Scribd Logo
Upload

Welcome to Scribd!

  • 154 views

    (Template) Prelim Fabm1

    Uploaded by

    Christine Yarso Tablo
    This document appears to be a test on fundamentals of accountancy, business, and management taken by a student named Christine Y. Tablo. The test has four sections which assess the student's knowledge of: 1. Identifying the type of business (service, merchandising, or manufacturing) for 10 different companies. 2. Calculating missing amounts in tables presenting assets, liabilities, and owner's equity for 20 sets of numbers. 3. Solving word problems relating to business concepts such as owner's equity, assets, liabilities, etc. 4. Answering short questions about priorities of external users, importance of recording transactions, and examples of different types of businesses

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    (Template) Prelim Fabm1

    Uploaded by

    Christine Yarso Tablo
    154 views3 pages
    This document appears to be a test on fundamentals of accountancy, business, and management taken by a student named Christine Y. Tablo. The test has four sections which assess the student's knowledge of: 1. Identifying the type of business (service, merchandising, or manufacturing) for 10 different companies. 2. Calculating missing amounts in tables presenting assets, liabilities, and owner's equity for 20 sets of numbers. 3. Solving word problems relating to business concepts such as owner's equity, assets, liabilities, etc. 4. Answering short questions about priorities of external users, importance of recording transactions, and examples of different types of businesses

    Original Title

    [Template] Prelim Fabm1

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document appears to be a test on fundamentals of accountancy, business, and management taken by a student named Christine Y. Tablo. The test has four sections which assess the student's knowledge of: 1. Identifying the type of business (service, merchandising, or manufacturing) for 10 different companies. 2. Calculating missing amounts in tables presenting assets, liabilities, and owner's equity for 20 sets of numbers. 3. Solving word problems relating to business concepts such as owner's equity, assets, liabilities, etc. 4. Answering short questions about priorities of external users, importance of recording transactions, and examples of different types of businesses

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    154 views3 pages

    (Template) Prelim Fabm1

    Uploaded by

    Christine Yarso Tablo
    This document appears to be a test on fundamentals of accountancy, business, and management taken by a student named Christine Y. Tablo. The test has four sections which assess the student's knowledge of: 1. Identifying the type of business (service, merchandising, or manufacturing) for 10 different companies. 2. Calculating missing amounts in tables presenting assets, liabilities, and owner's equity for 20 sets of numbers. 3. Solving word problems relating to business concepts such as owner's equity, assets, liabilities, etc. 4. Answering short questions about priorities of external users, importance of recording transactions, and examples of different types of businesses

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    SENIOR HIGH SCHOOL DEPARTMENT

    PRELIMINARY EXAMINATION
    FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 1
    1st Semester A.Y. 2021 - 2022
    Name:Christine Y. Tablo Date:September 18,2021
    Grade & Sec:G-12 Copernicus Score: _______________

    I. Identify the type of business operations (service, merchandising or manufacturing) of the


    following companies. Write/Type your answer on the space provided.
    1. National Bookstore SERVICE
    2. St. Jude Hospital SERVICE
    3. Procter and Gamble MANUFACTURING
    4. Adamson University SERVICE
    5. Smart Telecommunications SERVICE
    6. Apple MANUFACTURING
    7. Manila Hotel SERVICE
    8. 7-11 MERCHANDISING
    9. Philippines Airlines SERVICE
    10. Kenny Rogers SERVICE

    II. Find the missing amount.

    ASSETS LIABILITIES OWNER’S EQUITY


    11. 650,000 340,000 310,000
    12. 600,000 295,000 305,000
    13. 967,000 307,000 660,000
    14. 788,000 345,000 443,000
    15. 845,000 312,000 533,000
    16. 1,575,00 588,000 987,000
    17. 1,896,000 586,000 1,310,000
    18. 2,000,000 967,000 1,033,000
    19. 3,708,000 1,653,000 2,055,000
    20. 3,056,000 1,123,000 1,933,000

    III. Answer the following questions. Show your solutions in good form.
    1. The economic resources of a business amount to P600,00 and its economic obligations
    amount to P285,000. What would be its residual interest?
    Economic Resources(Assets)=600,00

    Fundamentals of Accountancy, Business and Management 1 1


    Economic Obligations(Liabilities)=285,000

    Solution:
    Owner's Equity=Assets-Liabilities
    =600,00-285,000
    Owner's Equity =225,000

    2. The total assets of Zed Company amount to P7,000,000 and the owner has a 75% interest in
    it. How much are the total liabilities of Zed?
    Assets=7,000,000 Owner's Equity=75%=0.75
    Solution:
    Liabilities=Assets-Owner's Equity
    =7,000,000-0.75
    Liabilities =6,999,999.25
    3. If the owner’s equity is thrice th total liabilities which is ¼ of total assets, what would be the
    owner’s equity of the business? The amount of total assets is P800,000.
    Assets=800,000 Liabilities=1/4

    4. The economic resources of the business is 180% of its residual interest and its residual
    interest is 125% of its economic obligations. How much are the total economic resources and
    residual interest of the business it its economic obligations is P320,000.

    5. If the total capital of Louise Company is equal to the amount of its liabilities amounting to
    P200,000, how much is the total assets of the company?

    IV. Direction: Write / Type your answer on the space provided.

    1. Do companies prioritize some external users over the others? If yes, what group of external users does a
    company prioritize? Why?
    Yes,the groups of external users does company prioritize include the investor,trade
    creditors,tax authorities,employees and customer.Company prioritize the external user
    because they are interested in the company financial information for some other purposes.

    Fundamentals of Accountancy, Business and Management 1 2


    2. Why proper recording of business transaction is important?
    It is important to our business because we need to monitor the progress of our business and
    also to improve your profit in a good way.Good records will heps us to identify sources of our
    income,prepare our tax returns and prepare your financial statement in our business.
    3. What are the types of business according to business activity or operation? Give 3 examples of each type.
    Describe their poducts and services briefly.
    Service
    ● Housekeeping-refers to the management of duties and involved in the running of a
    household
    ● Academic Tuitor-a person who provides assistance to people on certain subject areas
    or skills

    Attitude is a little thing that makes a big difference.


    - Anonymous

    GOODLUCK!

    Prepared by:

    Reina B. Matanguihan
    Teacher

    Approved by:

    Instructional Development Committee

    Jojie R. De Ramos Angelika Tibayan

    Fundamentals of Accountancy, Business and Management 1 3

    You might also like