The following transactions occurred in Nanon Company: a. Nanon, the owner, invested P50,000,000 and obtained P100,000,000 loan from a bank. b. The company purchased a manufacturing plant for business amounting to P125,000,000 for cash. c. It also purchased goods for sale on cash amounting to P250,000. d. There were sales of finished goods on credit amounting to P500,000. e. The company purchased goods for sale on credit amounting to P250,000. f. The company returned goods to the supplier amounting to P50,000 which was evidence by a credit memo from the supplier. g. Various accruals were recorded at the end of the period amounting to P30,000. From the above transactions, what is the total amount to be recorded in the Purchases Journal? P250,000 P450,000 P500,000 P125,500,000 From the above transactions, what is the total amount to be recorded in the Cash Disbursements Journal? P125,250,000 P125,500,000 P50,250,000 P50,500,000 From the above transactions, what is the total amount to be recorded in the Sales Journal? P500,000 P450,000 P550,000 P470,000
The following transactions occurred in Nanon Company:
a. Nanon, the owner, invested P50,000,000 and obtained P100,000,000 loan from a bank.
b. The company purchased a manufacturing plant for business amounting to P125,000,000 for cash.
c. It also purchased goods for sale on cash amounting to P250,000.
d. There were sales of finished goods on credit amounting to P500,000.
e. The company purchased goods for sale on credit amounting to P250,000.
f. The company returned goods to the supplier amounting to P50,000 which was evidence by a credit memo from the supplier.
g. Various accruals were recorded at the end of the period amounting to P30,000.
From the above transactions, what is the total amount to be recorded in the Purchases Journal?
P250,000
P450,000
P500,000
P125,500,000
From the above transactions, what is the total amount to be recorded in the Cash Disbursements Journal?
P125,250,000
P125,500,000
P50,250,000
P50,500,000
From the above transactions, what is the total amount to be recorded in the Sales Journal?
P500,000
P450,000
P550,000
P470,000
From the above transactions, what is the total amount to be recorded in the Cash Receipts Journal?
P150,300,000
P125,000,000
P150,250,000
P150,000,000
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
