Republic of the Philippines

Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

LEARNING ACTIVITY SHEET IN FUNDAMENTALS OF ACCOUNTANCY,

BUSINESS AND MANGEMENT 2
Quarter 2 Week 1: BASIC DOCUMENTS AND TRANSACTIONS RELATED TO BANK
DEPOSITS

Objective: After going through this module, you are expected to:
1. Identify the difference between Savings from a Checking Account
2. Prepare bank deposit and withdrawal slips
3. Prepare checks
4. Identify and understand the contents of a bank statement.
Common Types of Bank Accounts
There are two common types of bank accounts maintained by a business. Let’s get to know some of
their characteristics.

Different Types of Investments and their Features:

SAVINGS CURRENT
•Purpose of opening a bank To save money Facilitate financial
account transactions
•Ideal use Employees/Personal Use Employer/Business
Interest rate offered by the bank Low None/lower than savings if
any
•Daily Maintaining Balance Low High
required by the bank
•Overdraft (bank service that Not allowed Allowed
allows an account holder to
withdraw a little more beyond
his/her balance
•Evidence of transactions Passbook, deposit and Deposit slips, Checks and
withdrawal slips Bank Statement
•Documents Required for ID, Proof of Address, Picture, ID, Proof of Address, Picture,
opening an account Reference of Existing account Proof of Business
holder
The services intended for savings account provide incentive for account holders to save and
earn minimal interest for keeping a minimum balance, while current account allows the convenience
of having multiple transactions, withdrawals and payments through checks suitable for businesses.
Because of its fast cash turnover, current accounts rarely earn interest except for hybrid
(combination of savings and current) accounts for premium deposits.
Although savings accounts are linked with a passbook (record of deposit, withdrawal and
earnings), a popularly used savings account nowadays is a Debit card or an ATM (Automated Teller
Machine) account wherein withdrawals can be made through designated machines. This also allow
the account holder to use the card to make cashless payments in various establishments.
Another type of bank account is the Time Deposit/ Certificate of Deposit. It is type of savings
account with a fixed-term and can only be withdrawn after the lapse of the agreed period and upon
giving notice to the bank.
• Fixed higher interest than the savings account
• It has a holding period and a maturity date.
• There is a penalty for premature withdrawals

Note, that the owner of a business can avail of both savings and current account in the same bank or in different
banks. Each account is covered by the Philippine Deposit Insurance Corporation for up to P500,000.

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]
 Republic of the Philippines
Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

Deposit and Withdrawal Slips

A. Deposit Slip - is used by the depositor to put money in the bank. Deposit slips are uniquely
designed for the specific need of each bank. However, the essential information required to
make a deposit are the same.

→For Cash Deposits -The breakdown of cash is listed

→For Check Deposits -The issuing bank, address of the issuing bank, date of the check and
the amount of the check are listed.

B. Withdrawal Slip - is a written order to the bank, used by account holders to get money from
his/her bank account. The information present in the withdrawal slip should include:

There may be occasions when the depositor cannot personally withdraw the funds, in this
case, he/she may authorize a representative by indicating the name of the representative in
the space provided where the representative must sign, and present his/her identification
card.

Identifying and Preparing Bank Checks

Steps in preparing a Check
1. Write the date.
2. Write the complete name of the payee.
→If the check is tended to be encashed by a person, write the person’s full name.
→If it is intended to be encashed by any person, write “cash” instead of a name.

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]
 Republic of the Philippines
Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

→If the recipient is an organization, write the complete name of the company.
3. Write the exact amount in figure right after the peso sign.
4. Write the amount in words followed by the word only, so that nothing can be written after.
Example:  Seventy thousand  Seventy thousand only –
5. Sign the check on the line at the bottom right corner.

Notes in handling checks.

A. Stale Check A check becomes invalid after 180days or 6 months from the date it was
issued. Ex. A check that is issued in January 1, 2020 may only be valid for transaction until
June of the same year.
B. Post-dated check A check that is dated at a future date. Ex. A check released in January 1,
2020, was dated as March 30, 2020. This check may be transacted only as soon as March 30,
2020 arrives.
C. Crossed check DRAWER PAYEE DRAWEE 5 1 2 3 4 8 This means that the check is
restricted for payees account and will only be accepted for deposit, thus, it cannot be
encashed over the counter. This is done by writing two parallel lines on the upper left corner

of the check
D. Bouncing check A check that cannot be honored by the bank because the drawer has no
sufficient funds to cover the amount of the check. Ex. If you have P10,000 in your bank
account, you can only issue checks below that amount.
→When writing a check carefully write the details and avoid erasures.
→When receiving checks make sure that the checks issued to you are free form errors.

Bank Statement
The transactions involving savings account can easily be monitored as they are
reflected in the account holder’s passbook every time a transaction is made. Often, current
account holders have no passbooks and instead receive a detailed transaction history from
the bank released every month in the form of a Bank Statement that summarizes all the
activities made for the past thirty business days.
A bank statement contains relevant information including:
A. Customer’s information – identifies the name and location of the account holder. It is
important to make sure that this information is correctly stated without misspellings.
B. Bank’s information - the name, phone number and address of the bank.
C. Account information - this help identify the account number and the type of account that
is held by the account holder.

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]
 Republic of the Philippines
Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

D. Transactions: deposits made during the statement period, and withdrawals through
cheques, bill payments, ATM withdrawals, bank fees and debit purchases.
The beginning balance is carried over from the previous month’s ending balance. This
is added to the transactions that transpired within the current month, including deposits,
withdrawals, interest earned and other charges, to show how they have affected the account.

Understanding a Bank Statement

1. The Debit column represents all charges or deduction made by the bank to your account.
Examples of Debit transaction (DEBIT MEMO)
• Bank service charge - monthly fee charged by the bank for its services (Ex. cost of
printing checks writing funds to other locations and other fees)
• NSF - (Not Sufficient Fund) – Banks also use a debit memorandum when a deposited
check from a customer “bounces” because of insufficient funds. Bank refer to this as DAIF
(Drawn Against Insufficient Fund) or DAUD (Drawn Against Uncleared Deposits)
2. The Credit column represents the deposits or additions to your account that was made by
the bank. Examples of Credit transactions (CREDIT MEMO)
• Collection of cash proceeds from notes receivables.
• Interest income earned by the deposit.
3. The Balance column is the running balance after considering the effect of the transaction to
your account.
4. Transactions other than the deposits, withdraws/checks drawn come with codes beside
them. Transaction codes are normally a bank code for the transactions.
5. The ending balance of Tala Dry Goods is P185,950 after all transactions have been entered.
This balance will now be the beginning balance of the bank statement for the month of August

WRITTEN TASK:
TASK 1.
Types of Bank Accounts. Identify the bank account described by the statements.
a. Savings Account c. Time Deposit Account
b. Current Account d. ATM Account
_____1. An account where deposits can best be withdrawn at its maturity date.
_____ 2. It has a 24-hour banking facility for withdrawing money.
_____ 3. It offers higher interest upon maturity date.
_____ 4. It carries the convenience of withdrawing by checks.
_____ 5. Withdrawals and deposits are evidenced by a passbook.

TASK 2. Writing a Withdrawal Slip.

On January 1, 2017, Puppi’s Treats opened a current account with a CA# 0715-0010-36 at SunOne
Bank. In May 15, 2017 the owner of Puppi’s needed to withdraw P57,800 to pay Sunrise Miller in
cash for the flour delivered. Unfortunately, the owner cannot go to the bank and sent Leah Son (the
secretary) instead. Help fill out Puppi’s withdrawal slip.

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]
 Republic of the Philippines
Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

TASK 3. Reading Checks and Bank Statement. Read and analyze, then answer the questions that
comes after

1. Who does this check belong to? ________________________________________

2. To whom was the check written for? ___________________________________
3. What is the check number? ____________________________________________
4. How much is the check worth? _________________________________________
5. Can this check be encashed over the counter? Why? ____________________

1. What type of account does Tala have? _____________________________________

2. What was the balance in the account on June 30, 2015? ___________________
3. How much is the total amount deposited to the account in July? ___________
4. On what date was P 50 withdrawn from the account? ______________________
5. What is the reason for the decrease of P 7,000 in Tala’s balance? ___________

PERPORMANCE TASKS:
Preparing Bank Forms. Records show some transactions made by Produktong Local Merchandising for the month of
January 2019.
DATE TRANSACTION

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]
 Republic of the Philippines
Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

Jan.1 Opened an account with SunOne Bank and was given a Current Account # 0848-0314-09
Jan.1 Made an initial deposit of P29,500
Jan.15 Issued a check to Pampanga Telephone Services to pay for telephone bills amounting to
P13,856.22.
Jan.21 Deposited cash collected from customers worth P115,000, for lanterns sold last month.
Required: →A. Help the company prepare needed bank documents to facilitate transactions.

→B. Compute for Produkto Local’s ending bank balance, if the bank added P15.75 interest and
subtracted P50.00 service charge in the company’s account.

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]
 Republic of the Philippines
Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]
 Republic of the Philippines
Department of Education
REGION IV-A CALABARZON
SCHOOLS DIVISION OFFICE OF BATANGAS PROVINCE
DR. JUAN A. PASTOR MEMORIAL NATIONAL HIGH SCHOOL
TALAIBON, IBAAN, BATANGAS

Address: Talaibon, Ibaan, Batangas

Telephone No.: (043) 311-2651
Email Ad: [email protected]