ASSIGNMENT # 2 Anthony's Merchandising Enterprise

DATE PARTICULARS TERMS DR. CR.

07/01/20 Accounts Receivable – R.P. Traders Php3,980.00
Sales 2/5,n/30 Php3,980.00
# To record the Sale of Merchandise on account terms; 2/5,n/30
07/02/20 Freight Expense Php150.00
Cash Php150.00
# To record the Freight Charge incurred during the sale.
07/04/20 Purchases Php1,500.00
Accounts Payable-Kato Manufacturers 2/10,n/30 Php1,500.00
# To record the Purchase on account , Terms; 2/10,n/30
07/06/20 Cash Php3,900.40
Sales Discount Php79.60
Accounts Receivable – R.P. Traders Php3,980.00
# To record the collection of A/R in full within the discount period
07/08/20 Accounts Payable-Kato Manufacturers Php100.00
Purchase Return Php100.00

07/10/20 Accounts Receivable- Quality Store Php1,000.00

Sales 2/5,n/30 Php1,000.00

07/11/20 Freight Expense Php100.00

Cash Php100.00

07/15/20 Accounts Payable-Kato Manufacturers Php1,372.00

Purchase Discount Lost Php28.00
Cash Php1,400.00

07/18/20 Sales Return Php200.00

Accounts Receivable- Quality Store Php200.00

07/19/20 Cash Register (5,000*90%) Less 10%, Php4,500.00

Accounts Payable – Eastern Trading Company 2/10, n/30 Php4,500.00

07/20/20 Freight-In Php250.00

Cash Php250.00

08/09/20 Cash Php800.00

Accounts Receivable- Quality Store Php800.00
# To record the Payment in full wihtout the discount period
08/12/20 Cash Php2,000.00
Accumulated Depreciation Php1,000.00
Office Furniture Php2,500.00
Gain on Sale Php500.00

08/13/20 Freight Expense Php100.00

Cash Php100.00

08/15/20 Accounts Payable – Eastern Trading Company Php500.00

Purchase Allowance Php500.00

08/20/20 Accounts Receivable – Martin Company Php3,200.00

Sales 2/5,n/30 Php3,200.00

Accounts Payable – Eastern Trading Company Php3,600.00

Purchase Discount Lost Php400.00
Cash Php4,000.00

08/22/20 Sales Return Php250.00

Accounts Receivable – Martin Company Php250.00

08/25/20 Cash Php2,891.00

Sales Discount Php59.00
Accounts Receivable – Martin Company Php2,950.00
TOTAL Php31,960.00 Php31,960.00
ASSIGNMENT #
3 BRGY. CONVENIENCE STORE
DATE PARTICULARS TERMS DR. CR.
Jan 02 Cash Php20,000.00
Mr. M.D.L. Reyes, Capital Php20,000.00

Jan 02 Cash In Bank – Brgy. Convenience Store

Cash Php20,000.00 Php20,000.00

Jan 03 Taxes and Licenses Php450.00

Cash Php450.00

Jan 04 Store Furniture Php4,500.00

Accounts Payable – Herran Furniture Shop 2/10,n/30 Php4,500.00

Jan 05 Purchases Php8,000.00

Accounts Payable – Universal Mnfg. Corp. 2/10,n/30 Php8,000.00

Jan 06 Cash In Bank Php1,200.00

Sales Php1,200.00

Jan 07 Salaries Expense Php2,500.00

Cash Php2,500.00

Jan 09 Accounts Receivable – El Rey Tailoring Php1,500.00

Sales 1/5,n/30 Php1,500.00

Jan 11 Delivery Expense Php75.00

Cash Php75.00

Jan 12 Purchases (12,500*90%) Less:10%, Php11,250.00

Notes Payable – 30-day, @12% 2/10,n/30 Php6,000.00
Accounts payable – Globe International Company Php5,250.00

Jan 14 Cash (1,500*.99) Php1,485.00

Sales Discount (1,500*.01) Php15.00
Accounts Receivable – El Rey Tailoring Php1,500.00

Jan 16 Accounts Payable – Universal Mnfg. Corp. (8,000*98%) Php7,840.00

Purchase discount Lost (8,000*2%) Php160.00
Cash Php8,000.00

Jan 18 Purchase Php3,200.00

Cash Php3,200.00

Jan 19 Freight – In Php120.00

Cash Php120.00

Jan 25 Accounts Payable – Herran Furniture Shop Php250.00

Purchase Allowance Php250.00

Jan 30 Drawings,M.D.L Reyes Php900.00

Cash Php500.00
Inventory Php400.00

Feb 04 Accounts Payable – Herran Furniture Shop (4,500-250)*98% Php4,165.00

Purchase discount Lost (4,500-250)*2% Php85.00
Cash Php4,250.00

Feb 10 Cash In Bank Php9,875.00

Interest Expense Php125.00
Notes Receivable – 60-day, @15% Php10,000.00

Feb 11 Notes Payable – Globe International Company Php6,000.00

Interest Expense [(6000*12%)*(30/360)] Php60.00
Cash Php6,060.00

Feb 14 Cash Php280.00

Purchase Return – Cash Purchases Php280.00

TOTAL Php104,035.00 Php104,035.00

ASSIGNMENT # 4 Tanya Farms
DATE PARTICULARS TERMS DR. CR.
Jan 02 Accounts Receivable,net Php22,050.00
Merchandise Inventory Php16,200.00
Store Equipment,net Php8,000.00
Jose David, Capital Php24,750.00
Accounts Payable Php21,500.00

Jan 02 Cash In Bank Php20,000.00

Jose David, Capital Php20,000.00

Jan 02 Purchases Php3,000.00

Accounts Payable – Jaime Manufacturing Company 2/10, n/30 Php3,000.00

Jan 04 Rent Expense Php1,000.00

Cash on Hand Php1,000.00

Jan 05 Accounts Receivable – San Diego Agri. Enterprises Php6,000.00

Sales 2/10, n/30 Php6,000.00

Jan 06 Cash on Hand Php9,800.00

Accounts Receivable – Various Customer Php9,800.00

Jan 08 Purchases (15,000*90%) Less 10%, Php14,700.00

Accounts Payable – Hi-Grade Poultry Product Company 1/10,n/30 Php14,700.00

Jan 11 Salaries Expense Php4,500.00

Cash on Hand Php4,500.00

Jan 13 Jose David, Drawings Php650.00

Cash on Hand Php650.00

Jan 16 Cash on Hand Php6,000.00

Accounts Receivable – San Diego Agri. Enterprises Php6,000.00

Jan 18 Accounts Payable – Hi-Grade Poultry Product Company Php14,700.00

Purchase Discount Php147.00
Cash on Hand Php14,553.00

Jan 20 Cash on Hand Php3,500.00

Accounts Receivable – Various Customer Php3,500.00

Jan 24 Accounts Payable Php3,000.00

Cash on Hand Php3,000.00

Jan 25 Accounts Receivable – Minalin Traders Php1,500.00

Sales 2/10, n/30 Php1,500.00

Jan 26 Vehicle (Jeep) Php50,000.00

Notes Payable 90-day @ 18% - Southern Motors Php50,000.00

Jan 27 Cash on Hand Php8,500.00

Sales Php8,500.00

Jan 28 Freight Expense Php150.00

Cash on Hand Php150.00

Jan 29 Sales Return Php150.00

Accounts Receivable – Minalin Traders Php150.00

Jan 30 Purchases Php6,500.00

Accounts Payable – San Jose Company 2/10, n/30 Php6,500.00

Jan 31 Cash on Hand (1,500-150)*98% Php1,323.00

Sales Discount (1,500-150)*2% Php27.00
Accounts Receivable – Minalin Traders Php1,350.00

Advertising Expense Php1,500.00

Cash on Hand Php1,500.00

TOTAL Php202,750.00 Php202,750.00

ASSIGNMENT #
5 Vista Trading
DATE PARTICULARS TERMS DR. CR.
Oct 01 Cash Php50,000.00
Victor Tablante, Capital Php50,000.00

Oct 02 Taxes and Licenses Php750.00

Cash on Hand Php750.00

Oct 05 Rent Expense Php3,500.00

Cash on Hand Php3,500.00

Oct 06 Cash on Hand Php8,200.00

Sales Php8,200.00

Oct 10 Purchases (13,000*95%) Less 5%, Php12,350.00

Accounts Payable – Paramount Supply Company 2/10, n/30 Php12,350.00

Oct 12 Cash on Hand Php1,000.00

Accounts Receivable – R. Martinez Php3,000.00
Sales 25% DP, n/30 Php4,000.00

Oct 13 Purchases Php13,000.00

Accounts Payable – Crown Enterprises 2/5,n/30 Php13,000.00

Oct 14 Freight – In Php550.00

Cash on Hand Php550.00

Oct 15 Notes Receivable, 15 – days @15% – O. Santos Php6,000.00

Sales Php6,000.00

Oct 16 Cash on Hand Php4,200.00

Sales Php4,200.00

Oct 17 Accounts Payable – Paramount Supply Company (13,000*95%)/2 Php6,175.00

Purchase Discount (6,175*2%) Php123.50
Cash on Hand (6,175*98%) Php6,051.50

Oct 18 Accounts Payable – Crown Enterprises Php13,000.00

Purchase Discount (13,000*2%) Php260.00
Cash on Hand (13,000*98%) Php12,740.00

Oct 19 Accounts Receivable – Apo Trading Php10,000.00

Sales 2/15,n/30 Php10,000.00

Oct 20 Accounts Payable – Paramount Supply Company (13,000*95%)/2 Php6,175.00

Purchase Discount (6,175*2%) Php123.50
Cash on Hand (6,175*98%) Php6,051.50

Oct 22 Sales Return Php3,500.00

Accounts Receivable – Apo Trading Php3,500.00

Oct 23 Cash on Hand Php3,500.00

Sales Php3,500.00

Oct 24 Sales Return Php350.00

Cash on Hand Php350.00

Oct 27 Purchases Php2,750.00

Accounts Payable – MRC Trading C.O.D. (Cash Php2,750.00
On Delivery)
Oct 29 Cash on Hand (10,000-3,500)*98% Php6,370.00
Sales Discount (10,000-3,500)*2% Php130.00
Accounts Receivable – Apo Trading Php6,500.00

Oct 30 Cash on Hand Php6,037.50

Interest Income Php37.50
Notes Receivable, 15 – days @15% – O. Santos Php6,000.00

Oct 31 Salaries Expense Php12,000.00

Cash on Hand Php12,000.00

Php172,537.50 Php172,537.50
ASSIGNMENT #
6 Emmanuel T rading
DATE PARTICULARS TERMS DR. CR.
Jan 02 Cash On Hand Php50,000.00
Emma Manuel, Capital Php50,000.00

Jan 03 Store Furniture Php15,000.00

Accounts Payable – Ace Furnitures 2/10,n/30 Php15,000.00

Jan 04 Purchases Php16,500.00

Accounts Payable – Tramo Merchandising Company 1/10,n/60 Php16,500.00

Jan 05 Accounts Receivable – Clara Reyes Php5,000.00

Sales 2/10,n/30 Php5,000.00

Jan 05 Cash On Hand Php10,000.00

Sales Php10,000.00

Jan 06 Office Supplies C.O.D.(Cash Php1,500.00

Accounts Payable – Various Supplier on Delivery) Php1,500.00

Jan 07 Accounts Payable – Tramo Merchandising Company Php500.00

Purchase Allowance Php500.00

Jan 08 Cash On Hand Php6,000.00

Sales Php6,000.00

Jan 09 Purchases Php15,000.00

Cash on Hand (15,000*30%) 30% DP, Php4,500.00
Accounts Payable – Merced Company (15,000*70%) 2/15,n/60 Php10,500.00

Jan 10 Accounts Payable – Tramo Merchandising Company (16,500-16,000) Php16,000.00

Purchase Discount (16,000*1%) Php160.00
Cash on Hand (16,000*99%) Php15,840.00

Jan 11 Salaries Expense Php12,000.00

Cash on Hand Php11,600.00
Contributions and Taxes Payable Php400.00

Jan 12 Accounts Receivable – Tina Santos Php2,500.00

Sales 2/10,n/30 Php2,500.00

Jan 15 Cash On Hand (5000/2)*98% Php2,450.00

Sales Discount (5000/2)*2% Php50.00
Accounts Receivable – Clara Reyes Php2,500.00

Jan 16 Accounts Payable – Ace Furnitures (15,000*98%) Php14,700.00

Purchase Discount Lost (15,000*2%) Php300.00
Cash on Hand Php15,000.00

Jan 18 Cash On Hand Php29,700.00

Interest Expense (30,000*12%)*(30/360) Php300.00
Notes Receivable 30 – Days @12% Php30,000.00

Jan 19 Purchases Php15,000.00

Accounts Payable – Ever Commercial n/60 Php15,000.00

Jan 20 Emma Manuel, Drawings Php1,500.00

Inventory Php1,500.00

Jan 22 Accounts Receivable – Regina Cruz Php5,000.00

Sales 2/10,n/30 Php5,000.00

Jan 23 Purchases Php7,500.00

Accounts Payable – Tip-Top Bazar 1/5,n/20 Php7,500.00

Jan 24 Accounts Receivable – Rosita Ramos Php4,000.00

Sales 2/10,n/30 Php4,000.00

Jan 25 Cash On Hand (5,000*98%) Php4,900.00

Sales Discount (5,000*2%) Php100.00
Accounts Receivable – Regina Cruz Php5,000.00

Jan 26 Utilities Expense Php2,500.00

Postage Stamps Php300.00
Cash on Hand Php2,800.00

Jan 28 Accounts Payable – Tip-Top Bazar Php7,500.00

Purchase Discount (7,500*1%) Php75.00
Cash on Hand (7,500*99%) Php7,425.00

Jan 29 Accounts Receivable – Zenaida Reyes Php3,500.00

Sales 2/10,n/30 Php3,500.00

Jan 30 Advances to employees – Other Receivable Php1,500.00

Cash on Hand Php1,500.00

Php250,800.00 Php250,800.00