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Sales Sales returns Sales discount P739,000 P45,000 16,000 65,000 180,000 10,000 Inventory, beg. Purchases Freight in Purchase discounts Purchase returns Salaries expense Rent expense Depreciation expense Utilities expense Insurance expense Delivery expense Taxes and Licenses dditional information: 5,000 9,000 240,000 30,000 50,000 25,000 10,000 30,000 60,000 a. Ending inventory is P90,000 b. % of the salaries, rent, and depreciation pertair to administrative department. department does not share in the other The sales eyr ses

Sales Sales returns Sales discount P739,000 P45,000 16,000 65,000 180,000 10,000 Inventory, beg. Purchases Freight in Purchase discounts Purchase returns Salaries expense Rent expense Depreciation expense Utilities expense Insurance expense Delivery expense Taxes and Licenses dditional information: 5,000 9,000 240,000 30,000 50,000 25,000 10,000 30,000 60,000 a. Ending inventory is P90,000 b. % of the salaries, rent, and depreciation pertair to administrative department. department does not share in the other The sales eyr ses

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Accounts Debit Credit P739,000 Sales Sales returns Sales discount P45,000 16,000 65,000 180,000 10,000 Inventory, beg. Purchases Freight in Purchase discounts Purchase returns Salaries expense Rent expense Depreciation expense Utilities expense 5,000 9,000 240,000 30,000 50,000 25,000 10,000 30,000 60,000 Insurance expense Delivery expense Taxes and Licenses Additional information: a. Ending inventory is P90,000 b. 4 of the salaries, rent, and depreciation pertain to administrative department. department does not share in the other The sales expenses.
Transcribed Image Text:Accounts Debit Credit P739,000 Sales Sales returns Sales discount P45,000 16,000 65,000 180,000 10,000 Inventory, beg. Purchases Freight in Purchase discounts Purchase returns Salaries expense Rent expense Depreciation expense Utilities expense 5,000 9,000 240,000 30,000 50,000 25,000 10,000 30,000 60,000 Insurance expense Delivery expense Taxes and Licenses Additional information: a. Ending inventory is P90,000 b. 4 of the salaries, rent, and depreciation pertain to administrative department. department does not share in the other The sales expenses.
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