Nurlaily Septyahaqi

F1320061 – Kelas A
S1 Akuntansi Transfer
AKUNTANSI KEUANGAN LANJUTAN II
LATIHAN 2 W10-26
a. Home office books (adjusting entries)
Dublin branch $19,000
Branch profit and loss $19,000
(Sales – (inventory beginning + shipment form home office – inventory ending) – Expense)
Radford branch $21,700
Branch profit and loss $21,700
(Sales – (inventory beginning + shipment form home office – inventory ending) – Expense)
Blacksburg branch $57,500
Branch profit and loss $57,500
(Sales – (inventory beginning + shipment form home office – inventory ending) – Expense)
Unrealized profit in branch inventories $93,800
Branch profit and loss $93,800
($103,100 - $9,300 unrealized = $93,800 realized)
Home office books (closing entries)
Branch profit and loss $192,000
Shipments to Dublin branch 300,000
Shipments to Radford branch 250,000
Shipments to Blacksburg branch 400,000
Inventory (ending) 110,900
Inventory (beginning) $60,900
Purchases 1,000,000
Expenses 20,000
Retained Earnings 172,000
b. Combined income statement for Fast-Stop for 2006
Fast-Stop Company
Income Statement
for the year ended December 31,2006
Sales $1,308,000
Cost of sales:
Inventory-beginning $ 141,900
Purchases 1,000,000
Goods available for sale $ 1,141,900
Inventory-ending 203,900 938,000
Gross profit 370,000
Operating expenses 198,000
Net income $ 172,000