Material purchase price

Dr.152 (N) 2,600,000

Dr.133 260,000
1. Purchase N materials , pay Cr.112 2,860,000
by cash in bank, buyer pays
shipping and unloading fees Shipping and unloading fees paid in cash
Dr.152 (N) 100,000
Dr.133 10,000
Cr.111 110,000
Material purchase price
Dr.152 (N) 7,020,000
Dr.133 702,000
2. Purchase N materials from Cr.331 7,722,000
company K, buyer pays
shipping and unloading fees Shipping and unloading fees paid in advance
Dr.152 (N) 300,000
Dr.133 30,000
Cr.141 330,000
Purchase materials with discounts
3. Receive discounts from Dr.331 132,000
company K Cr.152 (N) 120,000
Cr.133 12,000
Purchase price of tools and supplies
Dr.153 2,000,000
4. Purchase tools and supplies Dr.133 200,000
and put them in the
warehouse, not yet paid for
them, buyer pays shipping
4. Purchase tools and supplies
and put them in the Cr.331 2,200,000
warehouse, not yet paid for
them, buyer pays shipping Shipping fees paid in cash
and unloading fees Dr.153 110,000
Dr.133 10,000
Cr.111 120,000
5. Advance payment for Dr.331 (X) 4,000,000
purchase of goods to Cr.112 4,000,000
company X
Dr.156 30,000,000
Dr.133 1,500,000
6. Purchase goods and put Cr.331 31,500,000
them in the warehouse, not
Shipping and unloading fees paid in advance
yet paid for them, buyer pays
shipping fees Dr.156 1,000,000
Dr.133 100,000
Cr.141 1,100,000
Dr.156 (B) 6,000,000
7. Receive goods and invoices
Dr.133 600,000
from company X
Cr.331 (X) 6,600,000
Purchase materials with discounts
8. Pay company X with cash Dr.331 2,600,000
in bank after deducting the
payment discount received Cr.1112 2,534,000
Cr.515 66,000
9. N materials used for direct Dr.621 5,361,400
production
9. N materials used for direct
production Cr.152(N) 5,361,400
Purchase price of tools and supplies
Dr.153 15,000,000
10. Purchase goods and put Dr.133 1,500,000
them in the warehouse, not
Cr.331 16,500,000
yet paid for them, buyer pays
shipping and unloading fees Shipping and unloading fees paid in cash
Dr.153 300,000
Cr.111 300,000
Purchase materials with discounts
Dr.112 16,500,000
11. Prepayment debt
Cr.153 16,335,000
Cr.133 165,000
Dr.242 8,000,000
Cr.153 8,000,000
12. Supplies allocation Allocation to this month expenses
Dr.642 2,000,000
Cr.242 2,000,000
BT 6.13/ 241

Description Debit
1. Enter warehouse of goods in transit at the end Dr 152 160,000,000
of last month Cr 151
Material purchase price
Dr 152 20,000,000
Dr 133 2,000,000
2. Purchase auxiliary materials from company Cr 331
A, buyer pays shipping and unloading fees Shipping and unloading fees paid in advance
Dr 152 200,000
Dr 133 20,000
Cr 141
Purchase materials with discounts
3. Pay company A with cash in bank after Dr 331 22,000,000
deducting the payment discount received Cr 133
Cr 112
Dr 152 330,000,000
4. Shortage of goods when putting in warehouse Dr 133 33,000,000
- error by the company Dr 1388 22,000,000
Cr 331
Dr 331 16,500,000
5. Purchase materials with rebates
 5. Purchase materials with rebates Cr 133
Cr 152
Purchase price of tools and supplies
Dr 153 2,000,000
Dr 133 200,000
6. Purchase tools and supplies and put them in Cr 331
the warehouse, not yet paid for them Shipping fees paid in cash
Dr 153 110,000
Dr 133 10,000
Cr 111
Dr 242 12,000,000
Dr 133 1,200,000
7. Purchase tools and supplies and put them into Cr 153
immediate use in the production department,
used for 6 months Allocation to this month's expenses
Dr 627 2,000,000
Cr 242
 Credit

160,000,000

22,000,000
d in advance

220,000
s

220,000
21,780,000

385,000,000
 1,500,000
15,000,000
lies

2,200,000

120,000

13,200,000

2,000,000
BT 7.5/259
Ending inventory = Beginning inventory + Net purchases - Cost of goods sold

Cost of goods sold = Net sales * (1 - gross profit ratio)

Cost of goods sold = 6 * (1 - 0.25) = 4.5

Beginning inventory = Cost of goods sold + Ending inventory - Net purchases

Beginning inventory = 4.5 + 20 - 3 = 21.5
 7.8/
Estimated selling Estimated selling Net realisable value
Inventory
price (1000đ/kg) expenses (1000đ/kg) (NRV) (1000đ/kg)
A 170 10 160
NRV = Estimated selling B 140 12 128
price - Estimated selling
expenses C 320 20 300
D 275 25 250
E 290 30 260

Quantity according Historical cost

Inventory Comparison
to inventory (kg) (1000đ/kg)
Provision for devaluation A 300 180 >
of inventory = Quantity B 500 120 <
according to inventory x C 200 320 >
( Historical cost - Net D 100 250 =
realisable value) E 200 300 >
Total

Provision entry Dr 632 18000-0

Cr 2294 18000

STATEMENT OF FINANCIAL POSITION

ASSET Code Closing balance
A. SHORT-TERM
100
ASSETS
IV. Inventory 140 245000
1/ Inventories 141 263000
2/ Provision for
149 (18000)
inventories
 Provision for
Net realisable value
devaluation of
(NRV) (1000đ/kg)
160 inventory
6000
128 0
300 4000
250 0
260 8000
18000
1/
Price (Milion VND)
Items Quantity
Historical cost Total historical cost
A 57 3.0 171
B 30 7.0 210
C 12 24.0 288
D 65 4.0 260
E 50 6.0 300
Total cost of inventory 1229

2/
Price (Milion VND)
Items Quantity
Historical cost Comparison Net realizable value LCNRV
A 57 3.0 < 3.5 3
B 30 7.0 > 6.0 6
C 12 24.0 > 20.0 20
D 65 4.0 = 4.0 4
E 50 6.0 > 4.5 4.5

Dr 632B 30
Cr 2294B 30

Dr 632C 48
Cr 2294C 48

Dr 632E 75
Cr 2294E 75
3/
Dr.632 153
Cr.2294 153
Case Opening balance Closing balance
Dr. 632 153
1 0 153
Cr. 2294
Dr.632 61
2 92 153
Cr.2294
Dr. 2294 57
3 210 153
Cr. 632

4/
Hoang Lan Corporation
Financial Statement
ASSET Code Closing balance
A. Short- term assets 100
IV. Inventory 140 1076
1. Inventoriesfor
2. Provision 141 1229
impairment of inventory 149 (153)
(*)
1 30
153

61

57