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    Act 30-34

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    ジェフ ァーソン
    The document records various journal entries for purchases, sales, returns, and payments by a pharmacy company. It records purchases of medicines and products from a supplier on credit and later payment to the supplier. It also records sales to customers, both for cash and on credit, as well as returns and payments received.

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    Act 30-34

    Uploaded by

    ジェフ ァーソン
    15 views5 pages
    The document records various journal entries for purchases, sales, returns, and payments by a pharmacy company. It records purchases of medicines and products from a supplier on credit and later payment to the supplier. It also records sales to customers, both for cash and on credit, as well as returns and payments received.

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    ACT 30-34.docx

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    The document records various journal entries for purchases, sales, returns, and payments by a pharmacy company. It records purchases of medicines and products from a supplier on credit and later payment to the supplier. It also records sales to customers, both for cash and on credit, as well as returns and payments received.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    15 views5 pages

    Act 30-34

    Uploaded by

    ジェフ ァーソン
    The document records various journal entries for purchases, sales, returns, and payments by a pharmacy company. It records purchases of medicines and products from a supplier on credit and later payment to the supplier. It also records sales to customers, both for cash and on credit, as well as returns and payments received.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    GENERAL PHARMACY 04.

    07 To record purchased MDSE


    Periodic Purchases 60,000
    Case 1 Cash 60,000
    04-04-20 To record purchased
    medicines and other related products to
    04-09 To record sold MDSE on credit to
    Ipil-ipil Pharmaceutical Company on
    Laguna Company
    credit
    A/R 72,000
    Purchase 120,000
    Sales 72,000
    Freight In 2,500
    04-10 To record paid purchased
    A/P 120,000
    medicines and other related products to
    Cash 2,500 Ipil-ipil Pharmaceutical Company
    04-04 To record payment of freight A/P 116,400
    A/P 10,000 Cash 116,400
    Freight In 1,200 04-12 To record received returned.
    Purchased Return and Allowance Cash 5,000
    10,000
    Purchased Return and Allowance
    Cash 1,200 5,000
    04-13-20 To record received full
    payment from Laguna Corporation
    04-05 To record sold MDSE to various
    customer Cash 71, 280
    Cash 36,000 A/R 71, 280
    Sales 36,000

    04-06 To record returned defective


    MDSE
    Accounts Payable 10,000
    Freight In 1,200
    Purchase R&A 10,000
    Cash 1,200
    Case 2
    04.02.20
    Purchases 450,000
    A/P 450,000 Activity 31

    Freight Out 6,500 Journal Entries

    Cash 6,500 09-01-20

    Accounts Payable 10,000 Cash 100,500

    Purchased R&A 10,000 Office Equipment 33,200

    04.12.20 Bonita, Capital 150,500

    A/P 44,100 09-02

    Sales Discount 900 Purchases 20,000

    Cash 450,000 Cash 20,000

    09-03

    Cash 10,600
    Case 3
    Sales 10,600
    Accounts Receivable 450,000
    09-06
    Sales 450,000
    Purchases 26,500
    Freight In 6,500
    Cash 13,250
    Cash 6,500
    Accounts Payable 13,250
    Sales R&A 10,000
    09-07
    Accounts Payable 10,000
    Accounts Receivable 12,500
    04.12.20
    Sales 12,500
    Cash 450,000
    09-08
    Sales Discount
    Purchase 6,000
    Accounts Receivable 45,100
    Cash 3,000
    Sales Discount 900
    Accounts Payable 3,000
    Accounts Receivable 14,000

    09-09

    Accounts Receivable 14,000 09-25

    Sales 14,000 Rent Expense 5,000

    Freight In 800 Withholding taxes Payable 250

    Cash 800 Cash 4,750

    09-12 09-30

    Purchase 4,000 Salaries Expense 8,000

    A/P 4,000 SSS Payable 200

    09-14 PHIC Payable 100

    Cash 6,350 HDMF Payable 100

    Sales 6,350 Cash 7,600

    09-15

    Salaries Expense 8,000 T- Account

    Cash 8,000

    09-16 Trial Balance

    Accounts Payable 3,000 Sept. 31, 2020

    Purchased Discount 30

    Cash 2,970

    09-17

    Cash 12,250

    Sales Discount 250

    A/R 12,500

    09-22

    A/P 4,000

    Cash 4,000

    09-24

    Cash 13,720

    Sales Discount 280


    Activity 33

    Case 1.

    Case 1.a - Allowance for Doubtful Account 22,000 + 18,000 = 40,000

    Case 1.b - Doubtful Account Expense 18,000

    Case 1.c - Doubtful Account Expense 18,000

    Allowance for Doubtful Account 18,000

    Case 2

    Case 2.a – Prepaid Insurance 36,000 + 4,500 = 40,500

    Case 2.b – Insurance Expense 4,500

    Case 2.c – Net Profit will be understated

    Case 2.d – Insurance Expense 4,500

    Prepaid Insurance 4.500

    Case 3

    Case 3.a – Accumulated Depreciation – Equipment 150,000 + 30,000 = 180,000

    Case 3.b – Depreciation Expense 30,000

    Case 3.c – Depreciation Expense – Equipment 30,000

    Accumulated Depreciation – Equipment 30,000

    Case 3.d – Net Profit will not be affected


    Case 4

    Cost of Sales

    Merchandise Inventory, Beginning - 220,000

    Add: Net Purchase – 950,000

    Freight In - 22,000

    Goods Available for Sale – 1,192,000

    Less: MDSE Inventory, Ending – (230,000)

    Cost of Sales – 962,000

    Case 4.a – Cost of goods available for sale - 1,192,000

    Case 4.b – Cost of Sales – 962,000

    Case 4.c – Both Beginning and Ending will be deducted to the Net Profit of the company

    Case 5

    Case 5.a – Supplies 40,000

    Supplies Expense 40,000

    Case 5.b – Asset will be overstated

    Case 5.c – Supplies – 20,000

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