Record the following business transactions in the : GJ, SJ, PJ, CRJ and CDJ. Add 12% to
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Record the following business transactions in the : GJ, SJ, PJ, CRJ and CDJ. Add 12% to all sales, purchases and freight invoices. How come image is not clear.
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2015 Dec. 1 merchandise 3 P2,500. 3 4 P18,500. Terms: 2/5, n/30. 4 5 9 10 12 13 14 Received additional cash investment from Choco, P230,000 and worth P75,000. Issued check no. 1781 in payment for the previous month's light and water bills, Sold merchandise for cash with a list price of P30,000 and a trade discount of 10%. Issued invoice no. 8121 to Bobby for merchandise sold on account, shipping point. Paid bill received from Cargo Shipping Co. for freight of the merchandise dated Dec.7, P1,300. Received payment from Bobby. Issued check no. 1782 in payment of the account to Noob Company. Issued check no. 1783 in payment of the cash purchases amounting P13,800. Bought office equipment from Hi-Tech Company, P50,000. Terms: 20% down payment, balance 5/15, n/60. 26 28 Granted 10% allowance on the merchandise sold to Bobby. Purchased merchandise on account from Noob Company, P25,000. Terms: 2/5, n/45, FOB 15 Issued check no. 1784 in payment of the salaries of the employees, P 20,000 less 5% withholding tax 17 Issued invoice no. 1822 to Engr. Luisito Ventura for sales on account, P10,500. Terms: n/30. 18 19 20 Terms: 5%/ eom. 21 Received loan proceeds from Worldwide Banking Corporation: principal amount, P120,000; interest deducted in advance, P12,000. Hershey Chan issued promissory note for this loan 23 Terms: 5/10, n/30 25 Cash sales, P17,850. Refunded customer for merchandise delivered with defects, P800, (without VAT). Purchased more store supplies on account from Victorino Supplies, P3,900. Purchased merchandise on account from Optima General Merchandise, P15,000. Issued check no. 1785 for cash purchases of merchandise, P18,600. Received refund from supplier due to deliveries with defects, P2,000, (without VAT) Issued invoice no. 8123 to Architect Paulita Vizmonte for sales on account, P7,500. Terms: n/30. 29 Issued invoice no. 8124 to Dr. Renato Wilbert for sales on account, P9,800. Terms: 20% downpayment, 2/5, n/30. 29 Paid amount due Hi-Tech Company for Dec. 14 transaction. Issued check no. 1786 in payment of more store supplies from Victorino Supplies, 30 P2,000. 31 Paid amount due Victorino Supplies for transaction dated December 20 Issued check no. 1787 in payment of the salaries of the employees, P20,000 less 5% Withholding tax, 3% SSS, 1.5 Philhealth and 2% Pag-IBIG. 31 31 Close input tax against output tax 2015 Dec. 1 merchandise 3 P2,500. 3 4 P18,500. Terms: 2/5, n/30. 4 5 9 10 12 13 14 Received additional cash investment from Choco, P230,000 and worth P75,000. Issued check no. 1781 in payment for the previous month's light and water bills, Sold merchandise for cash with a list price of P30,000 and a trade discount of 10%. Issued invoice no. 8121 to Bobby for merchandise sold on account, shipping point. Paid bill received from Cargo Shipping Co. for freight of the merchandise dated Dec.7, P1,300. Received payment from Bobby. Issued check no. 1782 in payment of the account to Noob Company. Issued check no. 1783 in payment of the cash purchases amounting P13,800. Bought office equipment from Hi-Tech Company, P50,000. Terms: 20% down payment, balance 5/15, n/60. 26 28 Granted 10% allowance on the merchandise sold to Bobby. Purchased merchandise on account from Noob Company, P25,000. Terms: 2/5, n/45, FOB 15 Issued check no. 1784 in payment of the salaries of the employees, P 20,000 less 5% withholding tax 17 Issued invoice no. 1822 to Engr. Luisito Ventura for sales on account, P10,500. Terms: n/30. 18 19 20 Terms: 5%/ eom. 21 Received loan proceeds from Worldwide Banking Corporation: principal amount, P120,000; interest deducted in advance, P12,000. Hershey Chan issued promissory note for this loan 23 Terms: 5/10, n/30 25 Cash sales, P17,850. Refunded customer for merchandise delivered with defects, P800, (without VAT). Purchased more store supplies on account from Victorino Supplies, P3,900. Purchased merchandise on account from Optima General Merchandise, P15,000. Issued check no. 1785 for cash purchases of merchandise, P18,600. Received refund from supplier due to deliveries with defects, P2,000, (without VAT) Issued invoice no. 8123 to Architect Paulita Vizmonte for sales on account, P7,500. Terms: n/30. 29 Issued invoice no. 8124 to Dr. Renato Wilbert for sales on account, P9,800. Terms: 20% downpayment, 2/5, n/30. 29 Paid amount due Hi-Tech Company for Dec. 14 transaction. Issued check no. 1786 in payment of more store supplies from Victorino Supplies, 30 P2,000. 31 Paid amount due Victorino Supplies for transaction dated December 20 Issued check no. 1787 in payment of the salaries of the employees, P20,000 less 5% Withholding tax, 3% SSS, 1.5 Philhealth and 2% Pag-IBIG. 31 31 Close input tax against output tax
Expert Answer:
Answer rating: 100% (QA)
Date Description Ref Debit Credit Dec 1 Additional cash investment from Choco 230000 230000 75000 75000 Dec 3 Issued check no 1781 in payment 2500 2500 for the previous months light and water bills De... View the full answer
Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
Posted Date:
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