Jordan Junior

1832148
Praktikum Cost

RAZCORP
Retained Earnings
For Period Ended February 28, 2020

Debit Credit
Cash $ 334,000.00
Accounts Receivable $ 250,000.00
Finished Goods $ 132,500.00
Work in Process - Cutting Dept. $ 96,575.00
Work in Process - Assembly Dept. $ 50,440.00
Work in Process - Finishing Dept. $ -
Materials $ 150,000.00
Land $ 300,000.00
Factory Building $ 250,000.00
Accumulated Dept. -Factory Building $ 10,000.00
Cutting Machine $ 145,300.00
Accumulated Dept. -Cutting Machine $ 10,000.00
Sewing Machine $ 175,000.00
Accumulated Dept. -Sewing Machine $ 10,000.00
Office Equipment $ 55,000.00
Accumulated Dept. -Office Equipment $ 7,500.00
Accounts Payable $ 98,875.00
Notes Payable $ 205,000.00
Withholding tax payable $ 10,000.00
Preference Share $ 300,000.00
Ordinary Share $ 600,000.00
Retained Earnings $ 687,440.00
Total $ 1,938,815.00 $ 1,938,815.00
Net Income - -
Total $ 1,938,815.00 $ 1,938,815.00
 RAZCORP
JOURNAL ENTRIES
FEBUARY 28, 2020
Date No. Journal Debit
1 1. Cash $ 20,000.00
Sales Revenue - Wallets
2 2. Commission Expense $ 1,500.00
Cash
3 3. Cash $ 24,000.00
Account Receivable - Bays Mas Shop
4 4. Advertising Expense $ 1,000.00
Cash
5 5. Materials - Zippers $ 15,000.00
Cash
6 6. Work in Proccess - Cutting Departemet $ 12,000.00
Materials - Leather
7 7. Work in Proccess - Assembly Departement $ 6,500.00
Materials - Zippers
8 8. Cash $ 10,000.00
Account Receivable - Mr. Mariones
9 9. Accounts Payble $ 10,000.00
Cash
10 10. Materials - Lining $ 6,000.00
Input Tax - VAT $ 600.00
Cash
11 11. Value Added Tax Expense $ 350.00
Cash
12 12. Cash $ 13,500.00
Account Receivable - Mr. Slyer
13 13. Accounts Payble $ 4,000.00
Cash
14 14. Materials - Leather $ 11,000.00
Cash
15 15. Cash $ 10,000.00
Account Receivable - Shishi Shop
16 16. Materials- Leather $ 34,600.00
Cash
17 17. Materials - Zippers $ 7,800.00
Cash
18 18. Cash $ 65,000.00
Account Receivable - Wyatt Shop
19 19. Accounts Payble $ 10,800.00
Cash
20 20. Light & Heat Expense (Electricity) $ 3,790.00
Cash
21 21. Utilty Expense (Telephone) $ 2,550.00
Cash
22 22. Cash $ 16,900.00
Accounts Receivable - Mr. Buds
23 23. Accounts Payble $ 6,000.00
Cash
24 24. Work in Process - Assembly Departement $ 19,640.00
Materials - Lining
25 25. Work in Process - Assembly Departement $ 16,300.00
Materilas - Leather
26 26. Cash $ 5,000.00
Accounts Receivable
27 27. Subscription Expense $ 400.00
Cash
28 28. Supplies $ 298.00
Cash
29 29. Materials - Leather $ 40,000.00
Cash
30 30. Materials - Lining $ 41,300.00
Cash
31 31. Repairs & Maintaenance Expense $ 3,750.00
Cash
32 32. Work in Process - Cutting Departement $ 4,000.00
Materials
33 33. Accounts Receivable - Jazzy Shop $ 16,340.00
Sales
34 34. Commission Expense $ 500.00
Cash
35 35. Cash $ 60,000.00
Accounts Receivable - Diamond
36 36. Accounts Payable $ 12,000.00
Cash
37 37. Accounts Payable $ 5,000.00
Cash
38 38. Work in Process - Cutiing Departement $ 34,000.00
Materials - Leather
39 39. Work in Process - Assembling Departement $ 11,000.00
Materilas - Zipper
40 40. Cash $ 50,000.00
Sales
 Credit Cash Accouynt Receivable - Bays Mas
20,000 1,500
$ 20,000.00 24,000 1,000
10,000 15,000
$ 1,500.00 13,500 10,000
7,260
$ 24,000.00 350
4,000
$ 1,000.00

$ 15,000.00

$ 12,000.00

$ 6,500.00
Account Payable Materials Zippers
$ 10,000.00 10,000 15,000
4,000 7,800
$ 10,000.00

$ 6,600.00

$ 350.00 Sales Revenue Accouynt Receivable - Bays Mas

20,000
$ 13,500.00

$ 4,000.00

$ 11,000.00

$ 10,000.00 Commission Expense

1,500
$ 34,600.00

$ 7,800.00

$ 65,000.00

$ 10,800.00
$ 3,790.00

$ 2,550.00

$ 16,900.00

$ 6,000.00

$ 19,640.00

$ 16,300.00

$ 5,000.00

$ 400.00

$ 298.00

$ 40,000.00

$ 41,300.00

$ 3,750.00

$ 4,000.00

$ 16,340.00

$ 500.00

$ 60,000.00

$ 12,000.00

$ 5,000.00

$ 34,000.00

$ 11,000.00

$ 50,000.00
couynt Receivable - Bays Mas Accouynt Receivable - Mr Marines Advertising Expenses
24,000 10,000 1,000

Materials Zippers Material Leather

6,500 24,000

couynt Receivable - Bays Mas

12,000
Advertising Expenses
1,500