Professional Documents
Culture Documents
Purchase Discounts
Purchase Discounts
- Ito yung kapag bumibili yung seller or retailer sa supplier ng product, pero di
muna babayaran or inutang lang muna and doon nagooffer yung supplier ng
discount, its either kasi bulto bulto yung binili sa kanya or para mahiyakat yung
retailer na makapagbayad agad ng mas maaga.
- So sa book guys, dinifine din diyan na counterpart ng purchase discount yung
sales discount SO BAKIT? Kasi almost same lang naman sila ng function even
computation nga kung pano sila makuha. Ang kinaibahan lang, sa sales
discount, ang nagooffer ng discount yung retailer sa end-customers niya, so
usually nagkakaroon ng reduction sa price ng item in order na mabili agad yung
goods. Sa purchase discount, wholesaler yung nagooffer ng discount sa retailers
within a given period of time and sometimes kapag nakakakuha ng purchase
discounts, naeencourage din yung mga retailers na magoffer ng sale discounts
sa customers nila.
- And of course, hindi naman nagbibigay ng discount yung mga wholesaler and
even retailer kasi trip lang nila, syempre marketing strategy din yon.
- Another example yung nasa book. Assuming that on September 17, 20xx yung
price daw ng merchandise na nabili is 1 million. Then term 7 yung ginamit rito
which is nasa page 253 yata. Yung 20 and 5, 3/10, n/30. So, trade series
discount to.
- First trade discount, 20 percent daw. So kunin lang 20 percent dito sa 1 million. 1
million times .02 edi 200,000. (FURTHER EXPLANATION ON YOUR OWN.)
1. DATE OF PURCHASE
So debited yung mga pinurchase mo which is 760,000 YUNG HALAGA,
yung account payable naman, syempre credited kasi inutang mo e.
2. So next kapag nabayaran mo na and within the discount period, magiging
debited na yung Account Payable kasi nga wala ka ng utang. Then may
22,800 ka na nakuhang discount so yung babayaran mo 737,200 nalang
which is credited.
3. Kapag naman nagbayad ka beyond the discount period pero within the credit
period, ganon din debited yung account payable tapos credited yung
kabuuang babayaran mo na 760k, wala ng cash discount yon.
OWNER’S WITHDRAWAL OF MERCHANDISING
Kapag nagwithdraw yung owner ng goods or anything from his business for
personal use, Drawings yung tawag don. So syempre yung owner’s equity
nababawasan. Ayan…yung,magiging accounting entry, edi-debit mo ngayon yung
drawing account. Kasi diba sabi sa principles ng Credit and Debit, pag nagincrease
yung drawing account, recorded yon as debit. Then yun nga, magkakaroon ng reduction
sa capital ng business. Yung purchases, credited--- kasi yung mga asset --- item or
goods na nawithdraw, syempre lumalabas yon sa business for personal use ng owners.
Unahin natin yung perpetual guys, dito laging inuupdate yung inventory so computed
every transaction or every pageend ng business day. Kapag nababawasan or may bibili
ng mga produkto, nirerecord agad ng mga accountant right away na nabawasan yung
item na binili.
So ano nga ba yung common na business na perpetual inventory system yung
sinusunod? Mostly, kapag yung product na binebenta nila, mamahalin tapos low in
volume gaya ng mga jewelrie stores, nagbebenta ng kotse, real estate etc. Bakit
perpetual? Bakit kailangang laging iupdate agad yung inventory kapag nababawasan,
kasi guys yung nature ng produkto nila, mahal, ibig sabihin kapag may nawalang isa,
Malaki yung mawawala sa company.