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DON JOSE INTEGRATED HIGH SCHOOL

Diagnostic Examination-FABM2

LEARNING COMPETENCIES WEEK

FIRST GRADING OF FIRST SEM


1 Identify the elements of the SFP(Balance Sheet) and describe each of them.
2 Classify the elements of the SFP into current and non-current items.
3 Prepare the SFP of a single proprietorship. 1-2
Prepare the SFP using the report form and the account form with proper
4 classification of items as current and non-current

Identify the elements of the SCI (Statement of Comprehensive Income/Income


Statement and describe each of these items for a service business and
1 merchandising business. 3-4
2 Prepare an SCI for a service business using the single step approach.
3 Prepare an SCI for a merchandising business using the multi-step approach.
1 Discuss the different forms of business organization
5
2 Prepare an SCE(Statement of Changes in Equity) for a single proprietorship
1 Discuss the components and structures of a CFS(Cash Flow Statement)
6
2 Prepare a CFS

1 Define the measurement levels, namely, liquidity, solvency, stability and profitability
Perform vertical and horizontal analyses of financial statements of a single
2 proprietorship 7

Compute and interpret financial ratios such as current ratio, working capital, gross
profit ratio, net profit ratio, receivable turnover, inventory turnover, tobe-to equity
3 ratio and the like
SECOND GRADING OF FIRST SEM
1 Differentiate journal from general ledger
2 Determine the the normal balance of an account
1-2
3 Prepare journal entries to record basic business transactions
4 Determine the balances of accounts using the T-account.
1 Identify the types of bank accounts normally maintained by a business.
2 Differentiate a savings account from a current or checking account
3 Prepare bank deposit and withdrawl slips 3
4 Identify and prepare checks
5 Identify and understand the contents of a bank statement
1 Describe the nature of Bank Reconciliation statement
2 Identify common reconciling items and describe each of them
4
3 Analyze the effects of the identified reconciling items
4 Prepare a bank reconciliation statement
Perform the steps in the accounting cycle, from preparation of documents to the
1 preparation, analysis, and interpretation of financial statements. 5-6-7
1 Define income and business taxation and its principles and procesess.

8
Prepare the list of sources of gross income from compensation and gross income
from business and the corresponding personal and additional
2 deductions/exemptions.

8
3 Explain the procedure in the computation of gross taxable income and tax due
4 Prepare the BIR Forms
5 Explain the principles and puposes of taxation
6 Distinguish individual from business taxation
7 Compute the gross taxable income and tax due.
NO. OF No. of
DAYS TO Test Items Level of Dificulty and Item Placement
BE Total
TAUGHT
Easy (60%) Item No. Ave. (30%) Item No. Hard (10%) Item No.
1
1
10 1

10 3
1
1
3
5

3
5

5 2

2
2
10
2
1
1
1
5 1
1
1
1
3
5

15 10
1

5
2

1
1-5

6-10

11-13

14-16

17

18-19

20

21-22
23-24
25-26
27
28
29
30
31
32
33
34-36

37-46

47
48-50
DON JOSE INTEGRATED HIGH SCHOOL
Diagnostic Examination-FABM2
Semester1st S.Y. 2019-2020
Subject: FUNDAMENTALS OF ACCOUNTANCY, BUSINESS & MANAGEMENT 2
No. of Level of Dificulty and Item Placement
Days No. of Test
Learning Competencies
WEEK/NO. (Based on Items Remem Understa Applying Analyzin Evaluatin Total Placement
CG) bering nding g g
OF DAYS
Identify the uses of the two books of 1 1 1 1 1
1 account
1 week
(f) Illustrate the format of a general and 1 1 1 1 2
2 4 special journals
days
Illustrate the the format of a general and 1 1 1 2 3 3
3 subsidiary ledger
Describe the nature and give examples of
business transactions 1 1 1 1 2 4,5
4
Identify the different types of business
4 weeks 1 1 1 1 6
5 documents
(g-j)
16 days Analyze common business transactions 1 1 1 1 7
6-7 using the rules of debit and credit
Solve simple problems and exercises in 1 1 1 1 8,9
8-9 the analyses of business transaction
Describe the nature of transactions in a
service business 2 2 1 1 2 10,11
10-11
Record transactions of a service business 2 2 1 1 2 12,13
12-13 4 weeks in the general journal
14-16 (a-d) Post the transaction in the ledger 3 3 1 1 1 1 4 14,15,16,17
16 days
17-19 Prepares a Trial Balance 3 3 1 1 1 3 18,19,20
20-23 Prepare adjusting entries 3 3 1 1 1 3 21,22,23
24-25 Complete the accounting cycle 2 2 1 1 2 24,25
Describe the nature of transactions in a 3 3 1 1 1 3 26,27,28
26-28 merchandising business
Record transactions of a merchandising
business in the general journal and special 4 4 1 2 1 4 29,30,31,32
29-33 journal

6 weeks
(e-g)
24 days
Subject: FUNDAMENTALS OF ACCOUNTANCY, BUSINESS & MANAGEMENT 2
No. of Level of Dificulty and Item Placement
Days No. of Test
Learning Competencies
WEEK/NO. (Based on Items Remem Understa Applying Analyzin Evaluatin Total Placement
OF DAYS CG) bering nding g g

6 weeks Post the transaction in the general and


subsidiary ledgers 3 3 1 1 1 3 34,35,36
34-36 (e-g)
0 24 days Prepares a Trial Balance 1 1 1 1 33
37-40 Prepare adjusting entries 4 4 2 1 1 4 37,38,39,40
Complete the accounting cycle of a 4 3 1 1 1 3 41,42,43,44
41-44 merchandising business
Prepares the Statement of Cost of Goods 4 3 1 1 1 3 45,46,47
45-50 Sold and Gross Proifit
week(j) Income and Business Taxation 5 3 3 3 48,49,50
7dayd

TOTAL 50 50 15 15 8 7 5 50
Prepared:
FRANCES NOVA B. DELA PEÑA, MBA
SHST- III ABM

Checked:
JEWELL C. SASUYA
Academic Coordinator

Noted by:

ALVIN D. STA. MARIA, Ed.D


Principal I
Republic of the Philippines
Department of Education
Region IVA-CALABARZON
DON JOSE INTEGRATED HIGH SCHOOL
Diagnostic Examination-FABM2
1ST SEMESTER S.Y. 2019-2020

I. TRUE OR FALSE. WRITE TRUE if the statement is TRUE, and WRITE FALSE if the
statement is FALSE.
1 The Statement of Financial Position is also known as the Balance Sheet.
2 Land and building are examples of current asset.
3 The accounting cycle that covers a period of one calendar year, starting January 1 and
ends December 31 is called a calendar year.
4 ASSETS = LIABILITIES + CAPITAL is an accounting equation.
5 Statement of Financial Position below is an example of report form.
ABC Company
Statement of Financial Position
December 31, 2016

Assets: Liabilities and Owner's Equity:


Current Assets: Current Liabilities:
Cash 10,000.00 Accounts Payable 55,000.00
Inventory 2,000.00
Total ------- 12,000.00 Total ------------- 55,000.00

Noncurrent Assets Owner's Equity


Building 2,500,000.00 ABC Capital 5,457,000.00
Land 3,000,000.00
Total 5,500,000.00

Total Liabilities & Owner's


Total Assets ---------- 5,512,000.00 Equity 5,512,000.00

6
The income statement is also called profit and loss statement, presents an entity's result
of operations for a period of time.
7 Sales or service income are revenues or gross income from the sale of company's products
and services.
8 Utilities expense includes telephone, water, and electricity used.
9
Depreciation expense includes portion of the cost of building and equipment allocated to
one accounting period
10 Salaries expense includes rentals for the use of equipment, building and land space owned
by others.
11 Cooperative is the simplest form business organization.
12
Partnership is a separate body consisting of at least five individuals treated by law as a
unit. ''An artificial being created by operation of law, having the right of succession and
the powers.
13 A sole proprietorship is a business organization owned by one person.
14 A cash flow statement provides information about cash receipts and cash payments of an
entity during a period.
15
Cash flow from investing activities are cash flows for the acquisition or disposition of plant,
equipment, and investments.
16 Liquidity is the ability to pay current obligations
17 Profitability is the ability to generate reasonable return on investments.
18
Vertical analysis involves sideward comparison. It shows changes from year to year.
19 Comparative statements shows figures for the current period ONLY.
20
Net Working Capital is the excess of current assets after deducting current liabilities.
Republic of the Philippines
Department of Education
Region IVA-CALABARZON
DON JOSE INTEGRATED HIGH SCHOOL
Diagnostic Examination-FABM2

II. MULTIPLE CHOICE. Select the BEST ANSWER of your choice, WRITE the LETTER ONLY.

21 The ____________ is known as the book of original enrty.


a. journal b. general ledger c. sales book d. cash receipt book
22 The book of final entry is known as:
a. general ledger b. journal c. sales book d. cash receipt book
23 The normal balance of an ASSET account is:
a. DEBIT b. CREDIT c. both DEBIT and CREDIT d. none of the above
24 The normal balance of a LIABILITY is:
a. DEBIT b. CREDIT c. both DEBIT and CREDIT d. none of the above
25-26 Mr. X bought an equipment for cash amounting to Php750,000 to be used for business,
what is the correct journal entry:
a. Cash 750,000
Equipment 750,000

b. Equipment 750,000
Cash 750,000

c. Accounts Receivable 750,000


Equipment 750,000

d. Accounts Payable 750,000


Accounts Receivable 750,000

27 What side of T-account is the NORMAL BALANCE/NATURAL BALANCE of CASH ACCOUNT


in the illustration below?
CASH
____________________ a. CREDIT
DR CR b DEBIT
c BOTH DEBIT and CREDIT
d NONE OF THE ABOVE

28 It is a kind of bank account where a passbook is presented for cash deposits and cash
withdrawals.
a. Time deposit b. Current and checking c. savings account
d. None of the above
29
It is a kind of bank account where drawings are done by the writing of checks, signing the
same, and giving check to the payee for encashment or for deposit within a bank.
a. Time deposit b. savings account c. Current and checking
d. None of the above
30
The ______________ account is a combination of savings and current account . Deposits
and withdrawals are posted in the passbook , and checks are issued for withdrawal from
the account.
a. Time deposit b. savings account c. Combo account
d. Current and checking
31 The person or entity written on the check to whom payment is to be made.
a. Drawee b. Endorsement c. Deposit in transit d. payee
32 The ____________________ are reports from the bank to the client, showing addition to
and deduction from bank balance for a period of time.
a. Billing Statement b. Statement of account c. Memorandum
d. Bank Statement
Republic of the Philippines
Department of Education
Region IVA-CALABARZON
DON JOSE INTEGRATED HIGH SCHOOL
Diagnostic Examination-FABM2

33
It is a process of bringing into agreement the bank balance per bank and the balance per
book record of the depositor.
a. Bank Statement b. Statement of account c. Memorandum
d. Bank reconciliation
34 _____________ is the balance reported by the bank as of a specific date.
a. Bank balance b. Book balance c. statement d. None of the above
35 _____________ is the balance reported by the depositor as of a specific date.
a. Bank balance b. Book balance c. statement d. None of the above
36
______________ are checks drawn by the depositor and posted as reduction in the
depositor's records, but is not yet posted as reduction from the depository bank's record.
a. Deposit in transit b. outstanding checks c. Bank transfer
d. None of the above

III. ENUMERATION & FILL IN THE BLANKS


37-43 ACCOUNTING PROCESS: Enumerate the steps in accounting cycle IN ORDER.

The preparation of financial statements is not the end of accounting. The next step is
financial analysis and interpretation. The purpose of financial statement analysis is to
44-47 transform the data in the statements into information which is interpreted and used as
basis for better economic decisions and actions. Enumerate at least four users of Financial
Statements

48-50 Given the tax table below: Compute the income tax of the following;

48 An employee with an annual salary of Php150,000.00


49 An employee with an annual salary of Php255,000.00
50 An employee with an annual salary of Php600,000.00

Prepared:
FRANCES NOVA B. DELA PEÑA, MBA
Teacher III

Checked:

JEWELL C. CASTILLO
Academic Coordinator

Noted by:
Republic of the Philippines
Department of Education
Region IVA-CALABARZON
DON JOSE INTEGRATED HIGH SCHOOL
Diagnostic Examination-FABM2
ALVIN D. STA. MARIA, Ed.D
Principal I
ANSWER KEY- DIAGNOSTIC EXAMINATION FABM 2

1 1 21 a. journal 41 financial statements


2 0 22 a. general ledger 42 closing
3 1 23 a. DEBIT 43 post closing trial balance
4 1 24 b. CREDIT 44 INVESTORS
5 0 25 b. Equipment 750,000 45 EMPLOYEES
6 1 26 Cash 750,000 46 LENDERS
7 1 27 b. DEBIT 47 SUPPLIERS
8 1 28 c. savings account MANAGEMENT
9 1 29 c. Current and checking CUSTOMER
10 0 30 c. Combo account PUBLIC
11 0 31 d. payee GOVERNMENT AGENCIES
12 0 32 d. Bank Statement 48
13 1 33 d. Bank reconciliation 49
14 1 34 a. Bank balance 50
15 1 35 b. Book balance
16 1 36 b. outstanding checks
17 1 37 journalizing
18 0 38 posting
19 0 39 trial balance
20 1 40 adjusting
49) 255,000
-250,000
5,000
x 20%
1000

50) 600,000
-400,000
200,000
x25%
50000
30,000
80,000
ANSWER KEY- DIAGNOSTIC EXAMINATION FABM 2
1. TRUE
2. FALSE
3. TRUE
4. TRUE
5. FALSE hard
6. TRUE
7. TRUE
8. TRUE
9. TRUE hard
10. FALSE utilities expense
11. FALSE single proprietorship
12. FALSE corporation
13. TRUE
14. TRUE hard
15. TRUE
16. TRUE
17. TRUE
18. FALSE Horizontal analysis
19. FALSE current period and the preceeding period or periods.
20. TRUE
21. a. journal
22. a. general ledger
23. a. DEBIT
24. b. CREDIT
25,26
b. Equipment 750,000
Cash

27. b. DEBIT
28. c. savings account
29. c. Current and checking
30. c. Combo account
31. d. payee
32. d. Bank Statement
33. d. Bank reconciliation
34. a. Bank balance
35. b. Book balance
36. b. outstanding checks

37 journalizing
38 posting
39 trial balance
40 adjusting
41 financial statements
42 closing
43 post closing trial balance
44-47 INVESTORS
EMPLOYEES
LENDERS
SUPPLIERS
MANAGEMENT
CUSTOMER
PUBLIC
GOVERNMENT AGENCIES

48 0 (zero)
49 1,000.00 hard
50 80,000.00