Scribd Logo
Upload

Welcome to Scribd!

  • JOURNALIZATION

    Uploaded by

    Jun Martine Salcedo
    9 views6 pages
    The document records transactions from May 1-31 for a business. It includes details of initial investments, purchases of supplies, equipment and merchandise, sales both for cash and on account, payments to suppliers, salaries paid, and various expenses at month end. Transactions are organized by date and include debits and credits to relevant accounts like cash, inventory, accounts payable and receivable.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document records transactions from May 1-31 for a business. It includes details of initial investments, purchases of supplies, equipment and merchandise, sales both for cash and on account, payments to suppliers, salaries paid, and various expenses at month end. Transactions are organized by date and include debits and credits to relevant accounts like cash, inventory, accounts payable and receivable.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    9 views6 pages

    JOURNALIZATION

    Uploaded by

    Jun Martine Salcedo
    The document records transactions from May 1-31 for a business. It includes details of initial investments, purchases of supplies, equipment and merchandise, sales both for cash and on account, payments to suppliers, salaries paid, and various expenses at month end. Transactions are organized by date and include debits and credits to relevant accounts like cash, inventory, accounts payable and receivable.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    DATE ACCOUNTS TITLE AND EXPLANATION

    MAY 1 Cash
    JPThrice,Capital
    Initial Investment

    2 Supplies
    Cash
    Bought Supplies

    3 Merchandise Inventory
    Accounts Payable
    Ganda.com Merchandise, 2/10,n/30

    3 Equipment
    Cash
    Bought Equipment

    4 Accounts Receivable
    Sales
    Sales on account FOB destination terms

    Cost of goods sold


    Merchandise Inventory
    Cost of merchandise sold

    5 Freight out
    Cash
    Freight on May 4

    6 Accounts payable
    Merchandise Inventory
    Received credit form Ganda.com for merchandise return

    10 Accounts payable
    Cash
    Merchandise Inventory
    Payment of Ganda.com, May 3 Transaction

    13 Cash
    Sales discount
    Accounts Receivables
    Collected Cash from May 4

    15 Cash
    Notes Payable
    Promisorry note sign with Land Bank

    15 Salaries
    Cash
    Salaries Paid

    16 Merchandise Inventory
    Cash
    Bought merchandise on cash basis

    17 Cash
    Merchandise Inventory
    Refund from supplier on May 16

    19 Merchandise Inventory
    Accounts Payable
    Bought merchandise from TESDA, FOB shipping point terms 2/10,n/30

    20 JPThrice,Drawings
    Cash
    Withdrawal for personal use

    22 Cash
    Sales
    Cash Sales

    Cost of goods sold


    Merchandise Inventory
    Cost of merchandise sold

    24 Accounts payable
    Cash
    Paid TESDA distributors

    26 Merchandise Inventory
    Cash
    Bought merchandise on cash basis

    28 Merchandise inventory
    Cash
    Freight on May 19

    29 Accounts Receivable
    Sales
    Sales on account with terms of n/30
    Cost of goods sold
    Merchandise Inventory
    Cost of merchandise sold

    30 Sales returns & allowances


    Cash
    Refund to customers for defective goods

    31 Advertising
    Utilities
    Rent
    Salaries
    Cash
    Month end expenses
    F DEBIT CREDIT
    ₱ 40,000.00
    ₱ 40,000.00

    ₱ 1,700.00
    ₱ 1,700.00

    ₱ 15,900.00
    ₱ 15,900.00

    ₱ 10,000.00
    ₱ 10,000.00

    ₱ 16,200.00
    ₱ 16,200.00

    ₱ 13,200.00
    ₱ 13,200.00

    ₱ 1,200.00
    ₱ 1,200.00

    ₱ 1,300.00
    ₱ 1,300.00

    ₱ 14,600.00
    ₱ 14,308.00
    ₱ 292.00

    ₱ 15,876.00
    ₱ 324.00
    ₱ 16,200.00

    ₱ 12,000.00
    ₱ 12,000.00
    ₱ 1,500.00
    ₱ 1,500.00

    ₱ 14,400.00
    ₱ 14,400.00

    ₱ 500.00
    ₱ 500.00

    ₱ 14,200.00
    ₱ 14,200.00

    ₱ 3,008.00
    ₱ 3,008.00

    ₱ 17,400.00
    ₱ 17,400.00

    ₱ 11,500.00
    ₱ 11,500.00

    ₱ 10,000.00
    ₱ 10,000.00

    ₱ 12,300.00
    ₱ 12,300.00

    ₱ 700.00
    ₱ 700.00

    ₱ 14,700.00
    ₱ 14,700.00
    ₱ 12,000.00
    ₱ 12,000.00

    ₱ 900.00
    ₱ 900.00

    ₱ 1,000.00
    ₱ 1,400.00
    ₱ 4,500.00
    ₱ 2,500.00
    ₱ 9,400.00

    You might also like