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    To Recognize The Purchase of Bond Papers, and Inks For Consumption

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    maria ronora
    This document contains accounting entries recording purchases and issues of office supplies, equipment, and welfare goods by an organization between March 1, 2015 and March 30, 2015. Purchases totaling ₱729,700 were recorded through debits to inventory accounts and credits to accounts payable. These purchases included office supplies, machinery, equipment, forms, and welfare goods. Issues of supplies and equipment worth ₱374,918.10 were recorded through debits to expense accounts and credits to inventory accounts to recognize items distributed for use.

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    To Recognize The Purchase of Bond Papers, and Inks For Consumption

    Uploaded by

    maria ronora
    22 views2 pages
    This document contains accounting entries recording purchases and issues of office supplies, equipment, and welfare goods by an organization between March 1, 2015 and March 30, 2015. Purchases totaling ₱729,700 were recorded through debits to inventory accounts and credits to accounts payable. These purchases included office supplies, machinery, equipment, forms, and welfare goods. Issues of supplies and equipment worth ₱374,918.10 were recorded through debits to expense accounts and credits to inventory accounts to recognize items distributed for use.

    Original Description:

    Inventories-2 (Updated)

    Original Title

    Inventories-2 (Updated)

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    This document contains accounting entries recording purchases and issues of office supplies, equipment, and welfare goods by an organization between March 1, 2015 and March 30, 2015. Purchases totaling ₱729,700 were recorded through debits to inventory accounts and credits to accounts payable. These purchases included office supplies, machinery, equipment, forms, and welfare goods. Issues of supplies and equipment worth ₱374,918.10 were recorded through debits to expense accounts and credits to inventory accounts to recognize items distributed for use.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    22 views2 pages

    To Recognize The Purchase of Bond Papers, and Inks For Consumption

    Uploaded by

    maria ronora
    This document contains accounting entries recording purchases and issues of office supplies, equipment, and welfare goods by an organization between March 1, 2015 and March 30, 2015. Purchases totaling ₱729,700 were recorded through debits to inventory accounts and credits to accounts payable. These purchases included office supplies, machinery, equipment, forms, and welfare goods. Issues of supplies and equipment worth ₱374,918.10 were recorded through debits to expense accounts and credits to inventory accounts to recognize items distributed for use.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    Purchases on Account

    Account
    Date Particulars Debit Credit
    Code
    03/01/201
    Office Supplies Inventory 10404010 ₱253,500.00
    5  
      Accounts Payable 20101010   ₱253,500.00
      To recognize the purchase of bond papers, and      
      inks for consumption      
    3/20/2015 Office Supplies Inventory 10404010 ₱31,200.00  
      Semi-Expendable Machinery 10405010 ₱109,000.00  
      Semi-Expendable Office Equipment 10405020 ₱205,000.00  
      Accounts Payable 20101010   ₱345,200.00
      To recognize purchase of desktops, air    
      conditioning units, laptops, inks, and printers      
    3/25/2015 Accountable Forms, Plates and Stickers Inventory 10404020 ₱10,000.00  
      Accounts Payable 20101010   ₱10,000.00
      To recognize purchase of official receipts      
    3/30/2015 Non-Accountable Forms Inventory 10404030 ₱600.00  
      Accounts Payable 20101010   ₱600.00
      To recognize purchase of printed application forms      

    3/30/2015 Welfare Goods for Distribution 10402020 ₱20,000.00  


      Accounts Payable 20101010   ₱20,000.00
    To recognize purchase of canned goods, blankets, mats, kitchen
      utensils, flashlights, and others      

    ISSUE
    Account
    Date Particulars Debit Credit
    Code
    03/11/201
    5 Office Supplies Expenses 50203010 ₱82,000.00  
      Office Supplies Inventory 10404010   ₱82,000.00
      To recognize issue consumption of office supplies      
    3/30/2015 Semi-Expendable Machinery and Equipment Expenses 50203210 ₱242,318.10  
      Semi-Expendable Machinery 10405010   ₱109,818.10
      Semi-Expendable Office Equipment 10405020   ₱132,500.00
      To recognize the issue of semi-expendable machinery and office      
      equipment to end-users      
    3/30/2015 Accountable Forms Expenses 50203020 ₱10,000.00  
      Accountable Forms, Plates and Stickers Inventory 10404020   ₱10,000.00
      To recognize the issuance of official receipts      
    3/30/2015 Non-Accountable Forms Expenses 50203030 ₱600.00  
      Non-Accountable Forms Inventory 10404030   ₱600.00
      To recognize the issuance printed application forms      
    3/30/2015 Welfare Goods Expenses 50203060 ₱40,000.00  
      Welfare Goods for Distribution 10402020   ₱40,000.00
    To recognize the issuance canned goods, blankets, mats, kitchen utensils,
      flashlights, and others      

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