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  • MS. MATUTINA Owned A Business Named MATUTINA's GENERAL MERCHANDISE and Had MS. MATUTINA Owned A Business Named MATUTINA's GENERAL MERCHANDISE and Had

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    Melvin Facturanan
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    Ms. Matutina owns a general merchandise business. In February 2017, she invested cash and purchased inventory on account. She sold goods for cash and on account, returned some goods, paid expenses, and withdrew cash. The document provides transactions for the business and requests journalizing, posting to ledgers, and preparing a trial balance.

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    accounting

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    Road To NC3_2

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    Ms. Matutina owns a general merchandise business. In February 2017, she invested cash and purchased inventory on account. She sold goods for cash and on account, returned some goods, paid expenses, and withdrew cash. The document provides transactions for the business and requests journalizing, posting to ledgers, and preparing a trial balance.

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    622 views1 page

    MS. MATUTINA Owned A Business Named MATUTINA's GENERAL MERCHANDISE and Had MS. MATUTINA Owned A Business Named MATUTINA's GENERAL MERCHANDISE and Had

    Uploaded by

    Melvin Facturanan
    Ms. Matutina owns a general merchandise business. In February 2017, she invested cash and purchased inventory on account. She sold goods for cash and on account, returned some goods, paid expenses, and withdrew cash. The document provides transactions for the business and requests journalizing, posting to ledgers, and preparing a trial balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    MS. MATUTINA owned a business named MATUTINA’s GENERAL MERCHANDISE and had MS.

    MS. MATUTINA owned a business named MATUTINA’s GENERAL MERCHANDISE and had
    the following transactions for the month of February, 2017. the following transactions for the month of February, 2017.
    February 2 Matutina invested P500,000 in cash in the business. February 2 Matutina invested P500,000 in cash in the business.
    4 Purchased goods worth P455,700 on account from MAHARLIKA: Terms 4 Purchased goods worth P455,700 on account from MAHARLIKA: Terms
    2/10, n/30. 2/10, n/30.
    7 Purchased P 105,800 worth of goods from MATINO, on account, with terms 7 Purchased P 105,800 worth of goods from MATINO, on account, with terms
    3/15, 2/25, n/30. 3/15, 2/25, n/30.
    10 Sold goods to MAKABAYAN Management worth P550,400 in cash, the cost 10 Sold goods to MAKABAYAN Management worth P550,400 in cash, the cost
    of the goods is P180,900. of the goods is P180,900.
    12 The company returned 20,000 worth of goods to MAHARLIKA. 12 The company returned 20,000 worth of goods to MAHARLIKA.
    14 MAKABAYAN returned 165,120 worth of goods, cost of the returned 14 MAKABAYAN returned 165,120 worth of goods, cost of the returned
    merchandise is 54,270. merchandise is 54,270.
    18 Paid the following Expenses: Salaries – P27,900; Advertising – P93,780; and 18 Paid the following Expenses: Salaries – P27,900; Advertising – P93,780; and
    Delivery P85,400. Delivery P85,400.
    19 Sold goods to MATIKAS Inc. P690,800 on account. The cost of Goods is 19 Sold goods to MATIKAS Inc. P690,800 on account. The cost of Goods is
    P289,590. P289,590.
    21 Paid MATINO on account. 21 Paid MATINO on account.
    24 Collected 30% of the account of MATIKAS Inc. 24 Collected 30% of the account of MATIKAS Inc.
    25 Withdrawal made by the MATUTINA, P55,890. 25 Withdrawal made by the MATUTINA, P55,890.
    27 Purchased goods worth P190,800 in cash and sold the goods to a customer 27 Purchased goods worth P190,800 in cash and sold the goods to a customer
    in cash, P450,700. in cash, P450,700.
    Requirements: Requirements:
    Using Perpetual method, JOURNALIZE the following transactions. Using Perpetual method, JOURNALIZE the following transactions.
    Post it to their respective LEDGER. Post it to their respective LEDGER.
    Prepare a TRIAL BALANCE. Prepare a TRIAL BALANCE.

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