ACTIVITY SHEETS IN FUNDAMENTALS OF
ACCOUNTANCY, BUSINESS AND MANAGEMENT 2
GRADE 12, 1ST QUARTER, WEEK 3
II. PRE-TEST
DOWN ACROSS
1. INCOME 7. COMPREHENSIVE
2. EXPENSES 8. MULTIPLE
3. SALES
4. GENERAL
5. LOSS
6. REVENUE
IV. DEVELOPMENTAL ACTIVITIES
Activity 1. Determine whether the account title is general or selling.
General 1. Salaries of administrative assistant
General 2. Salaries of utility staff
Selling3. Salaries of sales agents
General 4. Light and water of home office
Selling5. Rental of Sales office building
General 6. Depreciation of office equipment
Selling 7. Depreciation of delivery van
Selling 8. Advertising expenses
Selling 9. Commission expense
Selling 10. Sales Commission of Account Executive
Activity 2. Solve for the elements of Comprehensive Income for the following
independent Activity:
1. Joy Ride Company’s salaries to sales agents amounted to Php 10,000.
Salaries of accountants amounted to Php 20,000. No other expenses were
incurred. How much is the company’s general and administrative expense?
- The company’s general and administrative expense are Php20,000.00
2. Joy Ride’s beginning inventory amounted to Php 250,000. Net purchases
amounted to Php 70,000. Freight is Php15,000. Compute for the company’s cost
of goods available for sale.
- Goods available for sale are Php335,000.00
3. Joy Ride’s purchases is Php 100,000 while purchase returns and purchase
discounts amounted to Php 20,000 and Php 10,000 respectively. How much is the
company’s purchases?
- The company’s purchases are Php70,000.00
4. Company’s Cost of Goods Sold amounted to Php 235,000. Net cost of
purchases totaled Php 85,000. Beginning inventory amounted to Php 250,000.
Sales amounted to Php 500,000. Compute for the company’s Ending Inventory.
- The company’s Ending Inventory are Php100,000.00
5. Gross profit of Happy Joy Ride amounted to Php 175,000. Net Sales is Php
300,000, compute for cost of goods sold?
- Cost of goods sold are Php125,000.00
V. POST-TEST
Test 1:
Choose the letter corresponding to the correct answer for each of the questions
provided below: Marie Co Company’s accounts show the following balances as
June 30, 2020
Net Sales Php 1,250,000.00 Cost of Sales 380,000.00 Rent Expense (3/4 pertains
to the Sales Department) 20,000.00 Salaries Expense (2/5 pertains to General &
Admin) 250,000.00 Sales Commission Expense 80,000.00 Freight Out 50,000.00
Insurance Expense 25,000.00 Interest Expense 10,000.00 Other comprehensive
income 30,000.00
A 1. What is the gross profit of Marie Co?
a. Php 870,000 c. Php 1,520,000
b. Php 280.000 d. Php 1,200,000
C 2. What is the amount of salaries attributable to non-sales personnel?
a. Php 250,000 c. Php 100,000
b. Php 150,000 d. Php 50,000
B 3. What is the rent expense attributable to Sales Department?
a. Php 120,000 c. Php 80,000
b. Php 90,000 d. Php 100,000
D 4. How much is the total General and Administrative Expenses?
a. Php 250,000 c. Php 155,000
b. Php 125,000 d. Php 165,000
A 5. How much is the total Selling Expenses?
a. Php 370,000 b. Php 320,000 c. Php 365,000 d. Php 300,00
C 6. How much is the comprehensive income of Marie Co?
a. Php 315,000 b. Php 380,000 c. Php 365,000 d. Php 120,000
D 7. How much is income tax expense (hint: 35%)
a. Php 110,000 b. Php 109,500 c. Php 145,000 d. Php 127,750
B 8. How much is comprehensive income after tax?
a. Php 230,000 b. Php 237,250 c. Php 240,000 d. Php 335,000
