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1. List down the all the sources of money you had, the exact amount and date you received it. SOURCES OF MONEY AMOUNT OF MONEY RECEIVED TOTAL 2. Separately list all the expenses you made by category. NATURE OF Transportation EXPENSE AMOUNT OF Tricycle - MONEY PAID Jeep - TOTAL

1. List down the all the sources of money you had, the exact amount and date you received it. SOURCES OF MONEY AMOUNT OF MONEY RECEIVED TOTAL 2. Separately list all the expenses you made by category. NATURE OF Transportation EXPENSE AMOUNT OF Tricycle - MONEY PAID Jeep - TOTAL

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PLAY WITH THE BILLS! Get 2 whole piece of paper, cut the paper into 30 pieces shaped-like a paper bills (size depends on your preference). Label the each cut paper with different amounts: 5 pcs. 5 pcs. 5 pcs. 5 pcs. 5 pcs. 3 pcs. 2 pcs. 1 peso 10 peso bill 5 peso 20 peso 50 peso 100 peso 500 peso bill bill bill bill bill bill Beginning of school year is near to come! You need to prepare the things you will be using in your classes. Assuming you received those paper bills from your family members: > On May 15, 2020, your father came home after work and gave part of his salary for your school needs. You received one 500 peso bill, 2 pcs 100 peso bills, 2 pcs 50 peso bills, and 4 pcs 20 peso bills. > Because your mother knew your money isn't enough to buy all the school stuff you need, she gave you one 500 peso bill, one 100 peso bill, 2 pcs 50 peso bills as she earned extra money from selling snacks on May 2020. > It was May 31, 2020 already, you are preparing yourself before you shop for your school stuffs, your older sister ask you to wash the dishes and gave you 50 pesos reward. > Before you go, you saw your piggy bank and counted the money you saved before, you collected one-20 peso bill, 5 pieces of each of 10 peso, 5 peso and 1 peso coins. > You counted all the money you have. How much you computed? - Now, you are ready to buy all the school stuffs! > You ride a tricycle and paid P35 pesos. > You arrived at Pandayan bookshop bought 7 pcs of your favorite animate design notebooks for P350 and several pens - 2 black pens for 12.50 pesos each, 1 blue pen 10 pesos, 1 red pen for 8.50 pesos and one black marker for 25 pesos. > You got thirsty and buy a drink for 25 pesos. > You ride a jeep and paid P7 pesos fare and you go on to the next shop, National Books store to buy other school supplies not available from pandayan, you spent P215.50 for accounting workbooks you bought. > You felt tired and rest in nearby snack store. You spent 125 pesos. > You proceed to your next destination and buy a pair of black shoes you want it costs P 750 pesos and buy new pair of school uniform for P450. You are now thinking if you still have extra money to buy others stuff, without looking again with the past activities you did, do you think you still have available money to buy other stuff? if yes, how much? . Thought Provoking! Can you remember the exact details of the trades you made with your money? Let us see if you can by honestly answering each of the item below. 1. List down the all the sources of money you had, the exact amount and date you received it. SOURCES OF MONEY AMOUNT OF MONEY RECEIVED ТОTAL 2. Separately list all the expenses you made by category. NATURE OF Transportation EXPENSE AMOUNT OF Tricycle- MONEY PAID Jeep - TOTAL 3. Reflect with vour experience in this activity. Did vou find it easy to monitor the
Transcribed Image Text:PLAY WITH THE BILLS! Get 2 whole piece of paper, cut the paper into 30 pieces shaped-like a paper bills (size depends on your preference). Label the each cut paper with different amounts: 5 pcs. 5 pcs. 5 pcs. 5 pcs. 5 pcs. 3 pcs. 2 pcs. 1 peso 10 peso bill 5 peso 20 peso 50 peso 100 peso 500 peso bill bill bill bill bill bill Beginning of school year is near to come! You need to prepare the things you will be using in your classes. Assuming you received those paper bills from your family members: > On May 15, 2020, your father came home after work and gave part of his salary for your school needs. You received one 500 peso bill, 2 pcs 100 peso bills, 2 pcs 50 peso bills, and 4 pcs 20 peso bills. > Because your mother knew your money isn't enough to buy all the school stuff you need, she gave you one 500 peso bill, one 100 peso bill, 2 pcs 50 peso bills as she earned extra money from selling snacks on May 2020. > It was May 31, 2020 already, you are preparing yourself before you shop for your school stuffs, your older sister ask you to wash the dishes and gave you 50 pesos reward. > Before you go, you saw your piggy bank and counted the money you saved before, you collected one-20 peso bill, 5 pieces of each of 10 peso, 5 peso and 1 peso coins. > You counted all the money you have. How much you computed? - Now, you are ready to buy all the school stuffs! > You ride a tricycle and paid P35 pesos. > You arrived at Pandayan bookshop bought 7 pcs of your favorite animate design notebooks for P350 and several pens - 2 black pens for 12.50 pesos each, 1 blue pen 10 pesos, 1 red pen for 8.50 pesos and one black marker for 25 pesos. > You got thirsty and buy a drink for 25 pesos. > You ride a jeep and paid P7 pesos fare and you go on to the next shop, National Books store to buy other school supplies not available from pandayan, you spent P215.50 for accounting workbooks you bought. > You felt tired and rest in nearby snack store. You spent 125 pesos. > You proceed to your next destination and buy a pair of black shoes you want it costs P 750 pesos and buy new pair of school uniform for P450. You are now thinking if you still have extra money to buy others stuff, without looking again with the past activities you did, do you think you still have available money to buy other stuff? if yes, how much? . Thought Provoking! Can you remember the exact details of the trades you made with your money? Let us see if you can by honestly answering each of the item below. 1. List down the all the sources of money you had, the exact amount and date you received it. SOURCES OF MONEY AMOUNT OF MONEY RECEIVED ТОTAL 2. Separately list all the expenses you made by category. NATURE OF Transportation EXPENSE AMOUNT OF Tricycle- MONEY PAID Jeep - TOTAL 3. Reflect with vour experience in this activity. Did vou find it easy to monitor the
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