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Accounting Entries for March Transactions

The document outlines financial transactions for two accounting methods: perpetual and periodic. It includes entries for cash, inventory, accounts payable, sales, and various expenses throughout the month of March. Each method reflects similar transactions but differs in how inventory and cost of goods sold are recorded.

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Nonito C. Arizaleta Jr.
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© © All Rights Reserved
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102 views3 pages

Accounting Entries for March Transactions

The document outlines financial transactions for two accounting methods: perpetual and periodic. It includes entries for cash, inventory, accounts payable, sales, and various expenses throughout the month of March. Each method reflects similar transactions but differs in how inventory and cost of goods sold are recorded.

Uploaded by

Nonito C. Arizaleta Jr.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Perpetual Periodic

March 1 March 1
Cash 2,000,000 Cash 2,000,000
Dizon, Capital 2,000,000 Dizon, Capital 2,000,000
2 2
Equipment 15,000 Equipment 15,000
Accounts Payable 15,000 Accounts Payable 15,000
2 2
Merchandise Inventory 15,900 Purchases 15,900
Accounts Payable 15,900 Accounts Payable 15,900
3 3
Supplies 1,500 Supplies 1,500
Cash 1,500 Cash 1,500
4 4
Accounts Receivable 15,200 Accounts Receivable 15,200
Sales 15,200 Sales 15,200
Cost of Goods Sold 12,200
Merchandise Inventory 12,200
5 5
Freight-out 700 Freight-out 700
Cash 700 Cash 700
6 6
Accounts Payable 2,500 Accounts Payable 2,500
Merchandise Inventory 2,500 Purchase Returns & Allowances 2,500
7 7
Merchandise Inventory 300 Freight-in 300
Cash 300 Cash 300
8 8
Furniture and Fixture 12,000 Furniture and Fixture 12,000
Accounts Payable 12,000 Accounts Payable 12,000
11 11
Accounts Payable 12,500 Accounts Payable 12,500
Cash 12,250 Cash 12,500
Merchandise Inventory 250 Purchase Discount 250
13 13
Cash 14,896 Cash 14,896
Sales Discount 304 Sales Discount 304
Accounts Receivable 15,200 Accounts Receivable 15,200
14 14
Merchandise Inventory 14,400 Purchases 14,400
Cash 14,400 Cash 14,400
15 15
Salaries Expense 7,500 Salaries Expense 7,500
Cash 7,500 Cash 7,500
16 16
Cash 12,000 Cash 12,000
Notes Payable 12,000 Notes Payable 12,000
17 17
Cash 3,500 Cash 3,500
Merchandise Inventory 3,500 Purchase Returns and Allowances 3,500
18 18
Merchandise Inventory 14,000 Purchases 14,000
Accounts Payable 14,000 Accounts Payable 14,000
20 20
Cash 700 Cash 700
Merchandise Inventory 700 Purchase Returns and Allowances 700
23 23
Cash 16,400 Cash 16,400
Sales 16,400 Sales 16,400
Cost of Goods sold 10,500
Merchandise Inventory 10,500
26 26
Merchandise Inventory 12,300 Merchandise Inventory 12,300
Cash 12,300 Cash 12,300
27 27
Accounts Payable 9,000 Accounts Payable 9,000
Cash 9,000 Cash 9,000
29 29
Cash 1,500 Cash 1,500
Merchandise Inventory 1,500 Purchase Returns and Allowances 1,500
30 30
Accounts Receivable 13,700 Accounts Receivable 13,700
Sales 13,700 Sales 13,700
Cost of Goods sold 11,000
Merchandise Inventory 11,000
31 31
Advertising Expense 2,000 Advertising Expense 2,000
Utilities Expense 4,000 Utilities Expense 4,000
Rent Expense 5,000 Rent Expense 5,000
Cash 11,000 Cash 11,000

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