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IV. Activities: Prepare accounts a payable ledger of the following transactions. Write your answer on a separate sheet of paper. Activity 1 XYZ Company has opening accounts payable balance of 95,000 which comprises P 25,000, Re. NIL and P 70,000 are payable to vendors ABC, KLM, and RST respectively. During the period following transactions were undertaken: Feb. 1 Purchase of goods from vendor ABC worth P 200,000 Goods returned to vendor ABC worth P 20,000 Purchase of goods from vendor KLM worth P 50,000 Payment to vendor KLM worth P 45,000 Payment to vendor ABC worth P 150,000 Payment to vendor RST worth P 65,000 Feb. 3 Feb. 5 Feb. 8 Feb. 11 Feb. 15 Activity 2 J. Lo Company has opening accounts payable balance of P 100,000 which comprises P 30,000, Re. NIL and P 80,000 payable to vendors Vince, Kath, and James respectively. During the period following transactions were undertaken: Purchase of goods from vendor Vince worth P 150,000 Goods returned to vendor Vince worth P 30,000 Purchase of goods from vendor Kath worth P 60,000 Payment to vendor Kath worth P 55,000 Payment to vendor Vince worth P 160,000 Payment to vendor James worth P 75,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17 Activity 3 Paul's Company has opening accounts payable balance of P 200,000 which comprises P 50,000, Re. NIL and P 100,000 payable to vendors ABC, DEF, and GHI respectively. During the period following transactions were undertaken: Purchase of goods from vendor ABC worth P 250,000 Goods returned to vendor ABC worth P 50,000 Purchase of goods from vendor DEF worth P 80,000 Payment to vendor DEF worth P 75,000 Payment to vendor ABC worth P 250,000 Payment to vendor GHI worth P 85,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17

IV. Activities: Prepare accounts a payable ledger of the following transactions. Write your answer on a separate sheet of paper. Activity 1 XYZ Company has opening accounts payable balance of 95,000 which comprises P 25,000, Re. NIL and P 70,000 are payable to vendors ABC, KLM, and RST respectively. During the period following transactions were undertaken: Feb. 1 Purchase of goods from vendor ABC worth P 200,000 Goods returned to vendor ABC worth P 20,000 Purchase of goods from vendor KLM worth P 50,000 Payment to vendor KLM worth P 45,000 Payment to vendor ABC worth P 150,000 Payment to vendor RST worth P 65,000 Feb. 3 Feb. 5 Feb. 8 Feb. 11 Feb. 15 Activity 2 J. Lo Company has opening accounts payable balance of P 100,000 which comprises P 30,000, Re. NIL and P 80,000 payable to vendors Vince, Kath, and James respectively. During the period following transactions were undertaken: Purchase of goods from vendor Vince worth P 150,000 Goods returned to vendor Vince worth P 30,000 Purchase of goods from vendor Kath worth P 60,000 Payment to vendor Kath worth P 55,000 Payment to vendor Vince worth P 160,000 Payment to vendor James worth P 75,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17 Activity 3 Paul's Company has opening accounts payable balance of P 200,000 which comprises P 50,000, Re. NIL and P 100,000 payable to vendors ABC, DEF, and GHI respectively. During the period following transactions were undertaken: Purchase of goods from vendor ABC worth P 250,000 Goods returned to vendor ABC worth P 50,000 Purchase of goods from vendor DEF worth P 80,000 Payment to vendor DEF worth P 75,000 Payment to vendor ABC worth P 250,000 Payment to vendor GHI worth P 85,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17

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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Activities: Prepare accounts a payable ledger of the following transactions. Write your answer on a separate sheet of paper. IV. Activity 1 XYZ Company has opening accounts payable balance of 95,000 which comprises P 25,000, Re. NIL and P 70,000 are payable to vendors ABC, KLM, and RST respectively. During the period following transactions were undertaken: Feb. 1 Purchase of goods from vendor ABC worth P 200,000 Goods returned to vendor ABC worth P 20,000 Purchase of goods from vendor KLM worth P 50,000 Payment to vendor KLM worth P 45,000 Payment to vendor ABC worth P 150,000 Payment to vendor RST worth P 65,000 Feb. 3 Feb. 5 Feb. 8 Feb. 11 Feb. 15 Activity 2 J. Lo Company has opening accounts payable balance of P 100,000 which comprises P 30,000, Re. NIL and P 80,000 payable to vendors Vince, Kath, and James respectively. During the period following transactions were undertaken: Purchase of goods from vendor Vince worth P 150,000 Goods returned to vendor Vince worth P 30,000 Purchase of goods from vendor Kath worth P 60,000 Payment to vendor Kath worth P 55,000 Payment to vendor Vince worth P 160,000 Payment to vendor James worth P 75,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17 Activity 3 Paul's Company has opening accounts payable balance of P 200,000 which comprises P 50,000, Re. NIL and P 100,000 payable to vendors ABC, DEF, and GHI respectively. During the period following transactions were undertaken: Purchase of goods from vendor ABC worth P 250,000 Goods returned to vendor ABC worth P 50,000 Purchase of goods from vendor DEF worth P 80,000 Payment to vendor DEF worth P 75,000 Payment to vendor ABC worth P 250,000 Payment to vendor GHI worth P 85,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17
Transcribed Image Text:Activities: Prepare accounts a payable ledger of the following transactions. Write your answer on a separate sheet of paper. IV. Activity 1 XYZ Company has opening accounts payable balance of 95,000 which comprises P 25,000, Re. NIL and P 70,000 are payable to vendors ABC, KLM, and RST respectively. During the period following transactions were undertaken: Feb. 1 Purchase of goods from vendor ABC worth P 200,000 Goods returned to vendor ABC worth P 20,000 Purchase of goods from vendor KLM worth P 50,000 Payment to vendor KLM worth P 45,000 Payment to vendor ABC worth P 150,000 Payment to vendor RST worth P 65,000 Feb. 3 Feb. 5 Feb. 8 Feb. 11 Feb. 15 Activity 2 J. Lo Company has opening accounts payable balance of P 100,000 which comprises P 30,000, Re. NIL and P 80,000 payable to vendors Vince, Kath, and James respectively. During the period following transactions were undertaken: Purchase of goods from vendor Vince worth P 150,000 Goods returned to vendor Vince worth P 30,000 Purchase of goods from vendor Kath worth P 60,000 Payment to vendor Kath worth P 55,000 Payment to vendor Vince worth P 160,000 Payment to vendor James worth P 75,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17 Activity 3 Paul's Company has opening accounts payable balance of P 200,000 which comprises P 50,000, Re. NIL and P 100,000 payable to vendors ABC, DEF, and GHI respectively. During the period following transactions were undertaken: Purchase of goods from vendor ABC worth P 250,000 Goods returned to vendor ABC worth P 50,000 Purchase of goods from vendor DEF worth P 80,000 Payment to vendor DEF worth P 75,000 Payment to vendor ABC worth P 250,000 Payment to vendor GHI worth P 85,000 Dec. 2 Dec. 5 Dec. 8 Dec. 12 Dec. 14 Dec. 17
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