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  • AJC - FABM 10.5pt

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    Ashley Jean Cosmiano
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    The document shows accounting transactions for Creamy Merchandising's periodic inventory system between April 1-30. It records purchases of inventory on credit and cash, sales of inventory for cash and credit, returns and allowances, payment of accounts payable, and operating expenses like salaries and supplies. The debits and credits are balanced, indicating all transactions have been properly recorded under the periodic inventory system for the month.

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    AJC.FABM 10.5pt

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    The document shows accounting transactions for Creamy Merchandising's periodic inventory system between April 1-30. It records purchases of inventory on credit and cash, sales of inventory for cash and credit, returns and allowances, payment of accounts payable, and operating expenses like salaries and supplies. The debits and credits are balanced, indicating all transactions have been properly recorded under the periodic inventory system for the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    12 views4 pages

    AJC - FABM 10.5pt

    Uploaded by

    Ashley Jean Cosmiano
    The document shows accounting transactions for Creamy Merchandising's periodic inventory system between April 1-30. It records purchases of inventory on credit and cash, sales of inventory for cash and credit, returns and allowances, payment of accounts payable, and operating expenses like salaries and supplies. The debits and credits are balanced, indicating all transactions have been properly recorded under the periodic inventory system for the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 4

    CREAMY MERCHANDISING

    PERIODIC INVENTORY SYSTEM

    Date Account Title Debit Credit


    Apr-01 Purchases ₱ 140,000.00
    Cash ₱ 40,000.00
    Accounts Payable 100,000

    Apr-03 Accounts Receivable 60,000


    Sales 60,000

    Freight Out 1,500


    Cash 1,500

    Apr-04 Cash 2,500


    Purchases Returns and Allowances 2,500

    Apr-06 Sales Returns and Allowances 2,000


    Accounts Receivable 2,000

    Apr-07 Supplies Expense 3,000


    Accounts Payable 3,000

    Apr-08 Accounts Payable 2,000


    Purchase Returns and Allowances 2,000

    Apr-11 Accounts Payable 93,590


    Cash 93,590

    Apr-12 Cash 56,840


    Sales Discounts 1,160
    Accounts Receivable 58,000

    Apr-15 Salaries Expense 5,000


    Cash 5,000

    Apr-16 Purchases 60,000


    Accounts Payable 60,000

    Apr-20 Accountsa Receivable 30,000


    Sales 30,000

    Apr-26 Accounts Payable 2,000


    Purchases Returns And Allowances 2,000
    Apr-30 Accounts Receivable 2,000
    Purchases Returns And Allowances 2,000

    Apr-30 Salaries Expense 15,000


    Cash 15,000
    ₱ 476,590.00 ₱ 476,590.00
    CREAMY MERCHANDISING
    PERPETUAL INVENTORY SYSTEM

    Date Account Title Debit Credit


    Apr-01 Merchandise Inventory ₱ 140,000.00
    Cash ₱ 40,000.00
    Accounts Payable 100,000

    Apr-03 Accounts Receivable 60,000


    Sales 60,000

    Cost Of Sales 45,000


    Merchandise Inventory 45,000

    Freight Out 1,500


    Cash 1,500

    Apr-04 Cash 2,500


    Merchandise Inventory 2,500

    Apr-06 Sales Returns and Allowances 2,000


    Accounts Receivable 2,000

    Apr-07 Supplies Expense 3,000


    Accounts Payable 3,000

    Apr-08 Accounts Payable 2,000


    Merchnadise Inventory 2,000

    Apr-11 Accounts Payable 93,590


    Cash 93,590

    Apr-12 Cash 56,840


    Sales Discounts 1,160
    Accounts Receivable 58,000

    Apr-15 Salaries Expense 5,000


    Cash 5,000

    Apr-16 Merchandise Inventory 60,000


    Accounts Payable 60,000

    Apr-20 Accounts Receivable 30,000


    Sles 30,000
    Cost of Sales 22,500
    Merchandise Inventory 22,500

    Apr-26 Accounts Payable 2,000


    Merchandise Inventory 2,000

    Apr-30 Sales Returns and Allowances 2,000


    Accounts Receivable 2,000

    Merchandise Inventory 1,500


    Cost Of Sales 1,500

    Apr-30 Salaries Expense 15,000


    15,000
    545,590 ₱ 545,590.00

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