Ascat-Tesda 1013 Aurora Blvd.,Project 3 Quezon City August 31,2019

c
Sector: HEALTH, SOCIAL AND OTHER COMMUNITY DEVELOPMENT

SERVICES SECTOR
Qualification Title: BOOKKEEPING NCIII
Unit of Competency: JOURNALIZE TRANSACTIONS
Module Title: JOURNALIZING TRANSACTIONS
Learning Outcome: PREPARE CHART OF ACCOUNTS
Developed By: MARK ANTHONY G. MARALLAG
Institution:
ASCAT-TESDA
1013 Aurora Blvd.,Project 3 Quezon City
August 31,2019
Date Developed: Document No.

Trainers Training Period month Issued by:
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HOW TO USE THIS COMPETENCY BASED LEARNING
MATERIAL
Welcome to the module in “Journalize Transaction” This module

contains training materials and activities for you to complete.
The unit of competency "Journalize Transaction” contains the

knowledge, skills and attitudes required for a TVET trainer to possess.
This module will lead you through different learning activities in order to
complete each learning outcome of the module. Each learning outcomes is
provided with Information Sheets (Reference Materials for further reading
to help you better understand the required activities). Follow these activities
and answer the self-check at the end of each learning outcome. You may
remove a blank answer sheet at the end of each module (or get one from
your facilitator/trainer) to write your answers for each self-check. If you
have questions, don’t hesitate to ask your facilitator for assistance.
Recognition of Prior Learning (RPL)
You may already have some or most of the knowledge and skills covered
in this learner's guide because you have:
 been working for some time
 already completed training in this area.
If you can demonstrate to your trainer that you are competent in a

particular skill or skills, talk to him/her about having them formally
recognized so you don't have to do the same training again. If you have a
qualification or Certificate of Competency from previous trainings, show it to
your trainer. If the skills you acquired are still current and relevant to the
unit/s of competency they may become part of the evidence you can present
for RPL. If you are not sure about the currency of your skills, discuss this
with your trainer.
At the end of this module is a Learner’s Diary. Use this diary to record
important dates, jobs undertaken and other workplace events that will
assist you in providing further details to your trainer or assessor. A Record
of Achievement is also provided for your trainer to complete once you
complete the module.

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This module was prepared to help you achieve the required competency,
in JOURNALIZE TRANSACTIONS. This will be the source of information for
you to acquire knowledge and skills in this particular trade independently
and at your own pace, with minimum supervision or help from your
instructor.
 Talk to your trainer and agree on how you will both organize the
Training of this unit. Read through the module carefully. It is divided
into sections, which cover all the skills, and knowledge you need to
successfully complete this module.
 Work through all the information and complete the activities in each
section. Read information sheets and complete the self-check.
Suggested references are included to supplement the materials
provided in this module.
 Use the self-check questions at the end of each section to test your
own progress.
 When you are ready, ask your trainer to watch you perform the
activities outlined in this module.
 As you work through the activities, ask for written feedback on your
progress. Your trainer keeps feedback/ pre-assessment reports for
this reason. When you have successfully completed each element, ask
your trainer to mark on the reports that you are ready for assessment.
 When you have completed this module (or several modules), and feel
confident that you have had sufficient practice, your trainer will
arrange an appointment with registered assessor to assess you. The
results of your assessment will be recorded in your competency
Achievement Record.

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PARTS OF A COMPETENCY-BASED LEARNING MATERIAL
References/Further Reading
Performance Criteria Checklist

Operation/Task/Job Sheet
Self Check Answer Key
Self Check
Information Sheet
Learning Experiences
Learning Outcome Summary
Module
Module Content
Content
Module
List of Competencies
Content
Module Content
Module Content
Front Page
In our efforts to standardize CBLM,
the above parts are recommended for
use in Competency Based Training
(CBT) in Technical Education and
Skills Development Authority (TESDA)
Technology Institutions. The next
sections will show you the
components and features of each part.

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COMPETENCY-BASED LEARNING MATERIALS
BOOKKEEPING NCIII
Core Competencies
No. Unit of Competency Module Title Code
JOURNALIZE JOURNALIZING
TRANSACTION TRANSACTION HCS412301
1.
POSTING TRANSACTIONS
POST TRANSACTIONS HCS412302
2.
PREPARE TRIAL PREPARING TRIAL

3. HCS412303
BALANCE BALANCE
PREPARE FINANCIAL PREPARING FINANCIAL

4. HCS412304
REPORTS REPORTS
REVIEW INTERNAL REVIEWING INTERNAL

5. HCS412305
CONTROL SYSTEM CONTROL SYSTEM

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COMPETENCY SUMMARY
UNIT OF COMPETENCY: JOURNALIZE TRANSACTION
MODULE TITLE : JOURNALIZING TRANSACTION
MODULE DESCRIPTOR : This unit covers the knowledge, skills, and

attitudes in logging/recording business transactions in an accounting
journal
NOMINAL DURATION : 30 HOURS
QUALIFICATION LEVEL: NC III

SUMMARY OF LEARNING OUTCOMES:
Upon completion of this module, the students/trainees must be able to:
1. Prepare chart of accounts

2. Analyze documents
3. Prepare journal entry
ASSESSMENT CRITERIA:
1. Nature of business is determined based on client

information
2. List of asset, liability, equity, income, and expense account
titles are prepared in accordance with industry practices
3. Accounting manual is prepared in accordance with
industry practice.
4. Documents are gathered, checked and verified in
accordance with verification and validation processes.
5. Account titles are selected in accordance with standard
selection processes

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6. Journals are prepared in accordance with industry practice
and generally accepted accounting principles/Philippine
Financial Reporting Standards for transactions and events.
7. Debit account titles are determined in accordance with
chart of accounts
8. Credit account titles are determined in accordance with
chart of accounts
9. Explanation to journal entry is prepared in accordance
with the nature of transaction
10. Journal entries are prepared with 100% accuracy

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MODULE CONTENT
QUALIFICATION TITLE : BOOKKEEPING NCIII

UNIT OF COMPETENCY : JOURNALIZE TRANSACTION
CODE : HCS412301
MODULE TITLE : JOURNALIZING TRANSACTIONS
MODULE DESCRIPTOR : This unit covers the knowledge, skills, and

attitudes in logging/recording business transactions in an accounting
journal
NOMINAL DURATION : 30 HOURS
LEARNING OUTCOMES
At the end of this module, you will be able to:
1. Prepare chart of accounts
2. Analyze documents
3. Prepare journal entry
ASSESSMENT CRITERIA:
Assessment Criteria:
1. List of asset, liability, equity, income, and expense account titles
are prepared in accordance with Generally Accepted Accounting
Principles.
2. Chart of Accounts is coded according to industry practice.
3. Documents are gathered, checked and verified in accordance with
verification and validation processes.
4. Account titles are selected in accordance with standard selection
processes.
5. Journal entries are prepared in accordance with generally accepted
accounting principles.
6. Debit and credit account titles are determined in accordance with
chart of accounts.
7. Explanation to journal entry is prepared in accordance with the
nature of transaction.

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LEARNING OUTCOME # 1 Prepare chart of accounts
CONTENTS:
 Definition and functions of bookkeeping & accounting

 Types of business organization
 Types of Accounts and basic accounting equation
CONDITIONS:
The students/trainees must be provided with the following:

 Calculator
 Paper
 Learning Materials
 Pencil
 Eraser
METHODOLOGIES:
 Group discussion
 Interaction
 Lecture
 Practical exercises
ASSESSMENT METHODS:
 Written test
 Practical/performance test
 Interview
LEARNING OUTCOME # 2 Analyze documents

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CONTENTS:
 Types of Business Documents

 Account Title Selection
CONDITIONS:

 Calculator
 Paper
 Pencil
 Eraser
 Sample Business Documents
METHODOLOGIES:
 Interaction
 Lecture
ASSESSMENT METHODS:
 Written test
 Interview

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LEARNING OUTCOME # 3 PREPARE JOURNAL ENTRY
CONTENTS:
 Generally Accepted Accounting Principles

 Accounting Equation
 Journalizing of Partnerships account titles
CONDITIONS:

 Calculator
 Journal Paper
 Pencil
 Eraser
 Philippine Financial Reporting Standards
METHODOLOGIES:
 Interaction
 Lecture
ASSESSMENT METHODS:
 Written test
 Interview

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LEARNING EXPERIENCES
Learning Outcome 1
Prepare chart of accounts
Learning Activities Special Instructions
In this lesson, you need to learn
differences between sole
1. Read Information Sheet 1.1. Nature proprietorship, partnership and
of Business And Purpose of corporation(Read Information Sheet
bookkeeping and Accounting 1.1.1 Nature of Business And
2. Answer Self-Checks 1.1.1 Compare Purpose of bookkeeping and
answers to answer key1.1.1 Accounting then answer self-check
1.1.1 and check answers by
comparing to answer key 1.1.1)
3. Read Information Sheet 1.1.2 types You will be able to familiarize the
of accounts and basic accounting Charts of account with each
equation corresponding account titles (Read
Information Sheet 1.1.2 and Answer
Self-Checks 1.1.2 Compare answers
4. Answer Self-Checks 1.1.2 Compare to answer key1.1.2
answers to answer key1.1.2 Perform task Sheet 1. 1-1 on types
of accounts and basic accounting
Observe Demonstration on types of equations
accounts and basic accounting
equations
If you have any questions or any

clarifications, ask for assistance
from your trainer, if none, you can
proceed to the next LO on Prepare
tools and materials and set-up
equipment for drawing.

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Learning Outcome 2
Analyze documents
In this lesson, you need to learn
important list of business
1.Read Information Sheet 1.2.1 Types documents (Read Information Sheet
of business documents 1.2.1 And Answer Self-Checks 1.2.1
Compare answers to answer
2. Answer Self-Checks 1.2.1 Compare key1.2.1)
answers to answer key1.2.1
You will able to identify each
account title found in any business
3. Read Information Sheet 1.2.2 on general ledger (Read Information
Account Title Selection Sheet 1.2.2 and Answer Self-
Checks 1.2.2 Compare answers to
4. Answer Self-Checks 1.2.2 Compare
answer key1.2.2 )
answers to answer key1.2.2


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Learning Outcome 3
Prepare Journal Entry
In this lesson, you need to learn that
Journals are prepared in accordance
1.Read Information Sheet 1.3.1 Types
with industry practice and
of Generally Accepted Accounting
generally accepted accounting
Principles
principles/Philippine Financial
2. Answer Self-Checks 1.3.1 Compare Reporting Standards for
answers to answer key1.3.1 transactions and events.( .Read
Information Sheet 1.1.1 and
Answer Self-Checks 1.1.1
3. Read Information Sheet 1.3.2 Compare answers to answer
Accounting Equation key1.1.1 )
4. Answer Self-Checks 1.3.2 Compare Perform Job Sheet 1. 3-1 on how to
answers to answer key1.3.2 prepare Journal entry with 100%
5. Read Information Sheet 1.3.3 accuracy
Prepare Journal entries The trainer will demonstrate on how
6. Answer Self-Checks 1.3.3 Compare to prepare journal entries and
answers to answer key1.3.3 Perform Job Sheet 1. 3-1 on how to
prepare Journal entry with 100%
accuracy
Information Sheet 1.1.1

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Nature of Business And Purpose of Bookkeeping
Learning Objective:
After reading this info sheet, you must be able to:
1. Define Business
2. Differentiate Business Entities
3. Purpose of Bookkeeping
Introduction:
Journalizing is the first step in the accounting cycle. It is the process

of recording business transactions in a journal. In order to have a
permanent record of an entire transaction, the accountant uses a book or
record known as a journal. A journal entry is the recording of a business
transaction in a journal. A journal entry shows all of the effects of a
transaction as expressed in terms of debit and credit and may include an
explanation of the transaction. A transaction is entered in a ledger accounts.
Because each transaction is initially recorded in a journal rather than
directly in the ledger, a journal is called the book of original entry. The
journal contains chronological or date wise record of business transactions,
the account debited and credited their respective amounts. Each entry is
recorded so that the duality or equilibrium or recording is maintained in
equation form:
Business
Is an organization in which basic resources (inputs), such as materials
and labors, are assembled and processed to provide goods or service
(outputs) to customers
The of objective of most business is to earn profit
PROFIT – is the difference between the amounts received from customers
for goods and services and the amounts paid in the inputs used to provide
the goods or service.
ACCOUNTING – can be define as an information system that provides
reports to users about the economic activities and condition of a business.
- Is a service activity

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- Its FUNCTION is to provide quantitative information
,primarily financial in nature, about economic entities, that
is intended to be useful in making economic decision,
Purpose of Bookkeeping
is a component of accounting, the discipline that interprets and
analyzes the record of financial transactions to generate reports.It provides
financial information throughout the year so you can test the success of
your business strategies and make course corrections to ensure that you
reach your year –end profit goals.
- It can become your best system for managing your financial
assets and testing your business strategies.
Business Entities
Sole Proprietorship – Is owned by one individual and they are easy to

organize and resources are limited to those of the owner.
Partnership – Is similar to proprietorship except that it is owned by two or
more individuals.
Corporation – a corporation is organized under states statutes as a separate
legal taxable entity.

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SELF-CHECK 1.1.1
Nature of Business and Purpose of Accounting
MULTIPLE CHOICES:
1. Is an organization in which basic resources (inputs), such as materials
and labors are assembled and processed to provide goods or service
(outputs) to customers?
A. Accounting
B. Business
C. Establishment
D. Entities
2. The objective of most business is to?

A. Gain losses
B. Gain Publicity
C. Gain Peoples Comments
D. Gain Profit
3. They are easy to organize and resources are limited to those of the owner.
A. Sole Proprietorship
B. Partnership
C. Corporation
D. Incorporation
4. A is organized under states statutes as a separate legal taxable

entity.
A. Incorporation
B. Corporation
C. Partnership
D. Sole Proprietorship

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5. A IS similar to proprietorship except that it is owned by two or
more individuals.
A. Incorporation
B. Corporation
C. Partnership
D. Sole Proprietorship

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Answer Key 1.1.1
Nature of Business and Purpose of Accounting
1. B
2. D
3. A
4. B
5. C
INFORMATION SHEET 1.1.2

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TYPES OF ACCOUNTS AND BASIC ACCOUNTING EQUATIONS
Learning Objective:
After reading this info sheet, you must be able to:
1. Familiarize in the different types of accounts.
2. Define and Classify Chart of Accounts
3. Learn basic accounting equations

Introduction:
Chart of Accounts
A listing of the names of the account that a company has identified

and made available for recording transactions in its general ledger. Their
role is to define how your company's money is spent or received. Each
category can be further broken down into several categories.
ASSET ACCOUNT – resources that are owned by a firm
Cash - a cash accounts refers to a business-to-business or business-to-

consumer account which is conducted on an immediate payment basis i.e.
no credit is offered.
Marketable Securities - A marketable security is an easily

traded investment that is readily converted into cash, usually because
there is a strong secondary market for the security. Such securities are
typically traded on a public exchange, where price quotes are readily
available. The tradeoff for the high level of liquidity is that the return on
marketable securities is usually low.

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Accounts Receivable - Accounts receivable refers to money due to a seller
from buyers who have not yet paid for their purchases .
Allowance for Doubtful Accounts (contra account ) - The allowance

represents management’s best estimate of the amount of accounts
receivable that will not be paid by customers . When the allowance is
subtracted from accounts receivable, the remainder is the total amount
of receivables that a business actually expects to collect.
Prepaid Expenses - A prepaid expense is an expenditure that is paid for

in one accounting period , but for which the underlying asset will not be
entirely consumed until a future period
Inventory - Inventory is an asset that is intended to be sold in the

ordinary course of business. Inventory may not be immediately ready for
sale. Inventory items can fall into one of the following three categories:
- Held for sale in the ordinary course of business; or

- That is in the process of being produced for sale; or
- The materials or supplies intended for consumption in the

production process.
In accounting, inventory is typically broken down into three categories,

which are:
Raw materials - Includes materials intended to be consumed in the

production of finished goods.
Work-in-process - Includes items that are in the midst of the production

process, and which are not yet in a state ready for sale to customers.
Finished goods - Includes goods ready for sale to customers. May be

termed merchandise in a retail environment where items are bought from
suppliers in a state ready for sale.

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Inventory is typically classified as a short-term asset ,
Fixed Assets - A fixed asset is property with a useful life greater than one
reporting period, and which exceeds an entity's minimum capitalization
limit. A fixed asset is not purchased with the intent of immediate resale,
but rather for productive use within the entity
 Buildings
 Computer equipment
 Computer software
 Furniture and fixtures
 Intangible assets
 Land
 Leasehold improvements
 Machinery
 Vehicles
Fixed assets are initially recorded as assets, and are then subject to the
following general types of accounting transactions :
Periodic depreciation (for tangible assets) or amortization (for intangible

assets)
A fixed asset is also known as Property, Plant, and Equipment.
Accumulated Depreciation (contra account )- Accumulated depreciation is

the total depreciation for a fixed asset that has been charged to expense
since that asset was acquired and made available for use. The
accumulated depreciation account is an asset account with a credit
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balance (also known as a contra asset account); this means that it
appears on the balance sheet as a reduction from the gross amount of
fixed assets reported.
Other Assets - Other assets are a grouping of accounts that are listed as
a separate line item in the assets section of the balance sheet. This line
item contains minor assets that do not naturally fit into any of the main
asset categories. Examples of these minor assets are:
 Advances to employees
 Bond issuance costs
 Deferred tax assets
 Prepaid expenses
Liability Accounts – present obligations of the firm
Accounts payable
Is the aggregate amount of one's short-term obligations to pay
suppliers for products and services that were purchased on credit.
Accrued Liabilities
An accrued liability is an obligation that an entity has assumed,

usually in the absence of a confirming document, such as a supplier
invoice.
The journal entry for an accrued liability is typically a debit to an

expense account and a credit to an accrued liabilities account.
Example: Examples of accrued liabilities are:

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 Accrued interest expense . A company has a loan outstanding, for
which it owes interest that has not yet been billed by its lender at the end
of an accounting period.
 Accrued payroll taxes. A business incurs a liability to pay several

types of payroll taxes when it pays compensation to its employees.
 Accrued pension liability. A company incurs a liability to pay its

employees at some point in the future for benefits earned under a
pension plan.
 Accrued services. A supplier provides services to a company, but

has not billed the company by the end of an accounting period, because
it takes time to compile billings from the time sheets of its employees.
 Accrued wages . A company owes wages to its hourly employees at

the end of an accounting period, for which it is not scheduled to pay
them until the next period.
Taxes Payable
Taxes payable refers to one or more liability accounts that contain

the current balance of taxes owed to government entities. Once these
taxes are paid, they are removed from the taxes payable account with a
debit.
Example : Sample taxes payable accounts include:
 Sales taxes payable (for which the liability is recorded at the time a
customer is invoiced, with a debit to the accounts receivable account).
 Corporate income taxes payable (for which the liability is recorded
at the end of each accounting period, with a debit to the income tax
expense account - assuming there is a taxable profit).

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 Payroll taxes payable (for which the liability is recorded when
a payroll is calculated, with a debit to one of several possible payroll
expense accounts).
Wages Payable
Wages payable is the liability incurred by an organization

for wages earned by but not yet paid to employees.
Notes Payable
A note payable is a written promissory note. Under this agreement,

a borrower obtains a specific amount of money from a lender and
promises to pay it back with interest over a predetermined time period.
The interest rate may be fixed over the life of the note, or vary in
conjunction with the interest rate charged by the lender to its best
customers (known as the prime rate).
Equity Accounts
-Represents the owners residual interest in the assets
-residual interest is another name for owners’ equity
Common Stock
Common stock is an ownership share in a corporation that allows

its holders voting rights at shareholder meetings and the opportunity to
receive dividends
Preferred Stock
Common stock is an ownership share in a corporation that allows

its holders voting rights at shareholder meetings and the opportunity to
receive dividends
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Preferred stock holders can have a broad range of voting rights,
ranging from none to having control over the eventual disposition of the
entity.
Retained Earnings
Retained earnings are the profits that a company has earned to

date, less any dividends or other distributions paid to investors. This
amount is adjusted whenever there is an entry to the accounting records
that impacts a revenue or expense account. A large retained earnings
balance implies a financially healthy organization. The formula for ending
retained earnings is:
Beginning retained earnings + Profits/losses - Dividends = Ending

retained earnings
Income Account – are categories within the business's books that show
how much it has earned
A debit to an income account reduces the amount the business has
earned, and a credit to an income account means it has earned more.
Other income
Other income is income derived from activities unrelated to the
main focus of a business.
Revenue Account - is an increase in assets or decrease
in liabilities caused by the provision of services or products to customers.
It is a quantification of the gross activity generated by a business.
Expense Accounts – money you spend to purchase goods or services
provided by someone else. Example include rent, electricity and lights
expense
Advertising Expense

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Advertising expense is a general ledger account in which is stored
the consumed amount of advertising costs.
Depreciation Expense
Depreciation expense is that portion of a fixed asset that has been

considered consumed in the current period. This amount is then charged
to expense.
Payroll Tax Expense
Depreciation expense is that portion of a fixed asset that has been

to expense.
Rent Expense
Rent expense is an account that lists the cost of occupying rental

property during a reporting period
Supplies Expense
Supplies expense refers to the cost of consumables used during

a reporting period. Depending on the type of business, this can be one of
the larger corporate expenses.
Examples of Factory Supplies
 Janitorial supplies
 Machine lubricants
 Rags
 Solvents
Examples of Office Supplies
 Desk supplies
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 Forms
 Light bulbs
 Paper
 Pens and pencils
 Toner cartridges
 Writing instruments
Utilities Expense
Utilities expense is the cost consumed in a reporting period related

to the following types of expenditures:
 Electricity
 Heat (gas)
 Sewer
 Water
Wages Expense
Wages expense is the hourly compensation cost incurred by a

business for its hourly workers. This can be one of the
largest expenses incurred by a business, especially in the services and
production industries where there are many hourly employees .
Other Expenses - are expenses that do not relate to a company's main

business.
Include interest expense and losses from disposing of fixed assets.
Accounting Equation is:

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Assets = Liabilities + Owner’s Equity
Assets - Liabilities = Owner’s Equity.
Sample Problems
1. Owners invested cash
Metro Courier, Inc., was organized as a corporation on January 1, the

company issued shares (10,000 shares at 3 each) of common stock for
30,000 cash to Ron Chaney, his wife, and their son. The 30,000 cash was
deposited in the new business account.
Transaction analysis:
 The new corporation received 30,000 cash in exchange for ownership

in common stock (10,000 shares at 3 each).
 We want to increase the asset Cash and increase the equity Common
Stock.
Assets Equity
Transactions Cash Common Stock
1. Owner invested cash + 30,000 + 30,000
Let’s check the accounting equation: Assets 30,000 = Liabilities 0 + Equity

30,000

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SELF-CHECK 1.1.2
TYPES OF ACCOUNTS AND BASIC ACCOUNTING EQUATIONS
1. Type of Account titles which define as the money you spend to purchase
goods or services provided by someone else.
A. Expense Accounts
B. Chart of Accounts
C. Asset Accounts
D. Liability Accounts
2. Refers to money due to a seller from buyers who
have not yet paid for their purchases.
A. Accounts Receivable
B. Accounts Payable
C. Accrued Liabilities
D. Accrued Income
3. A expense is an expenditure that is paid for in one accounting

period, but for which the underlying asset will not be entirely consumed
until a future period.
A. Prepaid Expense
B. Utilities Expense
C. Salaries Expense
D. Other Expense
4. A is that portion of a fixed asset that has been

to expense.
A. Prepaid Expense
B. Utilities Expense
C. Salaries Expense
D. Deprecation Expense
5. Is the aggregate amount of one's short-term obligations to pay

suppliers for products and services that were purchased on credit?
A. Accounts Recievable
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B. Other Expense
C. Accounts Payable
D. Notes Payable
Answer Key 1.1.2

TYPES OF ACOUNTS AND BASIC ACCOUNTING EQUATION
1. A
2. A
3A
4. D
5. A
Task Sheet 2.3-1

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Performance Criteria checklist 2.3-1
Information Sheet 2.3-2A on Attributes (Notes and Labels)
self - check 2.3-2
answer key 2.3-2A
Information Sheet 2.3-2B on Attributes (Dimensions)
self - check 2.3-2
answer key 2.3-2B
Job Sheet 2.3-2
Information Sheet 2.3-3 on Modifications
self - check 2.3-3
answer key 2.3-3
Task Sheet 2.3-3
Information Sheet 2.3-4 on Plotting and Printing
self - check 2.3-4
answer key 2.3-4
Operation Sheet 2.3-4
*Delete this note after

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TASK SHEET 1.1.1
Title: TYPES OF ACCOUNTS AND BASIC ACCOUNTING
EQUATION
Performance Objective: Given the materials and equipment needed,

identify the types of accounts and basic
accounting equation in 1 hour.
Supplies/Materials : Calculator
Paper
Learning Materials
Pencil
Eraser
Equipment : Table , Chair
Steps/Procedure:
1.Secure a copy of an activity for this particular task sheet
2. Identify each account title.
3.Arrange account titles according to five basic elements of accounting
4. Prepare Chart of Accounts according to the prescribed format
5.Check your work against the Performance Criteria Checklist
ASSESSMENT METHODS:
1. Practical Test
2. Observation
Performance Criteria Checklist 1.1.1

TYPES OF ACCOUNTS AND BASIC ACCOUNTING EQUATION
CRITERIA
YES NO
Did you….
1. Are account titles properly identified according to
basic elements of accounting?
2. Are list of assets, liability, equity, income and
expense account titles prepared in accordance
with the industry practice
3. Is Chart of Accounts prepared and arranged
DateofDeveloped:
according to the prescribed format accounting?Document No.
Bookkeeping NC III Revision No. 2
July 17, 2014
Journalize Prepared by:
Issued
TESDA - Transactions by: Page 33 of 48
PPSAT MARINA C PERIA
INFORMATION SHEET 1.2.1
TYPES OF BUSINESS DOCUMENTS
Learning Objective:
• To orient trainees on how to identify, validate and analyze source documents
as bases in preparing journal entries.
Source Documents
Source documents - are the forms, evidences or legal/official papers that support
to the economic transactions. These are the bases of journal transactions.
Examples of common business forms:
Official Receipt – written acknowledgement of something received as money or

goods.
Check Voucher – a document that serves to recognize a liability and authorize the
disbursement of cash through the use of check.

July 17, 2014
Issued
Petty Cash Voucher – a document that serves to recognize liability and
authorize the disbursement of cash through the use of petty cash fund.
Check – is a draft upon a bank and payable on demand signed by the maker or
drawer, containing an unconditional, promise to pay a certain sum of money
to the order of the payee.
Promissory Note – is a promise or engagement in writing to pay a specified

amount at a time therein limited to a person named.
Commercial Invoice – is a written itemized statement of merchandises sold to

the buyer, together with the prices and charges of merchandise sent or to be
sent to him.
Debit Memorandum– is a written notice given by the bank which inform client of a
reduction in his account.
Credit memorandum– is a notice given by the bank informing the client of an

increase in his account
Bank Deposit Slip– is a document which serves as evidence an act of placing

money in the custody of a bank, to be withdrawn at the will of the depositor or
under rules and regulations agreed upon.
Payroll sheet–a written list of salaries of personnel to be paid with corresponding

amount due.
Billing or Statement of Account– is a report issued periodically by a bank or

creditor to a customer setting forth the amount billed, credits given and balance
due.
ATM cards/Passbook– documents given by the bank to the owner showing

evidences for all the transactions made by the depositor.

July 17, 2014
Issued
July 17, 2014
Issued
ANALYZING BUSINESS TRANSACTIONS
Transaction 1: Cash Received per Official Receipt amounting

P250,000 dated December 5, 2012 for Michael initial investment.
Analysis:
Value received: Cash

Accounting element affected: Asset
Account to be debited: Cash on hand
Amount to be debited: P250,000
Value parted with: Claim of the owner in the business
Accounting element affected: Owner’s Equity
Account to be credited: Michael, Capital
Amount to be credited: P250,000
Transaction 2: Cash deposited per deposit slip, P250,000 dated December 6,

2012.
Analysis:
Value received: Cash

Account to be debited: Cash in Bank
Amount to be debited: P250,000
Value parted with: Cash
accounting element affected: Asset
Account to be credited: Cash on Hand
Amount to be credited: P250,000

July 17, 2014
Issued
Transaction 3: Cash payment per Check Number 0055 for supplies amounting P5,
000 dated December 8, 2012.
Analysis:
Value received: Supplies

Accounting element affected: Expense
Account to be debited: Supplies Expense
Amount to be debited: P5, 000
Value parted with: Cash
Account to be credited: Cash in Bank
Amount to be credited: P5, 000
Transaction 4: Acquisition of Office Computer amounting P35, 000 on account.
Analysis:
Value received: Computer

Account to be debited: Office Equipment
Amount to be debited: P35, 000
Value parted with: obligation to pay
Accounting element affected: Liability
Account to be credited: Accounts Payable
Amount to be credited: P35, 000

July 17, 2014
Issued
SELF-CHECK 1.2.1
Completion Test
Direction: Provide the answer of the following
1. A written itemized statement of merchandises sold to the buyer, together

with the prices and charges of merchandise is _________?
2. A draft upon a bank and payable on demand signed by the maker or
drawer, containing an unconditional, promise to pay a certain sum of money to
the order of the payee ______________ ?
3. Written acknowledgement of something received as money or goods
____________?
4. Document that serves to recognize a liability and authorize the
disbursement of cash through the use of check __________?
5. Document that serves to recognize liability and authorize the disbursement
of cash through the use of petty cash fund _________?

July 17, 2014
Issued
Answer Key 1.2.1
1. Commercial Invoice
2. Check
3. Official Receipts
4. Check Voucher
5. Petty Cash Voucher
Information Sheet 1.2.2

Account title Selection
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DEBIT- Assets, Expenses, Drawings, Sales Returns & Allowances, Sales
Discount, Purchases
CREDIT -Liabilities, Revenue, Capital, Allowance for Bad Debts,

Accumulated depreciation, Purchase Returns & Allowances, Purchase
discount
Rules of Debit and Credit

The rules of debit and credit are based on the normal balance of an
accounting element or account. Normal balance of an account refers to the
usual position of an account in the T – account.
The normal balance of an account provides the basis in analyzing when to
debit and credit an account.
Example:
Rule 1 – Assets:
Debit to increase the amount of asset,
Credit to decrease its amount.
Rule 2 – Liability:
Credit to increase the amount of liability,
Debit to decrease its amount.
Rule 3 – Owner’s Equity:

Credit to increase the capital account,
Rule 4 – Revenue:
Credit to increase the revenue account,
Rule 5 – Expenses:
Debit to increase expense account, Credit to decrease its amount.
Normal Balance of Accounts
Asset Accounts

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Liability Accounts

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Operating Revenue Accounts
Operating Expense Accounts

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Non-Operating Revenues and Expenses, Gains, and Losses
Self-Check 1.2.2
Account title Selection
Instruction: Classify the items below to what account title they belong:
Asset, Liability, Owner’s Equity, Revenue or Expense
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1. Accounts Receivable
2. Store Building
3. Land
4. Prepaid Rent
5. Owner’s Drawings
6. Interest Income
7. Accumulated Depreciation
8. Used Supplies
9. Bad Debts 10.Accounts Payable
Answer Key 1.2.1

ACCOUNT TITLE SELECTION
1. Asset
2. Asset
3. Asset
4. Asset
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5. Capital
6. Revenue
7. Asset
8. Expense
9. Expense
10. Liability
INFORMATION SHEET No.1.3.1

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
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Learning Objectives:
After reading this information sheet, you should be able to:
1. Identify the Generally Accepted Accounting Principles.

2. Explain the importance of Generally Accepted Accounting Principles
(GAAP)
GENERALLY ACCEPTED ACCOUNT PRINCIPLES

GAAP is an international convention of good accounting practices. It is
based on the following core principles. In certain instances particular types
of accountants that deviate from these principles can be held liable.
The Business Entity Concept
The business entity concept provides that the accounting for a
business or organization be kept separate from the personal affairs of its
owner, or from any other business or organization. This means that the
owner of a business should not place any personal assets on the business
balance sheet. The balance sheet of the business must reflect the financial
position of the business alone. Also, when transactions of the business are
recorded, any personal expenditures of the owner are charged to the owner
and are not allowed to affect the operating results of the business.
The Continuing Concern Concept
The continuing concern concept assumes that a business will
continue to operate, unless it is known that such is not the case. The values
of the assets belonging to a business that is alive and well are
straightforward. For example, a supply of envelopes with the company's
name printed on them would be valued at their cost. This would not be the
case if the company were going out of business. In that case, the envelopes
would be difficult to sell because the company's name is on them. When a
company is going out of business, the values of the assets usually suffer
because they have to be sold under unfavorable circumstances. The values
of such assets often cannot be determined until they are actually sold.
The Principle of Conservatism
The principle of conservatism provides that accounting for a business
should be fair and reasonable. Accountants are required in their work to
make evaluations and estimates, to deliver opinions, and to select
procedures. They should do so in a way that neither overstates nor
understates the affairs of the business or the results of operation.
The Objectivity Principle

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The objectivity principle states that accounting will be recorded on the
basis of objective evidence. Objective evidence means that different people
looking at the evidence will arrive at the same values for the transaction.
Simply put, this means that accounting entries will be based on fact and not
on personal opinion or feelings.
The source document for a transaction is almost always the best
objective evidence available. The source document shows the amount agreed
to by the buyer and the seller, who are usually independent and unrelated
to each other.
The Time Period Concept
The time period concept provides that accounting take place over
specific time periods known as fiscal periods. These fiscal periods are of
equal length, and are used when measuring the financial progress of a
business.
The Revenue Recognition Convention
The revenue recognition convention provides that revenue be taken
into the accounts (recognized) at the time the transaction is completed.
Usually, this just means recording revenue when the bill for it is sent to the
customer. If it is a cash transaction, the revenue is recorded when the sale
is completed and the cash received.
It is not always quite so simple. Think of the building of a large project
such as a dam. It takes a construction company a number of years to
complete such a project. The company does not wait until the project is
entirely completed before it sends its bill. Periodically, it bills for the amount
of work completed and receives payments as the work progresses. Revenue
is taken into the accounts on this periodic basis.
It is important to take revenue into the accounts properly. If this is
not done, the earnings statements of the company will be incorrect and the
readers of the financial statement misinformed.
The Matching Principle
The matching principle is an extension of the revenue recognition
convention. The matching principle states that each expense item related to
revenue earned must be recorded in the same accounting period as the
revenue it helped to earn. If this is not done, the financial statements will
not measure the results of operations fairly.
The Cost Principle
The cost principle states that the accounting for purchases must be at
their cost price. This is the figure that appears on the source document for
the transaction in almost all cases. There is no place for guesswork or
wishful thinking when accounting for purchases.
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The value recorded in the accounts for an asset is not changed until
later if the market value of the asset changes. It would take an entirely new
transaction based on new objective evidence to change the original value of
an asset.
There are times when the above type of objective evidence is not
available. For example, a building could be received as a gift. In such a case,
the transaction would be recorded at fair market value which must be
determined by some independent means.
The Consistency Principle
The consistency principle requires accountants to apply the same
methods and procedures from period to period. When they change a method
from one period to another they must explain the change clearly on the
financial statements. The readers of financial statements have the right to
assume that consistency has been applied if there is no statement to the
contrary.
The consistency principle prevents people from changing methods for
the sole purpose of manipulating figures on the financial statements
Self-Check 1.3.1
GENERAL ACCEPEDTED ACCOUNTING PRINCIPLES
Identify the following.

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_______________1.This is an international convention of good accounting
Practices.
_______________2. It provides that the accounting for a business or
organization be kept separate from the personal affairs of
its owner or from any other business or organization.
_________________3. This states that accounting will be recorded on the
basis of objective evidence.
_________________4. This provides that accounting for a business should be
fair and reasonable.
_________________5. It states that the accounting for purchases must be at
their cost price.
Answer Key 1.3.1

GENERAL ACCEPEDTED ACCOUNTING PRINCIPLES

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1. Generally Accepted Accounting Principles (GAAP)
2. The Business Entity Concept
3. The Objectivity Principle
4. The Principles of Conservatism
5. The Cost Principle
INFORMATION SHEET No.1.3.2

ACCOUNTING EQUATION

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1. Familiarize the accounting equation.
2. Differentiate assets, liabilities and equities.
ACCOUNTING EQUATION
Business transactions affect the assets, liabilities, and proprietorship

of the business. These effects can be in the accounting equation.
ASSETS = EQUITIES
“Assets” include anything owned or possessed by the business which is
capable of being expressed in terms of money or possessing monetary
values, and which, consequently is available for the payment of the debts of
the business.
“Equity” include all the vested rights of person in the assets of the business.
It is classified into the following:
1. Equity of outsiders or amounts owing to persons
other than the owners of the business, technically known as “liabilities”
2. Equity of owner, known in the accountant’s

language as “capital”
LIABILITIES
EQUITIES
CAPITAL
Since there are two sources of equities, one from the creditors and the other
from the owner, then we can express the accounting equation as:
ASSETS = LIABILITIES + CAPITAL
Every transaction must be analyzed with respect to its effects on the assets,
liabilities and capital of the business. A transaction involves at least two of
the elements appearing on the accounting equation.
To illustrate, assume the following transactions:
Oct. 1- Mr. Juan Dela Cruz opened a motor repair shop and invested P100
000 cash.
A = L + C
Cash = + Gil, capital
P100 000 = 0 + P100 000
P100 000 = P100 000
Effect: Increase in asset, increase in capital

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Oct. 3- He purchased repair supplies worth P25 000 on credit from Rosario
Trading.
A = L + C
Cash+Repair Supplies = Accounts Payable + Gil, capital
P100 000+P25 000 = P25 000 +100 000
P 125 000 = P 125 000
Effect: Increase in asset, increase in liabilities
Oct. 5- He bought a table and chairs for the business, P 6 000 in cash.
A = L + C
Cash+Repair Supplies+Furniture = Accounts payable + Gil,
capital
P100 000+P25 000+P6 000 = P25 000 + P100 000
(6 000)_____________________ = __0_________________0_____
P94 000+P25 000+P6 000 = P25 000 + P100
000
P 125 000 = P125 000
Effect: Increase in one form of asset, decrease in another form of asset
Oct. 12- Issued a promissory note to Rosario Trading to apply on his

account in Oct. 3.
A = L +
C
Cash+Repair Supplies+Furniture =Accounts payable+Notes payable+Gil,
capital
P94 000+P25 000+P6 000 = P25 000 +
P100 000
0 = (25 000) + P25 000 + 0
P94 000+P25 000+P6 000 = 0 +P25 000 +
P100 000
P 125 000 = P125 000
Effect: Decrease in one form of liabilities, increase in another form of
liabilities.
Oct. 15- Paid the salary of the assistant, P 2 000.

A = L + C
Cash+Repair Supplies+Furniture =Accounts payable+Notes payable+Gil,
capital
P94 000+P25 000+P6 000 = 0 + P 25 000
+P100 000
( 2 000) = 0 +( 2 000)
P92 000+P25 000+P6 000 = 0 + P 25 000+P 98
000
P 123 000 = P 123 000
Effect: Decrease in asset, decrease in capital
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Oct. 20- Paid the note issued to Rosario Trading in Oct. 12.
A = L + C
Cash+Repair Supplies+Furniture =Accounts payable+Notes payable+
Gil, capital
P92 000+P25 000+P6 000 = 0 + P 25 000+ P
98 000
(25 000) = (25 000) +
0________
P67 000+P25 000+P6 000 = 0 +
P98 000
P 98 000 = P 98 000
Effect: Decrease in asset, decrease in liabilities
To illustrate the whole transaction using accounting equation:
A = L + C
Cash+Repair Supplies+Furniture =Accounts payable+Notes
payable+Gil, capital
Oct. 1 P100 000 = 0 +P100
000
Oct. 3 _____ P 25 000 = P25 000 +
0_______
P100 000+P25 000 = P25 000
+100 000
P 125 000 = P 125 000
Oct. 5 (6 000) P6 000 = 0 +
0
P94 000+P25 000+P6 000 = P25 000
+P100 000
P 125 000 = P125 000
Oct. 12 _______0 = (25 000) + P25 000 +P100
000
P94 000+P25 000+P6 000 = 0 +P25 000
+P100 000
P 125 000 = P125 000
Oct. 15( 2 000) = 0 +( 2
000)
P92 000+P25 000+P6 000 = 0 + P 25
000+P 98 000
P 123 000 = P 123 000
Oct. 20 (25 000) = (25
000+0________
P67 000+P25 000+P6 000 = 0 +
P98 000
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P 98 000 = P 98 000
Self-Check No. 1.3-2

ACCOUNTING EQUATION
State the effects of the following transactions on the assets, liabilities and
capital by putting a check if there is an increase or decrease on them.

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Transactions Assets Liabilities Capital
Inc Dec. Inc. Dec. Inc. Dec.
1.Purchased supplies for
cash
2.Purchased equipment
on account
3.The owner invested cash
in the business
4.Paid the equipment
purchased in no. 2
5.Borrowed money from
the bank to be used in
the business
6.The owner withdraw
cash for his personal
use
7.Purchased furniture and
fixture on account
8.Purchased defective
furniture purchased in
no. 7
9.Purchased additional
supplies on account
10. Paid half of the loan in
no. 5
Answer Key 1.3.2

ACCOUNTING EQUATION
Transactions Assets Liabilities Capital

Inc Dec. Inc. Dec. Inc. Dec.

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1.Purchased supplies for
cash √ √
2.Purchased equipment
on account √ √
3.The owner invested cash
in the business √ √
4.Paid the equipment
purchased in no. 2 √ √
5.Borrowed money from
the bank to be used in √ √ √
the business
6.The owner withdraw
cash for his personal √ √
use
7.Purchased furniture and
fixture on account √ √
8.Returned defective
furniture purchased in
no. 7 √ √
9.Purchased additional
supplies on account √ √
10. Paid half of the loan in
no. 5 √ √
Information Sheet No.1.3-3

PREPARE JOURNAL ENTRIES
1. Define journalizing.
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2. Determine the accounting cycle.
3. Journalize transactions
JOURNALIZING
Journalizing is the first step in the accounting cycle. It is the process

of recording business transactions in a journal. In order to have a
permanent record of an entire transaction, the accountant uses a book or
record known as a journal. A journal entry is the recording of a business
transaction in a journal. A journal entry shows all of the effects of a
transaction as expressed in terms of debit and credit and may include an
explanation of the transaction. A transaction is entered in a ledger accounts.
Because each transaction is initially recorded in a journal rather than
directly in the ledger, a journal is called the book of original entry. The
journal contains chronological or date wise record of business transactions,
the account debited and credited their respective amounts. Each entry is
recorded so that the duality or equilibrium or recording is maintained in
equation form:
Assets = Liabilities + Owner's Equity
and
Debits = Credits
Steps for the Process of Journalizing:
Following are the steps involved in the process of journalizing a transaction:
(i) Determine the titles of the accounts involved.
(ii) Understand nature of the accounts.
(iii) Apply the rule of Debit & Credit described above.
(iv) And make the necessary journal entry.
JOURNAL EXAMPLE
The following illustration draws upon the facts for the Xao Corporation.
Specifically it shows the journalizing process for Xao’s transactions. Review
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it carefully, specifically noting that it is in chronological order with each
transaction of the business being reduced to the short-hand description of
its debit/credit effects. For instance, the first transaction increases both
cash and equity. Cash, an asset account, is increased via a debit. Capital
Stock, an equity account, is increased via a credit. The next transaction
increases Advertising Expense "with a debit" and decreases Cash "with a
credit."
Note that each transaction is followed by a brief narrative description;

this is a good practice to provide further documentation. For each
transaction, it is customary to list "debits" first (flush left), then the credits
(indented right). Finally, notice that a transaction may involve more than
two accounts (as in the January 28 transaction); the corresponding journal
entry for these complex transactions is called a "compound" entry.
In reviewing the general journal for Xao, note that it is only two pages
long. An actual journal for a business might consume hundreds and
thousands of pages to document its many transactions. As a result, some
businesses may maintain the journal in electronic form only.

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SPECIAL JOURNALS
The illustrated journal was referred to as a "general" journal. Most

businesses will maintain a general journal. All transactions can be recorded
in the general journal. However, a business may sometimes find it beneficial
to employ optional "special journals." Special journals are deployed for
highly redundant transactions.
For example, a business may have huge volumes of redundant

transactions that involve cash receipts. Thus, the company might have a
special cash receipts journal. Any transaction entailing a cash receipt would
be recorded therein. Indeed, the summary total of all transactions in this
journal could correspond to the debits to the Cash account, further
simplifying the accounting process. Other special journals might be used for
cash payments, sales, purchases, payroll, and so forth.
The special journals do not replace the general journal. Instead, they
just strip out recurring type transactions and place them in their own
separate journal. The transaction descriptions associated with each
transaction found in the general journal are not normally needed in a

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special journal, given that each transaction is redundant in nature. Without
special journals, a general journal can become quite voluminous.
PAGE NUMBERING
Second, notice that the illustrated journal consisted of two pages
(labeled Page 1 and Page 2). Although the journal is chronological, it is
helpful to have the page number indexing for transaction cross-referencing
and working backward from financial statement amounts to individual
transactions. The benefits of this type of indexing will become apparent in
the general ledger exhibits within the following section of the chapter. As an
alternative, some companies will assign a unique index number to each
transaction, further facilitating the ability to trace transactions throughout
the entire accounting system.
RECAP
The general journal does nothing to tell a company about the balance
in each specific account. For instance, how much cash does Xao
Corporation have at the end of January? One could go through the journal
and net the debits and credits to Cash (P25,000 - P2,000 + P4,000 - P500 +
P4,800 - P5,000 = P26,300). But, this is tedious and highly susceptible to
error. It would become virtually impossible if the journal were hundreds of
pages long. A better way is needed. This is where the general ledger comes
into play.
Self-Check No. 1.3.3

Comprehension: Following are the steps involved in the process of

journalizing a transaction, analyze the following transactions. Write in the
blank the proper account titles.
Mr. Jon invests $5000 cash in the business. Let us analyze this transaction.
(i) Title of relevant accounts : 1.)________________ and 2.)________________
(ii) Nature of account : 3.)_______________________and 4.)________________
(iii) Apply the rule : 5.)_____________________ Debit and 6.) ____________Credit

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(iv) Journal entry : 7.)___________ Debit. and 8.)___________________9.)Credit
P_____________
10.The transaction above is also called as__________________________
Answer Key 1.3.3

1. Cash
2. Capital
3. Assets
4. Equity
5. Cash
6. Capital
7. Cash
8. Capital
9. 5000
10. Journalizing

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TASK SHEET 1.3.1
Title: PREPARE JOURLNAL ENTRIES
Performance Objective: Given the materials and equipment needed, you

should be able to journalize transactions in 1
hour.
Supplies/Materials : Calculator
Paper
Learning Materials
Pencil
Eraser
Equipment : Table , Chair
Steps/Procedure:
1. Based on first month’s operation of Mr. Rose (refer to transactions
below) determine the titles of the accounts involved.
2. Apply the rule of debit and credit .
3. Supply an explanation of each transaction whenever necessary.
4. Make the necessary journal entry for each transaction.
ASSESSMENT METHODS:
 Written test
 Interview

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JOURNALIZE TRANSACTIONS
The following transactions relate to the first month's operation of Mr. Rose:
(January 1) He invested a total amount of P70000 in the form of cash,

P45000 land valued at P5000 and building valued at P20000.
(January 2) Deposited P15000 cash into the bank.
(....3) Purchased merchandise for cash P3000.
(....4) Merchandise purchased on account from ABC and Company P10000.
(....5) Purchase a Delivery Truck from XYZ Autos P20000 and issued a
Promissory note.
(....6) Cash sales P5500.
(....9) Sold merchandise to MS & Co. P7500 on account.
(....12) Purchased two plots of land for cash P15000.
(....14) Purchased merchandise from NS & Co. for P15000.
(....15) Cash sales P7500.
(....16) Mr. Rose withdrew merchandise-costing P500 for personal use.
(....18) Made full payment to ABC & Co. by cheque for merchandise
purchased on credit.
(....20) Paid through cheque P1800 for a television advertisement.
(....25) Mr. Rose made an additional investment of P25000, which is

deposited into bank.
(....26) Received cheque of P5000 from MS & Co. and deposited the same
into the bank.
(....27) Withdrew cash from bank for office use P5000.
(.....28) Paid electricity bills for the month P500.
(....29) Issued a cheque of P6000 to NS & Co.

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(....30) Paid salaries to staff P3000.
(....31) Owner withdrew from bank P2500 for personal use.
Required: Journalize the above transactions.
Performance Criteria Checklist no. 1.3.1

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Did you…. YES NO
-prepare journals in accordance with industry practice and
generally accepted accounting principles/Philippine
Financial Reporting Standards for transactions and events.
-determine debit account titles in accordance with chart o
accounts.
-determine credit account titles in accordance with chart of
accounts
-prepare explanation to journal entry in accordance with the
nature of transaction.
-prepare journal entries with 100% accuracy

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INSTITUTIONAL
ASSESSMENT
TOOLS

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EVIDENCE PLAN
Competency Chosen Qualification
standard:
Unit of competency:
Demonstration & Questioning

Observation & Questioning
Prepare computer-aided drawings
Third party Report
Written Test
Portfolio
The evidence must show that the trainee…
List all Performance criteria of chosen core
competency
On the right, fill up each criterion with how
you will assess it,may it be Observation &
Questioning, Demonstration & Questioning,
Third party Report, Portfolio or Written Test
Then, read the Critical Aspects of
competency in your chosen core competency
Under Evidence guide
Then put an asterisk on those performance
criteria that should be a critical aspect
NOTE: *Critical aspects of competency

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SPECIFIC INSTRUCTION FOR CANDIDATES
Qualification Qualification title
Project Chosen core competency
Unit of Competency List all Learning Outcomes/elements of your
chosen core competency
Covered:
1. Using the given supplies, tools, instrument and equipment, demonstrate

the task listed below:
 Learning Outcome/element no.1 in Time to perform task
2. The assessment shall be based on the units of competency in the Training
Regulations and the Evidence Plan and shall focus on the following
evidence
gathering methods:
3. Answer the oral questions to be asked by the assessor related to your
demonstration.
4. The final assessment will be the responsibility of your accredited
Assessor.
5. Your Assessor shall provide you feedback at the end of the assessment.
The feedback shall indicate whether you are:

 COMPETENT
 NOT YET COMPETENT

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TABL
E OF
SPE
CIFI
CATI
Objectives/Content Compre # of items/ ON
Knowledge Application
area/Topics hension % of test
Learning Learning
Outcome/element outcome
no.1 no.1 sum of
%
Learning Learning
no.2 no.2 sum of
%
Learning Learning
no.3 no.3 sum of
%
Learning Learning
no.4 no.4 sum of
%
Along
TOTAL Along 25% Along 50% (100%)
25%
WRITTEN TEST
Name of qualification
Name of competency
INSTRUCTIONS:
Read the direction carefully.

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1. DO NOT WRITE ANYTHING ON THE QUESTIONNAIRE. Use the
answer sheets provided.
2. Test duration is 30 minutes. In case of finishing the test in less than

30 minutes, you can already submit your questionnaire and answer
sheet to the proctor.
3. This is a MULTIPLE CHOICE type of test. Write the letter that best
corresponds to your choice of answer on the answer sheet provided.
Please do not turn the page unless your proctor told you to do it. Return the
questionnaire to the proctor together with your answer sheet on or before
the end of 30 minutes.
(30 items WRITTEN TEST.Multiple Choice. Coverage is the chosen core

competency OR you can just copy the Pre Test from before)

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WRITTEN TEST ANSWER KEY
(Provide answer key for the 30 item WRITTEN TEST above)

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L :
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DEMONSTRATION CHECKLIST WITH ORAL QUESTIONING
Trainee’s name: Morin Cardenaz
Trainer’s name: Mark Anthony g. marallag
Project-Based Asian College of Science and Technology
Assessment:
Qualification: Bookkeeping nc III
Unit of Competency Journalize Transaction
Date of assessment: Must be on training period
Time of assessment: Time allotment of the demonstration
Instructions for demonstration
Given the necessary materials, tools and equipment, the candidate must
be able to (task to be demonstrated)
Materials and equipment

List all tools, materials and equipment to be used during the
demonstration
OBSERVATION  to show if evidence is
demonstrated
During the demonstration of skills, did the
Yes No N/A
candidate:
List all performance criteria from the

chosen core competency



The candidate’s demonstration was:
Satisfactory  Not Satisfactory 
QUESTIONING TOOL

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Satisfactory
Questions to probe the trainee’s underpinning knowledge
response
Extension/Reflection Questions Yes No
1. Give sample questions to be asked to the candidate. 
2. 2 questions each per category 
Safety Questions
3. 
4. 
Contingency Questions
5. 
6. 
Job Role/Environment Questions
7. 
8. 
Rules and Regulations
9. 
10. 
The trainee’s underpinning Satisfactory  Not

knowledge was: Satisfactory
Acceptable/Model Answers
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Give probable answers from the questions to be asked to the
candidate.
LIST OF TOOLS, EQUIPMENT AND MATERIALS

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Section 3.4 of the Training Regulation
TRAINING FACILITIES
Section 3.5 of the Training Regulation

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TRAINING ACTIVITY MATRIX
DATE: One day within the training period
FACILITIES/TOOLS
ACTIVITY TRAINEES VENUE DATE TIME
AND EQUIPMENT
One day
Create activities to be within the
Designate List All tools, materials Venue of the
conducted during One training
people doing and equipment to be used task (9 CBT 8:30 am
day within the period
the said tasks per task Areas)
training period
Same as
above 10:30
(Microteaching)
am
Same as
above
BREAKTIME 12-1 pm
Same as
above 1–2:30
pm
Same as
above 2:30–
3:30

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Same as
above 3:30–
4:30 pm
Same as
above 4:30–5
pm
Prepared by: Date: One day within the training

period
Your Name
Checked by: Name of Staff Date: One day within the training
period

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c

Sector: HEALTH, SOCIAL AND OTHER COMMUNITY DEVELOPMENT

Qualification Title: BOOKKEEPING NCIII

Unit of Competency: JOURNALIZE TRANSACTIONS

Module Title: JOURNALIZING TRANSACTIONS

Learning Outcome: PREPARE CHART OF ACCOUNTS

Developed By: MARK ANTHONY G. MARALLAG

Date Developed: Document No.

Welcome to the module in “Journalize Transaction” This module

The unit of competency "Journalize Transaction” contains the

If you can demonstrate to your trainer that you are competent in a

Date Developed: Document No.

Date Developed: Document No.

Performance Criteria Checklist

Self Check Answer Key

Learning Outcome Summary

Date Developed: Document No.

No. Unit of Competency Module Title Code

PREPARE TRIAL PREPARING TRIAL

PREPARE FINANCIAL PREPARING FINANCIAL

REVIEW INTERNAL REVIEWING INTERNAL

Date Developed: Document No.

UNIT OF COMPETENCY: JOURNALIZE TRANSACTION

MODULE TITLE : JOURNALIZING TRANSACTION

MODULE DESCRIPTOR : This unit covers the knowledge, skills, and

QUALIFICATION LEVEL: NC III

Upon completion of this module, the students/trainees must be able to:

1. Prepare chart of accounts

1. Nature of business is determined based on client

Date Developed: Document No.

Date Developed: Document No.

QUALIFICATION TITLE : BOOKKEEPING NCIII

MODULE TITLE : JOURNALIZING TRANSACTIONS

MODULE DESCRIPTOR : This unit covers the knowledge, skills, and

Date Developed: Document No.

 Definition and functions of bookkeeping & accounting

The students/trainees must be provided with the following:

LEARNING OUTCOME # 2 Analyze documents

 Types of Business Documents

The students/trainees must be provided with the following:

Date Developed: Document No.

 Generally Accepted Accounting Principles

The students/trainees must be provided with the following:

Date Developed: Document No.

If you have any questions or any

Date Developed: Document No.

If you have any questions or any

Date Developed: Document No.

Information Sheet 1.1.1

After reading this info sheet, you must be able to:

Journalizing is the first step in the accounting cycle. It is the process

Date Developed: Document No.

Sole Proprietorship – Is owned by one individual and they are easy to

Date Developed: Document No.

2. The objective of most business is to?

4. A is organized under states statutes as a separate legal taxable

Date Developed: Document No.

Date Developed: Document No.

INFORMATION SHEET 1.1.2

Date Developed: Document No.

After reading this info sheet, you must be able to:

1. Familiarize in the different types of accounts.

2. Define and Classify Chart of Accounts