Book of Accounts

0:01 Ayan, so good morning! ma 'am! Good morning, Tutor Karol. Kamusta po kayo? Ay, napakaganda at napakasaya naman itong Friday na to. Kahit po last time ay nagkaroon tayo ng konting technicalities, but still, naitulay ni Tutor Karol. I want to congratulate Tutor Karol. Maraming salamat, Tutor Karol. It is really, um, nagulat ako noon na wala ako. na nagulat ako noon na wala ako pero andyan ka. naman kaya alam ko na itulay ng mabuting mabuti at maayos na maayos ang ating mga top, ang ating topic last week. Ayan. So ma 'am kamusta po ang ating, kamusta po kayo dyan? Nasa school ka ba ma 'am? Right now nasa bahay ako but after this magre -report ako sa school. Ako po na.

0:48 Siyempre po nandito na ako sa IT room namin hindi na ako papayag na may malaglag pa uli. Ayan ma 'am greet natin ma 'am ating mga kaitulay nakasama po natin ngayon at nanunood at patuloy po na tumatangkilig sa atin. Anyway, ah, by the way po, ako po si Tutor Carmi from SDO May Kawayan. Ayan, salamat po. Yes, and I am Tutor Carol from SDO Las Piñas City. Ayan, salamat po. Ayan, acknowledge natin ma 'am, ang ating mga ano ba yan? Nagbubulol ako. Ayan. acknowledge natin ma 'am. yung ating mga kasama dito at maraming marami po sila, ma 'am. Yes. Hindi po, shout out muna tayo bang bago tayo magsimula sa ating lesson for today. Okay. So, I have, we have here on

1:35 board na, watching na sila. Samara Guillamed, Princess Jane, Elizabeth Galliego, Kaelya Come from Mikawayan National High School. From Maykawayan National High School. Ann Fulinara. From Maykawayan also. Arlene, Joanna Ramirez. Angelin Yurong. Gwinnett Buyo. Deya, Justine, Princess Jane. Samantha Marinelle. Okay. May Ann Baldeo. Okay. So ang dami na nila. Ang dami na. Kasi nagsisimula na kami ng klase. Kaya sabi ko, manood kayo. Iko, manood kayo. No choice kayo, teacher niyo. No choice kayo. Teacher nyo. Ganon talaga. So habang mayroon tayong makakatulong to sa inyong pag -aaral, mga anak. Hindi laman kayo pitiliting manood nito,

2:25 pero ito po ay talaga namang makakatulong at makaka... At the same time po, may enjoy niyo po at malalaman niyo po kung ano po ba talaga ang accounting. Ayan, sige po. Yes. Sige po, iyanun na natin. Ma, magsimula na tayo ng ating lesson for today. Pagsimula na tayo ng ating lesson for today. Okay, so nasa quarter three, week five na tayo, no? And our topic is about the books of accounts. Yan, sige po, the books of accounts. Before we start po, ako po ang mauuna. Yan, sige po, happy women's month po sa lahat. Ayan po, until now po, sinicelebrate po natin yan. So, ma 'am, can you please state the objectives? Okay, okay. objectives for it this week, at the end of the session,

3:14 you will be able to illustrate the format of a general and special journals. And of course, you will be able to illustrate the format of a general and subsidiary ledgers. Okay, and tama po. Yan ay mga books. Napakadami nilang, tama po, and dami nilang matututunang mga libro. May ibang -ibang klase po kasi kayong mga libro na gagamitin po pag kayo po ay nag -accounting. mga libro na gagamitin po pag kayo po ay nag -accounting. Sige po. Okay. So, let's have first e -review of our past lessons. So, ito po ay nahulog na po ako that time kaya hindi na ito napakita ni Tutor Carol pero alam ko na -explain niya ito ng mabuti. Yes. Okay. So, using the T -account figure below, identify the correct position of the account balances and the normal balances of five

4:04 major accounts. balances and the normal balances of 5 Ayan po. Importante po naman intindihan natin ito at malaman po natin itong normal balances na ito it is because this will be the first step in your journey of recording transactions. Pag alam niyo po ito, hindi po kayo maliligaw. Okay, let's have first po yung number one. Number 1, saan po natin ilalagay ang debit number 1? Saan po natin ilalagay ang Saan po ba siya nakalagay doon po sa ating T -account figure? Para mas madali po natin kasing yung T -account po is the representation po ng ating mga account titles. Yan, sige po. Okay, sa left ba yan or sa right? Opo. Okay, sige

4:52 po. Sana may mga sumagot. Parang wala pa ma. Medyo maano pa. Parang wala pa. May delay tayo ma. May delay. Oo nga po kanina naglalag eh. Sige po. So, the normal Okay, the debit side is always in the Saan po? Tandaan po natin ang debit po ay laging nasa left side. Okay? Kahit po magbago po ang mga transactions, depending on the transaction, the debit ko is always at the left side of the account. Then, next we have number two. We have also the credit. Ayan. Medyo ito naman yung mga kinakabahan yung mga accounting student natin kapag naririnig na ninyo yung debit credit. Ayan. So, pag sinabi naman ating

5:42 credit, saan po natin nilalagay siya? It is always at the, sabi ni Miss Kaila Komet, it's always at the left side. Ay, yung palang ano yun, debit pala. So, how about po yung credit, saan po ni natin nilalagay yan? Ay, yung palang Ayan, sige. Mukha namang alam nila bang naglalag lang talaga sir. Ay ma 'am. Ayan, sige po. So, kung ang debit po ay nasa right side, of course, the credit is always at the left side. Ayan. So, what are the accounts? Okay, pag sinabi kasi nating normal balances, ito yung... di ba, may five major accounts tayo at may mga normal balances nila. Yun yung tinatawag natin default entry nila. Okay,

6:28 where the, when there is a transaction that increases the, meron po tayong nagdagdag, meron tayong ginawang transaction, dun po natin siya normally, kaya normal balance, normally po nire -record. So, number three, saan po siya? nakarecord? What is the normal balance of the asset? Okay, teacher, um, normal balance is, ano, the side of the account. Okay, once, it is the side where one particular account increases, no? Yes. So, dito nag -i -increase. Okay, saan din na? Okay, so number three, Sa left, okay. sa left, way, we don't use kasi the term left side, right side in accounting. We use

7:18 the word or the term debit and credit. Na ano lang silang, ma 'am. Medyo tama na. Yes, magagot ng number three ay sa left daw. But Vince Panganiban answered, number three ay sa debit side. Okay, tignan natin. Yes, it's correct. It's an asset. Okay, tignan natin. Yes, it's correct. Next, how about number four? Where do you usually or what is the normal balance for the drawings? is also known as withdrawal. Yes. Saan natin siya, ano, saan po natin siya nilalagay or inientrada, yan, yung mga Tagalog na,

8:03 ano, kapag canero say transaction. Aka, no? Kapag -anero pay transaction. to ng owner, no? Tita, tutor Carmi, for personal use. Ayan, number 4, marami na. May marami nang sumagot. Number 4 daw ay sa debit. Okay, tignan natin, ma 'am. Okay, very good. Drawings is in the debit side. How about number 5? So, sunod yata dyan, tutor Carmi is number 8, revenue. Ah, okay. Number 8, revenue. Okay, sige po. Number 8 tayo, children. Ay, expense nga. Expense. Okay, sige na.

8:54 Sorry, sorry, sorry. Okay po. Ah, alam na nila yung sagot, ma 'am. Yes. So, saan natin usually nilalagay yung normal balance po ng expense, it is always in the debit side. Okay po. Kasi nakaka -apekto po yun sa ating equity pagka meron tayo mga expenses po. Next, let's have number six. Where do you usually put or record the liabilities or normal balance for the liabilities? Number six, credit. Marami ng

9:43 sumagot no? they all answered number 6. They all answered number six. Ilalagay daw sa credit. side. Credit side. Tandaan po ninyo yan, kasi po yan po talaga yung inyong susundan para kayo po ay tama gin tama po yung pag -record po ninyo ng mga accounts. Then at number 7, the capital, where are you going to put the capital? What is the normal balance of the capital? Ayan, sige po. Okay, sige. Okay, ayan na,

10:28 meron na. Mariali, credit. Samantha, credit. Aisle, tubo. Kyla, come. Credit. Okay. Rani, Vince, credit side. Ma 'am, tama sila. Very good. So, let's have number eight. Let's have number eight, revenue. Where do you put or, of course, record the revenue? If there is an increase in your revenue, where are you going to record it? O yung kinikita ng inyong, o yung kita ng inyong business. Okay. Let's reveal the answer.

11:16 Sabi po nila ay credit daw po. Let's see if the answer is correct. Revenue. Ayan. It is also in the credit side. Ayan. So, yung mga grade 11 po natin dyan, tandaan po natin to kasi kayo po talaga ay kailangang by heart na alam niyo po ang mga normal balances para hindi rin po kayo malito when you do the journal entries. Okay? Let's reveal the answer. when you do the journal entries. Now, sabi nga po natin, normal balance, this affects of course all the accounts, the major accounts. Pag sinabi natin normal balance, this is usually the default kung saan po natin nilalagay o

12:03 kinientrada natin or nagre -record tayo kapag there is a transaction, okay? a transaction. accounting is based on double entry system. So, lagi po may corresponding, yung debit po natin ay may corresponding credit po yan. At kung ano po yung amount ng ating debit, syempre po, yun din dapat ang amount ng ating credit. Ibig sabihin po niyan, kunwari, meron po tayong binili sa ating business, syempre po, yung pinili po natin na yun ay merong halaga. Okay? Of course, the value of that product, meron siyang halaga. At the same time

12:48 po, yung halaga po na yun, pumasok yun sa ating business, nagkaroon tayo ng asset, tapos nagkaroon din tayo. O syempre, meron din pong possibility na meron pong lalabas sa ating business which is yung cash. So, mamaya makikita po natin, maiintindihan po natin yan. But, always remember po, pagka sinabi natin normal balance, lalo na po sa balance sheet account such as the asset and liabilities and owner's equity, pag -aralan mo yung asset po, ang kanyang normal balance is always in the credit side. It is where, when there is an increase in the transaction or in the business po, or yan po, dyan po natin siya

13:33 ina -enter. or in the business po, And of course po, kapag meron din pong mga nababawasan or may mga transactions po tayo, we have to analyze first the transaction at para malaman din talaga natin kung ito ba 'y binawas o ito ba 'y dinagdag. Pero kapag may nababawas po sa ating asset, syempre po, ito po ay laging nasa credit side. So, magkaiba naman po pagdating sa liabilities and owner's equity. Kasi po kapag meron pong increase in the transaction, there is a transaction po sa ating liabilities and owner's equity. It is always recorded in the credit side. So, the normal balance for the liabilities and owner's equity of the balance sheet, it is always in

14:22 the credit side. Ayan. And, of course, kung meron naman pong pagbabawas o nabawasan ang ating liabilities o ito, nakapagbayad tayo o kaya naman po tayo po ay nag -withdraw. Ayan. Yan po ang nangyayari po doon ay nababawasan at lagi po natin yan nire -record sa debit side. Next po ang ating infant statement account. Next po ang ating income statement account. So, sa income statement account kasi po ito ay actually part of the, ang na -apekta nito is yung ating equity. Diba? Kapag po tayo ay nagkakaroon ng revenue, of course, nanadagdagan ang ating equity. At when we incurred expenses, it also

15:09 decreases our equity. So, usually when we talk about revenue, it is pag na -increase po, okay? We talk about revenue, it is, pag may increase po, okay, nagkakaroon ng increase po sa ating revenue, the normal balance for that is in the credit side. So, yan po ang normal balance niya. Now, kapag naman po, nagkaroon po tayo ng nabawasan ng ating revenue, yan, contra -revenue na pinatawag po natin such as withdrawal, yan po, yan ay binirecord po natin sa debit side po. natin sa debit side po. Now, kapag meron pong increases naman doon sa expenses natin, we incurred expenses in our office, it is always, or in

15:57 office or business, it is always recorded at the debit side. Yan. po ang kanyang normal balance. And, of course, kapag naman po nabawasan, ito po ay nangyayari naman po at when we end, okay? kapag naman po nabawasan, natin po tayo. Pag nage -end na po tayo kasi nagpo -close na po tayo, nagte -credit po tayo ng expenses. Ayan. Ito po ay nasa credit side. Or sometimes tutor, Carmi, yung credit sa expenses during the adjusting entry. Ay, opo. Tama, ma 'am. Yes, exactly. So, during the adjusting entries po, pwede po nagte -credit po tayo ng mga expenses. So, during the adjusting entries po, pwede po nag -credit po tayo ng mga expenses po para sigurado tayo na tama ang

16:42 ating ginagawa. Yes po. Updated ang ating mga rare reports sa financial statement. Thank you, ma 'am, si Tutor Carol. Ayan. So, last time din po pinag -usapan niyo ni Tutor Carol about the following. So, it is the list of accounts used by an organization. Is it A, chart and maps? Ano sa tingin nyo is the answer for this particular question? List of the accounts used by an organization. Listahan lang po ito. Wag po kayong mataran po. Actually po, sineset up talaga to when you are

17:28 a startup business. Kailangan ma -anticipate mo na kung ano yung mga possible transactions. doon sa loob na business po ninyo. Yes, very good. So, tama po ang ating mga Joy. Christine Joy Tiag, Mariali, Yes, Kyla, Come, Christine Joy, Dea Justine, Okay, tama po. Julie Rose. All of them answered correctly po. It's chart of accounts. So, ano ba yung chart of accounts? So, yung tama po kanina, sinabi natin, it is the list, okay, of the accounts used by the organization. So, this is the chart account. The chart of account is arranged in financial statement

18:13 order. So, ano ba yung chart of accounts? So, tama po kanina, sinabi So, nauna po siyempre dyan, yung balance sheet, okay, yung liabilities, owners, equity, kasi syempre may mga ano po sila, classification pa po ng accounts, di ba, under that. So classified and pag sinabi natin ito, for sure alam ito ng mga grade 12 student, when they do financial statement or statement of financial position, importante po na tama yung ating pagkaka -present and classified, tama din po ang pagka -classify ng ating mga asset. So, classified and up. Ano ba yung mga classification ng asset natin? Iba yung ating current and non -current. So classified po and presented po, pag -pinesend natin sa chart of accounts po, parang... and presented po. Pag tinesend natin sa chart of accounts po, parang financial statement din po yan. So, classified and presented in decreasing order of liquidity. So, kapag nilagay po, gumawa po tayo ng chart

19:03 of account, dapat ito ay naka -decreasing order of liquidity. Yung pinaka -liquid yung po ang mahukuna. Obviously, ang pinaka -liquid account sa asset ay cash. Okay, next we have the liabilities. So, yung liabilities po ay generally classified and presented based on time of maturity or nearness to the date of payment. Kung ano po yung pinaka -current at pinaka -dapat bayaran within the year, yun po ang dapat nasa unang listahan ng inyong liability accounts. yung liabilities po ay Okay? So, example po niyan, accounts payable. Then, we have po yung ating income statement. Of course, lagi lang. naman po yung

19:49 revenue, less of course the expenses. So make sure also that when you do the chart of accounts, the accounts should be numbered in a flexible manner to permit indexing and cross -reference. Ginagamit po natin yung mga numbers po na yan for cross -referencing po. Lalo na kapag tayo ay nagre -record na po ng ating mga transaction. And it should be cross -referencing. And it should be chronologically arranged. Ayan. Then, let's talk about bookkeeping. Mamarami po ang nalilito kapag sinasabi po nila yung ano pagkakaiba ng bookkeeping sa accounting. Okay, di ba? Marami tayong nalilito dyan. Pero tandaan po natin na ang bookkeeping po ay it's just a process,

20:37 a part of doing an accounting. Okay? Kung ano yung mag -aaralan natin dito sa FADM 1 or Fundamentals Account at si Business and Management 1, this is what you call bookkeeping. Tama po ba ako, ma 'am? Di ba po? Yun. So, it is a mechanical task involving the process of collecting and recording, keeping of basic financial data for the completion of the financial statement. This is according to Palma of 2014. Okay. Ano ba yung bookkeeping? Ibig sabihin lang yung talaga, literal po yung pagkakaanong yan ah. Nagkikip tayo ng mga books. Ayan yun. So, meron din po tayong tinatawag na mga accounts.

21:24 are names we give to transaction involved in exchange of value. Okay? So, yun po yung mga tinatawag po natin cash. po natin yung cash, Yan po yung tinatawag natin accounts payable. Yan yun. they are all considered as an accounts. Binibigan natin ng pangalan for us to identify and determine what will happen or what is the transaction or the accounting events in the company. Yes, tutor, Carmi, and also kasi we cannot record sa journal yung like purchase one delivery truck, So, we give names to transactions for easy recording. so we give names to transactions Yes, ma 'am. Okay. Tama yun. So, let's have now the business transaction. O, ito yung bakit tayo nag -accounting kasi meron

22:13 tayong business transaction. Importante na alam ninyo kung ano yung nangyayari doon sa loob ng inyong business so that you can record it correctly. These are events which involve the exchange of value between two or more parties. Obviously, ito po yung nating ginagawa pag tayo nakikipag -negotiate sa ating mga kliyente, sa ating mga customers, sa ating mga suppliers. This is considered as a business transaction. So, there is of course a money involved in when we have a business transaction. Obviously, ito po yung... Next. Ito po, tandaan po natin na ang accounting po ay hindi po siya purely mathematics. Diba ma 'am? So maraming meat about accounting na kapag sinabi mo, uy, ano mo

23:03 yan? Masa nahirap yan eh, ganyan. So, tandaan po natin na ang accounting po ay combination po ng numeracy skills and of course, reading comprehension skills. Tama po. So, business transaction are analyzed from the point of view of the business. Kasi tandaan natin na ina -analyze natin mabuti inaanalyze natin mabuti yung naging transaction para ma -record natin at ma -record natin siya ng tama. Ito po, for example, yung mga keyword po na nakikita natin sa mga problems, siguraduhin po natin na alam natin kung paano siya ginamit at saan siya ginagamit. So, for example here, if the transaction is purchased or bought, it means that the business is buying. Tama naman po, diba? Purchase vehicles, purchase

23:53 buildings, yan. So, usually, ibig sabihin ang bumili siya. Meron din po mang sa mga ibang libro, diba, ang ginagamit nila is acquire. po, diba? Purchased, Okay. Opo, acquired. So, nag -a -acquire po sila. So, huwag tayo malilito. Pag alam na natin, pag sinakita natin purchase or bought or acquire, ibig sabihin bumili ang ating business. Or yung ating business mismo ang bumili. if the transaction is sold, anong ibig sabihin ng sold? It is the business that is selling. So, ibig sabihin na ikaw ay nagbebenta. Okay? Obviously, kapag ganoon, tandaan natin yung mga keywords, sold, purchase, ayan. At kapag naman sinabing, if the transaction is paid, so, ibig sabihin, nagbayad ang business. Okay?

24:41 Basahin mabuti, i -analyze mabuti para sigurado na tama ang gagawin natin. Basahin mabuti, i -analyze mabuti, para sigurado. Now, if the transaction is collected, it means that the business collection, parang nakakuha ng pera, nakapaningil ng pera ang business natin. Or kapag narinig naman natin, o nakita natin, nabasa natin sa mga problem, yung mga rendered service, ibig sabihin nun, ikaw ay nagbigay ng servisyo. Hindi nun, ikaw ay nagbigay ng servisyo. Okay? And when we are rendering service, of course, we are expecting a revenue from that. From the transactions. Okay? Next, the book of accounts. Ayan, ma 'am. Ito tayo. So, importante na alam din

25:27 natin ang mga books of accounts dahil tayo ay, kapag tayo ay nagbu -bookkeeping, ang tawag sa atin ay bookkeepers. So, ang book At meron po mga certification po yan ha, hindi po kayo basta -basta pwedeng tawagin bookkeeper unless you are also certified bookkeeper. Yan, kami ni Ma 'am Carol po ay mga certified bookkeeper po. So, the books of accounts are used to record events transpiring in the course of the business. So, yung book of accounts po, yan po yung kinikip ng mga bookkeeper. Yan po ay yung kung saan nila nire -record. Para po yung journal. Kaya mamaya may mga journal entries tayo. Kung kaanin natin, diba po nag -diary po tayo? It is something

26:16 like that po. It is just that when we talk about po yung mga book po, ito po ang nire -record po natin ay business transactions. Yan po ay kung saan nila nire -record. And of course, the book of accounts or the books that we have or we keep in the business are all registered in the Bureau of Internal Revenue. for compliance and monitoring. Kasi nga po, diyan nila makikita po talaga kung may nangyayari ba. At syempre, dun din sila nagbabase na mga taxes nila. Ayan, tinusugurado ko ngayon ma 'am na ako 'y nakikita po ang aking sarili kasi last time na laglag ang dola nyo. Ayan. So, eto yung mga itsura na. Natutuwa po ako dito sa tutor Carol kasi eto may itsura po na. Ano ni Tutor Carol kasi eto may yung itsura po ng mga book of accounts that we keep in our business. These are the two major types of books

27:06 of accounts that we have. of course the journal and the ledger. Then when we talk about journal, ayan, para po itong diary. A journal is referred to as a book of original entry. Transactions are recorded in chronological order. ibig sabihin, per date, by date, kung hindi ka pwede doon magsimula ng, Ibig sabihin, per date, by date, kung hindi ka pwede dumag... depende ha, kung wala ka naman transaction, nagkaroon ka ng transaction ng December 1, dapat December 1 doon. Pero kapag hindi ka wala kang transaction ng December 1 at magsimula ka ng transaction December 2, dapat ang nakaumpisa doon ay December 2. Tandahan po natin yan, it should be chronologically arranged. Journalizing is the process of recording transaction to the general ledger. general letter.

27:52 Journal. Journal pala. General journal. Journalizing ang tawag. Kapag nag -record ka na sa book of cold journal, tawag dito ay journalizing. Yeah. Pasensya na sa ledger. Na ano lang po. Ayan. Let's have the journal. Ito po itsura ha ng basic type of journal natin. And we have of course the date and of course yung account title. Importante lalagay natin ang explanation. May referencing pa po tayo. Minsan, yung referencing po, galing po yan dun po sa number sa book of accounts po natin. And of course, the debit and the credit. Ayan, medyo kinakabahan yung mga iban. Ay, debit -credit na. Pero, to add tutor, Carmi, yung while doing the journal entries, while journalizing,

28:42 wala pa pong laman ang reference. Malalagyan po yan ang reference ko. Malalagyan po yung ang reference column po natin kapag tayo ay nasa posting na. Yes, yes, yes. Tom. Okay. Let's have now here an example. Ayan, magdito, magtitignan na natin, malalaman na, makikita na rin po natin kung paano tayo nag -re -record ng transaction. So, we have here an example. On June 1, 2020, the owner invested 500 ,000 to start a business. para makapag -start ng business yung owner. So, kailan nangyari ito? This happened on June 1, 2020. So, ano yung mga accounts na naapektuhan? The dual entry effect or the dual effect of

29:31 the business transactions? Siyempre po, ay nagkaroon una ng investment. Pangalawa, mayroong Merong cash involved. So, sabi natin kapag may increase sa ating asset, dahil ang cash ay part ng asset, ito ay lagi natin nire -record at the debit side. Okay, cash. Yan ang nadagdag sa business. Yes, at syempre pag may nadagdag sa business, nagkakaroon ng equity or capital yung business. Okay, so, tagdaan po natin na ganito po ang itsura dapat pag nagre -record tayo. Naka -indent po palagi yung credit. Ayan. Tapos po yung lagi, opo, indented po siya.

30:18 Nagbawal po yung naka, ano ha, naka -parehan sila, naka -align. Opo, tama po yun. So, to record cash investment into the business, so ito po yun, we have 500 ,000 and 500 ,000. Pagka naka, ayan, ito po yung itsura Pagka naka, ito po yung itsura doong debit. nung debit, ano, ayun, sorry ng journal, general journal yung libro po talaga, nakakatawa po yung nakita ko to, sabi ko, ang ganda ayan, so parang ganyan lang din po yan, this is what we have done from our last, from the previous slides, and 500 ,000, tapos yung June 2 nagdanagdagan ni ma 'am na, ano, bumili daw yung business ng supplies for 1 ,000 pesos, so ibig sabihin bumili ng nadagdagan yung asset, pero may nabawas din sa kanyang asset, which is

31:06 yung cash niya. So, ano yung nadagdag? Supplies. Ano yung nabawas? Cash niya. So, ano ang gagawin natin? Para pag in -entry natin siya, June 2, supplies, debit, magkano? At tapos yung cash, credit, to record supplies both for cash, 1 ,000 pesos credit. Tsaka after one transaction, no, skip one line. And then yung pagsusulat ng amount, one figure per box. Yan. Tama yun. Alam nyo, ganun ka dapat ka -organize kapag ikaw ay bookkeeper. Kailangan ma -linis at maayos dahil po yan ang magiging basis ng inyong financial statement. So, sige po,

31:55 lagyan natin ito. Let's have your label the general journal. So, number one, ano po kayong sagot dito? Ano po yung, ano po, nakikita natin sa ating general journal? Okay, let's have number one. Yes. So, number one ay, tama po, makikita natin yung dates. And then, of course, we have the account titles and explanation. Tandaan po natin yan. The referencing or the reference number. Then, we have the debit and the credit. Okay. Sige, mag -shootor Carol. It's your third, special journal. Okay. Special journal.

32:43 naman to. So, aside from the general journal, we also have what we call special journal. Also have the what we call special journal. So, special journal. is used to record typical and similar types of transactions utilized by big companies to record their many transactions each day. Kasi the bigger the company, the more accounts they use. So yung mga malalaking kumpanya ay gumagawa talaga ng separate journal para sa kanilang mga transactions. So, there are four types of special journal. We have the first one, So there are four types of special journals. the sales journal. Next is cash receipt journal, purchase journal, and cash disbursement journals. Okay? Sige, pag -aralan natin yan, isa -isa. So, unahin natin ang sales journal.

33:34 So, this is used in journalizing all sales of merchandise business on account. O, ito. Tinuro na namin ito sa inyo. When you say on account or on credit, ibig sabihin merong party na hindi nagbayad pa. Okay? But in this case, sales journal, so ang ibig sabihin, ang hindi pa nagbabayad ay yung inyong client. Kung baga, nagbenta kayo ng product, pero hindi pa nagbabayad si client. Okay? So meron siyang, ang mga parts niya, there are five columns, date. Mga parts niya, there are five columns, dates, accounts, debited, invoice number, reference number, and of course, the last one is kung, ito kasi na pinaka yung

34:20 pinaka -transaction nyo eh. Pag nagkaroon kayo ng benta na hindi pa nagbabayad, so your entry will, journal entry will be debit, accounts receivable, and credit sales. Pero ang ilalagay nyo dito ay amount. Okay, amount. Okay, next please. Ayan, so tingnan natin. Ayan. So, signa natin kung paano gamitin ng isang sales journal. So, I have here two transactions. So, the first one, on June 10, your business, the business sold two units of laptop to Mary Santos on credit. Okay? Sabihin, walang bayad. 60 ,000 pesos. Invoice number 1, 2, 3, 4, and 5. So, kung paano natin siya i -record? natin siya i -re -record first yung date, June 10. First, yung date. Okay? So, since, kaninong

35:09 account ba yan? Kay Mary Santos yan. Accounts receivable yan. Kay Mary Santos. Invoice number, ilagay mo na. Copy na lang. Then, reference number, wala pa yan. Later pa yan. During the posting phase. Okay? And then, 60 ,000 yung kanyang amount. And then, the second transaction, June 11. so date nyan is June 11. sold one unit of Then, sold one unit of lap. laptop to Anna Fuentes on account. Okay? Remember, pag sales journal, ginagamit ito kapag meron kayong benta na wala pang bayad. Okay? That's the only time you will use your sales journal. Okay? Kapag ang sales nyo ay bayad, cash, ang gagamitin natin ay cash receipt journal. Okay? Sige. So, ayan na. So,

35:59 kaninong account ang na -debit natin because of the accounts receivable kay Anna Fuentes? Copy the invoice number, no reference yet, and the amount is 30 ,000 pesos. Okay? So, medyo mabilis pero clear naman siguro yan. Okay? Sige. The next one is the cash receipt journal. This journal is used in journalizing all cash. Ito yung sinasabi ko. All cash received. Okay? Including... cash sales. Ito yung sinasabi ko kanina. So, there are seven columns. Date, account, credited, reference. Okay. Okay. Debit cash kasi tumanggap ka ng cash. Okay. Credit accounts receivable kung ang collection mo ay

36:45 bayad. Okay. Bayad ng iyong client. Or credit sales kung meron kang cash sales and pwede rin namang credit. other accounts. Okay, so let us see the example. Next, please. Ayan, I have two examples again. On June 15, okay, collected $60 ,000 from Mary Santos. So kanina ha, si Mary Santos ay bumili pero hindi pa siya nagbayad. Okay, on June 15, ayan, nagbayad na siya. Copy the date, account credited kay Mary Santos. Okay. No reference yet. Okay. Debit cash kasi talaga naman tumanggap ka ng cash na 60 ,000. And then, okay. Ayan. Accounts. Credit na tayo. Accounts receivable.

37:31 Mababawasan ng accounts receivable ninyo. 60 ,000. And of course, the second transaction on June 15 again, sold one unit laptop to Carl Publico for cash. Ito naman ay cash sales. 30 ,000 pesos. Okay, cash sales tayo. So, debit cash. Okay. And then, okay, kay Carl, publico tayo nagbenta, cash sales. And then, of course, credit sales, which is 30 ,000 pesos. Okay, no reference yet. Mamaya magkakalaman yan. And then, we also have the purchase journal. Ito naman, Use in journalizing all purchases of the merchandise business on account. use in journalizing all purchases of the merchandise. Okay, namili ka. Ikaw, you, you as the business, bumili ka ng mga gagamitin mo.

38:22 Pwedeng inventory, pwedeng mga supplies, equipments na hindi ka pa nagbabayad. Wala pang bayad. Okay, so there are five columns, the date, account, credited, terms, pag binigyan ka ng terms, reference, and of course, ang journal entry natin kasi pag ganito is debit, merchandise, inventory, and credit accounts payable. and of course, ang journal entry natin kasi pag ganito. Okay. So, ito. Ayan. So, example natin. On June 5, you purchased 2 units laptop from HP Trading. Okay. P50 ,000 pesos. And your term is, you are given 30 days to pay. Okay. But if you pay within 15 days, you will be given 5 % discount.

39:10 Okay. So, yan yung term natin. Okay. So, kung ire -record natin siya, so copy the date, accounts credited, kay HP Trading, and then terms, okay, kopya lang, and then of course yung amount, 50 ,000 pesos. Okay. But if you pay within 15 days, you will be. And on the second transaction, June 10, okay, ang accounts credited natin ay kay Dell Enterprise. Okay. Given siya 30 days to pay. But pag nagbayad siya within 15 days, bibigyan siya ng 2 % discount. And of course, the amount is $73 ,500. Okay. Cash disbursement journal. So, this is used in journalizing all

40:01 cash payments. including cash purchase. Ito ay ginagamit ng business naman kapag naglalabas siya ng pera. Palabas lahat ng pera dito. Okay? Kaya, cash disbursement. Okay? So, there are seven columns, the date. Okay? Check number. Kasi usually talaga ang mga businesses ay cheque ang ginagamit na pambayad. Okay? And then, accounts debited, reference, debit accounts payable, and debit, or debit other accounts, and of course, credit cash. Okay? Isa lang ang credit natin dito, cash. Okay? So, next. Okay? Two examples again. So, on June 30, the business paid HP trading,

40:48 the amount of 60 ,000 pesos, check number, 1, 2, 3, 4, 5, 6. 456. Okay, so Okay? So, if we will record that. on June 30, copy the check number, amount debited 60 ,000 HP trading and then accounts debit accounts payable 50 ,000 and credit cash Okay, 50 ,000 So, ganun din sa susunod natin transaction, June 30 copy check number and then kanino ba tayo nagbayad? salaries expense. Okay? Binagbayad tayo ng salaries expense. And amount, lalagay natin siya sa other accounts and credit cash. Okay? 25 ,000 pesos.

41:38 Okay, next please. Okay, let me see. Let us see. Let us check your understanding. Where will you record? your payment for an item bought on credit? Okay, pag kayo ay bumili ng mga bagay at hindi pa kayo nagbayad agad, saan natin yan i -re -record? A. Sales Journal B. Cash Receipts Journal C. Purchase Journal and D. Cash Disbursement Journal Okay, number one, Julie Rose Rabago, number one, C. Okay,

42:25 Vince answered C. Okay, I sell. Okay, so answer is? Purchase journal. It should be purchased journal. Purchase journal. Should be purchase journal. Umusog na naman. siya. Opo. Okay. Pasensya na. It's purchase journal. Pero at least ma 'am naintindihan nila. Kamali yung answer natin. Pero sila tama. So, ibig sabihin naintindihan nila ma 'am. Ayan. Opo. Ganun na si ma 'am pag nagpapa -send -send tayo ng mga umusog yung animation natin. Okay. next. Sana tama tayo dito.

43:13 Natikilan din ako doon, ma 'am. Where will you record a transaction with the customer who promises to pay the item he bought after one week? Okay, where will you record a transaction with the customer who promised to pay the item he bought after one week? Okay. Sige. Vince answered A. Okay. Samantha, A. Aisle, A. Okay. I can't answer that answer. Ayan. Tama na tayo. Ayan. Tama na ang square. Very, very good. Natutuwa ako sa mga ano natin eh. Kasi alam nila yung sagot

44:03 na gamang. Very good, very good. next. Okay. Ayan, next po. Okay, where will you record the payment of a customer on account? Payment na to. Payment, payment. ni customer. Saan natin ito i -record. This is ano na, number three na. Okay. Payment ni customer. Daya, Justine answered A. Bens, panganiban, answered B. Okay. Samantha, Marinelle, B.

44:54 Okay. Karen, maybe. Okay ma 'am, sige, let's reveal the answer. It's letter B, cash visits journal. Okay na, kaman tayo. Next ma 'am. Okay, let us study this time the ledger. Okay, ledger na, posting na tayo posting. Ledger is the grouping of all accounts of a company showing its respective outstanding balances. following its respective outstanding balances. it is also called the book of final entry of accounting transactions. So, the transfer of balances from the journal to the ledger is known as the process of posting. So, posting na lang tayo.

45:39 Okay, so, ang medyo complicated is yung journal, journal entries, no? Kasi doon kailangan mo mag -analyze. Dito sa ledger, pwede ka na lang mag -kopyahin mo na lang. But be very careful in copying. Okay, next please. Okay, so this is the first ledger that we will study. It is called General Ledger. So General Ledger is a grouping of all accounts, assets, liabilities, and equity with their balances. So there are six columns. Okay, the date, explanation, preference. debit, credit, and of course, the last column is the balance. Okay, next please. Ayan, so

46:28 ito na. So from the general journal, itatransfer na natin siya sa general ledger. Ang ledger ay per account. Okay, so dito sa general journal natin, we use two accounts, cash and owner's equity. So, magkaiba silang ledger. So, unahin natin ang cash ledger. So, as you can see, yung cash ledger, meron siya diyang pangalan sa taas, cash, may account name, at meron siyang account number, 1 -001. Okay, importante yan sa ledger. Okay? So, anong gagawin natin? So, from the general ledger, you just copy the date. So, June 1, copy the date. Ayan. Sulat mo lang dyan.

47:15 Next. Okay. Ano ba? O, sa explanation column, anong ilalagay natin dyan? Okay. So, ayan yung cash. Okay. So, ayan lang. Kopyahin mo na. Drop na yung to record na salita. Okay. Lagay nyo na lang yung owner's investment. And then, okay. What's next? So, June 1, copy the date. Next. Next natin ay, ayan. So, sa reference. So, saan mo kinukuha yan? ay, ayun. So, sa reference, so, saan mo kinukuha yung sinusulat mo sa ledger? Galing siya sa general journal, page 1. GJ1. Okay. And then, ang amount ay debit 500. So, debit, lagay mo siya sa debit side. Ewan, hindi naman siya walang credit eh. So, ilagay mo, i -forward mo na lang yung balance, okay, sa

48:01 balance column. And of course, yung yun yung time that's the only time na malalagyan ng reference okay yung general journal okay 1 -0 so it's an indication that this account has already been posted to the ledger yun ang sign na nai -record mo na yan sa ledger okay next yan na Yung pangalawa naman, owner's capital. yung pangalawa naman owner's capital so ang ledger natin is owner's capital with account number 3 -001. is over Okay, so copy the date. And then explanation, owner's investment, reference, GJ1. Okay, and then saan nakalagay ba yung 500

48:51 ,000 sa credit? So, ilagay mo siya sa credit side ng ledger. And then forward na lang sa balance. Okay, side, 500 ,000. Then, of course, ilagay nyo na yung reference sa general journal. so now, we will study. Tutor Carmi, would you like to... Okay, when we talk about subsidiary ledger, we are referring to the ledger that provides more detailed individual balances of account such as accounts receivable and accounts payable. So it gives more detail about the account. Kasi kanina

49:41 diba nakita ninyo per account na siya, nakalagay siya sa pinatawag po nating cash, nakalagay siya sa accounts payable ledger. so used to track for individual accounts of the company's customers and creditors. So use the track per individual account. Kasi ito may pangalan talaga, kumbaga meron tayong particular person na titignan, takitignan nga dyan yung ledger account ni Vince Panganibat. So that is considered as the subsidiary ledger. So naka, kaninong, sige ma 'am. Lalo na, Tutor Carmi, kapag regular customer mo yan, ano, na palaging umu -order. Lalo na tutor, Carmi, kapag regular customer mo yan. So, magkakaroon na siya ng sarili niyang ledger. Okay, accounts receivables of GD. Ang kagandahan kasi

50:31 ngayon, Tutor Carol, naka -ano na tayo, database na talaga lahat. So, pero itong tinuturo namin sa inyo is kailangan matutunan ninyo kasi may pagkakataon baano kung hindi nagkaroon ng maintenance, okay, yung inyong mga systems sa inyong loob ng company. So at least alam mo pa rin kung paano mo siya i -re -record. At the same time, if you are a start -up company, ayan. So medyo mag -gaganito muna tayo. Kapag medyo mayaman na tayo, pwede na tayo mag -acquire of course ng mga system, accounting system. So, at isa. So accounts receivable subsidiary ledger, ito po ay ginagamit po natin of course to track the individual accounts receivable balances of the company. Okay, the individual accounts receivable balances of the companies.

51:17 Kung nakikita po nyo dito, nakalagay po dito yung customer's name, tapos po siyempre yung kanyang date, yung reference po, yung debit, credit, and of course yung kanyang balance. Ibig sabihin po, ito po yung mga tinitignan po natin kung gusto po natin makakuha ng collection from this particular customer. So, yan po ma 'am. Okay, and we also have the accounts receivable subsidiary ledger na ito po ang The accounts receivable subsidiary ledger, ito po ang pinagkukuhaan, ang nireference po rin ito natin sa ating sales journal. So, from our sales journal, syempre po, pukopyanin lang naman po natin yan kasi subsidiary ledger, specific po siya. Okay, so anong ba ang gagawin natin dito? Paano natin siya i -re -record? Of

52:02 course, for example, po ito sa sales journal, nakalagay po dyan yung si June, 10 po nangyari yung transactions. okay? That is from the account of Mary Santos, no? And of course, ito ay galing sa sales journal 1, okay? And then, magkano yung kanyang utang, okay, yung 60 ,000? At magkano pa yung balance niya? Ibig sabihin, hindi pa siya nakakapagbayad, kaya po, nakaganyan pa siya. So, yan po. Then, i -reference po natin sa sales journal natin yung subsidiary ledger ni Mary Santos ilalagay. Yung subsidiary ledger ni Mary Santos Ilalagay po natin doon sa ating sales journal Ayan, next po Cash receipt E paano naman ma 'am kung nakakuha na po ng pera? Yun po ang tanong dito, no? So, accounts

52:49 receivable subsidiary ledger naman po Natin para dito po ay Ayan So, June 15 po kay Carl Public po po yan Mary Santos pa rin po Ayan, nakakuha na pa, nakasingil na. Ayan ang kwento Alam niyo po, ang accounting ay puro kwento po. Ayan. So, cash receipt journal. Ayan. Para po malaman po natin na nagbayad na po pala si Mary Santos. So, credit to 60 ,000, ibig sabihin po, wala na po siyang utang. Kanina po, pinakita natin, may utang pa siya. Ayan po, yung accounts receivable subsidiary ledger na, wala na po siyang utang. At syempre po ang reference po nito ay 1 -003 Okay?

53:34 So accounts payable Subsidiary ledger naman ito Kapag ikaw naman ay It is used in tracking individual Accounts payable Balances of the company's credit Okay? So katulad po nito May date din po ito May date, may reference May debit, credit, and balances po With credit and balances po, yan. Ayan So ibig sabihin yung may mga, ito ay yung mga may utang, okay? Yung mga pagkakautang natin, tayo ang may utang, ha? Kanina naniningil tayo ng utang, ngayon po tayo naman ang may utang. So, paano po natin ginagawa? Siyempre po, ang reference po natin dito for the subsidiary ledger of the accounts payable is the purchase journal. Okay, for example

54:23 po nyan, ito kay yung accounts payable natin kay FPTrading Okay? For example po, yan. Ito kay, yung accounts pay... Okay, ilan nangyari yung transaction? June 5, ang reference po natin ay yung ating purchase journal 1 Okay, debit magkano? Ayan, sa credit po side po yan kasi may utang pa po tayo, ibig sabihin, wala pa pong nababayaran So yan ang balance natin Next, we have yung cash disbursement po Paano naman po pag nagbayad na ng utang? Paano naman po pagka magkano? Okay? So, we have yung June 30, reference, okay, cash disbursement journal. Okay, ibig sabihin po nabawasan na ang ating utang dahil nakapagbayad na po tayo. Kaya po wala na pong lalabas

55:11 doon sa balance po nila. Ito yung usually tinitignan natin pag i -check natin na, oh, nagbayad na ba si FD? I -check natin na, oh, nagbayad na ba si Ekti? Ayan. So, pag na -post na po natin dyan, mas madali po natin mag -distinguish kung wala na po siyang po. O yan. Ayan. Sige ito. This will be the last. Okay, what is the label, the general ledger properly? Okay, sige po. Number one, ano po yan? Nakalagay dyan. We have, of course, the date. Next. We have of course the explanation. Importante po na ilagay natin Kaya po punong -punong po ng Explanation, dapat magaling ka sa communication Ayan Then number 3

55:56 Of course there should be A reference po, say po yan po Para sa cross -referencing And then the debit And the credit And the balance Ayan, so ito na po, we're done Yan na, Tutor Carol, Ayan na tutor, Carol, na ituloy na natin naitulay na natin. Tawag tayong references. Kasi talagang we made sure na what we're teaching you is correct. Yes. Maraming maraming salamat mga anak sa pagtulo at sa pagsubaybay sa amin ni Tutor Carol. Until next week, happy lunch and God bless you all. Maraming po kayo natutunan. Bye -bye and God bless ko.