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-   -   Journalizing merchandising transactions (https://www.askmehelpdesk.com/showthread.php?t=544867)

  • Jan 17, 2011, 06:05 AM
    cyrene
    Journalizing merchandising transactions
    Journalizing merchandising transactions

    Janet Matuguinas Company engaged in the ff transactions in October

    Oct 7 Sold merchandise on credit to Lacson Co. terms n/30, FoB shipping point, P30,00

    8 purchased merchandise on credit from Orcajada Co. terms n/30 FOB shipping point, P60,000

    9 Paid mendoza co. for shipping charges on merchandise purchased on Oct.8, P2540

    10 purchased merchandise on credit from Ortiz Co, Terms n/30 FOB shipping,P90,000. Freight prepaid by Ortiz, P6000

    13 purchased office supplies on credit from Dedumo Co. terms n/10, P24000

    14 sold merchandise on credit to Tagum Co. terms n/30 FOB shipping,P24000

    14 Returned damaged merchandise received from Orcajada Co. on Oct 8 for credit, P6000

    17 Received check payment from Lacson Co. for his purchase on Oct 7

    18 Returned a portion of the office supplies received on Oct 13 for credit, P4000

    19 sold merchandise for cash, P18000

    20 paid ortiz co. for purchase of oct.10

    21 paid orcajada co. the balance from the transaction on oct 8 and 14

    24 accepted from tagum co. a returnof merchandise,P2000
  • Sep 18, 2011, 10:41 PM
    Marrielle
    Purchased 1,000 tires at a cost of 600 per tire.Terms of payment: 1/10,n/45.
  • Sep 20, 2011, 06:43 AM
    pready
    Debit Tires (or other appropriate asset) for 1,000 tires @ $600 per tires
    Credit Accounts Payable for the amount
  • Sep 11, 2012, 09:39 PM
    jodelyn21
    Quote:

    Originally Posted by Marrielle View Post
    Purchased 1,000 tires at a cost of 600 per tire.Terms of payment: 1/10,n/45.

    Debit Purchases 600000
    Credit Accounts Payable 600000
  • Sep 11, 2012, 10:20 PM
    jodelyn21
    DATE Accounts Receivable- Lacson Co. P.R. DEBIT CREDIT
    Oct. 7 Accounts Receivable- Lacson Co. 30000
    Sales 30000

    8 Purchases 60000
    Accounts Payable- Orcajada Co. 60000

    9 Freight In 2540
    Cash 2540

    10 Purchases 90000
    Freight In 6000
    Accounts Payable- Ortiz Co. 96000

    13 Office Supplies 24000
    Accounts Payable- Dedumo Co. 24000

    14 Accounts Recievable- Tagum Co. 24000
    Sales 24000

    14 Accounts Payable- Orcajada Co. 6000
    Purchase Returns and Allowances 6000

    17 Cash 30000
    Accounts Receivable- Lacson Co. 30000

    18 Accounts Payable- Dedumo Co. 4000
    Office Supplies 4000

    19 Cash 18000
    Sales 18000

    20 Accounts Payable- Ortiz Co. 90000
    Cash 90000

    21 Accounts Payable- Orcajada Co. 54000
    Cash 54000

    24 Sales Returns and Allowances 2000
    Accounts Receivable- Tagum Co. 2000
  • Sep 12, 2012, 02:31 AM
    paraclete
    What is this twenty questions

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