HOLY ROSARY ACADEMY OF LAS PIÑAS CITY

HOLY ROSARY ACADEMY OF LAS PIÑAS CITY

PHILOSOPHY
Education that is founded on love and respect of
the SUPREME BEING superimposes on the learner
the values that predicate academic excellence.
 HOLY ROSARY ACADEMY OF LAS PIÑAS CITY

21st Century Skills

Lifelong Learning
Foundational Literacies Competencies Character Qualities
How students apply core How students approach How students approach their
skills to everyday tasks complex challenges changing environment

___ Literacy ___ Critical Thinking / ___ Curiosity

___ Numeracy Problem Solving ___ Initiative
___ Scientific Literacy ___ Creativity ___ Persistency/ Grit
___ ICT Literacy ___ Communication ___ Adaptability
___ Financial Literacy ___ Collaboration ___ Leadership
___ Cultural and Civic ___ Social and Cultural
Literacy Awareness
Business Transactions and
Their Analysis
as Applied to the
Accounting Cycle of a
Service Business
learning objectives :
At the end of this lesson, the student
should be able to:
1. Describe the nature of a service business and give examples
2. Identify the different types of business documents
3. Prepare journal entries of business transactions in a service
business
4. Solve problems and exercises in the analysis of business
transactions.

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This is a slide title
◎ Here you have a list of items
◎ And some text
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Your audience will listen to you or read the content, but

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 “
Quotations are commonly printed as a means
of inspiration and to invoke philosophical
thoughts from the reader.

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Step 1 - Transactions
and/or Events
Identification and measurement of external transactions
and internal events.

Financial transactions start the process. If there were no

financial transactions, there would be nothing to keep track of.
Transactions may include a debt payoff, any purchases or
acquisition of assets, sales revenue, or any expenses incurred.

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 Examples of financial transactions:

1. Receipt of cash from a client as advance

payment to repair a computer.

2. Payment of electric bill is a financial

transaction
 Examples of non-financial transactions:

1. hiring and termination of employees

2. recognition from the government as most
outstanding business
3. death of owner
In a typical service business,
the following are the
business documents
used:

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1. Official Receipt or Cash Receipt
his document is used when a business receives
money or a check. An Official Receipt or
Cash Receipt is a document that acknowledges
that money or a check have been
received.

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2. Charge Invoice or Sales Invoice
A charge invoice is a document used when a
service has been rendered, but the client
will be billed only after a certain number of days
from the date of service. Often, a
company will issue a statement of account to a
customer, with the charge or sales invoice
attached.
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3. Check or Cash Voucher
The check voucher is a document used when a
check is issued to pay a certain supplier or
vendor.

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 ◎ Through the use of
specialized journals (such
Step 2 - as those for sales,
purchases, cash receipts,
Preparation of and cash disbursements)
and the general journal,
Journal Entries transactions and events
are entered into the
(journalization) accounting records. These
are called the books of
original entry.

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Rules on Debits and Credits
➢ The name of the account to be ➢ The total amount of debit
debited is always listed first. should always equal the total
The debited account is listed on amount of credit
the first line with the amount in
the left side of the register.
➢ The credited account is listed on
the second line and is usually
indented. The credited amount
is recorded on the right side of
the register.
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 In two or three columns
Yellow
Blue Red
Is the color of gold, butter and
ripe lemons. In the spectrum of Is the colour of the Is the color of blood,
visible light, yellow is found clear sky and the deep and because of this it
between green and orange. sea. It is located has historically been
between violet and associated with
green on the optical sacrifice, danger and
spectrum. courage.

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HOLY ROSARY ACADEMY OF LAS PIÑAS CITY
Account Title Account Number
ASSETS
Cash on Hand 101
Cash in Bank 102
Investments in Trading Securities 103
Accounts Notes Receivable 104
Allowance for Doubtful Accounts 104-A
Notes Receivable 105
Interest Receivable 106
Advances to Employees 107
Sewing Supplies 108
Prepaid Advertising 109
Prepaid Insurance 110
Land 201
Building 202
Accumulated Depreciation-Building 202-A
Sewing Equipment 203
Accumulated Depreciation-Sewing Equipment 203-A
Furniture and Fixture 204
Accumulated Depreciation-Furniture and Fixture 204-A
HOLY ROSARY ACADEMY OF LAS PIÑAS CITY
Account Title Account Number
LIABILITIES
Accounts Payable 301
Notes Payable 302
Interest Payable 303
Salaries and Wages Payable 304
Withholding Taxes Payable 305
SSS and PhilHealth Premium Payable 306
Pag-ibig Contributions Payable 307
Accrued Salaries Expense 308
Unearned Service Income 309
Mortgage Payable 321
PROPRIETORSHIP
De Jesus, Capital 401
De Jesus, Drawing 401-A
Income and Expense Summary 402
REVENUES
Service Revenue 501
Interest Income 502
Dividend Income 503
HOLY ROSARY ACADEMY OF LAS PIÑAS CITY
Account Title Account Number
EXPENSES
Advertising Expense 601
Depreciation Expense – Building 602
Depreciation Expense – Sewing Equipment 603
Depreciation Expense – Furniture and Fixture 604
Donation and Contribution Expense 605
Doubtful Accounts Expense 606
Gas and Oil Expense 607
Insurance Expense 608
Interest Expense 609
Internet and Communication Expense 610
Light, Power, and Water Expense 611
Miscellaneous Expense 612
Rent Expense 613
Repairs and Maintenance Expense 614
Representation and Entertainment Expense 615
Salaries and Wages Expense 616
Sewing Supplies Expense 617
SSS and PhilHealth Contribution Expense 618
Let us take the case of Pedro Matapang, a computer
technician. Pedro decided to open his computer
repair shop on February 14, 2016, naming it Matapang
Computer Repairs. Pedro knows that business
transactions should be separated from personal finances.
Thus, he decided to invest PHP200,000 in this
business. He deposited the amount with Nation Bank

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February 15, 2016 - Pedro purchased one computer
unit from XY Computer Store to be used for the
business. He issued check number 001 amounting
to PHP25,000.

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February 16, 2016 - Pedro hired Juana Magaling, an
experienced secretary.
Entry: No entry. This is not a financial transaction.

February 17, 2016 – Repaired the computer of Jean

and collected PHP10,000

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February 18, 2016 – Repaired Mike’s computer.
However, Mike will pay PHP15,000 on March 18, 2016

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February 19, 2016 – Pedro purchased Office Supplies
from MM Merchandise amounting to PHP5,000
on account. Pedro will pay this on March 30, 2016.

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February 25, 2016 – Paid the salary of
Juana amounting to PHP4,000

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Sweeper Corporation was established to provide janitorial
services to clients for a fee. The corporation
issued 5,000 shares of common stock, at PHP100 par value to
shareholders. The issue price paid by the
shareholders on January 3, 2016 equal the par value. The entry
to record this transaction is:

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In the above example, if the issue price is
PHP120 per share, what is the entry?

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Step 3 – Posting
Posting to the General Ledger (GL)
Posting to the GL: The journal entries
are then posted to the general ledger
where a summary of all transactions
to individual accounts can be seen.
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Step 4 - Unadjusted
Trial Balance
The unadjusted trial balance is the listing of
general ledger account balances at the end of
a reporting period, before any adjusting entries
are made to the balances to create financial
statements.
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Practice Set 1

Mr. Laban Deyro opened his laundry

business in Iloilo City on January 2, 2016. The
following transactions
occurred during the month of January 2016:

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DATE TRANSACTIONS
1/2/16 Invested PHP500,000 to his business. The trade name of
the business was “MR. LABANDERO”
1/3/16 Hired Allan and Allie who will manage his business
1/4/16 Collections from various customers for the day - PHP3,000
1/5/16 Purchase store supplies from Labada Store - PHP10,000
1/7/16 Collections from various customers for the day - PHP8,000
1/8/16 MR. LABANDERO entered into an exclusive contract with
Sikat Hotel where the business will do all the laundry of
the hotel.
1/9/16 Sikat Hotel availed the services of MR. LABANDERO
amounting to PHP15,000. Payment will be made January
20, 2016. 46
1/10/16 Collections from various customers for the day - PHP12,000
1/12/16 Purchase a washing machine amounting to PHP50,000
1/15/16 Collections from various customers for the day - PHP20,000
1/19/16 Paid electricity bill for the month amounting to PHP18,000
1/20/16 Received payment from Sikat Hotel amounting to PHP15,000
1/21/16 Paid salaries of Allan and Allie - PHP15,000
1/22/16 Mr. Laban Deyro needed money for the hospitalization of his son. He
withdrew PHP18,000 from the business.
1/25/16 Paid airfare ticket of PHP1,500 for the travel of Mr. Deyro to Manila to
negotiate a contract with Sosyal Hotel
1/26/16 Paid taxes to the City of Iloilo, PHP4,000
1/27/16 Purchased office supplies amounting to PHP12,500
1/28/16 Collections from various customer for the day - PHP5,000
1/29/16 Sosyal Hotel availed the services of MR. LABANDERO amounting to
PHP15,000 payable on Feb 25, 2016.
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Evaluation
◎ On June 1, Maya Cruz opened the Ganda Beauty Salon.
During the first month, the following selected transactions
occurred:
◎ 1. Deposited PHP5,000 cash in the City Bank in the name of
the business
◎ 2. Paid PHP800 cash for beauty supplies
◎ 3. Purchased equipment at a cost of PHP12,000 paying
PHP2,000 in cash and the balance on account

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◎ 4. Received PHP1,200 cash for services rendered
◎ 5. Paid PHP500 cash as a salary to a beautician
◎ 6. Withdrew PHP400 cash for personal expenses

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Let’s review some concepts

Yellow Blue Red

Is the color of gold, butter and Is the colour of the clear sky and Is the color of blood, and
ripe lemons. In the spectrum of the deep sea. It is located because of this it has historically
visible light, yellow is found between violet and green on the been associated with sacrifice,
between green and orange. optical spectrum. danger and courage.

Yellow Blue Red

Is the color of gold, butter and Is the colour of the clear sky and Is the color of blood, and
ripe lemons. In the spectrum of the deep sea. It is located because of this it has historically
visible light, yellow is found between violet and green on the been associated with sacrifice,
between green and orange. optical spectrum. danger and courage.

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 thanks!
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QUESTIONS?
You can find me at:
@username
[email protected]

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 Timeline

Blue is the colour of Black is the color of Yellow is the color of Blue is the colour of
the clear sky and the Red is the colour of ebony and of outer gold, butter and ripe White is the color of the clear sky and the
deep sea danger and courage space lemons milk and fresh snow deep sea

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Yellow is the color of White is the color of Blue is the colour of Red is the colour of Black is the color of Yellow is the color
gold, butter and ripe milk and fresh snow the clear sky and the danger and courage ebony and of outer of gold, butter and
lemons deep sea space ripe lemons

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 Roadmap
Blue is the colour of the Black is the color of
clear sky and the deep Red is the colour of ebony and of outer
sea danger and courage space

1 3 5

2 4 6

Yellow is the color of White is the color of Blue is the colour of the
gold, butter and ripe milk and fresh snow clear sky and the deep
lemons sea

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 Gantt chart
Week 1 Week 2

1 2 3 4 5 6 7 8 9 10 11 12 13 14

Task 1

Task 2 ◆

Task 3

Task 4 ◆

Task 5 ◆

Task 6

Task 7

Task 8

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 SWOT Analysis
STRENGTHS WEAKNESSES
Blue is the colour of the clear sky Yellow is the color of gold, butter
and the deep sea and ripe lemons

Black is the color of ebony and White is the color of milk and
of outer space fresh snow
OPPORTUNITIES THREATS

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 Business Model Canvas

Key Partners Key Activities Value Propositions Customer Relationships Customer Segments
Insert your content Insert your content Insert your content Insert your content Insert your content

Key Resources Channels

Insert your content Insert your content

Cost Structure Revenue Streams

Insert your content Insert your content

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 Funnel

AWARENESS Insert your content

DISCOVERY Insert your content

EVALUATION Insert your content

INTENT Insert your content

PURCHASE Insert your content

LOYALTY Insert your content

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 Team Presentation

Imani Jackson Marcos Galán Ixchel Valdía Nils Årud

JOB TITLE JOB TITLE JOB TITLE JOB TITLE
Blue is the colour of the Blue is the colour of the Blue is the colour of the Blue is the colour of the
clear sky and the deep sea clear sky and the deep sea clear sky and the deep sea clear sky and the deep sea

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 Competitor Matrix
HIGH VALUE 2

Competito
r
Comp
etitor
Our company

Competitor

HIGH VALUE 1
LOW VALUE 1

Competito
r

Competito
Competitor
r

LOW VALUE 2

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