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    Abm 2 Evaluation Week 1

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    Christel Fermia Rosimo
    The document provides a lesson on the Statement of Financial Position (SFP) for grade 11 students taking Fundamentals of Accountancy, Business and Management 2. It includes a 10-item true or false evaluation to test understanding of key concepts about the SFP, such as the governing equation of assets = liabilities + owner's equity. It also includes a matching activity to align accounts with their proper classification in the SFP as either assets, liabilities, or equity. Finally, it poses enrichment questions about the benefits of understanding the SFP for future business decision making.

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    © All Rights Reserved
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    Abm 2 Evaluation Week 1

    Uploaded by

    Christel Fermia Rosimo
    30 views3 pages
    The document provides a lesson on the Statement of Financial Position (SFP) for grade 11 students taking Fundamentals of Accountancy, Business and Management 2. It includes a 10-item true or false evaluation to test understanding of key concepts about the SFP, such as the governing equation of assets = liabilities + owner's equity. It also includes a matching activity to align accounts with their proper classification in the SFP as either assets, liabilities, or equity. Finally, it poses enrichment questions about the benefits of understanding the SFP for future business decision making.

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    ABM 2 EVALUATION WEEK 1

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    The document provides a lesson on the Statement of Financial Position (SFP) for grade 11 students taking Fundamentals of Accountancy, Business and Management 2. It includes a 10-item true or false evaluation to test understanding of key concepts about the SFP, such as the governing equation of assets = liabilities + owner's equity. It also includes a matching activity to align accounts with their proper classification in the SFP as either assets, liabilities, or equity. Finally, it poses enrichment questions about the benefits of understanding the SFP for future business decision making.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views3 pages

    Abm 2 Evaluation Week 1

    Uploaded by

    Christel Fermia Rosimo
    The document provides a lesson on the Statement of Financial Position (SFP) for grade 11 students taking Fundamentals of Accountancy, Business and Management 2. It includes a 10-item true or false evaluation to test understanding of key concepts about the SFP, such as the governing equation of assets = liabilities + owner's equity. It also includes a matching activity to align accounts with their proper classification in the SFP as either assets, liabilities, or equity. Finally, it poses enrichment questions about the benefits of understanding the SFP for future business decision making.

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    You are on page 1of 3

    Sta.

    Cruz Institute
    Sta. Cruz, Ilocos Sur
    S.Y. 2021-2022

    GRADE LEVEL: GRADE 11


    SUBJECT: FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMNT 2
    QUARTER: First Quarter (Week 1 and 2)
    MODULE NO.: 1
    LESSON TITLE: STATEMENT OF FINANCIAL POSITION

    NAME: GRADE AND SECTION:

    EVALUATION:

    I. MODIFIED TRUE OR FALSE: Read each sentence carefully and determine if the statement is
    true or false. Write true if the statement is correct and write false if the statement is incorrect
    and write the correct answer to make the statement correct. Write your answer to the space
    provided.

    ____1. The SFP provides readers with the information as to the company’s financial position as of a
    specific date.

    ____2. Asset = liabilities + owner’s equity is the governing equation of the SFP.

    ____3. Asset is an element of the SFP that has a normal balance of credit.

    ____4. Debit means to increase an account.

    ____5. T-account is a representation of the general ledger account used in teaching accounting.

    ____6. An entry on the opposite side of the normal balance of an account means to decrease the
    account by the amount entered.

    ____7. The normal balance of liabilities and owner’s equity is credit.

    ____8. The normal balance of notes receivable is debit.

    ____9. Credit means to decrease an account.

    ____10. The normal balance of unearned income is debit.

    II. MATCHING TYPE: match the account on the table with the appropriate elements of the SFP
    below.

    Long-term payable Owner’s capital

    Notes payable Unearned income

    Property, plants and equipment Notes receivable

    Accounts receivable Accrued expense

    Accounts payable Prepaid expense

    Cash Inventory
    ASSETS LIABILITIES EQUITY

    ENRICH:

    1. What is the benefit for you as an ABM student having the knowledge of reading and interpreting
    the STATEMENT OF FINANCIAL POSITION of a business enterprise? And how will you apply your
    knowledge in SFP in your future decision if you enter the world of business venturing?
    EXECUTE:

    1. Problem Solving:

    Post-closing Trial Balance

    December 31, 2020

    Debit Credit

    Cash in bank 100,000

    Accounts receivable 480,000

    Allowance for bad debts 5,000

    Prepaid rent 10,000

    Office equipment 660,000

    Accumulated depreciation
    -office equipment 60,000

    Salaries payable 30,000

    Accounts payable 240,000

    Fred Leyes, Capital 915,000

    ________________ ________________
    TOTAL P1,250,000 P1,250,000

    Requirement: From the post-closing trial balance of LEYES SERVICE GRAFIX as of December 31, 2020,
    prepare a STATEMENT OF FINANCIAL POSITION.

    a. Report form
    b. Account form

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