Scribd
Upload
15 views3 pages

Bsbafm1 Acctg1 Exercise12

Uploaded by

devy mar topia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
15 views3 pages

Bsbafm1 Acctg1 Exercise12

Uploaded by

devy mar topia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

OSIAS COLLEGES INC.

F. Tanedo St. San Nicolas, Tarlac City


Tel. No. 045-982-02-45

DEVY MAR M. TOPIA


BSBA - FM1
EXERCISE 12: The following transactions took place for the month of April 2014 for
Summer Trading Company uses periodic inventory system. Disregard the value added tax
for all purchases and sales. You are required to record the transactions in the Cash Receipt
Journal, Cash Disbursement Journal, Sales Journal, Purchase Journal and General
Journal. In addition, maintain subsidiary ledgers for customers and creditors.
Summer Trading Company
Sales Journal
As of April 2014
DATE CUSTOMER PR ACCOUNT SALES
RECEIVABLE (CREDIT)
(DEBIT)
APR 18 Anita Company P240,000 P240,000
20 Rose Company 350,000 350,000
P590,000 P590,000

Summer Trading Company


Purchase Journal
As of April 2014
DATE CUSTOMER PR ACCOUNT PURCHASES
PAYABLE (DEBIT)
(CREDIT)
APR 8 ABC Trading P350,000 P 350,000
16 XYZ Trading 250,000 250,000
P600,000 P600,000
Summer Trading Company
Cash Receipts Journal
As of April 2014
DATE PARTICULARS SUNDRY SALES ACCOUNT SALES CASH
ACCOUNTS (CREDIT) RECEIVABLE DISCOUNT (DEBIT)
(CREDIT) (CREDIT) (DEBIT)
APR 1 Summer Capital P900,000 P900,000
3 Notes Payable 500,000 500,000
10 Cash Sales P100,000 100,000
24 Collection of A/R P230,000 230,000
28 Collection of A/R 350,000 350,000
P1,400,000 P100,000 P580,000 P2,080,000
Summer Trading Company
Cash Disbursement Journal
As of April 2014
DATE CHECK ACCOUNT SUNDRY PURCHASE ACCOUNT PURCHASE CASH
NO. DEBITED ACCOUNTS (DEBIT) PAYABLE DISCOUNT (CREDIT)
(DEBIT) (DEBIT) (CREDIT)
APR Freight in P1,200 P 1,200
8
9 Store Supplies 45,000 45,000
11 Sales Return 5,000 5,000
15 ABC Trading P350,000 7,000 343,000
22 Summer Withdrawals 40,000 40,000
27 XYZ Trading 250,000 250,000
29 Advertising Expense 20,000 20,000
30 Salaries Expense 95,000 95,000
P206,200 P600,000 P7,000 P799,200

Summer Trading Company


General Journal
As of April 2014
DATE ACCOUNT TITLE PR (DEBIT) (CREDIT)
APR 2 Store Equipment 200
Summer Capital 200
To record equipment investments
21 Sales Return and Allowances 10,000
Account Receivable 10,000
To record sales return
SUBSIDIARY LEDGER – ACCOUNT RECEIVABLE
DATE PARTICULARS PR (DEBIT) (CREDIT) BALANCE

APR 18 Sales on account SJ - 1 P240,000 P240,000


21 Sales Return GJ - 1 P10,000 230,000
24 Collection of Sales CRJ -1 230,000 *******
CUSTOMER: Anita Company

DATE PARTICULARS PR (DEBIT) (CREDIT) BALANCE

APR 20 Sales on account SJ -1 P350,000 P350,000


28 Collection of Receivables CRJ -1 350,000 ******
CUSTOMER: Rose Company

SUBSIDIARY LEDGER – ACCOUNT PAYABLES


DATE PARTICULARS PR (DEBIT) (CREDIT) BALANCE

APR 8 Purchased on account PJ -1 P350,000 P350,000


15 Paid the account CDJ-1 P350,000 *******
CREDITOR: ABC Trading

DATE PARTICULARS PR (DEBIT) (CREDIT) BALANCE

APR 16 Purchased on account PJ-1 P250,000 P250,000


27 Paid the account CDJ-1 P250,000 ********
CREDITOR: XYZ Trading

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy