Scribd
Upload
258 views2 pages

Entrep Act 2

The document records various business transactions made by an entrepreneur throughout January. It shows purchases of machinery and inventory on credit as well as sales for cash. Interest was paid on a bank loan. The total sales amount for January was P64,000 and P5,000 of interest was paid. The balances of accounts payable, accounts receivable and machinery are requested.

Uploaded by

kaye anne
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
258 views2 pages

Entrep Act 2

The document records various business transactions made by an entrepreneur throughout January. It shows purchases of machinery and inventory on credit as well as sales for cash. Interest was paid on a bank loan. The total sales amount for January was P64,000 and P5,000 of interest was paid. The balances of accounts payable, accounts receivable and machinery are requested.

Uploaded by

kaye anne
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

ENTREP ACT 2 (BOOKKEEPING)

Jan 1 - Bought new machineries worth P80,000 in account


Jan 5 - Purchased P50,000 worth of computer parts inventory, paying P20,000 cash the
balance in account
Jan 9 - Paid P5,000 cash for interest from a bank loan
Jan 17 - Sold two machineries for a total of P9,000 in cash
Jan 19 - Sold P20,000 worth of computer parts for P35,000 in cash
Jan 25 - Purchased new machinery for P10,000 in account
Jan 29 - Sold P10,000 worth of computer parts for P20,000 in account

DATE DESCRIPTION DEBIT CREDIT


Jan 1 Bought new P80,000
machineries worth
P80,000 in account
Jan 5 Purchased P50,000 P50,000
worth of computer
parts inventory

Paying P20,000 cash P20,000


the balance in
account
Jan 9 Paid P5,000 cash for P5,000
interest from a bank
loan
Jan 17 Sold two machineries P9,000
for a total of P9,000
in cash
Jan 19 Sold P20,000 worth P35,000
of computer parts for
P35,000 in cash
Jan 25 Purchased new P10,000
machinery for
P10,000 in account
Jan 29 Sold P10,000 worth P20,000
of computer parts for
P20,000 in account

How much is the balance of her accounts payable?


How much is her total sales for January? P64,000
How much interest did she pay? P5,000
How much is the balance of her accounts receivable?
How much is the balance of her machinery account?

You might also like