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answer with solution. thanks 12. In 2019, BFF Company purchased goods worth P150,000. There were P40,000 unsold goods at the end of the year but
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12. In 2019, BFF Company purchased goods worth P150,000. There were P40,000 unsold goods at the end of the year but old stock brought forward from last year's purchases was P10,000. Cost of sales was A. P140,000 B.P120,000 C. P110,000 D. P180,000 13. On October 1, 2019, FXT Company purchased P6,000 worth of goods on terms of 2/15,n/30. Freight of P500 was prepaid by the seller under the term FOB shipping point. Goods worth P1,000 were returned on October 2 and the account was paid on October 3. The discount received from the seller was A. P100 B. P110 C. P90 D. 120 14. On May 1, 2019 TXT Company purchased P6,000 worth of goods on terms of 2/15,n/30. Freight of P500 was prepaid by the seller under the term FOB shipping point. Goods worth P1,000 were returned on May 2 and the account was paid on May 10. How much is the net cost of purchases? A. P4,900 B.P5,400 C. P5,900 D. P4,880 15. SSS Company purchased goods worth P200,000 and got a trade discount of P4,000. The accountant should A. debit to Purchase discount for P4,000 and debit to Purchases for P196,000 B. debit to Purchase discount for P4,000 and debut to Accounts payable for P196,000 C. debit to Purchases for P200,000 D. debit to Purchases for P196,000Step by Step Solution
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