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Exercise Workbook For Students On Entrepreneurship

This document contains an exercise workbook for students on entrepreneurship. It provides 10 exercises that simulate pre-operational transactions for a new business, such as initial investment, cash deposits, rent and supplies payments. For each transaction, students are asked to record the journal entry using a system-generated approach and provide a screenshot of the output. The exercises cover common starting expenses like taxes, licenses, advertising, repairs and purchases of equipment.

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zhaks //
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84 views11 pages

Exercise Workbook For Students On Entrepreneurship

This document contains an exercise workbook for students on entrepreneurship. It provides 10 exercises that simulate pre-operational transactions for a new business, such as initial investment, cash deposits, rent and supplies payments. For each transaction, students are asked to record the journal entry using a system-generated approach and provide a screenshot of the output. The exercises cover common starting expenses like taxes, licenses, advertising, repairs and purchases of equipment.

Uploaded by

zhaks //
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

EXERCISE WORKBOOK
035

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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Exercise 4.1-4.10 printed on 2/18/2021 2:44 PM


EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

4. Pre-Operational Transactions
As part of the commencement of the business, we will need to establish pre-operational expenses,
rather transaction, such as investment, asset acquisition, etc.

The ff. exercises are given as a simulation to pre-operational transactions you can see all throughout the
course of a business.

Exercise 4.1
On January 04, 20XX, the owner invested cash amounting to Php 600,000 as its initial investment.

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made.

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.2
On January 04, 20XX, transferred Php 200,000 to bank account via cash deposit

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made.

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.3
On January 04, 20XX, paid rent for 3 months, starting from January until March 20XX amounting to Php
10,000 per month. Next rent payment after this one will be on April 2, 20XX.

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.4
Still on January 04, 20XX, the entity paid taxes and licenses (Mayor’s Permit, DTI Permit and BIR
Registration) through cash worth Php 15, 000.

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

Page 5 / 11

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.5
On January 04, 20XX, spent Php 10,000 for tarpaulin, fliers and other advertising materials (cash payment)

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.6
On January 05, 20XX, spent Php 5,000 cash for the repainting and other repair costs of the rented shop

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.7
On January 05, 20XX, bought supplies amounting to Php 15,000

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.8
On January 05, 2020, the entity issued a check for the purchase of computers, printers and calculators for
a total amount of Php 150,000.

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.9
On January 06, 2020, purchased office tables, chairs and furnitures thru cash worth Php 10,000.

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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EXERCISE WORKBOOK FOR STUDENTS on ENTREPRENEURSHIP

Exercise 4.10
On January 07, 20XX, the entity paid Php 6,000 cash for other expenses incurred

Record the transaction using the System-generated Approach Entry and screenshot the journal entry
made

Output Screenshot

Input the screenshot of your output here

FIT ACADEMY l GF King’s Court Bldg II., Chino Roces cor. Delarosa Sts., Makati City 1200, Philippines l Telephone Number: 63.2.759.4348 l www.fitacademy.ph

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