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    FABM Activity

    Uploaded by

    Ashlee Baguio
    The document summarizes the transactions of Ang Tindahan Co., a wholesaler of office supplies, for its first month of operations. It lists various cash receipts, purchases, sales, and expenses. Key transactions include an initial capital contribution, purchases of inventory and equipment, sales to various customers on credit terms, payments of expenses like rent and salaries, and cash withdrawals by the owner. Journal entries are provided to record these transactions under the perpetual inventory method.

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

    FABM Activity

    Uploaded by

    Ashlee Baguio
    181 views7 pages
    The document summarizes the transactions of Ang Tindahan Co., a wholesaler of office supplies, for its first month of operations. It lists various cash receipts, purchases, sales, and expenses. Key transactions include an initial capital contribution, purchases of inventory and equipment, sales to various customers on credit terms, payments of expenses like rent and salaries, and cash withdrawals by the owner. Journal entries are provided to record these transactions under the perpetual inventory method.

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    The document summarizes the transactions of Ang Tindahan Co., a wholesaler of office supplies, for its first month of operations. It lists various cash receipts, purchases, sales, and expenses. Key transactions include an initial capital contribution, purchases of inventory and equipment, sales to various customers on credit terms, payments of expenses like rent and salaries, and cash withdrawals by the owner. Journal entries are provided to record these transactions under the perpetual inventory method.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    181 views7 pages

    FABM Activity

    Uploaded by

    Ashlee Baguio
    The document summarizes the transactions of Ang Tindahan Co., a wholesaler of office supplies, for its first month of operations. It lists various cash receipts, purchases, sales, and expenses. Key transactions include an initial capital contribution, purchases of inventory and equipment, sales to various customers on credit terms, payments of expenses like rent and salaries, and cash withdrawals by the owner. Journal entries are provided to record these transactions under the perpetual inventory method.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 7

    Ashlee L.

    Baguio FABM - Let It Stay 12- Malachi

    Ang Tindahan Co. is a wholesaler of office and school supplies. The following are the
    transactions of Ang Tindahan Co. for the first month of its operations. All cash disbursements are made by bank
    perpetual inventory method is used.

    Business/ Bank
    Date Transactions Amount Forms to be filled up
    7/1/2022
    Rachel Dy made initial
    contribution to the business
    P200,000 Deposit Slip
    by depositing money in the
    company's bank account.

    Purchased laptop from


    Check
    Computershop Inc. for
    45,000 Check Voucher
    office use. Payment term:
    Purchase Order
    COD (Cash on Delivery)
    7/1/2022

    Paid advance rental for Check


    30,000
    6 months Check Voucher
    7/2/2022
    Received 200 reams of
    bond papers (inventory) Purchase Invoice
    25,000
    ordered from Jude Corp. Receiving Report
    Payment terms: 2/10, n/30.
    7/4/2022

    Delivered 150 reams of


    bond papers to Aurora
    Company.
    Delivery Receipt
    Payment terms: 2/10, n/20. 41, 250
    Sales Invoice
    Cost of merchandise was
    P18,750.

    7/7/2022

    Check
    Paid the July 4 purchases 24,500 Check Voucher

    7/8/2022
    Check
    Paid salary of employee 7,000 Check Voucher
    7/15/2022

    Received payment from


    40,425 Offical Receipt
    the July 7 sales
    7/16/2022
    Sold 20 reams of bond papers
    to Audrey Company. Audrey
    picked up the merchandise
    from the store. 5,500 Sales Invoice
    Payment term: 15 days.
    Cost of merchandise was
    P2,500.

    7/18/2022
    Check
    Received 10 boxes of ballpoint
    Check Voucher
    pens from Mickey Inc. 25,000
    Receiving Report
    Payment terms: COD
    7/19/2022

    Over the counter sale of 4


    boxes of ballpoint pens to
    22,000 Offical Receipt
    Happy Company: Cost of
    merchandise was P 10,000
    7/22/2022
    Received 10 calculators from
    Receiving Report
    Plusminus Corporation. 3,000
    Purchase Invoice
    Payment terms: 30 days.
    7/23/2022

    Sold 6 calculators to Joel


    Company. Joel picked up the
    merchandise from the store
    Payment Term: 15 days.
    Cost of merchandise was 3,960 Sales Invoice
    P 1,800

    7/24/2022
    Check
    Paid electricity bill 7,400 Check Voucher
    7/25/2022

    Received 2 defective
    Check
    calculators from Joel 1,320 Check Voucher
    Company. Cost of defective
    calculators is P 600.
    7/26/2022
    Over the counter cash
    withdrawal by the owner, 10,000 Withdrawal Slip
    Rachel Dy, for her personal
    7/31/2022 expenses.

    merchandise was P2,500.


    ay 12- Malachi

    ool supplies. The following are the


    ll cash disbursements are made by bank check. Assume
    d is used.

    Journal Journal Entry

    Dr. Cash 200,00


    Cash Receipts
    Cr. Dy, Capital 200,000

    Dr. Equipment 45,000


    Cash Disbursement
    Cr. Cash 45,000

    Dr. Prepaid
    Cash Disbursement Rent Expense 30,000
    Cr. Cash 30,000

    Dr. Inventory 25,000


    Purchase Cr. Accounts
    payable 25,000

    Dr. Accounts
    Receivable 41,250
    Cr. Sales 41,250
    Sales
    Dr. Cost of Sales 18,750
    Cr. Inventory 18,750

    Dr. Accounts Payable


    25,000
    Cash Disbursement
    Cr. Purchase Discount 500
    Cr. Cash 24,500

    Dr. Salaries Expense 7000


    Cash Disbursement
    Cr. Cash 7000

    Dr. Cash 40,425


    Dr. Sales Discount 825
    Cash Receipts
    Cr. Accounts Receivable
    41,425
    Dr. Accounts Recceivable
    5,500
    Cr. Sales 5,500
    Sales
    Dr. Cost of Sales 2,500
    Cr. Inventory 2,500

    Dr. Inventory 25,000


    Cash Disbursement
    Cr. Cash 25,000

    Dr. Cash 22,000


    Cr. Sales 22,000
    Cash Receipts
    Dr. Cost of Sales 10,000
    Cr. Inventory 10,000

    Dr. Inventory 3,000


    Purchase
    Cr. Accounts Payable 3,000

    Dr. Accounts Receivable


    3,960
    Cr. Sales 3,960
    Sales
    Dr. Cost of Soles 1,800
    Cr. Inventory 1,800

    Dr. Utilities Expense 7,400


    Cash Disbursement
    Cr. Cash 7,400

    Dr. Sales Return 1,320


    Cr. Cash 1,320
    Sales
    Dr. Inventory 600
    Cr. Cost of Sales 600
    Dr. Dy, Drawing 10,000
    Cash Disbursement
    Cr. Cash 10,000
    AngTindahan Company
    Office Address:
    Vat Registered Tin Number 547-987-234-000

    OFFICIAL RECEIPT

    Date:

    Received from: _______________________with TIN______________________and


    address at__________________________________engaged in the business style of
    pesos (P______________) in partial/full payment for__________________________

    By:________________________________
    Cashier/ Authorized Representative

    THIS DELIVERY RECEIPT SHALL BE VALID FOR FIVE YEARS FROM DATE OF ATP

    AngTindahan Company
    Office Address:
    Vat Registered Tin Number 547-987-234-000
    DELIVERY RECEIPT

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