CHAPTER 6: JOURNAL ENTRIES FOR ACCOUNTING FOR SALES AND

DETERMINATION OF BUSINESS RESULTS

1. Accounting for revenue
1. Revenue from cash sales or credit sales without - Cash sales
late payment interest Dr 111,112/Cr 511, 3331 (if any)
- Credit sales
Dr 131/Cr 511, 3331 (if any)

2. Revenue from installment sales (included late - Trước khi thanh toán
payment interest) Dr 131
Note: Cr 511 – cash sales price
CR Acc 511 – Cash sales price Cr 3331 – theo 511
CR Acc 3387 – Credit sales price – Cash sales Cr 3387
price – VAT (if any) - Sau khi thanh toán
Dr 111, 112
Cr 131
Dr 3387/Cr 511
3. Revenue from exchanging goods:

3.1 Revenue from exchanged goods

3.2 Goods received

3.3 Remove goods exchanged
4. Revenue from goods sent on consigment (At consigner’s)

4.1 Consigner sent goods to agent (COGS entries) Dr 157/Cr 154 (mới sx), 155
4.2 Agent informed the number of goods sold (COGS Dr 632/Cr 157: giá vốn
entries)
4.3 Consigner received cash after deducting Dr 111, 112 (5) R – commission
commission fees Dr 641 (3): commission fee
Dr 133 (4)
 Cr 511 (bắt đầu tính từ 511) (1)
Cr 3331 (2)
4.4 Consigner received cash in full and then paid back Dr 111, 112
commission fees Cr 511
Cr 3331
- Paid back commission fee
Dr 641; commission fee
Dr 133
Cr 111, 112
5. Revenue from goods sent on consigment (At agent’s)
5.1 Received goods from consigner
5.2 Sold goods and collected cash
5.3 Informed the consigner and made the payment to
consigner after deducting commission fees

5.4 Informed the consigner and made the payment in

full, then received cash for commission fees
a. Made the payment to consigner in full
b. Received cash for commission fees

6. Cash received in advanced

6.1 For selling goods Dr 111, 112/Cr 131 (0 cần phân bổ)
6.2 For providing services Dr 111, 112
Cr 3387 (phân bổ định kì)

2. Sales with discounts and deductions

1. Sales with payment discount (0 phải giảm trừ revenue) Dr 635/Cr 111,112,131
2. Sales with trade discounts or allowances known before Recognize Revenue based
revenue recognition (giảm trừ revenue) on the price after deducting
trade discount, allowance
3. Sales with trade discounts or allowances known after Dr 521 (trade discount)
revenue recognition Dr 5213 (allowance)
Dr 3331
Cr 111, 112, 131
4. Sales with goods returned Dr 5212
Dr 3331
Cr 111, 112, 131
5. Received goods returned Dr 155/Cr 632

3. Accounting for Cost of goods sold

Agent/Means of
transport (Acc
157)

Factory (Acc 154) Customer (Acc

632)

Warehouse (Acc
155)

1 Goods sent from the factory to the warehouse

2 Goods sent from the factory to the means of transport
or agent
3 Goods sent from the factory to customer
4 Goods sent from the warehouse to means of transport
or agent
 5 Goods sent from the warehouse to customer
6 Goods sent from means of transport or agent to
customer

4. Accounting for other types of income and expenses

1 Income incurred (financial income, other income)
2 Expenses incurred (selling expenses, administrative
expenses, financial expenses, other expenses)

5. Calculation of business results (Remember the process)

1 Transferred revenue deductions to calculate net revenue Dr 511/Cr 521
2 Transferred net revenue to calculate business result Dr 511/Cr 911
3 Transferred COGS to calculate business result Dr 911/Cr 632 (lưu ý các
khoản giảm trừ)
4 Gross profit = 2 - 3 No entry
5 Transferred other types of income Dr 515,711/Cr 911
6 Transferred other types of expenses Dr 911/Cr 635, 641, 642,
811
7 Net profit = 4 + 5 - 6
8 If the entity made a profit, calculated current corporate Dr 8211/Cr 3334
income tax expense= 7*CIT expense
9 Transferred current corporate income tax expense to Dr 8211/Cr 911
calculate business result
1 Transferred business result to undistributed profit after tax Dr 911/Cr 4212
0 = 7 – 8 (trong trg hợp đvi có lãi)

* Trong trường hợp lỗ

Bỏ hết các đkhoan 8,9,10 Dr 4212/Cr 911