BOOKKEEPING 101 Problem 1 Wilma’s Laundry Transactions for the month of March, 2025 1 Wima invested the following for a laundry shop: Cash 300,000 Washing Equipment 50,000 Furniture 20,000 Detergent and other supplies 5,000 2 Paid é months advance rent, 60,000 3 Renovated the shop for 10,000 4 Paid for advertising, 1,000 5 Bought laundry equipment from ABC merchandise for 30,000 on account 6 Bought loundry supplies 2.000 on cash, 3,000 on credit, 7 Applied for @ loan, 200,000 and bought a delivery van for 180,000. 8 Pod $0% of account from ABC merchan 9 Laundty Revenue for 200,000 10 Laundry Revenue on occount 10,009 1 Paid electicity and water bil for 5,000 12 Poid repairs for 2.000 13 Collected allrevenue on account 14 Received a promissory note for service rendered worth 80,000 15. Poid the balance of ABC merchandise 20 Paid saleres for 20,000 21. Poid $0,000 for the bank loan 22 Purchased an Insurance for 20,000Problem 1 Cont. 23 Wima withdrew 20,000 30 Laundry Revenue for 50,000 cash and 20,000 on account Required: 1. Joutnalize the activities of Wiima's Launcry 2. Post your jgqgnol gpiries 3. Extract a tr f March 31, 2019, BOOKKEEPING 101,Problem 2 BOOKKEEPING 102 Stephanie Merchandise Transactions for the month of March, 2019 (Periodic Inventory System) 1 u u Stephanie began a merchandising business in Baguio Cily on March 1, 2019 with the following investments: Cosh 500,000 Delivery truck 200,000 Store equipment 60,000 Office equipment 20,000 Furniture 50,000 Purchased inventory Amounting to 300,000 Paid P15,000 for the inauguration of the store. Paid Toxes and licenses for P575 Paid store rent for the month for 30,000 Paid advertising expense of 2,500 Sold merchandise 12,000 in cash and 15,000 on account fo Genelyn Store, Received returned merchandise from the cash soles yesterday, 500: cash refund was mace. Sold 30,000 worth of merchandise to Erika Enterprise. Paid for freight for the merchandise sold to Erika Enterprises, 400; FOB Destination, Freight Prepaid Purchased inventories from Joline Company for 20,000, paid in cash. Retuined defective merchandise to Jona Company worth 1,000, Purchased inventories on account from Marilou Trading worth 28,000, Cosh sales of 35,000 Bought office supplies, 120 Collected the account of Geneiyn store. Purchase merchandise from Sarah Manufacturers List Price, P50,000, 20, 5, n/30 Cosh Sates, 28,000Problem 2 Cont. Required: 1. Journalize the activities of Stephanie Merchandise for the month of March using periodic inventory system, (The charts of accounts being used by the bi Asset Cosh Accounts Receivable ‘Advances-Employees Delivery Truck Store Equipment Office Equipment Furniture Liabilities ‘Accounts Payable Income Tax Payable S85 Payable Phihealth Payable HOME Payable Equity Stephanie Capital Stephanie, Drawing Sales Sales Retuins Cost of Sales Purchases Purchase Returns Expenses Office Supplies Expense Inauguration Expense Solories Expense Taxes and Licenses Insurance Expense Rent Expense ‘Advertising Expense Freight Out Premiums Expense: Uitities Expense ‘BOOKKEEPING 201, 1655's presented below.) 2. Post your joumal entries 3, Extract @ tial balance as of March 31, 2019Problem 2 Cont. 15 6 a ‘BOOKKEEPING 101, Paid the salaries of workers ond administrative stats: Total salaries 15,000 Deductions: Income taxes withheld (2000) Net cash paid 13,000 Took an insurance policy covering the merchandise of the trading fim Insurance premium paid for the policy, P15,000 Purchased merchandise of 70,000 paid in cash Paid Marilou Tracing Sold Merchandise amounting fo 35,000. Paid Sarah Manufacturers. Cosh Sales of 20,000 Soles on account: ABC Enterprises, 25.000, 2/10, n/30 XYZ Importers, §,000, 0/30. Cosh advances made by office personnel, P1000. Paid electric bil, P1,300 Paid telephone bils, PSO Paid water bills, P400 Solories of workers and personnel: Total Soiaries 15.000 Deductions: Income taxes withheld from salaries (1.620) ‘885 premium withheld form salaries (1,000) Phiheatth withheld (375) Pag-ibig (200) Advances (1009) Net cash paid 10.805 Set up SSS employer's share, P1,870, Phithecith ~ P375, Pag ibig- 200 Stephanie withdrawn 10,000 from the business.Problem 3 BOOKKEEPING 302 Stephanie Merchandise Transactions for the month of March, 2019 (Perpetual Inventory System) 1 Stephanie began a merchandising business in Baguio City on March 1, 2019 with the following investments: Cosh 500,000 Delivery truck 200,000 Store equipment 60,000 Office equipment 20,000 Furiture 50,000 Purchased inventory Amounting to 300,000 Paid P15,000 for the inauguration of the store. Paid Taxes and licenses for P575 Paid store rent for the month for 30,000 Paid advertising expense of 2,500 Sold merchandise 12,000 in cash (costing 10,000] and 15,000 on account {costing 15,000] to Genelyn Store. Received returned merchandise from the cash soles yesterday, 500; cash refund was made, (cost 300) Sold 30,000 worth of merchandise to Erika Enterprise. [cost 25,000) Paid for freight for the merchandise sold to Erika Enterprises, 400; FOB Destination, Freight Prepaid Purchased inventories trom Jolina Company for 20,000, paid in cash. Retumed defective merchanaise to Jolina Company worth 1,000, Purchased inventories on account from Marilou Trading worth 28,000 Cosh sales of 35,000 (cost 28,009} Bought office supplies, 120 Collected the account of Geneiyn store. Purchase merchandise from Sarah Manufacturers, List Price, P50,000, 20, 5, n/30 (Cosh Sates, 28,000 (cost 25,000)Problem 3 Cont. sooKKeePN 01 5 6 24 2% a 31 Paid the salaties of workers and administrative stoffs: Total salaries 15,000 Deductions: Income taxes withheld (2000) Net cash paid 13,000 Took an insurance policy covering the merchandise of the tracing fim Insurance premium paid for the policy, P15,000 Purchased merchandise of 70,000 paid in cash Paid Marilou Tracing Sold Merchandise amounting to 35,000. (cost 29,000) Paid Sarah Manufacturers, Cosh Sates of 20,000 (cost 1,000} Soles on account: ‘ABC Enterprises, 25.000, 2/10, n/30 (cost 20,000) XYZ Imporlers, 5,000, n/30. (cost 4500) Cosh advances made by office personnel, P1000. Poid electric bil, 1,300 Paid telephone bils, P00 Paid water bills, P40 Solories of workers and personnel: Total Salaries 15,000 Deductions: Income taxes withheld from salaries (1,620) ‘885 premium withheld form salaries (1,000) Phihealth withheld (375) Pog:ibig (200) ‘Advances (1009) Net cash paid 10.805 Set up $8S employer's share, P1,870, Phihealth ~ P375, Pag-ibig- 200 Stephanie withdrawn 10,000 from the business.Problem 3 Cont Requited: 1. Journalze the activities of Stephanie Merchandise for the month of March using perpetual inventory system. (The charts of accounts being used by the business is presented below.) Asset Cosh ‘Accounts Receivable ‘Advances-Employees Merchandise Inventory Delivery Truck Store Equipment Office Equipment Furniture Liabilities ‘Accounts Payable Income Tax Payable 585 Payable Philhealth Poyoble HDMF Payabie Equity Stephonie Copital Stephanie, Drawing Revenve Sales Sales Retuns Cost of Goods Sold, Expenses Office Supplies Expense Inauguration Expense Salaries Expense Taxes and Licenses Insurance Expense Rent Expense ‘Advertsing Expense Freight Out Premiums Expense: Utilities Expense ‘BOOKKEEPING 201, 2. Post your joumal entries 3, Extract o tial balance as of March 31, 2019