Albufera, Marichris D.

BSBA II- FM2

NO. ACCOUNT TITLE

1 Cash
JN, Capital

2 Invetory/Purchases
Input VAT
Account Payable

3 Accounts Payable
Purchase and Allowance
Input tax

4 Purchase
Input VAT
Cash

5 Cash
Purchase Return and Allowance
Input VAT

6 Accounts Receivable
Sales
Output VAT

7 Sales Return and Allowance

Output Tax
Accounts Receivable

8 Cash
Sales
Output VAT

9 Sales Return and Allowance

Output Tax
Cash

10 Accounts Payable
Purchase Discount
Input tax
 Cash

11 Cash
Sales Discount
Output Tax
Accounts Receivable

12 Accounts Receivable
Sales
Output Tax

13 Cash
Accounts Receivable

14 Invetory/Purchases
Input VAT
Accounts Payable

15 Rent Expense
Cash

16 Repair and Maintenance

Cash

17 Gas and oil Expense

Cash

18 Office Equipment
Input VAT
Cash

COMPUTE THE VAT PAYABLE

Input VAT
3,600.00 600
600 60
1,440.00 60
720
P 5,640.00

Output VAT
Less: Input VAT
VAT Payable
DEBIT CREDIT
P 200,000
P 200,000

30,00
3,600
33,600

5,600
5,000
600

5,000
600
5,600

560
500
60

11,200
10,000
1,200

1,000
120
1,120

3,360
3,000
360

500
60
560

28,000
500
60
 27,440

9,979.20
90
10.8
10,080

16,800
15,000
1,800

15,000
15,000

12,000
1,440
13,440

5,000
5,000

1,000
1,000

3,000
3,000

6,000
750
6,720

Outout VAT
120 1,200.00
60 360
10.8 1,800.00
P 3,169.20

3,169.20
( 5,640.00)
(P 2,470.80)