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    Cho Cho's - Saray

    Uploaded by

    Laiza Cristella Saray
    1) The document records various journal entries for Cho Cho's Pro Shop between April 5-30. It records purchases, sales, returns, payments and other transactions. 2) A trial balance is provided that lists account balances as of April 30, 2008, with total debits equal to total credits. 3) Key figures from the trial balance include cash of ₱107,949.44, accounts receivable of ₱29,060, and merchandise inventory of ₱300,500. Purchases totaled ₱226,600 while sales were ₱106,000.

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    © All Rights Reserved
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    Cho Cho's - Saray

    Uploaded by

    Laiza Cristella Saray
    51 views6 pages
    1) The document records various journal entries for Cho Cho's Pro Shop between April 5-30. It records purchases, sales, returns, payments and other transactions. 2) A trial balance is provided that lists account balances as of April 30, 2008, with total debits equal to total credits. 3) Key figures from the trial balance include cash of ₱107,949.44, accounts receivable of ₱29,060, and merchandise inventory of ₱300,500. Purchases totaled ₱226,600 while sales were ₱106,000.

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    CHO CHO'S - SARAY

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    1) The document records various journal entries for Cho Cho's Pro Shop between April 5-30. It records purchases, sales, returns, payments and other transactions. 2) A trial balance is provided that lists account balances as of April 30, 2008, with total debits equal to total credits. 3) Key figures from the trial balance include cash of ₱107,949.44, accounts receivable of ₱29,060, and merchandise inventory of ₱300,500. Purchases totaled ₱226,600 while sales were ₱106,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    51 views6 pages

    Cho Cho's - Saray

    Uploaded by

    Laiza Cristella Saray
    1) The document records various journal entries for Cho Cho's Pro Shop between April 5-30. It records purchases, sales, returns, payments and other transactions. 2) A trial balance is provided that lists account balances as of April 30, 2008, with total debits equal to total credits. 3) Key figures from the trial balance include cash of ₱107,949.44, accounts receivable of ₱29,060, and merchandise inventory of ₱300,500. Purchases totaled ₱226,600 while sales were ₱106,000.

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    Cho Cho's Pro Shop

    GENERAL JOURNAL
    Date Particulars P.R Debit Credit
    April 5 Purchases P 160,600
    Input tax 19,272
    Accounts Payable P179,872
    To record purchases on credit

    7 Freight In 8,000
    Cash 8,000
    To record freight paid

    9 Accounts Payable 22,400


    Purchase Returns and Allowances 20,000
    Input Tax 2,400
    To record merchandise returned

    10 Accounts Receivable 10,080


    Sales 9,000
    Output Tax 1,080
    To record sales on credit

    11 Purchases 66,000
    Input Tax 7,920
    Accounts Payable 73,920
    To record purchases on credit

    14 Accounts Payable 157,472


    Cash 154,322.56
    Purchase Discounts 2,812
    Input Tax 337.44
    To record payment on account

    16 Accounts Payable 6,720


    Purchase Returns and Allowances 6,000
    Input Tax 720
    To record merchandise returned

    20 Accounts Receivable 41,440


    Sales 37,000
    Output Tax 4,440
    To record sales on credit

    21 Accounts Payable 67,800


    Cash 60,000
    Purchase Discount 600
    Input Tax 72
    To record cash received

    27 Sales Returns and Allowances 3,000


    Output tax 360
    Accounts Receivable 3,360
    To record sales returned

    30 Cash 67,200
    Sales 60,000
    Output Tax 7,200
    To record cash sales

    30 Cash 19,100
    Accounts Receivable 19,100
    To record cash received
    101 Cash 112 Accounts Receivable
    beg. ₱ 250,500.00 ₱ 8,000.00 ₱ 10,080.00
    67,200 154,322.56 41,440
    19,100 66,528 51,520
    336,800 228,850.56 ₱ 29,060.00
    ₱ 107,949.44

    301 C. Ramos Capital 401 Sales


    ₱ 551,000.00

    512 Purchase Returns & Allowances 514 Purchase Discounts


    ₱ 20,000.00 9
    6,000
    ₱ 26,000.00

    Output Tax Input Tax


    ₱ 360.00 ₱ 1,080.00 10 ₱ 23,662.56
    4,440 ₱ 11,302.56
    7,200
    360 12,720
    ₱ 12,360.00
    Accounts Receivable 120 Merchandise Inventory
    ₱ 3,360.00 beg. ₱ 300,500.00 9
    19,100
    22,460

    Sales 412 Sales Returns & Allowances


    ₱ 9,000.00 beg. ₱ 3,000.00 5
    37,000 10 11
    60,000
    ₱ 106,000.00

    Purchase Discounts 516 Freight-In


    ₱ 2,812.00 9 7 ₱ 8,000.00 5
    600
    ₱ 3,412.00

    Input Tax
    ₱ 12,360.00
    201 Accounts Payable
    ₱ 22,400.00 ₱ 179,872.00 5
    157,472 73,920 11
    6,720
    67,200
    253,792 253,792
    ₱ -

    501 Purchases
    ₱ 160,600.00
    66,000
    ₱ 226,600.00

    Input Tax
    ₱ 19,272.00 ₱ 2,400.00 9
    7,920 337.44 11
    720
    72
    27,192 3,529.44
    ₱ 23,662.56
    Cho Cho's Pro Shop
    Trial Balance
    As of April 30, 2008

    Account Titles Debit Credit


    Cash ₱ 107,949.44
    Accounts Receivable 29,060
    Merchandise Inventory 300,500
    Input Tax 11,302.56
    Accounts Payable ₱ -
    C. Ramos Capital 551,000
    Sales 106,000
    Sales Returns & Allowances 3,000
    Purchases 226,600
    Purchase Returns & Allowances 26,000
    Purchase Discounts 3,412
    Freight-In 8,000
    TOTAL ₱ 686,412.00 ₱ 686,412.00

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