Scribd
Upload
13K views

(Solved) Periodic Problem Mr. Nikola Tesla Launched Tesla Supermart On... Course Hero (Solved) Periodic Problem Mr. Nik

Uploaded by

fanchasticomms
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
13K views

(Solved) Periodic Problem Mr. Nikola Tesla Launched Tesla Supermart On... Course Hero (Solved) Periodic Problem Mr. Nik

Uploaded by

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

Answer & Explanation

Solved by veriJed expert


Rated Helpful

Answered by lexregisrb

Date Account Debit Credit

December

1 Cash
150,000

Tesla, Capital
150,000

2 Equipment
20,000

Tesla, Capital
20,000

3 Supplies
12,600

Accounts Payable
12,600

4 Service Vehicle
100,000

Cash
25,000

Notes Payable
75,000

6 Purchases
50,000

Accounts Payable
50,000

8 Freight In
1,500

Cash
1,500

10 Accounts Receivable
45,000

Freight Out
900

Sales
45,000

Cash
900

13 Accounts Payable
7,500

Purchase Returns and


Allowances 7,500

15 Salaries Expense
15,000

Cash
15,000

16 Cash
30,000

Notes Payable
30,000

Sales Returns and


17
Allowances 4,500

Accounts Receivable
4,500

18 Accounts Payable
7,600

Cash
7,600

19 Purchases
90,000

Cash
90,000

*20 Cash
39,690

Sales discount
810

Accounts Receivable
40,500

**21 Accounts Payable


42,500

Cash
41,225

Purchase Discount
1,275

22 Cash
30,750

Sales
30,750

26 Cash
7,500

Notes Receivable
30,000

Sales
37,500

29 Telephone Expense
2,500

Cash
2,500

30 Rent Expense
7,500

Cash
7,500

30 Notes Payable
12,500

Cash
12,500

31 Salaries Expense
11,300

SSS Payable
380

Pag-IBIG Payable
100

Phihealth Payable
220

Cash
10,600

31 Depreciation Expense
300

Accumulated Depreciation - Equipment


300

31 Depreciation Expense
750

Accumulated Depreciation - Service


Vehicle 750

31 Supplies Expense
3,500

Supplies
3,500

Merchandise Inventory,
31
December 31 60,225

Purchase returns
7,500

Purchase discounts
1,275

Income summary
77,810

Purchases
140,000

Freight In
1,500

Sales Returns and


Allowances 4,500

Sales Discounts
810

Step-by-step explanation

*December 20

Accounts Receivable 45000

Less: Sales Returns and Allowances 4500

Net A/R 40500

Sales discount 810

Cash received from customers 39690

**December 21

Accounts Payable 50000

Less: Purchase Returns and Allowances 7500

Net A/P 42500

Less: Purchase Discount 1275

Cash paid to suppliers 41225

Image transcription text


B D E Date Account Debit Credit December 1 Cash 150,000
Tesla, Capital 150,000 2 Equipment 20,000 Tesla, Capital
20,000 3 Supplies 12,600 Accounts Payable 12,6... Show more

Image transcription text


B D E 33 34 16 Cash 30,000 35 Notes Payable 30,000 36 17
Sales Returns and Allowances 4,500 38 Accounts Receivable
4,500 18 Accounts Payable 7,600 Cash 7,600 42 ... Show more

Image transcription text


64 30 Rent Expense 7,500 65 Cash 7,500 66 67 30 Notes
Payable 12,500 68 Cash 12,500 69 70 31 Salaries Expense
11,300 71 55S Payable 380 72 Pag-IBIG Payable 1... Show more

Image transcription text


74 Cash 10,600 75 76 31 Depreciation Expense 300 77
Accumulated Depreciation - Equipment 300 78 79 31
Depreciation Expense 750 80 Accumulated Depr... Show more

Image transcription text


74 Cash =D70-E71-E72-E73 75 =D74 76 31 Depreciation
Expense =((20000-2000)/5)/12 77 Accumulated Depreciation
- Equipment =D76 78 =D77 79 31 Depreciation Ex... Show more

Note: If you have any clariWcations (i.e., expand the


explanation) or want diderent, expanded, or shorter
answers, please put them in the comment box below so I
may address them immediately. Thank you.

Comments (1)

Is this answer helpful?

Helpful Unhelpful •

You might also like