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R. Quijano Distributors is registered as a single proprietorship with DTI permit as Rommel Quijano. 4,500 May 1225 2 4 5 5 9 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 105,000 Bought merchandise on account from JBM Co. 15,900 3.5/12, n/30 Bought equipment on cash 15,000 Bought supplies on cash 850 Sold merchandise on account 65,000 3.5/10, n/30 Paid freight on May 5 sale 250 Received refund from JBM Co. 1,000 Collected to Customers Paid JBM Co. Bought Merchandise 35,400 Borrowed money to RCBC Bank with promissory note 15,500 Paid Salaries 4,500 Received cash refund from supplier 900 Bought merchandise 2/10, n/30 to CHED Co. 15,250 Paid Freight 150 on May 19 purchase Sold merchandise 47,400 on cash Bought merchandise 22,300 cash Withdrew cash 4,500 Paid CHED partial 7,900 Made refund to customer 1,500 Sold merchandise 33,700 on account n/30 Paid the following: Advertising 4,000, Utilities 550, Rent 2,500 and Salaries Inventory 25,000

R. Quijano Distributors is registered as a single proprietorship with DTI permit as Rommel Quijano. 4,500 May 1225 2 4 5 5 9 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 105,000 Bought merchandise on account from JBM Co. 15,900 3.5/12, n/30 Bought equipment on cash 15,000 Bought supplies on cash 850 Sold merchandise on account 65,000 3.5/10, n/30 Paid freight on May 5 sale 250 Received refund from JBM Co. 1,000 Collected to Customers Paid JBM Co. Bought Merchandise 35,400 Borrowed money to RCBC Bank with promissory note 15,500 Paid Salaries 4,500 Received cash refund from supplier 900 Bought merchandise 2/10, n/30 to CHED Co. 15,250 Paid Freight 150 on May 19 purchase Sold merchandise 47,400 on cash Bought merchandise 22,300 cash Withdrew cash 4,500 Paid CHED partial 7,900 Made refund to customer 1,500 Sold merchandise 33,700 on account n/30 Paid the following: Advertising 4,000, Utilities 550, Rent 2,500 and Salaries Inventory 25,000

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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PLEASE GIVE THE SOLUTION OF THE LEDGER OF THE PICTURE BELOW
R. Quijano Distributors is registered as a single proprietorship with DTI permit as Rommel Quijano. 4,500 May 1 2 2 4 5 5 9 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 105,000 Bought merchandise on account from JBM Co. 15,900 3.5/12, n/30 Bought equipment on cash 15,000 Bought supplies on cash 850 Sold merchandise on account 65,000 3.5/10, n/30 Paid freight on May 5 sale 250 Received refund from JBM Co. 1,000 Collected to Customers Paid JBM Co. Bought Merchandise 35,400 Borrowed money to RCBC Bank with promissory note 15,500 Paid Salaries 4,500 Received cash refund from supplier 900 Bought merchandise 2/10, n/30 to CHED Co. 15,250 Paid Freight 150 on May 19 purchase Sold merchandise 47,400 on cash Bought merchandise 22,300 cash Withdrew cash 4,500 Paid CHED partial 7,900 Made refund to customer 1,500 Sold merchandise 33,700 on account n/30 Paid the following: Advertising 4,000, Utilities 550, Rent 2,500 and Salaries Inventory 25,000
Transcribed Image Text:R. Quijano Distributors is registered as a single proprietorship with DTI permit as Rommel Quijano. 4,500 May 1 2 2 4 5 5 9 12 13 14 14 15 17 19 20 21 24 27 27 28 29 30 30 Investment of 105,000 Bought merchandise on account from JBM Co. 15,900 3.5/12, n/30 Bought equipment on cash 15,000 Bought supplies on cash 850 Sold merchandise on account 65,000 3.5/10, n/30 Paid freight on May 5 sale 250 Received refund from JBM Co. 1,000 Collected to Customers Paid JBM Co. Bought Merchandise 35,400 Borrowed money to RCBC Bank with promissory note 15,500 Paid Salaries 4,500 Received cash refund from supplier 900 Bought merchandise 2/10, n/30 to CHED Co. 15,250 Paid Freight 150 on May 19 purchase Sold merchandise 47,400 on cash Bought merchandise 22,300 cash Withdrew cash 4,500 Paid CHED partial 7,900 Made refund to customer 1,500 Sold merchandise 33,700 on account n/30 Paid the following: Advertising 4,000, Utilities 550, Rent 2,500 and Salaries Inventory 25,000
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