Accounting Problems: A. Basarte Merchandising

This document presents a series of accounting problems related to A. Basarte Merchandising, focusing on calculating net sales, gross and net purchases, cost of goods sold, gross profit, profit, and ending capital balance. Additionally, it includes a depreciation problem for a computer, requiring the calculation of annual depreciation, depreciation expense for a specific period, book value, and gain or loss on disposal. The problems provide a comprehensive practice for students in accounting principles and financial statement analysis.

4.
The partial trial balance of A. Basarte Merchandising for the year ended
December 2012 is given below:
Debit Credit
A. Basarte, Capital P357,200
A. Basarte, Drawing P50,000
Sales P1,857,000
Sales Ret. & Allowances 15,000
Sales Discounts 8,000
Purchases 950,000
Purchase Ret. & Allowances 5,000
Purchase Discounts 3,000
Freight – In 6,000
Freight – Out 2,000
Salemen’s Commission 45,000
Merchandise Inventory:
January 1, 2012 P250,000
December 31, 2012 190,000
a. How much is net sales
b. How much is gross purchases
c. How much is net purchases
d. How much is the cost of goods
available for sale
e. How much is the cost of goods sold

f. How much is the gross profit
g. How much is profit
h. How much is capital ending balance
of A. Basarte?
\5.
On September 1, 2011, A Enterprises bought a brand new computer costing
P65,000. It has an estimated useful life of 5 years and a scrap value of P5,000
at the end of its life. The accounting period ends of December 31, 2011.
a. How much is the annual depreciation
of the computer.
b. How much depreciation expense that
should be recorded at the end of the accounting period on December 31, 2011.
c. How much is the book value of the
computer as of December 31, 2011.
d. If the computer will be sold on
January 1, 2012 at an amount of P62,000, how much is the gain or loss on
disposal?