Accounting Answers

A. Fill out the bank forms with the following transactions:

1. Issue a check payable to Yna Lim on December 15, 2021 in the amount of 43,267.95 to be signed by Rose Vasquez and Greg Roxas, company's treasurer and president respectively.

2. Deposited cash collection from customers on October 12, 2021. Account No. 15950478586.

3. Prepare a withdrawal slip from bank account no. 15950478490 for the amount P35,600 to be used for payment of salaries for October 15, 2021.

A. Fill out the bank forms with the following transactions:

1. Issue a check payable to Yna Lim on December 15, 2021 in the amount of 43,267.95 to be signed by Rose Vasquez and Greg Roxas, company's treasurer and president respectively.

2. Deposited cash collection from customers on October 12, 2021. Account No. 15950478586.

Topic: Accounting Books

Directions: Research for and supply the question which follows. You may input 2-3 sentence/s for the question asked.

How will you differentiate accounting from bookkeeping?

Topic: Accounting Books

Directions: Research for and supply the question which follows. You may input 2-3 sentence/s for the question asked.

How will you differentiate accounting from bookkeeping? 

Analyzing various transactions : Purchase and Sale

The following transactions took place between Yamaha Company, a manufacturer of piano and

RhelJohn Store, a distributor.

1. Yamaha Company shipped 10 units of piano having a list price of P2,500 each to RJ Store.

Terms, 5,2/10,n/30,F.O.B, Shipping point. Freight of P800 was paid by Rj store for the

shipment.

2. RhelJohn store returned 1 unit due to defective quality.

3. RhelJohn Store paid the account in full within the discount period.

REQUIRED: Complete the table below and analyze each transaction as to their effects on the accounting

equation.

Description of each transaction X Account Debited X Account Credited

1. Effect on the Accounting Equation

ASSETS = LIABILITIES =OWNER’S EQUITY

2. Effect on the Accounting Equation

ASSETS = LIABILITIES = OWNER’S EQUITY

3. Effect on the Accounting Equation

ASSETS = LIABILITIES = OWNER’S EQUITY

DIRECTIONS: Prepare a bank deposit slip based on the following given minimum data:

1. Bank branch: BDO Premier Plaza
2. Account number: 01234567890
3. Account Holder name: Samantha Nicole L. Paulines
4. Your deposit = 5000 pesos, your decision on different denominations.

A. Fill out the bank forms with the following transactions:

1. Issue a check payable to Yna Lim on December 15, 2021 in the amount of 43,267.95 to be signed by Rose Vasquez and Greg Roxas, company's treasurer and president respectively.

2. Deposited cash collection from customers on October 12, 2021. Account No. 15950478586.

Analyzing various transactions : Purchase and Sale

The following transactions took place between Yamaha Company, a manufacturer of piano and

RhelJohn Store, a distributor.

1. Yamaha Company shipped 10 units of piano having a list price of P2,500 each to RJ Store.

Terms, 5,2/10,n/30,F.O.B, Shipping point. Freight of P800 was paid by Rj store for the

shipment.

2. RhelJohn store returned 1 unit due to defective quality.

3. RhelJohn Store paid the account in full within the discount period.

REQUIRED: Complete the table below and analyze each transaction as to their effects on the accounting

equation.

Description of each transaction Account Debited Account Credited

1. Effect on the Accounting Equation

ASSETS = LIABILITIES = OWNER’S EQUITY

2. Effect on the Accounting Equation

ASSETS = LIABILITIES = OWNER’S EQUITY

3. Effect on the Accounting Equation

ASSETS = LIABILITIES = OWNER’S EQUITY

SunnyDay Sdn.Bhd. Is a company that sells scarves. Each of its scarves has its own sewn logo. The cost of each logo is ￥27. Darryl, the company's operations manager, received $20 per logo from an outside carrier. SunnyDay Sdn. bhd. Produces 100,000 logos for scarves every month. Its last cost accounting statement is: Direct Material =$550,000, Direct cost=$800,000, Variable overhead=$350,000, Fixed cost=$1,000,000, The Total cost = $2700000.

Give five qualitative factors that Darryl must consider before making a decision. Please give an explanation and appropriate examples to illustrate your factors.

Analyzing transactions as to what account is debited and credited

Robinson Company uses the perpetual inventory system and this is a VAT Registered Company. All

transactions include 12% VAT.

7. Paid the account to X Company in full.

8. Collected the account in no. 4 within the discount period.

9. Purchased merchandise from DDD company for P16,800. Terms, 5,2/10,n/30, FOB Shipping point.

10. Robinson Company paid P800 for freight on transaction no. 9.

11. Paid the account in full within the discount period.

REQUIRED: Using the format given below, prepare an analysis for each transaction as to what is

debited or credited. Analyze also the effects of the transactions on the accounting equation.