounts were
classified incorrectly
classified correctly
classified correctly
under current and
under current and
under current and
non-current assets
non-current assets
non-current assets
and liabilities.
and liabilities. A few
and liabilities.
3
Advanced
Proficiency
Suggested
Weight
Score
×3
were classified
incorrectly.
Computation
The totals were
Some accounts were
The totals are
incorrect, indicating
incorrectly classified,
correct and reflect
an undeveloped skill
but the totals are
the student’s
in preparing a
correct, indicating a
mastery of
Statement of Financial
developing skill in
preparing a
Position.
preparing a
Statement of
Statement of Financial
Financial Position.
×2
Position.
Total Possible Score
15
Teacher’s Feedback
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Lesson 1.2: Preparation of a Statement of Financial Position
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