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    ACTIVITY 1 BSA4A Autosaved

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    Jonathan Bausing
    The document contains journal entries for BiEsEy Company from January to December 2019. It records various debits and credits to accounts such as cash, accounts receivable, inventory, expenses, and more. Major transactions include purchases, sales, returns, expenses, payroll, depreciation, and partner withdrawals.

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    © All Rights Reserved
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    ACTIVITY 1 BSA4A Autosaved

    Uploaded by

    Jonathan Bausing
    17 views6 pages
    The document contains journal entries for BiEsEy Company from January to December 2019. It records various debits and credits to accounts such as cash, accounts receivable, inventory, expenses, and more. Major transactions include purchases, sales, returns, expenses, payroll, depreciation, and partner withdrawals.

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    ACTIVITY-1-BSA4A-Autosaved.xlsx

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    The document contains journal entries for BiEsEy Company from January to December 2019. It records various debits and credits to accounts such as cash, accounts receivable, inventory, expenses, and more. Major transactions include purchases, sales, returns, expenses, payroll, depreciation, and partner withdrawals.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    17 views6 pages

    ACTIVITY 1 BSA4A Autosaved

    Uploaded by

    Jonathan Bausing
    The document contains journal entries for BiEsEy Company from January to December 2019. It records various debits and credits to accounts such as cash, accounts receivable, inventory, expenses, and more. Major transactions include purchases, sales, returns, expenses, payroll, depreciation, and partner withdrawals.

    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 6

    BiEsEy Company

    Account Balances
    December 31, 2019

    BiEsEy Company
    Journal Entries
    Jan-20

    Date Account Debit


    Jan-02 Cash 56,500
    Accounts Receivables
    3 Accounts Payable 32,000
    Cash
    Purchase Discounts
    Input VAT
    Accounts Payable 32,000
    Cash
    Purchase Discounts
    Input Vat
    6 Raw Materials Inventory 106,547.50
    Input Vat 12,785.70
    Accounts Payable
    Raw Materials Inventory 95,131.70
    Input Vat 11,415.80
    Accounts Payable
    6 Accounts Receivable 402,662
    Sales
    Output VAT
    Accounts Receivable 359,520
    Sales
    Output VAT
    7 Advertising Expense 3,000
    Cash
    7 Cash 391,372.80
    Sales
    Output VAT
    Cash 349,440
    Sales
    Output Vat
    8 Accounts Payable 119,333.20
    Cash
    Accounts Payable 106,547.50
    Cash
    9 Accounts Payable 2,350.40
    Purchase Discount
    Input VAT
    Cash
    Accounts Payable 2,350.40
    Purchase Discount
    Input VAT
    Cash
    10 Sales Returns and Allowances 44,800
    Output Vat 5376
    Accounts Receivable
    Sales Returns and Allowances 40,000
    Output Vat 4,800
    Accounts Receivable
    10 Cash 344,590
    Sales Discounts 7,049.72
    Output Vat 846
    Accounts Receivable
    Cash 308,425.60
    Sales Discounts 5,620
    Output Vat 674.4
    Accounts Receivable
    11 Interest Expense 13,000
    Cash
    15 Direct Labor 49,542.50
    Factory Overhead 84,625
    Selling & Administrative Expenses 66,082.50
    Cash
    16 Accounts Receivable 500,506
    Output Vat
    Sales
    Accounts Receivable 446,880
    Output Vat
    Sales
    17 Freight-in 2,000
    Input Vat 240
    Cash
    20 Manufacturing Supplies 9,375
    Input Vat 1125
    Cash
    21 Raw Materials Inventory 69,949.78
    Input Vat 8,393.97
    Cash
    21 Repairs and Maintenance 14,980
    Input Vat 1797.6
    Accounts Payable
    22 Miscellaneous Expenses 3,125
    Input Vat 375
    Cash
    23 Cash 489,284.67
    Sales Discounts 10,020.12
    Output Vat 1,201.21
    Accounts Receivable
    Cash 437,942.40
    Sales Discounts 7,980.00
    Output Vat 957.60
    Accounts Receivable
    24 Raw Materials Inventory 206,728.35
    Input Vat 24,807.40
    Accounts Payable
    25 Freight-in 2,000
    Input Vat 240
    Cash
    27 Accounts Receivable 486,080
    Sales
    Output Vat
    Accounts Receivable 434,000
    Sales
    Output Vat
    28 Sales Returns and Allowances 50,400
    Output Vat 6,048
    Accounts Receivable
    Sales Returns and Allowances 45,000
    Output Vat 5,400
    Accounts Receivable
    29 Factory Overhead 29,220
    Administrative Expenses 5,000
    Cash
    29 BiEsEy, Withdrawals 200,000
    Cash
    30 Accounts Payable 13,990.18
    Input Vat 1,678.82
    Purchase Returns and Allowances
    31 Direct Labor 49,542.50
    Factory Overhead 84,625
    Selling & Administrative Expenses 66,082.50
    Cash
    31 Insurance Expense 8,100
    Prepaid Insurance
    31 Depreciation Expenses 109,000
    Accumulated Depreciation Factory Building
    Accumulated Depreciation Factory Equipment
    Credit

    56,500

    30,924.80
    960
    115.2 EXCLUSIVE (32K*.03).12

    31,040
    857.14 INCLUSIVE (32k/1.12).03
    102.86

    119,333.20 EXCLUSIVE (106547.50*.12)

    106,547.50 INCLUSIVE (106547/1.12)

    359,520
    43,142.40 EXCLUSIVE (359,520*.12)

    321,000 INCLUSIVE (359,520/1.12)


    38,520

    3,000

    349,440
    41,932.80 EXCLUSIVE

    312,000
    37,440 INCLUSIVE

    119,333.20 EXCLUSIVE

    106,547.50 INCLUSIVE

    41.97 INCLUSIVE (2350.4/1.12)2%


    5.04
    2,303.39
    47 EXCLUSIVE (2,350.40*2%)
    5.64 47*12%
    2,297.76

    EXCLUSIVE 44800*.12
    50,176

    44800 INCLUSIVE (44800/1.12)

    352,486 EXCLUSIVE

    314,720 INCLUSIVE (341720/1.12)2%

    13,000

    200,250

    53,625.60 EXCLUSIVE
    446,880

    47,880 INCLUSIVE
    399,000

    2,240

    10,500 (10500/1.12).12

    78,343.75 INCLUSIVE /1.12*.12

    16,777.60

    3,500

    500,506 EXCLUSIVE
    446,880 INCLUSIVE

    231,535.75 INCLUSIVE

    2,240

    434,000
    52,080 EXCLUSIVE

    387,500
    46,500 INCLUSIVE

    56,448 EXCLUSIVE

    50,400 INCLUSIVE

    34,220

    200,000

    15,669 INCLUSIVE

    200,250

    8,100

    46,200
    62,800

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