1.

April 1st

2.April 2nd

3. April 2nd

4. April 2nd

5. April 3rd

6. April 3rd
7. April 4th

8. April 5th

9. April 6th

10. April 7th

11. April 8th

12. April 9th

13. April 10th (first part)

14. April 10th (second part)

15. April 11th

16. April 12th

16. April 13th

17. April 13th

18. April 14th

19. April 14th

20. April 15th

21. April 16th

22. April 16th

23. April 16th

24. April 16th

25. April 16th

26. April 17th

27. April 17th

28. April 17th

29. April 17th

30. April 17th

31. April 18th

32. April 18th

33. April 18th

34. April 19th

35. April 19th

36. April 19th

37. April 20th

38. April 20th

39. April 20th

40. April 20th

41. April 21st

42. April 21st

43. April 21st

44. April 22nd

45. April 23rd

46. April 24th

47. April 24th

48. April 24th

49. April 25th

50. April 25th

51. April 26th

52. April 27th

53. April 27th

54. April 28th

55. April 29th

56. April 30th

57. April 30th

Description
Transaction: The company sold merchandise for cash.
Assumptions:
VAT Rate: Assume 10%

Transaction: The company purchased new equipment.

Assumptions: Assume the equipment cost including VAT is $55,000
VAT Rate: Assume 10%.

Transaction: The company purchased merchandise.

Assumptions: Assume the merchandise cost including VAT is $220,000
VAT Rate: Assume 10%.

Transaction: The company paid for shipping costs.

Assumptions: Shipping costs including VAT are provided as $5,000 + VAT.
VAT Rate: Assume 10%.

Transaction: The company bought 2 new computers.

Assumptions: Assume the total cost including VAT is $22,000
VAT Rate: Assume 10%.

Transaction: Sale of merchandise in cash.

Assumptions: Assume the sale amount including VAT is $66,000.
VAT Rate: Assume 10%.
Transaction: Sale of merchandise on credit.
Assumptions: Assume the sale amount including VAT is $220,000.
VAT Rate: Assume 10%.

Transaction: Purchase of new furniture on credit.

Assumptions: Furniture cost including VAT is $11,000.
VAT Rate: Assume 10%.

Transaction: Purchase of merchandise for inventory on credit.

Assumptions: Assume the merchandise cost including VAT is $330,000.
VAT Rate: Assume 10%.

Transaction: Sale of merchandise on credit.

Assumptions: Assume the sale amount including VAT is $330,000.
VAT Rate: Assume 10%.

Transaction: Customer returned merchandise.

Assumptions: Return amount including VAT is $3,000, and the cost of returned merchandise is $900.
VAT Rate: Assume 10%.
Transaction: Purchase of equipment on account.
Assumptions: Assume the equipment cost including VAT is $55,000.
VAT Rate: Assume 10%.

Transaction: Purchase of office supplies for inventory, paid with a check.

Assumptions: Total cost including VAT is $3,850.
VAT Rate: Assume 10%.

Transaction: Sale of merchandise in cash.

Assumptions: Sale amount including VAT is $110,000, and cost of goods sold is $30,000.
VAT Rate: Assume 10%.

Transaction: Purchase of equipment for a total of $10,000, paid with a check.

Assumptions: Total cost including VAT is $11,000.
VAT Rate: Assume 10%.

Transaction: Deposit made to the bank account.

Assumptions: Deposit amount is $200,000.

Transaction: Purchase of merchandise for inventory.

Details: $51,340 plus VAT (assume 10%). Paid with checks.
Transaction: Sale of merchandise, 50% cash and 50% on account.
Details: Sale amount $388,000 plus VAT (assume 10%), cost of goods sold $160,000.

Transaction: Sale of merchandise in cash.

Details: $300,500 plus VAT (assume 10%), cost of goods sold $100,000.

Transaction: Sale of merchandise on credit.

Details: $200,350 plus VAT (assume 10%), cost of goods sold $100,800.

Transaction: Sale of merchandise in cash with a 10% discount.

Details: $100,610 plus VAT (assume 10%), cost of goods sold $30,600.

Transaction: Purchase of merchandise for $__________, 50% cash and 50% on account.
Details: Assume total cost is $44,000 plus VAT (assume 10%).
Transaction: Administrative expenses accrued.
Details: $90,000 plus VAT (assume 10%).

Transaction: Payment of wages to administrative employees.

Details: $120,000.

Transaction: Payment of wages to sales department employees.

Details: $40,000.

Transaction: Payment of commissions to sales personnel.

Details: $100,000.

Transaction: Purchase of merchandise with a discount.

Details: $20,200 plus VAT (assume 10%), 10% discount.

Transaction: Advance payment of warehouse rent.

Details: $60,000 plus VAT (assume 10%).

Transaction: Customer returned merchandise from April 10th sale.

Details: $20,000, cost $6,000.
Transaction: Purchase of merchandise guaranteed with notes.
Details: $40,000 plus VAT (assume 10%).

Transaction: Payment for shipping costs.

Details: $2,600 plus VAT (assume 10%).

Transaction: Deposit to bank account.

Details: $400,000.

Transaction: Loan to employee.

Details: $3,000.

Transaction: Sale of merchandise guaranteed with notes.

Details: Assume sale amount is $220,000 plus VAT (assume 10%), cost of goods sold $200,700.

Transaction: Borrowed from the bank.

Details: $40,000.

Transaction: Purchase of merchandise on credit.

Details: $20,800 plus VAT (assume 10%).
Transaction: Sale of merchandise guaranteed with notes, including interest.
Details: $234,000 plus VAT (assume 10%), cost of goods sold $95,800.

Transaction: Return of merchandise from the purchase on April 19th.

Details: Merchandise returned worth $3,500.

Transaction: Purchase of merchandise, 50% paid with a check and 50% with a note.
Details: $200,000 plus VAT (assume 10%).

Transaction: Accrued telephone service expense.

Details: Assume administrative expense is $3,000 plus VAT (10%), sales department $2,000 plus VAT (10%).

Transaction: Sale of merchandise, 80% in cash and 20% on account.

Details: $88,000 plus VAT (10%), cost of goods sold is 40% of the sale ($35,200).
Transaction: Purchase of computer equipment.
Details: $40,300 plus VAT (10%).

Transaction: Purchase of furniture.

Details: $180,300 plus VAT (10%).

Transaction: Return of merchandise to supplier.

Details: $20,000 received in a check.

Transaction: Borrowed from the bank.

Details: $800,000 deposited in the bank account, interest payable $80,000.

Transaction: Purchase of equipment, 50% paid with a check and 50% with a note.
Details: $300,450 plus VAT (10%).

Transaction: Purchase of equipment on credit.

Details: $50,000 plus VAT (10%).

Transaction: Sale of merchandise in cash.

Details: $900,000 plus VAT (10%), cost of goods sold 30% ($270,000).
Transaction: Payment of shipping costs for previous sale.
Details: $40,000 plus VAT (10%).

Transaction: Collection of accounts receivable.

Details: Assume $50,000 collected and deposited in the bank.

Transaction: Deposit in the bank account.

Details: $940,000.

Transaction: Purchase of equipment and furniture, paid with checks.

Details: Equipment $1,000,000 plus VAT (10%), furniture $290,000 plus VAT (10%).

Transaction: Advertising expense paid with a check.

Details: Assume $20,000 plus VAT (10%).

Transaction: Customer return from the sale on April 24th.

Details: Assume return amount $30,000, refunded with a check.
Transaction: Purchase of merchandise for inventory.
Details: $700,000 plus VAT (10%), 30% paid with a check, rest on account.

Transaction: Payment of accounts payable.

Details: $320,890, $120,890 in cash, rest with a check.

Transaction: Depreciation of fixed assets.

Details: $133,596.

Transaction: Income taxes accrued.

Details: 30% of net income before taxes. Assume net income before taxes is $1,000,000
 credit

Cash (Debit)
Sales Revenue (Credit) $10,909.09
VAT Payable (Credit) $1,090.91
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $10,000

Equipment (Debit)
VAT Recoverable (Debit)
Cash (Credit) $55,000

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Cash (Credit) $220,000

VAT Recoverable (Debit)

Freight Expense (Debit)
Cash (Credit) $5,500

Equipment (Debit)
VAT Recoverable (Debit)
Cash (Credit) $22,000

Cash (Debit)
Sales Revenue (Credit) $60,000
VAT Payable (Credit) $6,000
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $60,000

Accounts Receivable (Debit)

Sales Revenue (Credit) $200,000
VAT Payable (Credit) $20,000
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $180,000

Furniture (Debit)
VAT Recoverable (Debit)
Accounts Payable (Credit) $11,000

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Accounts Payable (Credit) $330,000

Accounts Receivable (Debit)

Sales Revenue (Credit) $300,000
Sales Revenue (Credit) $30,000
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $210,000

Sales Returns and Allowances (Debit)

VAT Payable (Debit)
Cash (Credit) $3,000
Merchandise Inventory (Debit)
Cost of Goods Sold (Credit) $900

Equipment (Debit)
VAT Recoverable (Debit)
Accounts Payable (Credit) $55,000

Office Supplies (Debit)

VAT Recoverable (Debit)
Cash (Credit) $3,850

Cash (Debit)
Sales Revenue (Credit) $100,000
VAT Payable (Credit) $10,000
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $30,000

Equipment (Debit)
VAT Recoverable (Debit)
Cash (Credit) $11,000

Banks (Debit)
Cash (Credit) $200,000

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Cash (Credit) $56,474

Cash (Debit)
Accounts Receivable (Debit)
Sales Revenue (Credit) $352,727.27
VAT Payable (Credit) $35,272.73
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $160,000

Cash (Debit)
Sales Revenue (Credit) $300,500
VAT Payable (Credit) $30,050
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $100,000

Accounts Receivable (Debit)

Sales Revenue (Credit) $200,350
VAT Payable (Credit) $20,035
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $100,800

Cash (Debit)
Sales Discount (Debit)
Sales Revenue (Credit) $91,409.09
VAT Payable (Credit) $9,241.91
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $30,600

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Cash (Credit) $22,000
Accounts Payable (Credit) $22,000

Administrative Expenses (Debit)

VAT Recoverable (Debit)
Accounts Payable (Credit) $99,000

Salaries Expense (Debit)

Cash (Credit) $120,000

Salaries Expense (Debit)

Cash (Credit) $40,000

Commission Expense (Debit)

Cash (Credit) $100,000

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Cash (Credit) $19,998

Prepaid Rent (Debit)

VAT Recoverable (Debit)
Cash (Credit) $66,000

Sales Returns and Allowances (Debit)

VAT Payable (Debit)
Accounts Receivable (Credit) $20,000
Merchandise Inventory (Debit)
Cost of Goods Sold (Credit) $6,000

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Notes Payable (Credit) $44,000

Freight Expense (Debit)

VAT Recoverable (Debit)
Cash (Credit) $2,860

Bank (Debit)
Cash (Credit) $400,000

Loans Receivable (Debit)

Cash (Credit) $3,000

Notes Receivable (Debit)

Sales Revenue (Credit) $220,000
VAT Payable (Credit) $22,000
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $200,700

Cash (Debit)
Bank Loan (Credit) $40,000

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Accounts Payable (Credit) $22,880

Notes Receivable (Debit)

Sales Revenue (Credit) $234,000
VAT Payable (Credit) $23,400
Interest Revenue (Credit) $4,680
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $95,800

Accounts Payable (Debit)

Merchandise Inventory (Credit) $3,182
VAT Recoverable (Credit) $318

Merchandise Inventory (Debit)

VAT Recoverable (Debit)
Cash (Credit) $110,000
$110,000
Notes Payable (Credit)

Administrative Expenses (Debit)

VAT Recoverable (Debit)
Sales Expenses (Debit)
VAT Recoverable (Debit)
Accounts Payable (Credit) $5,500

Cash (Debit)
Accounts Receivable (Debit)
Sales Revenue (Credit) $80,000
VAT Payable (Credit) $8,000
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $35,200
Computer Equipment (Debit)
VAT Recoverable (Debit)
Cash (Credit) $44,330

Furniture (Debit)
VAT Recoverable (Debit)
Cash (Credit) $198,330

Cash (Debit)
Merchandise Inventory (Credit) $18,182
VAT Recoverable (Credit) $1,818

Bank (Debit)
Long-term Debt (Credit) $800,000
Interest Payable (Debit)
Interest Expense (Credit) $80,000

Equipment (Debit)
VAT Recoverable (Debit)
Cash (Credit) $165,247.50
Notes Payable (Credit) $165,247.50

Equipment (Debit)
VAT Recoverable (Debit)
Accounts Payable (Credit) $55,000
Cash (Debit)
Sales Revenue (Credit) $900,000
VAT Payable (Credit) $90,000
Cost of Goods Sold (Debit)
Merchandise Inventory (Credit) $270,000

Freight Expense (Debit)

VAT Recoverable (Debit)
Cash (Credit) $44,000

Bank (Debit)
Accounts Receivable (Credit) $50,000

Bank (Debit) $940,000

Cash (Credit)

Equipment (Debit)
Furniture (Debit)
VAT Recoverable (Debit)
Cash (Credit) $1,419,000

Advertising Expense (Debit)

VAT Recoverable (Debit)
Cash (Credit) $22,000

Sales Returns and Allowances (Debit)

VAT Payable (Debit)
Cash (Credit) $30,000
Merchandise Inventory (Debit)
Cost of Goods Sold (Credit) $9,000
Merchandise Inventory (Debit)
VAT Recoverable (Debit)
Cash (Credit) $231,000
Accounts Payable (Credit) $539,000

Accounts Payable (Debit)

Cash (Credit) $120,890
Bank (Credit) $200,000

Depreciation Expense (Debit)

Accumulated Depreciation (Credit) $133,596

Income Tax Expense (Debit)

Income Tax Payable (Credit) $300,000
debit DAVID TORRES

$12,000

$10,000

$50,000
$5,000

$200,000
$20,000

$5,000
$500

$20,000
$2,000

$66,000
 $60,000

$220,000

$180,000

$10,000
$1,000

$300,000
$30,000

$330,000

$210,000

$2,727.27
$272.73
 $900

$50,000
$5,000

$3,500
$350

$110,000

$30,000

$10,000
$1,000

$200,000

$51,340
 $5,134

$213,400
$213,400

$160,000

$330,550

$100,000

$220,385

$100,800

$99,671
$10,061

$30,600

$40,000
$4,000
 $90,000
$9,000

$120,000

$40,000

$100,000

$18,180
$1,818

$60,000
$6,000

$18,181.82
$1,818.18
 $6,000

$40,000
$4,000

$2,600
$260

$400,000

$3,000

$242,000

$200,700

$40,000

$20,800
 $2,080

$262,080

$95,800

$3,500

$200,000
$20,000

$3,000
$300
$2,000
$200

$77,440
$19,360

$35,200
 $40,300
$4,030

$180,300
$18,030

$20,000

$800,000

$80,000

$300,450
$30,045

$50,000
$5,000
 $990,000

$270,000

$40,000
$4,000

$50,000

$940,000

$1,000,000
$290,000
$129,000

$20,000
$2,000

$27,273
$2,727

$9,000
$700,000
$70,000

$320,890

$133,596

$300,000