11 SENIOR HIGH SCHOOL

FABM 2
Quarter 3 – Module 8
Checks and Contents of a Bank
Statement
FABM2 – Grade 11
Alternative Delivery Mode
Quarter 3 – Module 8: Checks and Contents of a Bank Statement
First Edition, 2020

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materials from their respective copyright owners. The publisher and authors do not
represent nor claim ownership over them.

Published by the Department of Education

Secretary: Leonor Magtolis Briones
Undersecretary: Diosdado M. San Antonio

Development Team of the Module

Writer: Bb. Boy Jonnel C. Diaz
Editor: Maria Soledad M. Dayupay
Reviewer: Salvador G. Aguilar Jr
Layout Artist: Bb. Boy Jonnel C. Diaz
Management Team: Senen Priscillo P. Paulin, CESO V Rosela R. Abiera
Fay C. Luarez, TM, EdD, PhD Maricel S. Rasid
Nilita L. Ragay, EdD Elmar L. Cabrera
Elisa L. Baguio, EdD

Printed in the Philippines by ________________________

Department of Education –Region VII Schools Division of Negros Oriental

Office Address: Kagawasan, Ave., Daro, Dumaguete City, Negros Oriental

Tele #: (035) 225 2376 / 541 1117
E-mail Address: negros.oriental@deped.gov.ph
 11

FABM 2
Quarter 3 – Module 8
Checks and Contents of a Bank
Statement
Introductory Message
For the facilitator:
Welcome to the Grade 11-Fundamentals of Accountancy, Business and
Management 2 Alternative Delivery Mode (ADM) Module on Checks and
Contents of a Bank Statement!
This module was collaboratively designed, developed and reviewed by
educators both from public and private institutions to assist you, the teacher
or facilitator in helping the learners meet the standards set by the K to 12
Curriculum while overcoming their personal, social, and economic
constraints in schooling.
This learning resource hopes to engage the learners into guided and
independent learning activities at their own pace and time. Furthermore, this
also aims to help learners acquire the needed 21st century skills while taking
into consideration their needs and circumstances.
In addition to the material in the main text, you will also see this box in the
body of the module:

Notes to the Teacher

This contains helpful tips or strategies that
will help you in guiding the learners.

As a facilitator, you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing
them to manage their own learning. Furthermore, you are expected to
encourage and assist the learners as they do the tasks included in the module.

2
For the learner:
Welcome to the Grade 11-Fundamentals of Accountancy, Business and
Management 2 Alternative Delivery Mode (ADM) Module on Checks and
Contents of a Bank Statement!
This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own pace and time.
You will be enabled to process the contents of the learning resource while
being an active learner.
This module has the following parts and corresponding icons:
This will give you an idea of the skills or
What I Need to Know competencies you are expected to learn in the
module.

This part includes an activity that aims to

check what you already know about the
What I Know
lesson to take. If you get all the answers
correct (100%), you may decide to skip this
module.

This is a brief drill or review to help you link

What’s In the current lesson with the previous one.

In this portion, the new lesson will be

What’s New introduced to you in various ways; a story, a
song, a poem, a problem opener, an activity
or a situation.

This section provides a brief discussion of the

What is It lesson. This aims to help you discover and
understand new concepts and skills.

This comprises activities for independent

practice to solidify your understanding and
What’s More
skills of the topic. You may check the
answers to the exercises using the Answer
Key at the end of the module.

This includes questions or blank

What I Have Learned
sentence/paragraph to be filled in to process
what you learned from the lesson.

This section provides an activity which will

What I Can Do help you transfer your new knowledge or skill
into real life situations or concerns.

3
 This is a task which aims to evaluate your
Assessment level of mastery in achieving the learning
competency.

In this portion, another activity will be given

Additional Activities to you to enrich your knowledge or skill of the
lesson learned.

Answer Key This contains answers to all activities in the

module.

At the end of this module you will also find:

References This is a list of all sources used in

developing this module.

The following are some reminders in using this module:

1. Use the module with care. Do not put unnecessary mark/s on any part of the
module. Use a separate sheet of paper in answering the exercises.
2. Don’t forget to answer What I Know before moving on to the other activities
included in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through with it.
If you encounter any difficulty in answering the tasks in this module, do
not hesitate to consult your teacher or facilitator. Always bear in mind that
you are not alone.
We hope that through this material, you will experience meaningful
learning and gain deep understanding of the relevant competencies. You
can do it!

4
 I

This module presents a discussion about how to prepare a check and a bank statement.
It aims to introduce to the learners the basic concepts and ideas in writing a check and
understanding the content of a bank statement.

The learning activities and tasks in this module are provided in order to test their
understanding and evaluate independent learning.

Hence, this module will be useful as reference guide for the ABM students as they will
continue to be equipped with the knowledge and skills needed for their business career.

LEARNING COMPETENCIES:

▪ Identify and prepare checks (ABM_FABM12-IIc-8)

▪ Identify and understand the contents of a bank statement
(ABM_FABM12-IIc-9)

OBJECTIVES:

P K : Define checks and identify the contents of a bank statement;

S : Prepare sample check and a bank statement;

A : Demonstrate appreciation on preparing checks and reviewing the

contents of a bank statement which can be useful in the real life
situations.

5
 I

Pre-Assessment:

Direction: Read and analyze statements below. Determine whether the statement is TRUE OR
FALSE. Write TRUE if the statement is correct and write FALSE if otherwise. Write your
answer on your activity notebook.

________1. Bank statements contain information from the thirty business days.
________2. It is not important to include the date when writing a check.
________3. If the bank makes a mistake, you should inform your bank immediately, no
matter how tempting it is not to do so.
________4. Bank check is safer for payment.
________5. A bank statement only shows money going out of your account.
________6. Figures under the credit column of a bank statement represents all charges or
deductions made by the bank to your account.
________7. When you receive a bank statement, it is very important that you check the
entries to be sure that there are no mistakes or missing items.
________8. In the Philippines, issuing a check with insufficient bank balance is a criminal
offense under Batas Pambansa Blg. (BP) 22 or the Banking Checks Law.
________9. It is okay to use a pencil or marker when writing a check.
________10. Bank statements can be used to judge an individual or a company’s worth or
standing as well as for purposes of business.
________11. A bank statement is a list from the bank for services rendered to the client.
________12. A check is an instrument issued by a person in payment for goods and services.
________13. Don’t sign a check until after you have filled in the name of the payee and the
amount.
________14. In the Philippines, a check becomes stale if it exceeds five (5) months from the
date of the check.
________15. Bank statements are generally prepared by the bank for the account holder at
the beginning of each month.

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 Lesson
1 Preparing Checks

Checks can be used to make bill payments, as gifts, or to transfer sums

between two people or entities. They are generally seen as more secure way of
transferring money than cash, especially when there are large sums involved.

’s In

Task 1

Direction: Discuss briefly your insight about the picture below. Write your
explanation on your activity notebook.
Guide questions:
• Why do companies issue checks?
• Why is a bank check a commonly used form of payment?

Source: www.google.com/safety

Source: Crushpixel.com

Source: Dreamstime.com Source: google.com/convenience

Source: paissabazaar.com

7
 ’s New

Task 2
Direction: Below is a sample check. Supply the missing items to complete the sample check.
Choose your answers from the choices inside the box. Write only the LETTERS.

A. D. March 26, 2014

B. 1,000.15 E. Toto Dela Cruz

C. One Thousand and 15/100 pesos only.

1.

2. 3.

4.

5.

Source: www.philippineproperties101.com.ph

8
 is It

Countless consumers and businesses continue to see value in using checks

rather than other payment options. As the amount paid in transaction increases, so
does the desire for the level of financial control and management that checks
provide. The security, peace of mind and evidence of payment offered by checks
continues to make them preferred way to pay in many types of transactions.
Compared to bills and coins, it is very easy to prepare, safe and convenient in
making payments. Bank procedures give protection to checks. Stolen or loss bills
are difficult, if not impossible, to recover. On the other hand, banking procedures
ensures that the check payments are made only to the designated payees.
Moreover, the check itself is an evidence of payment. Once the bank had paid the
check, it is normally returned to the account holder for record keeping.

Check

▪ A document that orders a bank to pay a specific amount of money

from a person’s account to the person in whose name the check has
been issued.
▪ Type of bill of exchange and was developed as a way to make
payments without the need to carry large amounts of money.
▪ It should be covered by sufficient balance in the issuer’s checking
account.

*In the Philippines, issuing a check with insufficient bank

balance is a criminal offense under Batas Pambansa Blg. (BP) 22 or
the Bouncing Checks Law.

(Ong & Gomendoza, 2017)

The Parties Involved in The Issuance of a Check:

▪ Drawer - the person or entity who make the check

▪ Payee - the recipient of the money
▪ Drawee - the bank or other financial institution where
the check can be presented for payment

Types of Check:

1. Cross Check
▪ It is marked to specify an instruction about the way it is to be
redeemed.
▪ Usually done by writing two parallel lines on the upper left
portion of the check.
▪ Cannot be encashed over the counter by the payee.
▪ It should be deposited to the payees account.

9
 2. Stale Check
▪ A check which a bank will not accept and exchange for money
or payment because it was written more than a certain number
of months ago.
▪ In the Philippines, a check becomes stale if it exceeds six (6)
months from the date of the check.

3. Post – Dated Check

• If a check bears a date which is yet to come (future date)
• Cannot be honoured earlier than the date of the check

How to Write a Check:

1. Current date: On the line on the upper right beside the word date,
write the date of the check. In most cases, you’ll use today’s date,
which helps you and the recipient keep accurate records.

2. Payee: Write the complete name of the payee or recipient on the line
beside the words “Pay to the Order of”. When the check is intended
to be encashed by just any person, the word “cash” can be written
instead of the name of a person. If the payee or recipient is an
organization or company, write the complete name of the
organization or company.

3. Amount in numeric form: Write the exact amount of the check

beside the peso sign.

4. Amount in words: Write the exact amount of the check in words on

the line beside the word Pesos. Write the word “only” after the
amount so that nothing can be written after the amount.

Example: Twenty Thousand

Instead of writing Twenty Thousand, write Twenty Thousand only so

that nothing can be written after the words Twenty Thousand.

5. Signature: Sign the check legibly on the line at the bottom- right
corner. Use the same name and signature on file at your bank. This
step is essential – a check will not be valid without a signature.

10
 Figure 1. Sample check
DATE
DRAWER

AMOUNT IN
PAYEE Source: www.philippineproperties101.com.ph
NUMERIC
FORM

AMOUNT IN
WORDS SIGNATURE
DRAWEE

’s More

Task 3
Direction: Below is a blank check. Write the check based on the following
assumptions:

a. You are Joey Lao, the customer of ABM Furniture.

b. The date today is January 20, 2021.
c. You are purchasing a table from ABM Furniture in the amount of
₱ 25,000.
d. You are going to issue a check dated today in payment for the table you just
purchased.

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 Source: www.philippineproperties101.com.ph

Explore!

▪ How did you find the activity?

▪ Was it easy/hard to prepare a check?

▪ Do you think you are ready to make payments using a check in the
future?

I Have Learned

Task 4

Direction: In your activity notebook, complete the following:

1. As an ABM student, I have learned that

______________________________________________________________.

2. As an ABM student, I have realized that

______________________________________________________________.

3. As an ABM student, I will apply what I have learned

______________________________________________________________.

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 I Can Do

Task 5

Direction: Do what is asked. Write your answer on your notebook.

1. How do you write a check?

___________________________________________________________
___________________________________________________________

2. What are the responsibilities involved when using checks?

___________________________________________________________
___________________________________________________________

3. Explain briefly the importance of using a check instead of cash.

___________________________________________________________
___________________________________________________________

ESSAY RUBRIC
Level of Achievement General Approach Comprehension
Exemplary •Addresses the question. •Demonstrates an accurate and complete
(15 pts quizzes) •States a relevant, justifiable understanding of the question.
answer. •Backs conclusions with data and
•Presents arguments in a logical warrants.
order. •Uses 2 or more ideas, examples and/or
arguments that support the answer.
Adequate •Does not address the question •Demonstrates accurate but only adequate
(10 pts quizzes) explicitly, although does so understanding of question because does
tangentially. not back conclusions with warrants and
•States a relevant and justifiable data.
answer. •Uses only one idea to support the answer.
•Presents arguments in a logical •Less thorough than above.
order.
Needs Improvement •Does not address the question. •Does not demonstrate accurate
(5 pts quizzes) •States no relevant answers. understanding of the question.
•Indicates misconceptions. •Does not provide evidence to support
•Is not clearly or logically their answer to the question.
organized.
No answer (0 pts)

13
 14
What’s More
Task 3:
1. January 20, 2021
2. ABM Furniture
3. 25,000.00
4. Twenty Five Thousand pesos only
5. (Joey Lao’s Signature)
What I Can Do Explore!
Task 5: Answers may vary
1. Answers may vary
2. Answers may vary What I Have Learned
3. Answers may vary Task 4:
Answers may vary
Lesson 1
What’s In
Task 1:
Answers may vary
What’s New
Task 2
1. D
2. E.
3. B.
4. C.
5. A.
 Lesson Understanding the Contents of a
2 Bank Statement

Being able to understand what is included in your bank statement is really an important
skill as it helps you to keep track of and manage your money. It allows you to keep track of
your finances and plan for future expenditures.
An account holder should verify their bank account on a regular basis either daily,
weekly or monthly to ensure their accounts match the bank’s records. This helps reduce
overdraft fees, errors, and fraud.

’s In

Task 1

Direction: Picture Analysis. Accomplish this task in your activity notebook.

Source: www.thebalance.com/bank-reconciliation

Explore!

1. What does the picture suggest?

_____________________________________________________________

2. Do you think it is necessary to understand the contents of a bank statement? Why? Why
not?
_____________________________________________________________

3. Why do banks send out bank statements to their customers/account holders?

_____________________________________________________________

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 ’s New

Task 2

Direction: Arrange the jumbled letters to form the correct word/s. Write your answer on your
activity notebook.

1.
It represents all charges or deduction made by the bank to your account.

2.
It indicates the details of the check paid by the bank.

3.
Represents the deposits or additions to your account that was made by the bank.

4.
This is normally a bank code for the transactions.

5.
Indicates the date the transaction was made.

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 is It

At the end of every month, the bank furnishes a statement to the depositor showing the
movement of the account. It contains all the withdrawals, deposits and balance of your account
after every transaction. It may also indicate bank charges that were deducted by the bank
automatically. Also, interest earned by the bank is likewise reflected.
Bank statements provide a clear, ongoing picture of your financial activity. By
reviewing your statements, you can monitor your spending and savings while watching for any
errors. Most importantly, being mindful of your finances will help you reach your goals and
achieve financial well-being.

Bank Statement

▪ Detailed transaction history of the account over the reporting period.

▪ A report prepared by the bank for those accounts that do not have passbooks.
▪ Usually sent by the bank through courier services together with the debit and
credit memos and the cancelled checks.
▪ Account holders can access to and print their transaction history 24/7 and on
real time basis.

Bank statement entries:

Date column
- indicates the date the transaction was made
Check number
- indicates the details of the check paid by the bank
Transaction code
- normally a bank code for the transactions
Debit column
- represents all charges or deduction made by the bank to your
account
Credit column
- represents the deposits or additions to your account that was made by the bank
Balance column
- is the running balance after considering the effect of the transaction to your account.

17
Samples of Debit transaction

• 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 - (Non Sufficient Fund) – Banks also use a debit memorandum when a deposited
check from a customer “bounces” because of insufficient funds. Nowadays bank refer to this
as DAIF (Drawn Against Insufficient Fund) or DAUD (Drawn Against Uncleared Deposits)

Samples of Credit transactions

• Collection of cash proceeds from notes receivables.

• Interest income earned by the deposit.

As part of control, the bank statement received from the bank is compared with the
accounting records of the business. This process is called bank reconciliation. Bank
reconciliation will be discussed in the succeeding chapters.

Together with the bank statements, the banks will include the copies of checks cleared
or paid by the bank for that particular month.

Figure 1. Sample of a Bank Statement.

ABM BANK
San Jose St., Dumaguete

Cardo Dalisay
Perdices St., Dumaguete City
Current Account No. 2030071245
Statement Period: 11/01/20 – 11/30/20

DATE CHECK TRANS CODE DEBIT CREDIT BALANCE

NO.

11/1/20 Balance Forwarded 44,200.00

11/3/20 12345 4,200.00 40,000.00
11/5/20 Deposit 5,000 45,000.00
11/6/20 Interest 500 45,500.00
11/6/20 Wtax 50.00 45,450.00
11/7/20 Bank Service Charge 150.00 45,300.00
11/10/20 12345 5,200 40,100.00
NOTE:
*Bank statements can vary from bank to bank.
*There is no standard format for bank statement.

18
 ’s More

Task 3

Direction: Use the sample bank statement below to answer the questions. Write your answer
on your activity notebook.

Cardo has just received the statement for his current account with ABM Bank. This is
what his bank statement looks like:

ABM BANK
San Jose St., Dumaguete City
Tel: 1-888-123-4567

Current Account No. 2030071245 Mr. Cardo Dalisay

Statement Period: 12/01/20 – 11/31/20 Perdices St., Dumaguete City

DATE CHECK TRANS CODE DEBIT CREDIT BALANCE

NO.

12/1/20 Balance Forwarded ₱ 40,100.00

12/4/20 #12345 5,000.00 35,100.00
12/4/20 Bank Service Charge 100.00 35,000.00
12/15/20 Employer Pay 1,500.00 36,500.00
12/18/20 Interest 500 37,000.00
12/18/20 Employer Pay 5,000.00 42,000.00
12/21/20 Cell Phone Bill 4,000.00 38,000.00
12/21/20 W / tax 200.00 37,800
12/23/20 Umbrella Insurance Co. 2,000.00 35,800.00
12/29/20 #12345 5,200 ₱ 30,600.00

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Questions:

1. What type of account does Cardo have?

_____________________________________________________________________
2. What was the balance in the account on Dec. 1, 2020?
_____________________________________________________________________
3. What is the total amount of money deducted from the account on December 4, 2020?
_____________________________________________________________________
4. On what date(s) did Cardo receive money from his employer?
_____________________________________________________________________
5. What is the total amount of interest credited to his account?
_____________________________________________________________________
6. On what date was money withdrawn from the account to pay for a cell phone bill?
_____________________________________________________________________
7. What is the total number of checks debited to this account during statement period?
_____________________________________________________________________
8. What is the total amount of money deposited into this account during the statement
period?
_____________________________________________________________________
9. How much did Cardo pay for the Insurance company on December 23, 2020?
_____________________________________________________________________
10. How much money in Cardo’s bank account at the end of business on 21st of December
2020?
_____________________________________________________________________

I Have Learned

Task 4

Direction: In your activity notebook, complete the following:

1. As an ABM student, I have learned that

______________________________________________________________.

2. As an ABM student, I have realized that

______________________________________________________________.

3. As an ABM student, I will apply what I have learned

______________________________________________________________.

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 I Can Do
Interactive Bank Statement. Imagine you are an 18-year-old with an
Task 5 ATM/Debit Card. You start off the month with a balance of P500 in your
account and you have to make number of financial decisions over the
course of the month. Create a bank statement reflecting your opening
Direction: balance, all withdrawals and deposits made and your closing balance. Be
creative and use your imagination. You can have the same format (Figure
1) or you can use a different layout and way of describing the information.
Write this in your activity notebook.

Decision 1:
You want to buy a DVD that has just been released, do you:
o Buy the DVD in a mainstream shop at a cost of P400.00
o Download it at a cost of P300.00
o Buy the DVD at a discounted online price of P200.00

Decision 2:
It’s your birthday, your big brother gives you ₱100.00, your granny gives you ₱200
and you win ₱300 on a scratch card your aunt put into your birthday card. You deposit all
the money into your account but you want to treat yourself a little bit. What do you do with
your windfall? Do you:
o Go to a hair salon and spend ₱300
o Treat yourself and your two best friends to a birthday lunch at a cost of ₱500.00
o Buy yourself the latest computer game at a cost of ₱400.00

Decision 3:
A bunch of mates are going to a gig. Originally you thought you had to work that
night but it turns out that you can swap shifts with a work pal. One of your friends has decided
that they don’t want to go after all. Do you:
o Buy the ticket at the full price of ₱300.00
o Offer your friend half of the ticket price ₱150.00
o Decide not to go to the gig at all

Additional transactions:
• You earned ₱300 from cutting grass, ₱150 babysitting, and ₱200 in selling old books.
You deposit all in your account.
• Include bank charges
• Interest earned

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 Interactive Bank Statement Rubrics
Level of Achievement General Approach Comprehension
Exemplary •Addresses the task. •Demonstrates an accurate and complete
(15 pts quizzes) •States a relevant, justifiable understanding of the task.
answer. •Backs conclusions with data and
•Presents arguments in a logical warrants.
order. •Uses 2 or more ideas, examples and/or
arguments that support the answer.
Adequate •Does not address the task •Demonstrates accurate but only adequate
(10 pts quizzes) explicitly, although does so understanding of task because does not
tangentially. back conclusions with warrants and data.
•States a relevant and justifiable •Uses only one idea to support the answer.
answer. •Less thorough than above.
•Presents arguments in a logical
order.
Needs Improvement •Does not address the task. •Does not demonstrate accurate
(5 pts quizzes) •States no relevant answers. understanding of the task.
•Indicates misconceptions. •Does not provide evidence to support
•Is not clearly or logically their answer to the task.
organized.
No answer (0 pts)

Multiple Choice: Direction: Now that you have finished accomplishing this
module, let us check what you have learned. Choose the letter of the correct
answer and write it on your activity notebook.

1. What word can be written instead of the name of the person when the check is intended
to be encashed by just any person?
A. Any C. Cash
B. Unknown D. Special

2. Mr. Chu Rurut wrote a check for his electric bill. Chu is referred to as ___
A. the payee C. the drawee
B. the drawer D. the endorser

3. What is the purpose of writing a check?

A. to pay cash C. to represent a status symbol
B. to pay a person or business D. to pay small amount of money

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4. A check returned from the bank marked as “NSF” means
A. Non Sufficient Funds C. No Service Fee
B. No Signature Found D. No Stated Fee

5. When you make a deposit, are you adding money or subtracting money into your
account?
A. adding money C. both
B. subtracting money D. none of the above

6. When you make a withdrawal, are you adding money or subtracting into your account?
A. adding money C. both
B. subtracting money D. none of the above

7. Which of the following is the correct word form to write on a check for the amount
₱756.50?
A. seven hundred fifty six and 50/100 pesos
B. seven hundred fifty-six and 50/100 pesos
C. seven-hundred fifty-six and 50/100 pesos
D. seven hundred fity-six and 0.50 pesos

8. How is the amount written on a check?

A. words only C. Roman numbers
B. numbers only D. words and numbers

9. Julieta Perez had a balance of ₱2,500.00 in her checking account on January 1, 20xx.
On January 10, 20xx, she wrote a check to Jovi’s Hair Salon for ₱750.00. What is her
new balance?
A. ₱3,250.00 C. ₱1,700.00
B. ₱1,750.00 D. ₱3,200.00

10. Which of the following is not something that you fill out on a check?
A. your signature C. your birthdate
B. the date D. who the check is made payable to
11. Irvin Timtim received a bank statement showing the following amounts. What is the
present balance?

Previous balance : ₱ 453.21

Deposits : 449.00
Checks : 456.01
Service Charge : 2.34
Interest Earned : 2.98

A. ₱446.84 C. ₱456.98
B. ₱453.98 D. ₱543.00

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 12. Which of the following is a good check writing practice?
A. writing in pencil
B. writing in pen
C. writing in the middle of the legal line rather than starting at the left margin
D. leaving blank lines on your check

13. This is a written order to a bank to pay the amount stated to the person or business
named on it.
A. Safe deposit C. Check
B. Overdraft D. Bank Statement

14. Anna Gong purchased three rolls of wallpaper at Pamela’s Paints for
₱22.50 each. What was the amount of her check, expressed in word?
A. sixty-seven 50/100 pesos C. twenty-two and 50/100 pesos
B. sixty seven and 50/100 pesos D. sixty-seven and 100 pesos

15. A statement issued by a bank describing the activities in a depositor’s checking account
during the period.
A. Bank Check C. Deposit Slip
B. Financial Statement D. Bank Statement

DIRECTION: Give your thoughts on the statement below. Write your answer
on your activity notebook.

“In maintaining transparency and smooth transactions, a bank

statement is invaluable.”

________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________
________________________________________________________

24
 25
ASSESSMENT
1. C.
2. B.
3. B.
4. A.
5. A.
6. B.
7. A.
8. D.
9. B.
10. C.
Additional Activities 11. A.
12. B.
Answers may vary 13. C.
14. B.
15 D.
What’s More
Task 3
1. Current Account
2. ₱40,100.00 Lesson 2
3. ₱ 5,100.00
4. Dec. 15, 2020 & Dec. 18, 2020 What’s In
5. ₱ 500.00 Task 1:
6. Dec. 21, 2020 1. Answers may vary
7. 2 checks 2. Answers may vary
8. ₱7,000.00 3. Answers may vary
9. ₱2,000.00
10. ₱37,800.00 What’s New
Task 2
What I Have Learned
Task 4: 1. debit column
Answers may vary 2. check number
3. credit column
Task 5: 4. transaction code
Answers may vary 5. date column
Glossary

Bank service charge - monthly fee charged by the bank for its services

Bank statement – a document that shows the deposits made, checks issued by the depositor
and paid by the bank, bank charges made and other transactions affecting the depositor’s
account

Business – pertains to trade or commercial activity regularly engaged in as a means of

livelihood or with a viewpoint of obtaining profit

Check – an instrument issued by a person in payment for goods and services acquired; a
document that orders a bank to pay a specific amount of money from a person’s account to the
person in whose name the check has been issued

Deposit – a financial term that means money help at a bank; a transaction involving a transfer
on money to another party for safekeeping

Drawer – the person or entity who makes the check

Drawee – the bank or other financial institution where the check can be presented for
payment

Drawing – represents the withdrawals made by the owner of the business either cash or other
assets

Non Sufficient Fund (NSF) – when a deposited check from a customer “bounces” because of
insufficient funds

Payee – the recipient of the money

Post dated check – a check dated for future use

Stale check - A check which a bank will not accept and exchange for money or payment
because it was written more than a certain number of months ago

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References

Books:

Salazar, D. 2017. Fundamentals of Accountancy, Business and

Management 2. First Edition. Sampaloc, Manila: Rex Book Store, Inc.

Gomendoza, J., et al. 2017. Fundamentals of Accountancy, Business and

Management 2. South Triangle, Quezon City: C & E Publishing, Inc.

Online Sources:

Department of Education. Fundamentals of Accountancy, Business and

Management – Grade 12: Teacher’ Guide1st ed. 2016, 120-123.

Bank Statements. Retrieved on January 25, 2021 from

https://quiziz.com

Bank Statement. Retrieved on January 25, 2021 from

https://mint.intuit.com

Check. Retrieved on January 22, 2021 from

www.Investopedia.com

Check & Crossing. Jaiswal, I. Retrieved on January 22, 2021 from

https://slideshare.net/mobile/

Check Writing Quiz. Retrieved on January 25, 2021 from

https://quiziz.com

How to Write a Check. Retrieved on January 25, 2021 from

www.balance.com

Making a Bank Statement. Retrieved on January 25, 2021 from

https://moneymatters.ccpc

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