Beruflich Dokumente
Kultur Dokumente
Business Plan - it is a document that describes the various external and internal elements involved in starting a business
or in expanding an existing venture, amidst a dynamic business environment. There are 12 major sections of the
business plan.
Marketing Plan - it is a document containing the marketing objectives, marketing strategies, and the activities that will be
undertaken to execute these strategies.
Organizational Plan - it is the section of the business plan that identifies the form of ownership the business will take.
Sole Proprietorship - this is the simplest form of business as it is owned solely by an individual or one person.
Partnership - it is a business organization owned jointly by two or more persons who share the assets, liabilities and
profits.
Corporation - it is a kind of business organization wherein five or more persons register a business entity. A business that
is chartered by a state and legally operates apart from its owners; owned by stockholders who have purchased
units or shares of the company.
Assets - it is a resources controlled by the enterprise as a result of past transactions or events and from which future
economic benefits are expected to flow to the enterprise.
Liabilities - it is the present obligations of the enterprise arising from past transactions or events.
Capital - it is the residual interest in the assets of the enterprise after deducting all its liabilities and can be so called as
net worth or equity.
Income - it is the inflow of the future economic benefits that increase equity, other than the contributions or investments
from owners.
Drawings - it refers to the withdrawals made by an owner from the enterprise.
Expenses - it refers to the outflows or consumption of future economic benefits that decrease equity other than
distributions or dividends paid to owners.
Income Statement - it is the means by which the information accumulated and processed in financial accounting is
periodically communicated to the users.
Balance Sheet - it is a formal statement showing the financial position of the enterprise as of a particular date.
Sample Problem:
1. Mr. Paul Alarcon started business by investing P7,500 cash. In addition, the business assume a
payable of Mr. Alarcon accounting to P1,500.
Solution:
Accounting equation: ASSETS = LIABILITIES + PROPRIETORSHIP
A = P1,500 + 7,500
A = P9,000
2. Mr. Samson invested assets worth P20,000. Capital of Mr. Andres is computed as P15,000.
Solution:
Accounting equation: LIABILITIES = ASSETS – PRORIETORSHIP
L = P20,000 – 15,000
L = P5,000
3. Mr. Singson gave cash amounting P75,000. However, a P25,000 payable by him to PNB assumed
by the business.
Solution:
Accounting equation: PROPRIETORSHIP = ASSETS – LIABILITIES
P = P75,000 – 25,000
P = P50,000
CHIT MANLUNAS
Balance Sheet
As of December 31, 2008
Assets
Cash P5,325
Accounts Receivable 750
Delivery Equipment 16,500
Furniture and Fixture 1,950
Total Assets P24,435