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    Diliman Preparatory School: Basic Education Department-High School SCHOOL YEAR 2019-2020 First Semester Fabm 2

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    Althea Nicole Canapi
    This document contains an accounting worksheet assigning classifications, normal balances, and debit/credit rules to various accounts. It also lists business transactions requiring identification of the accounts to debit and credit. The worksheet is assessing a student's understanding of basic accounting principles like classifying accounts as assets, liabilities, equity, revenue and expenses, and applying the fundamental rules of debit and credit to record transactions for these accounts.

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    © All Rights Reserved
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    Diliman Preparatory School: Basic Education Department-High School SCHOOL YEAR 2019-2020 First Semester Fabm 2

    Uploaded by

    Althea Nicole Canapi
    108 views2 pages
    This document contains an accounting worksheet assigning classifications, normal balances, and debit/credit rules to various accounts. It also lists business transactions requiring identification of the accounts to debit and credit. The worksheet is assessing a student's understanding of basic accounting principles like classifying accounts as assets, liabilities, equity, revenue and expenses, and applying the fundamental rules of debit and credit to record transactions for these accounts.

    Original Description:

    ABM

    Original Title

    FABM-2-Activity

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    This document contains an accounting worksheet assigning classifications, normal balances, and debit/credit rules to various accounts. It also lists business transactions requiring identification of the accounts to debit and credit. The worksheet is assessing a student's understanding of basic accounting principles like classifying accounts as assets, liabilities, equity, revenue and expenses, and applying the fundamental rules of debit and credit to record transactions for these accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    108 views2 pages

    Diliman Preparatory School: Basic Education Department-High School SCHOOL YEAR 2019-2020 First Semester Fabm 2

    Uploaded by

    Althea Nicole Canapi
    This document contains an accounting worksheet assigning classifications, normal balances, and debit/credit rules to various accounts. It also lists business transactions requiring identification of the accounts to debit and credit. The worksheet is assessing a student's understanding of basic accounting principles like classifying accounts as assets, liabilities, equity, revenue and expenses, and applying the fundamental rules of debit and credit to record transactions for these accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    DILIMAN PREPARATORY SCHOOL

    BASIC EDUCATION DEPARTMENT- HIGH SCHOOL


    SCHOOL YEAR 2019-2020
    FIRST SEMESTER

    FABM 2

    NAME: Canapi, Althea Nicole T. GRADE AND SECTION: 11 Lucresia Kasilag


    TEACHER: MS. CLARISSE C. DEBLOIS DATE: April 28, 2020

    Directions: Below are list of accounts. Write the classification of each account on Column A (e.g. asset, liability,
    capital, revenue, or expense), next is determine whether debit or credit for its increase on Column B
    and for its decrease on Column C, then its normal balance on Column D.

    A B C D
    Classification Increase Decrease Normal Balance
    List of Accounts

    Asset Debit Credit Debit


    E.g. Cash
    1. Automobile Asset Debit Credit Debit
    2. Accounts Payable Liability Credit Debit Credit
    3. Accounts Receivable Asset Debit Credit Debit
    4. Building Asset Debit Credit Debit
    5. Commission Income Revenue Credit Debit Credit
    6. D. Dumrique, Capital Capital Credit Debit Credit
    7. D. Dumrique, Drawing Capital Debit Credit Debit
    8. Equipment Asset Debit Credit Debit
    9. Insurance Expense Expense Debit Credit Debit
    10. Interest Payable Liability Credit Debit Credit
    11. Interest Receivable Asset Debit Credit Debit
    12. Miscellaneous Expense Expense Debit Credit Debit
    13. Notes Payable Liability Credit Debit Credit
    14. Notes Receivable Asset Debit Credit Debit
    15. Prepaid Rent Asset Debit Credit Debit
    16. Prepaid Insurance Asset Debit Credit Debit
    17. Professional Fees Revenue Credit Debit Credit
    18. Rent Revenue Revenue Credit Debit Credit
    19. Salaries Expense Expense Debit Credit Debit
    20. Salaries Payable Liability Credit Debit Credit
    21. Service Revenue Revenue Credit Debit Credit
    22. Supplies Asset Debit Credit Debit
    23. Supplies Expense Expense Debit Credit Debit
    24. Taxes Payable Liability Credit Debit Credit
    25. Taxes Expense Expense Debit Credit Debit

    FABM 2 Page 1
    Directions: Below are list of business transactions. For each of the transactions, determine the
    account/s to be debited and the account/s to be credited.

    Business Transactions Debit Credit


    E.g. J, Ogbinar invested cash in the business Cash J, Ogbinar, Capital

    1. Issued check in payment of the equipment Equipment Cash


    purchased.
    2. Paid creditors on account. Accounts Payable Cash

    3. Purchased supplies on account. Office Supplies Accounts Payable


    4. Borrowed money from the bank issuing a
    Cash Notes Payable
    promissory note.
    5. Issued check in payment for the promissory note. Notes Payable Cash
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    6. Paid cash for the business advertisement. Cash
    Expense

    7. Bought additional supplies on account. Office Supplies Accounts Payable

    8. J, Ogbinar withdrew cash for personal use. J, Ogbinar, Drawing Cash

    9. Billed clients for services rendered on account. Notes Receivable Service Revenue

    10. The owner transferred his personal computer J, Ogbinar, Drawing Office Equipment
    for personal use.
    11. Paid office rent for the month. Rent Expense Cash

    12. Paid the salaries of the employees. Salaries Expense Cash

    13. Returned some supplies purchased on 7. Accounts Receivable Purchased Returns


    14. Received cash for services rendered. Cash Service Revenue
    Miscellaneous
    15. Paid miscellaneous for the month. Cash
    Expense
    “DON’T STUDY WITH A FEAR OF FAILING. STUDY WITH A HOPE OF SUCCEEDING.”

    FABM 2 Page 2

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