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31, 2019. Sales P1,800.000.00 40,000. 00 12,000 00 Interest income Gains Inventory, Beginning Purchases Freght in Purchase Returns and Alowances Purchase DisCOunts Freight Out Salen Commission Advertising Expenses Salanes Expenses Rent Expenses Depreciation Expense Utilites Expenses Supplies Expense Transportation and Travel Expenses 75,000.00 480,000.00 9,000 00 12,000 00 9,000 00 32,000 00 60,000 00 30,000.00 320,000.00 36,000.00 50,000.00 30,000 00 12,000.00 Insurance Taxes and Licenses Interest Expense Miscellaneous Expenses Loss on Sale o Equpment 10,000.00 12,000 00 48,000.00 5,000 00 12,000 00 6,000 00 Additional information: 1. Ending inventory is P90,000.00 2. One-fourth of the salaries, rent and depreciation are attributable to the non-sales department. The Sales Department does not share in the other expenses. How much is the Net Purchases? How much is the changes in Inventory? How much is the Cost of Goods Sold?

31, 2019. Sales P1,800.000.00 40,000. 00 12,000 00 Interest income Gains Inventory, Beginning Purchases Freght in Purchase Returns and Alowances Purchase DisCOunts Freight Out Salen Commission Advertising Expenses Salanes Expenses Rent Expenses Depreciation Expense Utilites Expenses Supplies Expense Transportation and Travel Expenses 75,000.00 480,000.00 9,000 00 12,000 00 9,000 00 32,000 00 60,000 00 30,000.00 320,000.00 36,000.00 50,000.00 30,000 00 12,000.00 Insurance Taxes and Licenses Interest Expense Miscellaneous Expenses Loss on Sale o Equpment 10,000.00 12,000 00 48,000.00 5,000 00 12,000 00 6,000 00 Additional information: 1. Ending inventory is P90,000.00 2. One-fourth of the salaries, rent and depreciation are attributable to the non-sales department. The Sales Department does not share in the other expenses. How much is the Net Purchases? How much is the changes in Inventory? How much is the Cost of Goods Sold?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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31, 2019. Sales Interest incorme Gains P1,800.000.00 40,000 00 12,000 00 Inventory. Beginning 75,000 00 Purchases 480,000.00 9.000 00 Freght in Purchase Returns and Alowances Purchase OisCounts Freight Out Salen Commission Advertising Expenses Salaries Expenses Rent Expenses Depreciation Expense Utilites Expenses Supplies Expense Transportation and Travel Expenses 12,000 00 9,000 00 32,000.00 60,000 00 30,000.00 320,000.00 36,000.00 50,000.00 30,000 00 12,000.00 10,000.00 12,000 .00 48,000.00 5,000.00 12,000 00 6,000 00 Insurance Taxes and Licenses Interest Expense Miscellaneous Expenses Loss on Sale o Equpment
Transcribed Image Text:31, 2019. Sales Interest incorme Gains P1,800.000.00 40,000 00 12,000 00 Inventory. Beginning 75,000 00 Purchases 480,000.00 9.000 00 Freght in Purchase Returns and Alowances Purchase OisCounts Freight Out Salen Commission Advertising Expenses Salaries Expenses Rent Expenses Depreciation Expense Utilites Expenses Supplies Expense Transportation and Travel Expenses 12,000 00 9,000 00 32,000.00 60,000 00 30,000.00 320,000.00 36,000.00 50,000.00 30,000 00 12,000.00 10,000.00 12,000 .00 48,000.00 5,000.00 12,000 00 6,000 00 Insurance Taxes and Licenses Interest Expense Miscellaneous Expenses Loss on Sale o Equpment
31, 2019. Sales Interest income Gains P1,800.000.00 40,000 00 12,000 00 Inventory Beginning 75.000 00 Purchases 480,000.00 9.000.00 Freght in Purchase Returns and Alowances Purchase DisCOunts Freight Out Salen Commission Advertising Expenses Salanies Expenses Rent Expenses Depreciation Expense Utites Expenses Supplies Expense 12,000 00 9,000 00 32.000.00 60,000.00 30,000.00 320,000,00 36,000.00 50,000.00 30,000 00 12,000.00 Transportation and Travel Expenses Insurance Taxes and Licenses Interest Expense Miscellaneous Expenses Loss on Sale o Equipment 10,000.00 12,000 00 48,000.00 5,000.00 12,000 00 6,000 00 Additional information: 1. Ending inventory is P90,000.00 2. One-fourth of the salaries, rent and depreciation are attributable to the non-sales department. The Sales Department does not share in the other expenses. 1. How much is the Net Purchases? 2 How much is the changes in Inventory? 3. How much is the Cost of Goods Sold? 4 How much is the Total Selling Expenses? 5 How much is the Total General and Administrative Expenses?
Transcribed Image Text:31, 2019. Sales Interest income Gains P1,800.000.00 40,000 00 12,000 00 Inventory Beginning 75.000 00 Purchases 480,000.00 9.000.00 Freght in Purchase Returns and Alowances Purchase DisCOunts Freight Out Salen Commission Advertising Expenses Salanies Expenses Rent Expenses Depreciation Expense Utites Expenses Supplies Expense 12,000 00 9,000 00 32.000.00 60,000.00 30,000.00 320,000,00 36,000.00 50,000.00 30,000 00 12,000.00 Transportation and Travel Expenses Insurance Taxes and Licenses Interest Expense Miscellaneous Expenses Loss on Sale o Equipment 10,000.00 12,000 00 48,000.00 5,000.00 12,000 00 6,000 00 Additional information: 1. Ending inventory is P90,000.00 2. One-fourth of the salaries, rent and depreciation are attributable to the non-sales department. The Sales Department does not share in the other expenses. 1. How much is the Net Purchases? 2 How much is the changes in Inventory? 3. How much is the Cost of Goods Sold? 4 How much is the Total Selling Expenses? 5 How much is the Total General and Administrative Expenses?
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