June Maylyn D.

Marzo
BSAIS 2nd year

Problem no. 1

1. Net Method
Aug1
DR Purchases 800,000
CR Accounts Payable 800,000

DR Purchases 1,000,000
CR Accounts Payable 1,000,000

Aug 16
DR Accounts Payable 784,000
DR Purchase Discount Lost 16,000
CR Cash 800,000

Aug 31
DR Accounts Payable 980,000
DR Purchase Discount Lost 20,000
CR Cash 1,000,000
2. Gross Method
Aug 1
DR Purchases 800,000
CR Accounts Payable 800,000

DR Purchases 1,000,000
CR Accounts Payable 1,000,000

Aug 16
DR Accounts Payable 800,000
CR Cash 800,000

Aug 31
 DR Accounts Payable 1,000,000
CR Cash 1,000,000
3. Allowance Method
Aug 1
DR Raw Materials Inventory 784,000
DR Allowance for Purchase Discount 16,000
CR Accounts Payable 800,000

DR Raw Materials Inventory 980,000

DR Allowance for Purchase Discount 20,000
CR Accounts Payable 1,000,000

Aug 16
DR Accounts Payable 800,000
DR Purchase Discount Lost 16,000
CR Allowance for Purchase Discount 16,000
CR Cash 800,000

Aug 31
DR Accounts Payable 1,000,000
DR Purchase Discount Lost 20,000
CR Allowance for Purchase Discount 20,000
CR Cash 1,000,0000
Problem No. 2
1. 8,600 + 7,500 = 16,100 x 97% = 483 – 16,100 = 15,617 CR Cash
Problem No. 3
1. 30,000 x 98% = 600
Problem No. 4
Purchase Issuance Balanc
e
Date Quantity Unit Amount Quantity UC Amnt Qty UC Amnt
Cost
Aug1 Balance 2000 36 7200
Aug7 3000 37.20 111600 2000 36 7200
3000 37.20 111600
Aug12 2000 36 72000 1400 37.20 52080
1600 37.20 59520
Aug21 4800 38 182400 1400 37.20 52080
4800 38 182400
Aug22 1400 37.20 52080 2400 38 91200
2400 38 91200
Aug29 1600 38.20 61600 2400 38 91200
1600 38.20 61600
152,690

Problem no. 5
1. 150,080
Problem no. 6
1. 20,520
Problem no. 7
1. 882,000
Problem no. 8
1. 784,350
Problem no. 9
1. 7,100,000
Problem no. 10
1. D. credit allowance for inventory writedown of 400,000
Problem no. 11
1. 2 x 360 units x 50/1 = 36,000 x 2=72 units
Problem no. 12
1. 40 units x 6 days = 240 units
2. 2 x 10,000 x 200/1 = 4,000,000 x 2 = 8,000 units
3. 10,000units/8,000units x 200 = 250
4. 8,000/2 x 1 = 16,000
Problem 13
1. (50/620) x 100% = 8.06%
2. (20 / 620) x 100% = 3.26%
3. (70/620) x 100% = 11.29%
Problem no. 14
1. A. Distribution payroll
DR WIP (Direct labor) 240,000
DR FOH (Indirect labor) 44,200
CR Payroll 284,200
Problem no. 15
1. DR Salaries Payable 40,000
DR Wage payable 100,000
DR Insurance Expense 120,000
CR Cash 260,000