PT SIDO SUGIH

Cost of Goods Sold

For Year Ended December 31, 2018

Cost of Goods sold

Inventory, January 1 600,000
Purchases 850,000
Less: Purchase returns & allowances 130,000
Purchases Discounts 0 130,000
Net Purchases 720,000
Add : Freight-in 90,000
Cost of goods purchased 810,000
Cost of goods avaiable for sale 1,410,000
Less : Inventory, December 31 750,000
Cost of Goods sold 660,000
 PT SIDO SUGIH
Income Statement
For Year Ended December 31, 2018

Sales
Sales Revenue 1,900,000
Less : Sales returns and allowances 140,000
Sales Dicounts 60,000 200,000
Net sales 1,700,000
Cost of goods sold 660,000
Gross profit 1,040,000
Operating expenses
Advertising Expense 75,000
Office Rent Expense 100,000
Salary Expense 125,000
Sales commision Expense 50,000
Depreciation Expense - Building 80,000
Freight - Out 45,000
Total operating expense 475,000
Income from operations 565,000
Net Income 565,000
 PT SIDO SUGIH
Statement of Retained Earnings
For Year Ended December 31, 2018

Beginning Retained earning 945,000

(+) Net Income 565,000

(-) Dividend 150,000

Ending Retained earning 1,360,000
 PT SIDO SUGIH
Statement of Financial Position
For Year Ended December 31, 2018

Assets : Equity :
Store Building 1,800,000 Share Capital Ordinary 1,000,000
(-) Acc. Depr - Building 120,000 Retained Earnings 1,360,000
1,680,000 Total Equity
Cash 650,000
Account Receivable 800,000 Liabilities :
Inventory 750,000 Account Payable 300,000
Sales Salary Payable 120,000
Bank Loan 1,100,000
Total Liabilities

Total Assets 3,880,000 Total Equity & Liabilities

2,360,000

1,520,000

3,880,000
 PT SIDO SUGIH
Statement of Retained Earnings
For Year Ended December 31, 2018
Account Name Debit Credit
Sales 1,900,000
Income Summary 1,900,000

Income Summary 675,000

Sales returns & allowances 140,000
Sales discounts 60,000
Advertising expense 75,000
Office rent expense 100,000
Salary expense 125,000
Sales commision expense 50,000
Depr. Expense - Building 80,000
Freight - Out 45,000

Income Summary 565,000

Retained Earnings 565,000

Retained Earnings 150,000

Dividend 150,000

Total 3,290,000 3,290,000