SOAL PBL (3)

1. PT. FASHIONIC SEJAHTERA uses a perpetual inventory system. The credit sales terms used
are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price.

GENERAL LEDGER
Account 30 November 2023
Account Title
Number Opening balance
Dr Cr
101 Cash $33,750
112 Accounts receivable 13,000
115 Notes Receivable 39,000
120 Inventory 20,000
126 Supplies 1,000
130 Prepaid Insurance 3,600
157 Equipment 6,450
158 Accumulated Depreciation-Equipment $1,500
201 Accounts payable 35,000
301 Owner’s capital 80,300

Accounts Receivable Accounts Payable Subsidiary

Subsidiary Ledger Ledger
Customer Opening Kode Creditor Opening Kode
Balance Balance
Amanda $1,500 C01 Style Craft $9,000 S01
smith fashion house
Clamby 7,500 C02 Genuineorlin.ofc 15,000 S02
officiall
Margareth 4,000 C03 Zara fushion inc 11,000 S03
a

During its period, following transactions are happen:

Jan 3 Sell merchandise on account to Corpas $3,100, invoice no. 510 and to
Revere $1,800, invoice no.511
5 Purchase merchandise from Style craft fashion house $3,000 and Posey
$2,700, terms n/30
7 Receive checks from Mahay $4,000 and Santos $2,000 after the discount
period ends.
8 Pay freight on merchandise purchased $180
9 Send checks to Meek for accounts payable $9,000 less 2% cash discount,
and to Saito for accounts payable $11,000 less 1% cash discount
9 Issue credit of $300 to Revere for merchandise returned
10 Daily cash sales from January 1 to January 10 total $15,500
11 Sell merchandise on account to Beltre $1,900, invoice no. 512, and to
Mahay $900, invoice no. 513.
12 Pay rent of $1,000 for January.
13 Receive payment in full from Corpas and Revere less cash discounts.
 15 Withdraw $800 cash by Jeter for personal use.
16 Purchase merchandise from Saito $15,000, terms 1/10, n/30; Meek
$13,900, terms 2/10, n/30; and Gamel $1,500, terms n/30.
17 Pay $400 cash for office supplies.
18 Return $200 of merchandise to Meek and receive credit.
20 Daily cash sales from January 11 to January 20 total $17,500.
21 Issue $15,000 note to Cord in payment of balance due
21 Receive payment in full from Mahay less cash discount.
22 Sell merchandise on account to Corpas $3,700, invoice no. 514, and to
Beltre $800, invoice no. 515.
23 Send checks to Saito and Meek for full payment less cash discounts.
25 Sell merchandise on account to Santos $3,500, invoice no. 516, and to
Revere $6,100, invoice no. 517
27 Purchase merchandise from Saito $12,500, terms 1/10, n/30; Posey
$1,200, terms n/30; and Gamel $2,800, terms n/30
28 Pay $200 cash for office supplies
31 Summary cash sales total $22,920
31 Pay sales salaries $4,300 and office salaries of $3,600

Adjustment Informations:
 Office supplies on January 31 total $800
 Insurance coverage expires on December 31, 2020
 Annual depreciation on the equipment is $1,200
 Interest of $60 has accrued on the note payable.
 Inventory at January 31 is $15,000

Required:

1. Record the January transactions in a sales journal, a purchases journal, a cash receipts journal, a
cash payments journal, and a general journal.
2. Post the journals to the general ledger
3. Prepare a trial balance on January 31, 2020, in the trial balance columns of the worksheet and
complete the worksheet using adjustment information’s above.
4. Prepare a multiple-step income statement and an owner’s equity statement for January and a
classified balance sheet at the end of January.
5. Prepare and post adjusting and closing entries
6. Prepare a post-closing trial balance, and determine whether the subsidiary ledgers agree with the
control accounts in the general ledger