Merchandising Company Financial Rep

A. Company's Identity
Name :
Address :
Operating hour :
Phone number :
Email :
Nurul Beauty Supply is an small retail store that sell variety beauty products such as makeup,
skincare etc. This local business is a sole proprietorship owned by Ms. Darmini. The store began its
operation on April 2nd 2020, currently having 2 employees who work as a store clerk and cashier.

B. Financial Policy
1. General Policy
a. Using accrual basis accounting.
b. Accounting period based on calendar year divided into 12 month period.
c. Currency is in Rupiah
d. Trial balance and adjustment entries is prepared every month
e. Only use generaljournal to record transaction.
f. Using perpetual as an inventory system.
g. Every sales/purchase is assumed alreasy include tax income.

2. Cash Payment Policy

a. Every purchase over Rp1.000.000,- is paid in credit with supperted document such as invoice.
b. Employees are paid Rp100.000,= everyday for 5 hours of work.

3. Sales Policy
a. Undefected items can be returned and defected items can be granted allowance at fair price.
b. Credit terms is n/30
c. Only provide FOB shipping point.

C. Chart of Account

Account Number
111
112
113
114
115
116
117
118
119
 121
122
123
211
212
411
421
423
511
512
513
611
612
613
614
615
616
617
618
619

Nurul Beauty Supply

Trial Balance
November 30, 2020

Account No.
111
112
113
114
115
116
117
118
119
121
122
211
212
411
421
423
511
512
513
611
614
615
616
612
617
618
 Merchandising Company Financial Report

ny's Identity
Nurul Beauty Supply
Jalan Raya Citayam No. 10, Bojonggede, Bogor
8AM – 6PM (Closed on Monday)
(021)-11288823
Nurulbeauty@gmail.com
auty Supply is an small retail store that sell variety beauty products such as makeup,
This local business is a sole proprietorship owned by Ms. Darmini. The store began its
April 2nd 2020, currently having 2 employees who work as a store clerk and cashier.

al Policy
l Policy
ng accrual basis accounting.
ounting period based on calendar year divided into 12 month period.
rency is in Rupiah
l balance and adjustment entries is prepared every month
y use generaljournal to record transaction.
g perpetual as an inventory system.
ry sales/purchase is assumed alreasy include tax income.

ayment Policy
ry purchase over Rp1.000.000,- is paid in credit with supperted document such as invoice.
ployees are paid Rp100.000,= everyday for 5 hours of work.

Policy
defected items can be returned and defected items can be granted allowance at fair price.
dit terms is n/30
y provide FOB shipping point.

of Account

Account Title
Cash
Account Receivable
Inventory
Supplies
Prepaid Rent
Prepaid Insurance
Prepaid Advertising
Equipment
Accumulated Depreciation-Equipment
Accounts Payable
interest Payable
Salaries and Wages Payable
Share Capital-Ordinary
Retained Earnings
Sales Revenue
Sales Returns and Allowance
Sales Discounts
Purchase Returns and Allowance
Purchase Discount
Cost of Goods Sold
Depreciation Expense
Rent Expense
Maintenance and Repair Expense
Interest Expense
Salaries and Wages Expense
Utilities Expense
Insurance Expense
Advertising Expense
Supplies Expense

Nurul Beauty Supply

Trial Balance
November 30, 2020

Account Title
Cash
Account Receivable 100,000,000
Inventory 50,000,000
Supplies 500,000
Prepaid Rent 5,000,000
Prepaid Insurance 3,840,000
Prepaid Advertising 4,000,000
Equipment 50,000,000
Accumulated Depreciation-Equipment
Accounts Payable
Interest Payable
Share Capital-Ordinary
Retained Earnings
Sales Revenue
Sales Returns and Allowance 12,000,000
Sales Discounts 8,000,000
Purchase Returns and Allowance
Purchase Discount
Cost of Goods Sold 360,000,000
Depreciation Expense 4,000,000
Interest Expense 4,800,000
Salaries and Wages Expense 48,000,000
Utilities Expense 16,000,000
Rent Expense 5,000,000
Insurance Expense 5,760,000
Advertising Expense 8,000,000
eport
Kelompok 5
✽Siti Wahidatul Hasanah
✽Olivia Raissa Anjani
✽Rohidatul Hudawiah
✽Rahma Subhi Fatin
✽Adri Mulia

Account Types
Current Assets
Current Assets
Current Assets
Current Assets
Current Assets
Current Assets
Current Assets
Fixed Assets
Fixed Assets
 Current Liabilities
Current Liabilities
Current Liabilities
Equity
Equity
Revenue
Sales
Sales
Purchases
Purchases
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense

Debit Credit
Rp 44,120,000
100,000,000
50,000,000
500,000
5,000,000
3,840,000
4,000,000
50,000,000
Rp 4,000,000
30,000,000
4,800,000
150,000,000
35,000,000
488,200,000
12,000,000
8,000,000
10,720,000
6,300,000
360,000,000
 4,000,000
4,800,000
48,000,000
16,000,000
5,000,000
5,760,000
8,000,000
Rp 729,020,000.00 Rp 729,020,000.00
Transaction
During the month of December these following transactions occured.
Dec 1 Purchase a Wardah makeup product for Rp25.000.000,- from Wardah manufacturer, FOB shipping p
2 Purchase Rp500.000,- amount of cleaning supplies.
3 Sold Makeover makeup on account to Anita shop for Rp30.000.000,-. The cost of Makeover makeup
4 Paid maintenance and repair expense for Rp2.500.000,- because electricity problem.
5 Returned damaged makeup to Wardah manufacturer for Rp3.000.000,-
5 Sold Wardah makeup tp Andin MUA for Rp9.500.000,- .The cost of Wardah makeup is Rp8.000.000,-
5 Receive a full payment of Tressemme hair product from Sri Salon for Rp90.000.000,- out of the disco
6 Granted an allowance of Rp3.000.000,- to Anita shop for a beauty product.
9 Paid Wardah manufacturer in full less discount.
10 Receive Anita Shop payment in full.
10 Sold Wardah makeup to customer for Rp800.000,- on cash
12 Sold 24 handbody vaseline at Rp. 25.000 each to Sakinah Beauty. Terms 1/10, n/30, FOB shipping po
13 Nurul Beauty Supply was granted an allowance of Rp. 50.000 for defected handbody vaseline purcha
14 Purchased merchandise from Santy Beauty for Rp950.000 (including freight). FOB shipping point. For
14 Purchased Bali ratih Bodycare from PT. Bali Sari for Rp20.000.000, terms 2/10, n/60 FOB shipping po
15 Paid Freight for Rp25.000 in cash to PT. Bali Sari.
16 Sold beauty product to customer on account for Rp2.500.000,- the cost of goods is Rp2.000.000,-
16 Received the balance due from Sakinah Beauty in discount period.
17 Sold Bali Ratih product to Beautycallindo on account Rp15.000.000,-, terms 2/10, n/30. The cost of t
18 Receive cash payment of freight from Beautycallindo for Rp450.000,-
20 Receive payment due to transaction on December 16.
20 Paid electricity expense in cash for Rp1.500.000,- recorded as utilities expense.
23 Paid salaries of both employees Rp3.000.000,- each.
27 Paid monthly gasoline bill for Rp1.500.000,-
30 Receive full payment from Beautycallindo.
Transaction
uring the month of December these following transactions occured.
Purchase a Wardah makeup product for Rp25.000.000,- from Wardah manufacturer, FOB shipping point, terms 3/10, n/30
Purchase Rp500.000,- amount of cleaning supplies.
Sold Makeover makeup on account to Anita shop for Rp30.000.000,-. The cost of Makeover makeup is Rp25.000.000,- wit
Paid maintenance and repair expense for Rp2.500.000,- because electricity problem.
Returned damaged makeup to Wardah manufacturer for Rp3.000.000,-
Sold Wardah makeup tp Andin MUA for Rp9.500.000,- .The cost of Wardah makeup is Rp8.000.000,- terms 1/10, n/30, in
Receive a full payment of Tressemme hair product from Sri Salon for Rp90.000.000,- out of the discount period from nove
Granted an allowance of Rp3.000.000,- to Anita shop for a beauty product.
Paid Wardah manufacturer in full less discount.
Receive Anita Shop payment in full.
Sold Wardah makeup to customer for Rp800.000,- on cash
Sold 24 handbody vaseline at Rp. 25.000 each to Sakinah Beauty. Terms 1/10, n/30, FOB shipping point. The cost of the ha
Nurul Beauty Supply was granted an allowance of Rp. 50.000 for defected handbody vaseline purchased on December 12
Purchased merchandise from Santy Beauty for Rp950.000 (including freight). FOB shipping point. For cash.
Purchased Bali ratih Bodycare from PT. Bali Sari for Rp20.000.000, terms 2/10, n/60 FOB shipping point.
Paid Freight for Rp25.000 in cash to PT. Bali Sari.
Sold beauty product to customer on account for Rp2.500.000,- the cost of goods is Rp2.000.000,-
Received the balance due from Sakinah Beauty in discount period.
Sold Bali Ratih product to Beautycallindo on account Rp15.000.000,-, terms 2/10, n/30. The cost of the merchandise sold w
Receive cash payment of freight from Beautycallindo for Rp450.000,-
Receive payment due to transaction on December 16.
Paid electricity expense in cash for Rp1.500.000,- recorded as utilities expense.
Paid salaries of both employees Rp3.000.000,- each.
Paid monthly gasoline bill for Rp1.500.000,-
Receive full payment from Beautycallindo.
, n/30 also made a cash payment of Rp200.000 of Freight.

,- with terms 2/10, n/30, FOB shipping point.

0, in cash already include freight.

november.

he handbody vaseline sold was Rp. 20.000

er 12

sold was Rp10.000.000,- FOB shipping point.

 Cash
Date Explanation Ref.
✔
Dec 1 Balance
1 Purchasing Inventory J1
2 Purchasing Supplies J1

Account Receivable
Date Explanation Ref.
✔
Dec 1 Balance
3 Cash owed by Anita Shop J1
6 Granting Allowance to Anita Shop J1

Account Receivable
Date Explanation Ref.
✔
Dec 1 Balance
1 Purchasing Wardah makeup product from Wardah Manufacturer J1
1 Paying Freight to Wardah Manufacturer J1
3 Selling Makeover makeup product to Anita Shop J1

Supplies
Date Explanation Ref.
✔
Dec 1 Balance
2 Purchasing cleaning supplies J1

Account Payable
Date Explanation Ref.
✔
Dec 1 Balance
1 Cash owed to Wardah Manufacturer J1
5 Returned makeup to Wardah Manufacturer J1

Sales Revenue
Date Explanation Ref.
✔
Dec 1 Balance
3 Sales Revenue from Anita Shop J1

Sales Return and Allowance

Date Explanation Ref.
✔
Dec 1 Balance
6 Allowance to Anita Shop J1

Purchase Return and Allowance

Date Explanation Ref.
 ✔
Dec 1 Balance
5 Returned makeup product to Wardah Manufacturer J1

Cost of Goods Sold

Date Explanation Ref.
✔
Dec 1 Balance
3 Cost of Wardah Makeup from Wardah Manufacturer J1
 No. 111
Debit Credit Balance
54,120,000 54,120,000
200,000 53,920,000
500,000 53,420,000

No. 112
Debit Credit Balance
100,000,000 100,000,000
30,000,000 130,000,000
3,000,000 127,000,000

No. 113
Debit Credit Balance
50,000,000 50,000,000
25,000,000 75,000,000
200,000 75,200,000
25,000,000 50,200,000

No. 114
Debit Credit Balance
500,000 500,000
500,000 500,000

No. 121
Debit Credit Balance
30,000,000 (30,000,000)
25,000,000 (55,000,000)
3,000,000 (52,000,000)

No. 411
Debit Credit Balance
450,000,000 (450,000,000)
30,000,000 (480,000,000)

No. 421
Debit Credit Balance
12,000,000 12,000,000
3,000,000 15,000,000

ce No. 511
Debit Credit Balance
 10,600,000 (10,600,000)
3,000,000 (13,600,000)

No. 513
Debit Credit Balance
360,000,000 360,000,000
25,000,000 385,000,000
Adjustment data consist of :
1. Annual depreciation rate on equipment is 2%.
2. Salaries of Rp1.400.000,- were unpaid at December 31.

Nurul Beauty Supply

General Journal
December 31, 2020

Date Account Title and Explanation Ref

Adjusting Entries
Dec 31 Equipment Depreciation Expense 611
Accumulated Depreciation-Equipment 119
(to record actual inventory amount)
31 Salaries and Wages Expense 615
Salaries and Wages Payable 123
(to record unpaid salaries)

Accumulated Depreciation-Equipment
Date Explanation Ref.
✔ Debit
Dec 1 Balance
3 Adjusment J1

Salaries and Wages Payable

Date Explanation Ref. Debit
Dec 31 Adjusment J2

Equipment Depreciation Expense

Date Explanation Ref.
✔ Debit
Dec 1 Balance 8,000,000
3 Adjustment J2 1,000,000

Salaries and Wages Expense

Date Explanation Ref.
✔ Debit
Dec 1 Balance 48,000,000
23 Paid monthly salaries J1 6,000,000
31 Adjustment J2 1,000,000
Debit Credit

1,000,000
1,000,000

1,400,000
1,400,000

No. 119
Credit Balance
8,000,000 (8,000,000)
1,000,000 (9,000,000)

No. 123
Credit Balance
1,400,000 (1,400,000)

No. 611
Credit Balance
8,000,000
9,000,000

No. 615
Credit Balance
48,000,000
54,000,000
55,000,000
 Nurul Beauty Supply
Worksheets
For the Year Ended December, 31, 2017
Trial Balance
Account Title Dr. Cr.
Cash
Account Receivable
Inventory
Prepaid Insurance
Prepaid Advertising
Equipment
Accumulated Depreciation-Equipment
Accounts Payable
Share Capital-Ordinary
Retained Earnings
Dividends
Sales Revenue
Sales Returns and Allowance
Sales Discounts
Cost of Goods Sold
Freight-Out
Salaries and Wages Expense
Utilities Expense
Insurance Expense
Advertising Expense
Salaries and Wages Payable
Totals
Net Income
Totals