Professional Documents
Culture Documents
, a merchandising company owned by the sole proprietor Xylia En Dela Cruz just opened its store in June 1, 2016 at
UPS 5 Brgy. San Isidro, Sucat Paraaque City and had the following transactions during the month.
4-Jun Purchased P150,080 worth of merchandise inventory from HousePapers Company on account 2%/n30
Purchased merchandise amounting to P 100,800 in cash to Penshop Company
5-Jun Purchased merchandise amounting to P128,800 on account to DigiTech Corp.
8-Jun Sold merchandise amounting to P78,400 to Genuine Company on account, 2%/n15.
9-Jun Returned P 1,120 worth of merchandise purchased to HousePapers Company due to damages
10-Jun Received P 21,280 cash for merchandise sold to Ms. Sharon
Sold P54,208 worth of school supplies to Montgomery Company with terms 2%/15
15-Jun Paid P5,500 salary of staff for the period June 1-15.
Paid P6,000 fixed salary of company driver for the half of the month.
17-Jun Issue ck.#002 for payment of account to HousePaper Companto
18-Jun Josephine an office staff, advanced P1,000 for personal use and promised to pay in July.
19-Jun Received P19,040 cash for merchandise sold to customers.
21-Jun Received ck. from Genuine Company in payment for merchandised purchased with terms 2%/n15.
25-Jun Received ck. from Montgomery Company in payment for merchandised purchased with terms 2%/n15.
28-Jun Received telephone bills and recorded it as liability for P5,500
Received electricty bill and paid P12,745 in cash.
Received water bill and paid P3,985 in cash.
29-Jun Paid salary to employees for the period August 16-31 as follows:
Joseph (company driver) P6,000
Josephine (store staff) P5,500
The proprietor incurred official gasoline expenses for P5,000 and was reimbursed by the staff
30-Jun The owner withdraws cash for P20,000
June 1, 2016 at
account 2%/n30
Company Name: QUICK MERCHANDISING Page No. 0 1
GENERAL JOURNAL
DATE Account Title & Explanation PR DEBIT CREDIT
2017
June 1 Cash 100-01 70 0 0 0 0
Store supplies 100-08 1 0 0 0 0
Delivery vehicle 101-02 10 0 0 0 0
Office equipment 101-01 2 3 0 0 0
Dela Cruz Capital 300 8 0 3 000
To record initial capital investment
of Xylia En Dela Cruz to the business
4 Purchases 500-01 9 0 0 00
VAT input tax 100-13 1 0 8 00
Cash 100-01 1 0 0 800
To record cash purchases
Freight - in 1 0 00
Cash 100-01 1 000
To record delivery charge.
5 Purchases 500-01 11 5 0 00
VAT input tax 100-13 1 3 8 00
Accounts payable 200-01 1 2 8 800
To record purchases on account from
Digitech Corp.
12 Cash 100-01 2 8 0 00
Sales 400-01 2 5 000
VAT payable 200-07 3 000
To record cash sales to customers
19 Cash 100-01 1 9 0 40
Sales 400-01 1 7 000
VAT payable 200-07 2 040
To record cash sales to customers
21 Cash 100-01 7 6 0 4 7 22
Sales Discounts 400-01 1 5 5 1 98
Accounts Receivable 100-03 7 4 8 0 0 20
To record the payment of Genuin Co.
25 Cash 100-01 5 3 1 2 3 84
Sales Discounts 400-01 1 0 8 4 16
Accounts Receivable 100-03 5 4 208
To record the payment of Montgomery Co.
Prepaid Rent 4 5 0 0 0
Rental Deposit 3 0 0 0 0
Office Equipment 2 5 0 0 0
Store Equipment 1 0 0 0 0
Office Supplies 6 5 0 0
Store Supplies 3 5 0 0
0 8 0 0
Freight in 1 0 0 0
Advances to employees 1 0 0 0
Light and Water 1 2 7 4 5
Light and Water 5 5 0 0
Salaries and Wages 1 1 5 0 0
Salaries and Wages 2 0 0 0 0
QUICK MERCHANDISING
Receipts Journal
September 30,2016
TOTAL 52 7 6 00 1 0 5 0 0 0 1 0 0 0 0
VAT PAYABLE SUNDRIES
CREDIT ACCOUNT NAME DEBIT CREDIT
9 6 0 0
1 2 4 8 0 1 0 0 0 4 0 1 120
QUICK MERCHANDISING
Sales Journal
September 30,2016
TOTAL 8 9 6 00 8 0 0 0 0 9 6 0 0
QUICK MERCHANDISING
Purchase Journal
September 30,2016
TOTAL 12 0 0 00 1 4 4 0 0 1 3 4 4 0 0
134400
COMPANY'S NAME: QUICK MERCHANDISING GENERAL LEDGER
Account Title: CASH Account No. 100-01
820000
20000
300000
100000
210 210000
25080 25080
4000
1000
185000
12240 21840
2000
78400
79600 79600
500
1000
1106240 1106240
0
0
SUBISDIARY LEDGER
NAME: ABC COMPANY Account Title: Accounts Receivable
Purchases 210,000
Freight In 4,000
Total Purchases 214,000
Less: Purchase Returns 1,000