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    Kevin Perales Quiz#3

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    Kevin Perales
    The document details journal entries for transactions made during the month of April 2021 by a business owner. It includes entries for purchasing inventory, furniture, and paying expenses. Sales were also made and recorded along with payment received from customers.

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

    Kevin Perales Quiz#3

    Uploaded by

    Kevin Perales
    26 views5 pages
    The document details journal entries for transactions made during the month of April 2021 by a business owner. It includes entries for purchasing inventory, furniture, and paying expenses. Sales were also made and recorded along with payment received from customers.

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    © © All Rights Reserved

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    DOCX, PDF, TXT or read online from Scribd

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    The document details journal entries for transactions made during the month of April 2021 by a business owner. It includes entries for purchasing inventory, furniture, and paying expenses. Sales were also made and recorded along with payment received from customers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    26 views5 pages

    Kevin Perales Quiz#3

    Uploaded by

    Kevin Perales
    The document details journal entries for transactions made during the month of April 2021 by a business owner. It includes entries for purchasing inventory, furniture, and paying expenses. Sales were also made and recorded along with payment received from customers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Name: Perales, Kevin Roy B.

    Section: BSBA MKT 2-D


    Prof: Clarissa R. Reyes
    Course: Fundamentals of Accountancy, Business and
    Management 2 (FABM2)
    Time: Tuesday 7:00 AM-10:00 AM
    QUIZ 3: JOURNAL ENTRIES

    Make journal entries for the following transaction;


    On April 01, 2021 Mr. Ramos started merchandising business
    with 100,000 cash investment and other transactions for the
    month are:

    Apr. 2. Purchase furniture worth 7,000 paid in cash.


    Apr. 8. Purchase inventories to Mr. Ampong worth 3,000. Paid
    2,000 cash and the balance of
    1,000 will be paid on Apr 22.
    Apr. 14. Sold goods to Ms. Talia amounting to 17,000. Ms. Talia
    paid 5,000 and promised to
    pay the balance of 12,000 next month.
    Apr. 18. Mr. Ramos withdrew of worth 2,000 for personal use.
    Apr. 22. Paid Mr. Ampong the balance of 1,000.
    Apr. 26. Sold goods to Mr. Ruiz amounting to 20,000.
    Apr. 30. Paid Salaries Expense 10,000.

    Date Account title & Debit Credit


    Explanation
    4/1/2021 Cash 100,000.00
    Ramos, Capital 100,000.00
    Initial investment of Mr.
    Ramos

    4/2/2021 Furniture Expense 7,000.00


    Cash 7,000.00
    To record purchase of
    furniture

    4/3/2021 No Entry

    4/4/2021 No Entry

    4/5/2021 No Entry

    4/6/2021 No Entry

    4/7/2021 No Entry

    4/8/2021 Accounts Payable – 3,000.00


    Purchase Inventories to
    Mr. Ampong
    Paid in Cash 2,000.00
    Accounts Payable 1,000.00

    4/9/2021 No Entry

    4/10/2021 No Entry

    4/11/2021 No Entry

    4/12/2021 No Entry

    4/13/2021 No Entry

    4/14/2021 Sales of Goods to Ms. Talia 17,000.00


    Paid in cash 5,000.00
    Accounts Receivable 12,000.00

    4/15/2021 No Entry

    4/16/2021 No Entry

    4/17/2021 No Entry

    4/18/2021 Ramos Withdrawals 2,000.00


    Cash 2,000.00
    To record Withdrawals

    4/19/2021 No Entry
    4/20/2021 No Entry

    4/21/2021 No Entry

    4/22/2021 Cash 3,000.00


    Accounts Payable 1,000.00
    To record accounts
    payable

    4/23/2021 No Entry

    4/24/2021 No Entry

    4/25/2021 No Entry

    4/26/2021 Sales of Goods to Mr. Ruiz 20,000.00


    Cash 20,000.00
    Accounts Receivable

    4/27/2021 No Entry

    4/28/2021 No Entry

    4/29/2021 No Entry

    4/30/2021 Salaries Expense 10,000.00


    Cash 10,000.00
    To record payment of
    Salaries Expense
    5/1/2021 Sales of Goods to Ms. Talia 17,000.00
    Paid in cash 5,000.00
    Accounts Receivable 12,000.00

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