PROVIDE THE CHART OF ACCOUNT Perpetual MethodNovember 12 - Bought merchandise on account from DOWNTOWN supply 15,900 terms2/10,n/30.-Bought supplies on cash basis 700.00-Bought Computer equipment for 10,000 cash.-Sold merchandise on account 15,200, FOB Destination, terms 2/10, n/30. The costof merchandise sold was 12,200.00.- Paid 200 for freight on November 4 sales.-Received credit from DOWNTOWN supply for merchandise returned 300.003561314-The business, Miraflor Proprietorship, was registered as a single proprietorshipwith the Department Trade and Industry. Miraflor invested P39,000.00.151617182023262728293030- Paid DOWNTOWN supply.- Collected from November 4 customers.- Bought merchandise on cash basis for 14,400.- Salaries paid 1,500.00-Borrowed money from LandBank, signed promisory note 12,000.-Received refund from supplier on cash purchase of November 14, P 500.00.- Bought merchandise from MAZDA, 14,200, FOB shipping point terms, 2/10, n/30.- Paid freight on Novemebr 18 purchase, P 700.00- Sold Merchandise for P 16,400. The merchandise sold had a cost of 10,500-Bought merchandise for cash P 12,300.- Paid MAZDA on November 18, P 9,000.00. No discount allowed on partial payment.Miraflor got cash from the business worth P 2,008.00.Made refund to cash customers for defective merchandise P 900.00- Sold merchandise on account, P 13,700.00, n/10, n/30. Cost of merchandise soldP 11,000.00- Paid the following:SalariesAdvertisingUtilitiesRentP 1,500P 1,000P 400P 3,500

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Description: PROVIDE THE CHART OF ACCOUNT Perpetual MethodNovember 12 - Bought merchandise on account from DOWNTOWN supply 15,900 terms2/10,n/30.-Bought supplies on cash basis 700.00-Bought Computer equipment for 10,000 cash.-Sold merchandise on account 15,200, F

COA stands for chart of accounts (COA) which is tool of accounts or finance that index of each and…

Business

Accounting

November -The business, Miraflor Proprietorship, was registered as a single propr with the Department Trade and Industry. Miraflor invested P39,000.00 2 - Bought merchandise on account from DOWNTOWN supply 15,900 term 2/10,n/30. Bought supplies on cash basis 700.00 Bought Computer equipment for 10.000 cash.

November -The business, Miraflor Proprietorship, was registered as a single propr with the Department Trade and Industry. Miraflor invested P39,000.00 2 - Bought merchandise on account from DOWNTOWN supply 15,900 term 2/10,n/30. Bought supplies on cash basis 700.00 Bought Computer equipment for 10.000 cash.

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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