Assignment

MIS320.1

SUBMITTED TO: Kabid Md Surid,

Department of Management

Date of Submission:

06.01.2021

Submitted By:

Name: Student ID:

Sk. Shahriar Rahman 1712886630
Dewan Tauhidul Haque Tonoy 1711511630
Md. Tausiful Hasan 1712020630
Md. Sakib Raihan 1721362030
Answer to the Question No: 06

Chart of Account (COA) of ‘XYZ Phones’ are shown below:

Profit and Loss Accounts:

Account Number Short Text Long Text
 600000 Sales Revenue Sales Revenue
610000 Sales Discount Sales Discount

650000 Cust. Serv. Revenue Customer Service Revenue.

720000 RM Consumption Expense Raw Material Consumption
Expense
720100 FP Consumption Expense Finished Product Consumption
Expense
740000 Supplies Expense Supplies Expense
740100 Utilities Expense Utilities Expense

740300 Rent Expense Rent Expense

740500 Payroll Expense Payroll Expense-Office
740600 Payroll Expense Payroll Expense-
Administrative
740700 Sales Expense Sales Expense

740800 Tax Expense Tax Expense- Property

740900 Tax Expense Tax Expense- Income

741100 Labor Expense Labor Expense

741300 IT Expense Account Information Technology

Expense Account
741500 Utilities Utilities (electricity & phone)

780000 R&D Research and Development

790000 COGS Cost of Goods Sold

Balance Sheet Accounts:

Account Number Short Text Long Text
100000 Bank Bank Account
101000 Alt Bank Alternate Bank Account
110000 Trade Receivables Trade Accounts receivables
200000 Inv-RM Inventory-Raw Materials
200100 Inv-FG Inventory-Finished Goods
200400 Inv-PS Inventory-Production
Supplies
 200600 Inv-OP Inventory-Operating Supplies
210000 PP Ins Prepaid insurance
215000 PP Rent Prepaid Rent
220000 N/R Notes Receivable
220100 Land Land
220200 Prod Mach/Equip/Fixt Production Machinery,
Equipment and Fixtures
220300 Accum. Depr. Accumulated Depreciation-
Production Mach. Equip.
and Fixtures
220400 Office Furniture Office Furniture
220500 Accum. Depr. Accumulated Depreciation-
Office Furniture
220600 Office Equip & Compu Office Equip. and Computers
220700 Accum. Depr. Accumulated Depreciation-
Office Equipment
220800 Vehicles Vehicles
220900 Accum. Depr. Accumulated Depreciation-
Vehicles
221100 Intangible Assets Intangible Assets
300000 Payables-TA Payables-Trade Accounts
322000 Unearned Revenues Unearned Revenues
329000 Common Stock Common Stock
330000 Retained Earnings Retained Earnings

General Ledger accounts from the given transactions are shown below:

Camera/Raw Materials Account

Debit Credit

Dec 1, 100000

Purpose of the Account: Since ‘XYZ Phones’ bought the camera lenses on December 1, the
Camera/Raw Materials account is debit.
 Accounts Payable

Debit Credit

Dec 2, 100000 Dec 1, 100000

Purpose of the Account: Since on December 1, the camera was bought on credit, the Accounts
Payable account is Credit.
On December 2, the payable amount was cleared so the Accounts Payable account was debited.

Cash

Debit Credit
Dec 3, 70000
Dec 2, 100000
Dec 7, 200000

Purpose of the Account: On December 2, the payable amount was cleared via cash, that’s why
Cash account was credited.
On December 3, sales on cash were performed, so the Cash account was debited.
On December 7, the Receivable amount was received in cash, so the Cash amount was debited.

Sales Revenue

Debit Credit
Dec 3, 70000

Dec 5, 200000
Purpose of the Account: On December 3 & 5, sales were performed, so the sales account is
credited.
Accounts Receivable

Debit Credit

Dec 5, 200000 Dec 7, 200000

Purpose of the Account: On December 5, sales were performed on credit, that’s why Accounts
Receivable account was debited.
On December 7, the receivable amount from December 5 was cleared, so the Accounts
Receivable account was credited.

Answer to the question No: 7

Material Master Data
Financial Accounting View
Vendor Material Material type Material Local Value of Moving Standard
name Material group group currency inventory in average average
stock
Mingxin Motherboar Raw material 00203 USD $80600 - $62
Industria d
l ltd.
Sk Hynix Camera Raw material 60200 USD $94900 - $73
Inc.
Toshiba Rom Raw material 022 USD $39000 - $30
Corp.
Samsung Display Raw material 022 USD $86,450 - $65.50
ltd.

Purchasing View
Material Product delivery Unboxing time Inspection time Tot. Underdl. Tot. Overdl.
time
Motherboard 20days 2days 3days 5% 5%
Camera 20days 2days 3days 10% 10%
 Rom 10days 2days 2days 10% 10%
Display 15days 2days 2days 10% 10%

Storage View
Material Temp. condition Shelf life Storage type
Motherboard 20° -80° C 10 years Box
Camera 20° -80° C 5 years Box
Rom 20° -80° C 10 years Box
Display 20° -80° C 5 years Box

Vendor Master Data

General Data
Raw Material Vendor’s Name Address Contact no.
Camera Sk Hynix Inc. Zhu Zhou Lu 153hao 2hao Lou 2ceng, 13013854290
Shanghai
Rom Toshiba Corp. Gui Cheng Xing Ye Xin Cun Xing 13083524068
Hua Yuan C6-701, Fushan
Motherboard Mingxin Industrial Shuang Quan Bao Qing Lin Yuan 2-7- 13013898278
ltd. 202, Haidian
Display Samsung ltd. 1103-3, Songpapaintaun 11 82-4-218-
danjiapateu, Jangji-dong, Songpa-gu, 6597
Seoul

Accounting Data
Bank key Bank acc. No. Acct. holder Recon. Head office Sort Cash
Acc. key mgmnt
group
0313 084568798426 Sk. Hynix Inc. 130001 Seoul, Korea A1
0525 078778894221 Toshiba 130002 Tokyo, japan A2
0660 012446852941 Mingxin Industrial 130005 Guangzhou, A3
Ltd. China
0444 07798562125 Samsung 130006 Seoul, Korea A5

Purchasing Data
Vendor Purch. Order currency Terms of Incoterms Description
organization payment
88899 ANDR USD ZB01 CFR Costs and freight
45456 AR10 USD ZB01 CFR Costs and freight
32487 AR11 USD ZB01 CFR Costs and freight
77846 HP11 USD ZB01 CIF Costs, insurance &
freight