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Cs Acct 11 - Assessment Acct 11 - 3

This document contains an accounting worksheet with 15 transactions. It provides the rules for debiting and crediting asset, liability, equity, revenue and expense accounts. It then lists the transactions with spaces to fill in the appropriate debit and credit accounts and amounts for each transaction related to operating a motor shop business.

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Danica del Rosario
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53 views3 pages

Cs Acct 11 - Assessment Acct 11 - 3

This document contains an accounting worksheet with 15 transactions. It provides the rules for debiting and crediting asset, liability, equity, revenue and expense accounts. It then lists the transactions with spaces to fill in the appropriate debit and credit accounts and amounts for each transaction related to operating a motor shop business.

Uploaded by

Danica del Rosario
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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Danica Del Rosario

Cs 2-A ACC 11-3

Debit to : Credit to :

1. Assets are increased by credits. Assets are Decreased by Credits.

2. Liabilities are increased by credits. Liabilities decreased by Debits.

3. Equity Accounts are increased by credits. Equity decreased by debits.

4. Revenue are increased by credits. Revenue decreased by debits.

5. Expenses are increased by debits. Expenses decreased by credits.

B. Using the answer sheet provided for, state the accounts and the amounts to be debited and
credited. (60 points)

NO. DEBIT AMOUNT CREDIT AMOUNT

1. Invested in  a motor P100,000


shop

2. Purchased  repair P12,500


supplies

3. Purchased  repair P23,000


supplies

4. Completed  repair  work P13,000

5. Completed  repair  work P15,000

6. Paid the  amount P23,000 Credit P23,000

7. Partial  payment from P3,000
V.  Serna

8. Paid for Gas and  Oil P 550


placed

9. Purchased  additional  repair P670 Cash


supplies

10. Repair  work for  A. Martinez P9,800 cash P 9,800

11. Paid the salary  of shop   P2,5000


assistance

12. Paid cash Shop space P 3,000

13. withdraw cash P 5,000

14. Amount P 9,800 A. Martinez


collected

15. Received  amount P 20,000 CASH


from V.  Serna
Danica Del Rosario
Cs 2-A ACC 11-3
ANSWER SHEET
ACCT 11 - 3

1. A. List down the rules on debit and credit. (20 points)

Debit to: Credit to:

B. Using the answer sheet provided for, state the accounts and the
amounts to be debited and credited. (60 points)
No. Debit Amount Credit Amount
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Bulacan Date Developed:


3 COMPUTER June 2020
Polytechnic Date Revised: Page 1 of 1
SECRETARIAL College July 2020
ACCT 11 Developed by:
Document No.
Principle of Accounting 50-ACCT 11 Sarah Joy Dumalay Martin Revision # 02

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