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FABM1 WEEK 5-6 - ABM
Accounting
University of Manila
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Republic of the Philippines Department of Education Region 02 Division of Isabela
Infant Jesus de Providencia Learning
& Development Center, Inc.
#16 Vallejo Street, Barangay 01, Jones, Isabela CP#: 0939-9026-258/0956-994-3232E-mail add.: ijpldci@gmail
Learning Module for
Fundamentals of
Accountancy, Business
and Management 1
ABM 11
First Quarter
Week 5-
__________________
MODULE 4
Books of Accounts
Analysis of Business Transactions
__________________________________________
Name of Learner
Prepared and Submitted by:
Ms. Lovely Hope M. Ramos Facebook/Messenger Account: Lovely Ramos Contact number: 09458041784
Checked and approved by:
Principal: Janet Ciencia-Colobong FB/Messenger Account: Janet Colobong Contact Number: 09569943232
DURATION: 2 WEEKS
DATE GIVEN: ______________________________________________________________________
DATE SUBMITTED:
______________________________________________________________________
I. INTRODUCTION
Welcome to another meaningful and knowledge-full learning session. I am here once again; I am your learning pal. How are you doing so far? I hope you are COVID-free and ready for another learning session.
In your previous lessons in Fundamentals of ABM1, you have learned about the five major accounts which is one of the important things to know in accounting. Now, let’s move on to our next topic and I hope you enjoy learning and answering your activities.
Be ready! This time, you are about to begin another journey of meaningful and fun- filled learning academic session.
II. LESSON
Chapter 5: Books of Accounts - General Journal - General Ledger - Subsidiary Ledger - Special Journal Chapter 6: Analysis of Business Transactions - Rules of Debit and Credit - Trial Balance
III. LEARNING COMPETENCIES/LESSON OBJECTIVES
At the end of this module, you are expected to :
illustrate the format of a general and subsidiary ledger
analyze common business transactions using the rules of debit and credit
solve simple problems and exercises in the analyses of business transaction
IV. BACKGROUND INFORMATION FOR THE LEARNER
CHAPTER 5: BOOKS OF ACCOUNTS
GENERAL JOURNALS
Simply defined, the general journal refers to a book of original entries, in which accountants and bookkeepers record raw business transactions, in order according to the date events occur. A general journal is the first place where data is recorded, and every page in the item features dividing columns for dates, serial numbers, as well as debit or credit records.
SPECIAL JOURNAL Special journals are designed as a simple way to record the most frequently occurring transactions. There are four types of Special Journals that are frequently used by merchandising businesses: Sales journals, Cash receipts journals, Purchases journals, and Cash payments journals.
GENERAL LEDGER The general ledger is a set of major accounts where transaction record. It is the principal set of accounts and records all financial transactions. The general ledger contains all debit and credit entries of transaction and entry for the same is done in
V. LEARNING ACTIVITIES/ EXERCISES
Use a separate sheet of paper in answering your activity 1 and 2
Activity 1 Answer the following exercises on your book - Exercise 5-1 page 67- - Exercise 5-2 page 68 - Exercise 5-3 page 68
Activity 2 Answer the following exercises on your book - Exercise 6-1 page 86- - Exercise 6-2 page 87
Activity 3 Fill in the blanks- Rules of debit and credit For this activity, you may write your answers on the space provided. The account type determines how increases or decreases in it are recorded. Determine whether the word debit or credit is appropriate for each statement.
Asset accounts normally have __________ balances. An increase in asset is recorded as a __________ while decrease in asset is recorded as a __________.
Liability accounts normally have __________ balances. An increase in liability is recorded by a __________ and a decrease is entered as a __________.
The owner’s capital account normally has a __________ balance. This account increases on the __________ side and decreases on the __________.
Income accounts normally have __________ balances. These accounts increase on the __________ side and decrease on the __________ side.
Expense accounts normally have __________ balances. These accounts increase on the __________ side and decrease on the __________ side.
Reflection: Tell something about what you learned from this lesson.
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FABM1 WEEK 5-6 - ABM
Course: Accounting
University: University of Manila
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