Republic of the Philippines

Department of Education
REGION X
SCHOOLS DIVISION OF MISAMIS ORIENTAL
DISTRICT OF BALINGASAG SOUTH
BALIWAGAN SENIOR HIGH SCHOOL
Baliwagan, Balingasag, Misamis Oriental

SCORE:
WORKSHEET 01
Activity Activity
FUNDAMENTALS OF ABM 2
1 3
Module 1: Statement of Financial Position
Activity
Learner: ______________________________________________ 2
(Last Name, First Name, M.I.)
Grade & Section: _______________________________________
Teacher: ____________ Date Submitted: _________________ TOTAL SCORE:
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General Instructions: Do/answer the activities religiously. Write legibly and use black ink ballpen only. If possible, avoid
unnecessary erasures. In addition, don’t forget to ask your parent to sign your worksheet inside the scorebox.

Activity 1. Solve Me!

A. Solve the accounting equation. Instruction. Solve and provide your solution in good form.

1. Angels Tutorial Center has an asset amounting to P200,000, liability is P75,000. How much is the
owner’s equity account?
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2. Assets of TMAM is P15,000 and Total Equity is P10,000, how much is total liabilities?
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3. Assets is equal to P350,000, Liabilities is P250,000, how much is Equity?

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4. Sure Fresh Company’s total liabilities amounted P30,000. Total equity had an ending balance of
P50,000. How much is total assets?
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5. Current Assets is P50,000, Non-Current Assests is P150,000, Current Liabilities is P10,000 and Non-
Current Liabilities is P40,000. How much is the Equity of the company?
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B. Solve for the unknown. Instructions. Solve for the unknown and provide your solution in good form.
In answering the problems below, you must have to recall the kinds of assets and liabilities account and
their examples.

1. Theone Company had the following accounts at year end: Cash P150,000, Accounts Payable P70,000,
Prepaid Expenses 35,000. Compute for the company’s current assets.
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2. Theo Company’s Accounts Receivable amounted to P500,000. Prepaid Expense and Unearned Income
are P30,000 and P10,000 respectively. Cash balance amounted to P100,000 while Accounts Payable and
Inventory are P20,000 and P10,000 respectively. How much is the company’s current assets? Current
liabilities?
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3. Company’s Total Liabilities are Equity amounted to P825,000. Total non-current assets ended at
P550,000. Cash totaled P50,000. Inventory amounted to P100,000. Assuming the company had no other
assets, how much is the accounts receivable?
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4. Total assets amounted to P755,000. Total equity amounted to P350,000. Accounts Payable amounted
to P80,000 while Unearned Income is P85,000. Assuming there are no other account liabilities, compute
for the company’s non-current liabilities.
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5. Cash of P100,000, Accounts Receivables of P200,000, Prepaid Expenses of P30,000, Equipment of

P180,000 and Furniture of P20,000. How much is the total assets?
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Activity 2. Classify Me! Instructions. Write P if the account title is permanent account and write T if the
account title is temporary. Write your answer on the space provided before each item.

______ 1. Assets ______ 7. Accounts Payable ______ 14. Furniture

______ 2. Liabilities ______ 8. Prepaid Rent ______ 15. Notes Payable
______ 3. Owner’s Equity ______ 9. Unearned Rent ______ 16. Owner’s Drawing
______ 4. Capital ______ 10. Rent Expense ______ 17. Supplies Expense
______ 5. Revenues ______ 11. Utilities Expense ______ 18. Supplies
______ 6. Accounts ______ 12. Cash ______ 19. Notes Receivable
Receivable ______ 13. Building ______ 20. Notes Payable

Activity 3. Financial Report. Instructions. Prepare a Statement of Financial Position (SFP) for the
company using report form and account form. Use the worksheet provided for you.

Your neighbor who a Martinez Sari-Sari Store owner has hired you to prepare his sari-sari store’s
Statement of Financial Position. In order to prepare the statement, you identified the following assets
and liabilities of Mr. Martinez after he made an investment of P159,000. Assume that the date of the
report is September 30, 2020.

a. His sari-sari store has cash deposited in a bank account amounting to P50,000.
b. His sari-sari store has a lot of uncollected sales from customers amounting to P75,000.
c. The total amount of merchandise left inside the store is P30,000.
d. He already paid one year’s rent in advance amounting to P12,000.
e. The value of all the company’s furniture amounted to P100,000.
f. He bought merchandise from his supplier amounting to P25,000 the supplier agreed that payment can
be made 2 months after year-end.
g. SSS, Philhealth and Pag-ibig payables for his one employee totaled P5,000.
h. The sari-sari store had outstanding liabilities to utility companies amounting to P3,000.
i. He had a loan from the bank amounting to P50,000 to be paid in 3 years.

Note: No need to journalize and post the transactions. Identify the accounts and prepare the SFP directly.
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