Determine the accounts debited and credited on the following transactions: (Use Separate Sheet of Paper) Transactions...
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Determine the accounts debited and credited on the following transactions: (Use Separate Sheet of Paper) Transactions Periodic Perpetual 1. Bought merchandise for cash from Orbesido Superstore, P20,000 2. Paid freight on merchandise purchased P5,000. 3. Bought merchandise on account From J. Matuguinas Co. costing P25,000 4. Returned P2,000 cost of merchandise to J. Matuguinas Co. 5. Paid the account with J. Matuguinas Co. and availed a 2% discount 6. Sold merchandise on account to D. Pateño n P30,000. Actual cost of merchandise Soiu, . 0,000 7. Paid freight on merchandise sold to D. Pateño Co., P1,000 8. Received P2,000 worth of merchandise returned by D. Pateño Co.. Actual cost of merchandise returned was P1,500. 9. Collected the account of D. Pateño Co. and give a 3% discount. 10. Sold merchandise on cash, P6,000 and gave a 5% trade discount. Actual cost of merchandise sold, P5,000. 11. Paid freight on merchandise sold P300. 12. Bought merchandise on account from Cenon Tesorero costing P40,000 13. Paid the account with Cenon Tesorero and availed a 2% discount Determine the accounts debited and credited on the following transactions: (Use Separate Sheet of Paper) Non-Vat Registered VAT Registered Transactions 1. Bought merchandise in cash costing P50,000 2. Sold merchandise in cash amounting To P80,000 3. Returned P5,000 cost of merchandise to supplier purchased in cash. 4. Received P10,000 amount of merchandise sold in cash from a customer. 5. Bought merchandise on account costing P25,000. 6. Sold merchandise on account amounting to P60,000. 7. Returned P10,000 cost of merchandise purchased on account to a supplier. 8. Received P4,000 amount of merchandise sold on account from a customer. 9. Paid the transportation expenses for merchandise purchased in cash, P2,500. 10. Paid transportation expenses for merchandise sold to customer, P4,500. 11. Paid our account to a supplier P80.000 and availed 3% discount. 12. Collected from a customer's account of P120,000 after deducting a 2% discount. Determine the accounts debited and credited on the following transactions: (Use Separate Sheet of Paper) Transactions Periodic Perpetual 1. Bought merchandise for cash from Orbesido Superstore, P20,000 2. Paid freight on merchandise purchased P5,000. 3. Bought merchandise on account From J. Matuguinas Co. costing P25,000 4. Returned P2,000 cost of merchandise to J. Matuguinas Co. 5. Paid the account with J. Matuguinas Co. and availed a 2% discount 6. Sold merchandise on account to D. Pateño n P30,000. Actual cost of merchandise Soiu, . 0,000 7. Paid freight on merchandise sold to D. Pateño Co., P1,000 8. Received P2,000 worth of merchandise returned by D. Pateño Co.. Actual cost of merchandise returned was P1,500. 9. Collected the account of D. Pateño Co. and give a 3% discount. 10. Sold merchandise on cash, P6,000 and gave a 5% trade discount. Actual cost of merchandise sold, P5,000. 11. Paid freight on merchandise sold P300. 12. Bought merchandise on account from Cenon Tesorero costing P40,000 13. Paid the account with Cenon Tesorero and availed a 2% discount Determine the accounts debited and credited on the following transactions: (Use Separate Sheet of Paper) Non-Vat Registered VAT Registered Transactions 1. Bought merchandise in cash costing P50,000 2. Sold merchandise in cash amounting To P80,000 3. Returned P5,000 cost of merchandise to supplier purchased in cash. 4. Received P10,000 amount of merchandise sold in cash from a customer. 5. Bought merchandise on account costing P25,000. 6. Sold merchandise on account amounting to P60,000. 7. Returned P10,000 cost of merchandise purchased on account to a supplier. 8. Received P4,000 amount of merchandise sold on account from a customer. 9. Paid the transportation expenses for merchandise purchased in cash, P2,500. 10. Paid transportation expenses for merchandise sold to customer, P4,500. 11. Paid our account to a supplier P80.000 and availed 3% discount. 12. Collected from a customer's account of P120,000 after deducting a 2% discount.
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Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood
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