SENIOR HIGH SCHOOL LEARNER’S ACTIVITY SHEET

School: COLEGIO DE SAN PASCUAL BAYLON Semester Term: Second Semester

School Year: 2024 - 2025 Quarter Period: Second Quarter
Name: Score:
Grade & Section: Date:
Subject: FABM 2 Teacher: Ricardo R. Martinez Jr.
Strand: Accountancy, Business and Management (ABM) – Grade 12
Type of Activity: _____ Concept Notes _____ Written Activity _____ Performance Task

FABM2_LAS_05
ACTIVITY TITLE: The Ten-Column Worksheet

COMPLETION OF ACCOUNTING CYCLE

Worksheet is a working paper used to assist preparation of financial statement. It also becomes
analysis paper of an accountant showing data from unadjusted trial balance to financial statement.
Procedure in making 10 Columns Worksheet:
1. Enter the heading of worksheet at topmost part of worksheet.
2. Prepare and make the following heading columns of the worksheet.

Unadjusted Trial Adjusted Trial Income

Account Adjustments Balance Sheet
Balance Balance Statement
Titles
Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr

3. Copy the trial balance on the unadjusted trial balance column which includes all information such as
account titles and balances of trial balance.
4. Write in adjustment column all the information of adjusting entries such as the account titles,
debit, and credit amount. In every adjusting entry entered in adjustment column, write in
parenthesis the corresponding index number or letter. You may write below the unadjusted trial
balance all the accounts not found in the unadjusted trial balance.
5. Calculate the total adjustment column.
6. Extend and combine all information of unadjusted trial balance and adjustment column to adjusted
trial balance. If the amount is both debit and both credit amount, you may add both debit and credit
amount. Then, extend the balances to debit column or credit column. And if the amount is one debit
and one credit, subtract both amounts then extend to column which has a bigger amount.
7. Add the debit and credit column of adjusted trial balance to prove equality of debits and credits.
8. Extend all information of adjusted trial balance to “Balance Sheet column and Income Statement
column”. All Assets, Liabilities and Capital to the Balance Sheet column, then the Expense accounts
and revenue are extended to Income Statement. Add the debit and credit of the Income Statement
and Balance Sheet column. Find the difference of the debit and credit sides of the Income
Statement and Balance Sheet. The results of the differences of both columns should be equal,
otherwise, an error or errors have been committed.
9. Determine whether the Income Statement is net income or net loss:
A. If the total credit column > total debit column, the result is net income.
B. If the total credit column > total debit column, the result is net income. Place the word
“Net Income” or “Net Loss” to the account column titles.
10. Calculate and put in the final total, then double rule.
Transaction 1:

MARTINEZ REPAIR SHOP

Trial Balance
December 31, 2018

ACCOUNTS DEBIT CREDIT

Cash 50,900
Accounts Receivable 25,600
Repair Supplies 35,000
Repair Tools 35,000
Furniture & Fixtures 27,200
Service Truck 155,000
Accounts Payable 26,400
Martinez, Capital 250,300
Martinez, Drawing 10,000
Repair Revenue 95,000
Advertising 5,000
Salaries & Wages 10,000
Rent Expense 12,000
Utility Expense 6,000
TOTAL 371,700 371,700

On December 31, 2018, the following data were taken:

1. An actual count of repair supplies showed a balance of 15,000.
2. Repair tools are depreciated at 10% per year.
3. Furniture and Fixtures are estimated to have a useful life for 3 years while service truck has a
useful life of 10 years. Both assets were bought on September 1, 2018.
4. On the Income received, P 15,000 is applicable to the next accounting period.
5. Accrual of expenses: Salaries & Wages P 5,000 and rent P 6,000.

MARTINEZ REPAIR SHOP

Adjusting Journal Entries
Page No. 01
2015 Account Titles and Explanation F Debit Credit
December 31 (1) Repair Supplies Used 20,000
Repair Supplies 20,000

(2) Depreciation Expense – Repair Tools 3,500

Accumulated Depreciation – Repair Tools 3,500

(3) Depreciation Expense – F&F 3,000

Accumulated Depreciation – F&F 3,000

(3) Depreciation Expense – Service Truck 5,168

Accumulated Depreciation – Service Truck 5,168

(4) Repair Income 15,000

Unearned Repair Income 15,000

(5) Salaries and Wages 5,000

Accrued Salaries & Wages 5,000

Rent Expense 6,000

Accrued Rent Expense 6,000
 MARTINEZ REPAIR SHOP
Statement of Comprehensive Income
For the month ended December 31, 2018

MARTINEZ REPAIR SHOP

Statement of Changes in Owner’s Equity
For the month ended December 31, 2018

MARTINEZ REPAIR SHOP

Statement of Financial Position
For the month ended December 31, 2018
 SENIOR HIGH SCHOOL LEARNER’S ACTIVITY SHEET
School: COLEGIO DE SAN PASCUAL BAYLON Semester Term: Second Semester
School Year: 2024 - 2025 Quarter Period: Second Quarter
Name: Score:
Grade & Section: Date:
Subject: FABM 2 Teacher: Ricardo R. Martinez Jr.
Strand: Accountancy, Business and Management (ABM) – Grade 12
Type of Activity: _____ Concept Notes _____ Written Activity _____ Performance Task

FABM2_LAS_05
ACTIVITY TITLE: The Ten-Column Worksheet

Transaction 2

The unadjusted trial balance of Sassy Mo Beauty Salon is as follows:

Account Title Debit Credit

Cash 15,430
Accounts Receivable 5,900
Office Supplies 22,800
Prepaid Rent 36,000
Equipment 80,000
Accounts Payable 5,200
Notes Payable 20,000
Utilities Payable 3,964
Mo, Capital 100,000
Mo, Drawing 5,000
Service Revenue 86,600
Wages Expense 38,200
Advertising Expense 5,000
Utilities Expense 3,964
Miscellaneous Expense 3,470
TOTAL 215,764 215,764

The following are relevant information of Sassy Mo Beauty Salon:

1. Office supplies having original cost of P22,800 is shown on unadjusted trial balance. At the end of
the month P4,320 were unused.
2. The first month of rent is already used.
3. The equipment costing P80,000 has useful life of 5 years and its estimated salvage value is
P14,000. Depreciation is provided using the straight-line depreciation method.
4. The interest rate on P20,000 note payable in the purchase of equipment is 9%. Accrue the interest
for one month.
5. Accrued salary of the employee for third and fourth week amounting to P 19,100.

Requirement:
1. Prepare a ten-column worksheet.
2. Prepare the following financial statement:
A. Statement of Comprehensive Income
B. Statement of Changes in Owner’s Equity
C. Statement of Financial Position