Pa Leonipanna

Nama: Leonita Wulandari Panna
Nim: 220611020183
Kelas: 1B-3 manajemen
matakuliah: pengantar akuntansi
(a) COST OF GOODS AVAILABLE FOR SALE

Date Explanation Units Unit Cost Total Cost
1 2 $
Jan. 1 Beginning Inventory 00 10 21.000
3 2 72.0
Mar. 15 Purchase 00 40 00
2 2 50.0
Jul. 20 Purchase 00 50 00
3 2 81.0
Sept. 4 Purchase 00 70 00
1 2 29.0
Dec. 2 Purchase 00 90 00
1.0 $
Total 00 253.000
(b) FIFO
(1) Ending Inventory (2) Cost of Goods Sold
Total €
Date Units Unit Cost Cost Cost of goods available for sale 253.000
€ €
Sept. 4 200 270 54.000 Less: Ending inventory 83.000
€
Dec. 2 100 290 29.000 Cost of goods sold 170.000
€
Total 400 83.000
Proof of Cost of Goods Sold

Total
Date Units Unit Cost Cost
€ €
Jan. 1 100 210 21.000
Mar. 15 300 240 72.000
Jul. 20 200 250 50.000
Sept. 4 100 270 27.000
Total 700 170.000
AVERAGE COST
(1) Ending Inventory (2) Cost of Goods Sold
€ €
253.000 ÷ 1.000 = 253 Cost of goods available for sale 253.000
Unit Total
Units Cost Cost Less : Ending inventory 75.900
€ € €
300 253 75.900 Cost of goods sold 177.100
Proof of Cost of Goods Sold

€
700 units X 253 = 177.100
(c) 1. FIFO methods for ending inventory is more than the avarage methods with the amount (83.000)
2. Average methods for cost of goods sold is more than fifo methods with the amount (177.100)
l
A
COST OF GOODS AVAILABLE FOR SALE
DATE EXPLANATION UNITS UNIT COST TOTAL COST

March 1 Begining inventory 1.500 $ 7 $10.500
5 Purchase 3.500 8 28.000
13 Purchase 4.000 9 36.000
21 Purchase 2.000 10 20.000
26 Purchase 2.000 11 22.000
13.00
TOTAL 0 $116.500
(B) FIFO
(1) Ending inventory (2) COST OF GOODS SOLD

COST OF GOODS
UNIT
AVAILABLE FOR SALE $ 116.500
DATE S UNIT COST TOTAL COST
March 26 2.000 11 $ 22.000 Less: Ending
21 1.000 10 10.000 inventory 32.000
3.000 $32.000 COST OF GOODS SOLD $84.500
13.000 - 10.000 =
3.000
PROOF OF COST OF GOODS SOLD

UNIT
DATE UNITS COST TOTAL COST
March 1 1.500 $ 7 $ 10.500
5 3.500 8 28.000
13 4.000 9 36.000
21 1.000 10 10.000
10.000 $84.500
AVERAGE -COST
(1) Ending inventory (2) COST OF GOODS SOLD
$116.500 ÷13.000=$8.9615 Cost of goods
Available for sale $ 116.500
TOTAL
UNITS UNITS COST COST less: ending
$ 3.000 $ 8.9615 26.885 inventory 26.885
Cost of goods sold $89.615
* Rounded to nearest dollar

PROOF OF COST OF GOODS SOLD
10.000 UNITS X 8.9615 =89.615
(C) 1. As shown in (b) above, FIFO produces the highest inventory

amount, $32.000
2. As shown in (b) above, average - cost produces the highest
cost of goods sold, $ 89.615
P5-2A
Apr. 2 Purchased merchandise on account from Dakota Supply Co. $6,900, terms 1/10, n/30.
4 Sold merchandise on account $5,500, FOB destination, terms 1/10, n/30. The cost
of the merchandise sold was $4,100.
5 Paid $240 freight on April 4 sale.
6 Received credit from Dakota Supply Co. for merchandise returned $500.
11 Paid Dakota Supply Co. in full, less discount.
13 Received collections in full, less discounts, from customers billed on April 4.
14 Purchased merchandise for cash $3,800.

16 Received refund from supplier for returned goods on cash purchase of April 14, $500.
18 Purchased merchandise from Skywalker Distributors $4,500, FOB shipping point,

terms 2/10, n/30.
20 Paid freight on April 18 purchase $100.
23 Sold merchandise for cash $6,400. The merchandise sold had a cost of $5,120.
26 Purchased merchandise for cash $2,300.
27 Paid Skywalker Distributors in full, less discount.
29 Made refunds to cash customers for defective merchandise $90. The returned
merchandise had a scrap value of $30.
30 Sold merchandise on account $3,700, terms n/30. The cost of the merchandise sold
was
$2,800.
Olaf Company's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts
Receivable, No. 120 Merchandise Inventory, No. 201 Accounts Payable, No. 311 Common
Stock, No. 401 Sales, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, No.
505 Cost of Goods Sold, and No. 644 Freight-out.
Instructions
A. Journalize the transactions using a perpetual inventory system.

B. Enter the beginning cash and common stock balances, and post the transactions.
(Use J1 for the journal reference.)
C. Prepare the income statement through gross profit for the month of April 2011.
Answer
(a)
General journal
J1
Date Account titles and explanation ref debet credit

Apr. 2 merchandise inventory..................... 120 6.900
Accounts payable...................... 201 6.900
4 accounts receivable......................... 112 5.500
Sales....................................... 401 5.500
Cost of goods Sold............................ 505 4.100
Merchandise inventory.......... 120 4.100
5 freight out........................................ 644 240
Cash........................................ 101 240
6 accounts payable............................. 201 500
Merchandise inventory.......... 120 500
11 accounts payable (6.900-500)......... 201 6.400
Merchandise inventory
(6.400 x 1%)......................... 120 64
Cash....................................... 101 6.336
13 cash.................................................. 101 5.445
Sales discounts (5.500 x 1%)........... 414 55
Accounts receivable.............. 112 5.500
14 merchandise inventory................... 120 3.800
Cash..................................... 101 3.800
16 cash................................................. 101 500
Merchandise inventory....... 120 500
18 merchandise inventory.................. 120 4.500
Accounts payable................ 201 4.500
20 merchandise inventory................... 120 100
Cash.................................... 101 100

23 cash................................................. 101 6.400
Sales................................... 401 6.400
Costs of goods sold......................... 505 5.120
Merchandise inventory...... 120 5.120
26 merchandise inventory................... 120 2.300
Cash.................................... 101 2.300
27 accounts payable............................ 201 4.500
(4.500 x 2 %)................... 120 90
Cash................................... 101 4.410
29 sales returns and allowences........ 412 90
Cash................................... 101 90
Merchandise inventory................. 120 30
Cost of goods sold............. 505 30
30 accounts receivable...................... 112 3.700
Sales.................................. 401 3.700
Costs of goods sold....................... 505 2.800
Merchandise inventory... 120 2.800
(b)
Cash 101
Date explanation ref debit credit balance
Apr. 1 balance √ 9.000
5 J1 240 8.760
11 J1 6.336 2.424
13 J1 5.445 7.869
14 J1 3.800 4.069
16 J1 500 4.569
20 J1 100 4.469
23 J1 6.400 10.869
26 J1 2.300 8.569
27 J1 4.410 4.159
29 J1 90 4.069
Accounts receivable
112
Apr. 4 J1 5. 500 5. 500
13 J1 5.500 0
30 J1 3.700 3.700
120
Apr. 2 J1 6.900 6.900
4 J1 4.100 2.800
6 J1 500 2.300
11 J1 64 2.236
14 J1 3.800 6.036
16 J1 500 5.536
18 J1 4.500 10.036
20 J1 100 10.136
23 J1 5.120 5.016
26 J1 2.300 7.316
27 J1 90 7.226
29 J1 30 7.256
30 J1 2.800 4.456
Accounts payable 201
Apr. 2 J1 6.900 6.900
6 J1 500 6.400
11 J1 6.400 0
18 J1 4.500 4.500
27 J1 4.500 0
Share capital ordinary

311
Apr. 1 balance J1 9.000

Sales
401
Apr. 4 J1 5.500 5.500
23 J1 6.400 11.900
30 J1 3.700 15.600
Sales returns and allowances

412
Apr. 29 J1 90 90
Sales discounts
414
Apr. 13 J1 55 55
Costs of goods sold

505
Apr. 4 J1 4.100 4.100
23 J1 5.120 9.220
29 J1 30 9.190
30 J1 2.800 11.990
Freight-out
644
Apr. 5 J1 240 240
(c)
OLAF DISTRIBUTING COMPANY
Income statement (Partial)
For the month ended april 30, 2011
Sales revenues
Sales.......................................................................................... 15.600
Less: sales returns and allowences.......................................... 90
Sales discount................................................................. 55
145
Net sales.................................................................................
15.455
Cost of goods sold................................................................................

11.990
Gross profit..........................................................................................
3.456
(a)
Starz departement store
Income statement
For the year ended december 31, 2017
Sales revenues
Sales..................................................................................
724.000
Less: sales returns and allowences...................................
8.000
Net sales..........................................................................
716.000
Costs off goods sold..................................................................
412.700
Gross profit...............................................................................
303.300
Operating expenses
Sales and wages expense.................................................. 108.000
Inventory........................................................................... 75.000
Sales commissions expens.................................................. 10.200
Depr.expense-equipment................................................... 86.500
Utilities expense.................................................................. 10.000
Depr.expense-buildings....................................................... 266.500
Insurance expense.............................................................. 0
Property tax expense......................................................... 0
Total operating expense.....................................
556.200
Income from operations.................................................................
252.900
Other income and expense
Interest revenue......................................................................
4.000
Interest expense.............................................................................
3.000
Net income.....................................................................................
245.900
Retained earnings statements
Retained earningis, january 1....................................... 64.600
Add: net income........................................................... 132.200
196.200
Less: devidens............................................................... 24.000
Retained earnings, december 31.............................. 172.200

Statement of financial positions
Assets
Property, plant, and equipment
Building............................................................ 290.000
Less: accumulated depr-building.................... 42.700 247.300
Equipment....................................................... 110.00
Less: accumulated depr-equipment................ 29.600 80.400
327.700
Current assets
Prepaid insurance........................................... 2.400
Merchandise inventory................................... 75.000
Accounts receivable........................................ 50.300
Cash................................................................. 23.800
Total assets.....................................
151.500
479.200
Equity and liabilities

Equity
Share capital-ordinary........................................ 112.000
Retained earnings............................................. 172.200 284.200
Non-current liabilities
Mortgage payable............................................. 80.000
Current liabilities
Accounts payable.............................................. 77.300
Mortgage payable due next year....................... 20.000
Interest payable................................................ 5.100
Property taxes payable..................................... 4.800
Sales commisions payable................................ 4.300

Special journal
(Sales Journal and Sales Return & Allowance Journal)
2001 Regular & Private - BIEK
The following transactions were completed by Mr. Baig during March 2001:
March 2: Sold merchandise on account for Rs.1,350 to Mr. Rizvi.
March 9: Sold merchandise on account for Rs.1,750 to Mr. Arain
March 15: Detective merchandise returned by Mr. Rizv1 RS.150.
March 18: Sold merchandise on account for Rs.2,000 to Mr. Shaikh.
March 19: Inferior merchandise returned ov Mr. Arain Rs.200.
instructions
A. Enter the above transactions in the Sales Journal (Page 3) and Sales Return &
Allowance
a. Journal (Page 5).
B. Post them to each customer's account separately in the accounts receivable
subsidiary ledger in self-balancing form.
C. Prepare a schedule of accounts receivable
Answer
MR. BAIG
SALES JOURNAL
FOR THE MONTH MARCH 2001 (PAGE 3)
Date Invoice No. Name of p/r Amount

customers
2 march Mr. Rizvi 1.350
9 march Mr. Arain 1.750
18 march Mr. Shaikh 2.000
31 march Accounts 5100

receivable Dr.
Sales cr
MR. BAIG
SALES RETURN AND ALLOWENCES JOURNAL
FOR THE MONTH MARCH 2001 (PAGE 5)
Date Invoice No. Name of p/r Amount

customers
15 march Mr. Rizvi 150
19 march Mr. Arain 200
31 march Sales returns and 350

allowences Dr.
Accounts
receivable Cr
MR. BAIG
SUBSIDIARY LRDGER- ACCOUNTS RECEIVABLE
FOR THE MONTH OF RECEIVABLE
FOR THE MONTH OF MARCH 2001
Mr. Rizvi
Date Invoice No pparticulars P/R Debit Credit Balance

2 march Sales SJ-3 1.350 1.350
15 march Sales SRJ-5 150 1.200
returns
Mr. Arain

9 march Sales SJ-3 1.750 1.750
19 march Sales SRJ-5 200 1.550
returns
Mr. shaikh

18 march Sales SJ-3 2.000 2.000
MR BAIG
SCHEDULE OF ACCOUNTS RECEIVABLE
FOS THE MONTH ENDED 31 MARCH 2001

Name of customers Amount
Mr. Rizvi 1.200
Mr. Arain 1.550
Mr. Shaikh 2.000
Total 4.750
(Cash Payment Journal)
1996 Private - UOK
Following payments were made by Mr. Aslam for the month of July 1995, credit terms are
3/10, n/30;
July 8 Paid Asghar Company invoice due for Rs.1,500 dated July 2, issued cheque no. 234.
July 12 Paid freight charges on merchandise purchased Rs.120, issued cheque no. 235.
July 15 Paid Feroze Company invoice of Rs.4,500 dates July 8 less returns of Rs.500. Issued
cheque no. 236.
July 22 Purchased merchandise for cash Rs.2,000 and issued cheque no. 237.
July 23 Mr. Aslam withdrew Rs.500 from business. Issued cheque no. 238.
Instructions
(i) Record the transactions for July using cash payments journal.
(ii) (ii) Foot and rule the journal.
Answer
MR ASLAM
CASH PAYMENT JOURNAL
Date Cheque Accounts debited Acc (cr) Accounts Purchases Other Bank (cr) Purchase
No payable (dr) accounts discount (dr)
(dr) (dr)
8 july 234 A/P (ashgar co.) 1.500 1.455 45
12 july 235 Freight charges 120 120
15 july 236 A/P (feroze Co.) 4.000 3.880 120
22 july 237 Purchases 2000 2.000
23 july 238 Drawings 500 500
5.500 2.000 620 7.955 165

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Pa Leonipanna

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Nama: Leonita Wulandari Panna

Kelas: 1B-3 manajemen

matakuliah: pengantar akuntansi

(a) COST OF GOODS AVAILABLE FOR SALE

Proof of Cost of Goods Sold

Mar. 15 300 240 72.000

Jul. 20 200 250 50.000

Sept. 4 100 270 27.000

Total 700 170.000

Proof of Cost of Goods Sold

DATE EXPLANATION UNITS UNIT COST TOTAL COST

(1) Ending inventory (2) COST OF GOODS SOLD

PROOF OF COST OF GOODS SOLD

* Rounded to nearest dollar

(C) 1. As shown in (b) above, FIFO produces the highest inventory

5 Paid $240 freight on April 4 sale.

11 Paid Dakota Supply Co. in full, less discount.

13 Received collections in full, less discounts, from customers billed on April 4.

14 Purchased merchandise for cash $3,800.

18 Purchased merchandise from Skywalker Distributors $4,500, FOB shipping point,

20 Paid freight on April 18 purchase $100.

26 Purchased merchandise for cash $2,300.

27 Paid Skywalker Distributors in full, less discount.

A. Journalize the transactions using a perpetual inventory system.

Date Account titles and explanation ref debet credit

Accounts payable...................... 201 6.900

4 accounts receivable......................... 112 5.500

Sales....................................... 401 5.500

Cost of goods Sold............................ 505 4.100

Merchandise inventory.......... 120 4.100

5 freight out........................................ 644 240

Cash........................................ 101 240

6 accounts payable............................. 201 500

Merchandise inventory.......... 120 500

11 accounts payable (6.900-500)......... 201 6.400

(6.400 x 1%)......................... 120 64

Cash....................................... 101 6.336

13 cash.................................................. 101 5.445

Sales discounts (5.500 x 1%)........... 414 55

Accounts receivable.............. 112 5.500

14 merchandise inventory................... 120 3.800

Cash..................................... 101 3.800

16 cash................................................. 101 500

Merchandise inventory....... 120 500

18 merchandise inventory.................. 120 4.500

Accounts payable................ 201 4.500

20 merchandise inventory................... 120 100

Cash.................................... 101 100

Sales................................... 401 6.400

Costs of goods sold......................... 505 5.120

Merchandise inventory...... 120 5.120

26 merchandise inventory................... 120 2.300

Cash.................................... 101 2.300

27 accounts payable............................ 201 4.500

(4.500 x 2 %)................... 120 90

Cash................................... 101 4.410

29 sales returns and allowences........ 412 90

Merchandise inventory................. 120 30

Cost of goods sold............. 505 30

30 accounts receivable...................... 112 3.700

Sales.................................. 401 3.700

Costs of goods sold....................... 505 2.800