Saint Francis Academy
Balamban Cebu
SY 2021-2022
Fundamentals of Accountancy, Business, and Management 1
Class No.: G-2
Name: Borgonia, Melanie Frances A.
Grade & Section: 11-A (ABM)
Activity 4 - DEBIT AND CREDIT (enhancement)
Directions: State the account and the amount to be debited and credited using the answer
sheet provided below:
A. S. ROCES AIR-CONDITIONING SERVICE AND REPAIR SHOP
1. S. Roces opened an air conditioning service and repair shop and began business by
investing P150,000 cash and the following additional assets: office equipment P35,000, tools
P16,000, and truck P105,000
2. Paid the rent of the shop P5,000
3. Purchased P7,200 of repair supplies on credit from A Fuentes
4. Purchased for cash a new computer P24,500
5. Paid for newspaper advertising P15,000
6. Completed repair work for S. Valdez and received P4,500 cash
7. Completed repair work for P. Fernando P14,500. Accepted P5,000 cash and a promise to
pay the balance in 30 days
8. Completed repair work for J. Estrada on credit P12,500
9. Received P800 from J. Estrada in partial payment of his account
10. Paid one-half of the account due to A. Fuentes
Answer Sheet: answer in number 1 is already provided.
DEBIT CREDIT
No. Account Title Amount Account Title Amount
1 CASH P150,000 S. ROCES, CAPITAL P306,000
OFFICE EQUIPMENT 35,000
TOOLS 16,000
TRUCK 105,000
2 RENT EXPENSE 5,000 CASH 5,000
3 REPAIR SUPPLIES 7,200 ACCOUNTS PAYABLE – A. 7,200
FUENTES
4 COMPUTER 24,500 CASH 24,500
5 ADVERTISING EXPENSE 15,000 CASH 15,000
6 CASH 4,500 SERVICE REVENUE 4,500
7 CASH 5,000 SERVICE REVENUE 14,500
ACCOUNTS RECEIVABLE – 9,500
P. FERNANDO
8 ACCOUNTS RECEIVABLE – 12,500 SERVICE REVENUE 12,500
J. ESTRADA
9 CASH 800 ACCOUNTS RECEIVABLE – 800
J. ESTRADA
10 ACCOUNTS PAYABLE – A. 3,600 CASH 3,600
FUENTES
B. T. CRUZ MOTOR REPAIR SHOP
1. T. Cruz invested P100,000 in a motor repair shop
2. Purchased repair supplies for cash P12,500
3. Purchased repair supplies from L. Guillen on credit P23,000
4. Completed repair work to V. Serna on credit P13,000
5. Completed repair work for a client and collected P15,000
6. Paid the amount owed to L. Guillen
7. Received P3,000 from V. Serna as partial payment of the account due from him
8. Paid for gas and oil placed in the service car P1,250
9. Purchased additional repair supplies P670 for cash
10. Completed repair work for a. Martinez on credit P9,800
11. Paid the salary of the shop assistant P2,500
12. Paid P5,000 for the shop space
13. Withdrew P5,000 cash for personal use
14. Collected the account due from A. Martinez
15. Received in full the account due from V. Serna
ANSWER SHEET:
DEBIT CREDIT
No. Account Title Amount Account Title Amount
1 CASH P100,000 CAPITAL – T. CRUZ P100,000
2 REPAIR SUPPLIES 12,500 CASH 12,500
3 REPAIR SUPPLES 23,000 ACCOUNTS PAYABLE – L. 23,000
GUILLEN
4 ACCOUNTS RECEIVABLE – 13,000 SERVICE REVENUE 13,000
V. SERNA
5 CASH 15,000 SERVICE REVENUE 15,000
6 ACCOUNTS PAYABLE – L. 23,000 CASH 23,000
GUILLEN
7 CASH 3,000 ACCOUNTS RECEIVABLE – 3,000
V. SERNA
8 DELIVERY EXPENSE 1,250 CASH 1,250
9 REPAIR SUPPLIES 670 CASH 670
10 ACCOUNTS RECEIVABLE – 9,800 SERVICE REVENUE 9,800
A. MARTINEZ
11 SALARY EXPENSE 2,500 CASH 2,500
12 RENT EXPENSE 5,000 CASH 5,000
13 WITHDRAWALS – T. CRUZ 5,000 CASH 5,000
14 CASH 9,800 ACCOUNTS RECEIVABLE – 9,800
A. MARTINEZ
15 CASH 10,000 ACCOUNTS RECEIVABLE – 10,000
V. SERNA
