I-05.02 Worksheet

I-05.02 Worksheet - price allowances, PKR 5,000,000. Made...

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Name: Date: Section: I-05.02(a,b) GENERAL JOURNAL Page Date Accounts Debit Credit (a) Purchased cotton for 80,000,000 Pakistan Rupees (PKR), on account. Returned cotton for credit on account, PKR 3,000,000. Agreed with suppliers to purchase price allowances, PKR 5,000,000. Made payment on PKR 60,000,000 of open accounts within discount period, and received PKR 600,000 purchase discounts. Made payment on PKR 12,000,000 of open accounts outside of discount period, and lost PKR 120,000 purchase discounts. 1 of 2
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Name: Date: Section: I-05.02(a,b) GENERAL JOURNAL Page Date Accounts Debit Credit (b) Purchased cotton for 80,000,000 Pakistan Rupees (PKR), on account. Returned cotton for credit on account, PKR 3,000,000. Agreed with suppliers to purchase
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Unformatted text preview: price allowances, PKR 5,000,000. Made payment on PKR 60,000,000 of open accounts within discount period, and received PKR 600,000 purchase discounts. Made payment on PKR 12,000,000 of open accounts outside of discount period, and lost PKR 120,000 purchase discounts. 2 of 2 Name: Date: Section: I-05.02(c,d) (c) CTC Income Statement For the Month Ending June 30, 20XX (all amounts in thousands of PKR) Revenues Net sales 97,000 Cost of goods sold Gross profit Expenses Net income 1 of 2 Name: Date: Section: I-05.02(c,d) (d) CTC Income Statement For the Month Ending June 30, 20XX (all amounts in thousands of PKR) Revenues Net sales 97,000 Cost of goods sold Gross profit Expenses Net income 2 of 2...
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I-05.02 Worksheet - price allowances, PKR 5,000,000. Made...

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