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    Vertudez

    Uploaded by

    ralph yap
    This document records transactions from August 1-31 for a business owned by Mr. Vertudez. It records an initial investment of $2,650,320, purchases of supplies, equipment and inventory, sales of goods both for cash and on account, payments made to suppliers and for expenses, and additional cash investments and withdrawals by the owner.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Vertudez

    Uploaded by

    ralph yap
    58 views4 pages
    This document records transactions from August 1-31 for a business owned by Mr. Vertudez. It records an initial investment of $2,650,320, purchases of supplies, equipment and inventory, sales of goods both for cash and on account, payments made to suppliers and for expenses, and additional cash investments and withdrawals by the owner.

    Original Title

    Vertudez - Copy

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    © © All Rights Reserved

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    This document records transactions from August 1-31 for a business owned by Mr. Vertudez. It records an initial investment of $2,650,320, purchases of supplies, equipment and inventory, sales of goods both for cash and on account, payments made to suppliers and for expenses, and additional cash investments and withdrawals by the owner.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    58 views4 pages

    Vertudez

    Uploaded by

    ralph yap
    This document records transactions from August 1-31 for a business owned by Mr. Vertudez. It records an initial investment of $2,650,320, purchases of supplies, equipment and inventory, sales of goods both for cash and on account, payments made to suppliers and for expenses, and additional cash investments and withdrawals by the owner.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 4

    Date

    Aug 1 Cash 2,650,320.00


    Vertudez, Capital 2,650,320.00
    To record initial investment of Mr. Vertudez

    4 Prepaid Insurance 60,000.00


    Cash 60,000.00
    To record prepayment of insurance

    Taxes and Licenses 15,650.00


    Cash 15,650.00
    To record payment of business permits for the business

    5 Store Equipment 65,000.00


    Cash 65,000.00
    To record acquisition of store equipment

    Store Supplies 21,500.00


    Cash 21,500.00
    To record store supplies purchased

    6 Furniture & Fixtures 25,700.00


    Accounts Payable 25,700.00
    To record acquisition of furniture on account

    8 Purchases 70,000.00
    Cash 70,000.00
    To record cash purchases

    9 Purchases 120,000.00
    Accounts Payable 120,000.00
    To record purchases on account

    Accounts Receivable 85,000.00


    Sales 85,000.00
    To record sales on account

    11 Cash 73,000.00
    Freight out 2,000.00
    Sales 75,000.00
    To record cash sales and payment of freight
    12 Accounts Payable 120,000.00
    Cash 114,000.00
    Purchase Discount 6,000.00
    To record settlement of account and cash discount

    15 Salaries Expense 45,000.00


    Cash 45,000.00
    To record payment of salaries to store personnel

    Accounts Receivable 90,000.00


    Sales 90,000.00
    To record sales on account

    16 Freight out 1,700.00


    Cash 1,700.00
    To record delivery expense on Aug 15 sale transaction

    17 Purchases 130,000.00
    Freight In 2,400.00
    Accounts Payable 130,000.00
    Cash 2,400.00
    To record purchases on account and payment of freight

    19 Sales Returns and Allowances 10,000.00


    Accounts Receivable 10,000.00
    To record received merchandise from customer due to defects

    20 Accounts Payable 15,000.00


    Purchase Returns and Allowances 15,000.00
    To record returned merchandise to supplier

    21 Cash 80,000.00
    Accounts Receivable 80,000.00
    To record collection of customers account

    22 Accounts Payable 115,000.00


    Cash 109,250.00
    Purchase Discount 5,750.00
    To record settlement of account and cash discount

    27 Light and Water 5,650.00


    Cash 5,650.00
    To record payment of electricity
    28 Vertudez, Drawing 35,000.00
    Cash 35,000.00
    To record withdrawal of owner

    Cash 72,400.00
    Freight out 2,600.00
    Sales 75,000.00
    To record cash sales and payment of freight

    30 Salaries Expense 45,000.00


    Cash 45,000.00
    To record payment of personnel salaries

    Cash 200,000.00
    Vertudez, Capital 200,000.00
    To record additional investment of Mr. Vertudez

    31 Rent Expense 22,500.00


    Cash 22,500.00
    To record rent paid of business space for the month
    ASSETS
    Cash
    Date
    Aug 1

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