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Accounting Equation Removal

Garcia invested cash and started a new business. Throughout August, various transactions occurred including purchasing equipment, supplies, completing jobs, receiving payments, and paying bills. An accounting equation was set up to track assets, liabilities, owner's equity, and changes over time including Garcia's capital contribution and withdrawals. A remediation plan was also prepared to help learners who struggled in business mathematics class during the first semester.

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34 views3 pages

Accounting Equation Removal

Garcia invested cash and started a new business. Throughout August, various transactions occurred including purchasing equipment, supplies, completing jobs, receiving payments, and paying bills. An accounting equation was set up to track assets, liabilities, owner's equity, and changes over time including Garcia's capital contribution and withdrawals. A remediation plan was also prepared to help learners who struggled in business mathematics class during the first semester.

Uploaded by

labsaviles
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Republic of the Philippines

Department of Education
REGION X – NORTHERN MINDANAO
DIVISION OF LANAO DEL NORTE
BALO-I NATIONAL HIGH SCHOOL
ACHACOSO DRIVE, MARIA CRISTINA, BALO-I, LANAO DEL NORTE

ACCOUNTING EQUATION

DATE TRANSACTION
AUGUST
1 Garcia invested P48,000 cash in the business.
Rented office space and paid P800 cash for the August rent.
3 Purchased exploration equipment for P22,000 by paying P12,000 cash
and agreeing to pay the balance in 3 months.
5 Purchased office supplies by paying P1,500 cash.
6 Completed exploration work and immediately collected P420 cash for the
work.
8 Purchased P1,350 of office equipment on credit.
15 Completed exploration work on credit in the amount of P8,000.
18 Purchased P700 of office supplies on credit.
20 Paid cash for the office equipment purchased on August 8.
24 Billed a client P2,400 for work completed; the balance is due in 30 days.
28 Received P5,000 cash for the work completed on August 15.
30 Paid the assistant’s salary of P1,100 cash for this month.
30 Paid P340 cash for this month’s utility bill.
30 Garcia withdrew P1,050 cash from the business for personal use.

Date ASSETS LIABILITIE OWNER’S EQUITY


S

Cash Rent Equipment Supplies Accounts Accounts Garcia’s Garcia’s Revenue Expense
Receivable payable Withdrawal Capital

BALO-I NATIONAL HIGH SCHOOL


Achacoso Drive, Maria Cristina, Balo-i National High School
Tel. No. (063) 223-6261
Email: 303998baloinhs@gmail.com
Republic of the Philippines
Department of Education
REGION X – NORTHERN MINDANAO
DIVISION OF LANAO DEL NORTE
BALO-I NATIONAL HIGH SCHOOL
ACHACOSO DRIVE, MARIA CRISTINA, BALO-I, LANAO DEL NORTE

ACTION PLAN

Prepared by: LOVELYN V. AVILES


Teacher II

Approved by: DANILO C. ANTICANMARA


Secondary School Principal

LEARNERS GIVEN REMEDIATION


Business Mathematics
First Semester, SY 2021-2022

BALO-I NATIONAL HIGH SCHOOL


Achacoso Drive, Maria Cristina, Balo-i National High School
Tel. No. (063) 223-6261
Email: 303998baloinhs@gmail.com
Republic of the Philippines
Department of Education
REGION X – NORTHERN MINDANAO
DIVISION OF LANAO DEL NORTE
BALO-I NATIONAL HIGH SCHOOL
ACHACOSO DRIVE, MARIA CRISTINA, BALO-I, LANAO DEL NORTE

BALO-I NATIONAL HIGH SCHOOL


Achacoso Drive, Maria Cristina, Balo-i National High School
Tel. No. (063) 223-6261
Email: 303998baloinhs@gmail.com

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