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Department of Education
Region V- Bicol
SCHOOLS DIVISION OF CATANDUANES
CALATAGAN HIGH SCHOOL
Virac, Catanduanes
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1. Record the following selected transactions of Real Department Store, a merchandising firm owned and managed by
Miss Topaz
2017
Jan 5 - Purchased merchandise, P1,500 from Northern Trading. Terms: Cash
10 - Purchased merchandise from Glad Earth Co. for P3,000 on account
15 - Purchased merchandise from Miles Corporation for P5,000. Terms: 25%
Downpayment, balance on account.
20 - Purchased store supplies, P2,000 from VFE Supply. Terms: Cash
23 - Purchased merchandise from ABC Inc. P3,000. Terms 30-day promisory note
25 - Purchased stores equipment from Singer Marketing P15,000. Terms: 20%
Downpayment balance, a 60-day promisory note.
28 - Purchased goods from ACE Marketing. P8,000. Terms: 25% downpayment,
Balance 45-day promisory note.
2. Record the following selected transactions of PAK Store
2017
Feb 10 - Purchased goods from AYO Co Corporation for P10,000. Terms: less 10% and
5%. 2/10, 1/20, n/60.
12 - An allowance was granted by AYO Co Corporation due to wrong specification,
P500.
22 - Paid the account in full.
2017
4. 2017
April 10 - Purchased goods from AYOSNA for P12,000. Terms. Less 5%, 2/5. 1/10, n/30
2017
May 5 - Purchased merchandise for P5,000 from Glad Earth Commercial. Terms: 1/20, n/60
6 - Purchased merchandise from Southern Trading Inc. for P2,800. Terms: less 10%,n/30
7 - Purchased merchandise from Shaman Enterprises for P5,000. Terms: 20% downpayment,
Balance n/60
For P200
11 - Purchased a cash register from North East Equipment company for P5,500. Terms: less
23 - Miss Tina Go withdrew cash of P500 and merchandise acquired at a cost of P500 and
27 - Purchased wrapping papers and tine for P1,000 from Ace Commercial. Terms: COD
6. Record the following selected transactions of Real Department Store, a merchandising firm, owned and managed by
Miss Marquez
2017
3 - Sold merchandise to Moby Enterprises for P3,500. Terms: P500 downpayment, balance,
1/10, n/30.
4 - Sold merchandise to Living Company, P2,500. Terms a 30-day, 18% promisory note
2017
Feb 2 - Sold merchandise to Sabrina Mdse for P5,000. Terms: 2/5. n/30.
3 - Sold merchandise to Sta. Clara Cooperative for P10,000. Terms: a 30-day 12% note
6 - Sold an equipment for P2,500 cash. The equipment was acquired at a cost of P4,000
11 - Sold merchandise to Sarmiento Fish Traders for P6,000. Terms: 50% downpayment,
2017
4 - Purchased merchandise from Deluxe Novelties for P5,000. Terms: 2/10, n/30.
5 - Received a cash refund of P150 for defective merchandise returned to supplier on purchase
Of June 1
7 - Purchased office furniture from Cresta Furnitures for P2,500. Terms: on account.
16 - Received a cash refund for P50 for office supplies returned to supplier due to wrong
Specifications.
20 - Sold merchandise to Century Trading for P10,000. Terms: 20% downpayment, a 30-day
27 - The owner, Mr. Cruz, withdrew merchandise purchased at a cost of P500 and priced to
Sell at P780.
2017
4 - Purchased merchandise from Kato Manufacturing Company for P2,500. Terms: 2/10.
n/30.
18 - Granted credit of P50 to Quality Store as allowance for the slightly defective items sold
19 - Purchased a cash register from Eastern Trading Corporation for P5,000. Terms: n/30.
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