Directions: Post the following transactions of Quana Trading to the General ledger and prepare subsidiary ledgers...
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Directions: Post the following transactions of Quana Trading to the General ledger and prepare subsidiary ledgers of various accounts for the month of September 201C. Sept. 02 Collected cash from PAU Merchandising Php 25,000 from previous month balance of Php 35,000. Sept. 03 Purchase merchandise from BOI Trading Php 120,000 on account. Sept. 05 Sales on account to Humpy Enterprise Php 35,654, delivery cost was charged amounting Php 500. Sept. 08 Sept. 10 Rubrics Paid internet based on the bill received on Sept. 01 amounting Php 1,650. Partial payment was made on the purchase on account dated Sept. 03 amounting Php 50,000. Category 5 Correctness Computed correctly Presentation Well presented 4 One account not included in computation 1 to 2 accounts not presented 3 Not computed correctly Many accounts not included 1-2 Did not compute All accounts not presented II. Directions: Prepare subsidiary ledger of the following accounts of Phantom Trading. ACCOUNTS RECEIVABLE DEBIT DATE DATE June 02 June 03 June 08 June 15 June 23 June 30 Rubrics Category Correctness Presentation Explanation SAP Trading. Phaley Ent. Rokie Ent. Fany Mdsg. Elco Mdsg. Blue Magic 5 Computed correctly Well presented 75,650 25,001 7,650 5,785 120,657 85,006 289,951 4 One account not included in computation 1 to 2 accounts not presented June 07 June 10 June 11 June 20 June 25 June 28 3 Not computed correctly Many accounts not included Explanation SAP Trading Rokie Ent. Phaley Ent. Fany Mdsg. SAP Trading Phaley Ent. CREDIT 1-2 Did not compute All accounts not presented 50,400 5,265 20,450 5,700 20,000 3,000 150,000 Directions: Post the following transactions of Quana Trading to the General ledger and prepare subsidiary ledgers of various accounts for the month of September 201C. Sept. 02 Collected cash from PAU Merchandising Php 25,000 from previous month balance of Php 35,000. Sept. 03 Purchase merchandise from BOI Trading Php 120,000 on account. Sept. 05 Sales on account to Humpy Enterprise Php 35,654, delivery cost was charged amounting Php 500. Sept. 08 Sept. 10 Rubrics Paid internet based on the bill received on Sept. 01 amounting Php 1,650. Partial payment was made on the purchase on account dated Sept. 03 amounting Php 50,000. Category 5 Correctness Computed correctly Presentation Well presented 4 One account not included in computation 1 to 2 accounts not presented 3 Not computed correctly Many accounts not included 1-2 Did not compute All accounts not presented II. Directions: Prepare subsidiary ledger of the following accounts of Phantom Trading. ACCOUNTS RECEIVABLE DEBIT DATE DATE June 02 June 03 June 08 June 15 June 23 June 30 Rubrics Category Correctness Presentation Explanation SAP Trading. Phaley Ent. Rokie Ent. Fany Mdsg. Elco Mdsg. Blue Magic 5 Computed correctly Well presented 75,650 25,001 7,650 5,785 120,657 85,006 289,951 4 One account not included in computation 1 to 2 accounts not presented June 07 June 10 June 11 June 20 June 25 June 28 3 Not computed correctly Many accounts not included Explanation SAP Trading Rokie Ent. Phaley Ent. Fany Mdsg. SAP Trading Phaley Ent. CREDIT 1-2 Did not compute All accounts not presented 50,400 5,265 20,450 5,700 20,000 3,000 150,000
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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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