ACTIVITY 1.

1. D
2. A
3. A
4. B
5. B
6. A
7. D
8. D
ACTIVITY 2
PROBLEM 1-1
GROSS METHOD
 TO RECORD THE PAYMENT WITHIN THE DISCOUNT PERIOD.
AP (Price of the machine)
Cash (price of machine-discount)
Machinery (the discount, price of machine x the percent)
 TO RECORD THE PAYMENT BEYOND THE DISCOUNT PERIOD.
AP (PRICE OF MACHINE)
PURCHASE DISCOUNT LOST (THE DISCOUNT)
CASH (PRICE)
MACHINERY (DISCOUNT)

NET METHOD

 TO RECORD THE PAYMENT WITHIN THE DISCOUNT PERIOD

AP (PRICE OF MACHINE-DISCOUNT)
CASH (PRICE-DISCOUNT)
 TO RECORD THE PAYMENT BEYOND THE DISCOUNT PERIOD
AP (PRICE-DISCOUNT)
PURCHASE DISCOUNT LOST (DISCOUNT)
CASH (PRICE)

PROBLEM 1-2

1. LAND (FV)
BUILDING (FV)
ORDINARY SHARES (# OF SHARES X PAR VALUE)
SHARE PREMIUM (EXCESS)
2. LAND (FV)
DONATED CAPITAL (FV)
DONATED CAPITAL (AMOUNT OF LEGAL EXPENSES AND LAND TRANSFER)
CASH (AMOUNT OF LEGAL EXPENSES AND LAND TRANSFER)
3. GROSS METHOD
MACHINERY (INVOICE PRICE)
AP
 PAYMENTS
AP (INVOICE)
PURCHASE DISCOUNT LOST (INVOICE X CASH DISCOUNT)
CASH MACHINERY (INVOICE)
MACHINERY (PURCHASE DISCOUNT LOST)

LOSS ON REMOVING MACHINE (COST OF REMOVING OLD MACHINE)

SPARE PARTS INVENTORY (SPARE PARTS COST)
CASH

NET METHOD
ACQUISITION
MACHINERY (INVOICE-PURCHASE DISCOUNT LOST)
AP

PAYMENTS
AP (INVOICE-PDL)
PURCHASE DISCOUNT LOST
CASH (INVOICE)

LOSS ON REMOVING MACHINE (COST OF REMOVING OLD MACHINE)

SPARE PARTS INVENTORY (SPARE PARTS COST)
CASH

PROBLEM 1-3

1. MACHINERY
CASH
2. LAND (2/5 X AMOUNT OF LAND AND BUILDING)
BUILDING (3/5 X AMOUNT OF L AND B)
CASH
3. EQUIPMENT (# OF SHARES X PAR VALUE)
ORDINARY SHARES (# OF SHARES X PER SHARE)
SHARE PREMIUM (EXCESS)
4. LAND (FV)
DONATED CAPITAL (FV)

DONATED CAPITAL (AMOUNT OF LEGAL EXPENSES)

CASH (AMOUNT OF LEGAL EXPENSES)
5. LA PA KO SAGOT

HANGGANG DITO MUNAAAA, MESSAGE ME IF UR DONE, PAGPATULOY

KOOO. LABYUUU YOU CAN DO IT!!!!