Scribd
Upload
82 views4 pages

Consignment Accounting Overview

This document discusses accounting for consignment transactions. It presents two cases - one with a finished consignment transaction and one with an unfinished consignment transaction. For the finished transaction, it shows the general ledger entries recording the transaction and calculates the consignment profit as the difference between sales revenue and cost of goods sold, delivery costs, and fees paid to the consignee. For the unfinished transaction, it similarly calculates profit but accounts for the different stages of completion for different consigned items.

Uploaded by

Astri Aviriani
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
82 views4 pages

Consignment Accounting Overview

This document discusses accounting for consignment transactions. It presents two cases - one with a finished consignment transaction and one with an unfinished consignment transaction. For the finished transaction, it shows the general ledger entries recording the transaction and calculates the consignment profit as the difference between sales revenue and cost of goods sold, delivery costs, and fees paid to the consignee. For the unfinished transaction, it similarly calculates profit but accounts for the different stages of completion for different consigned items.

Uploaded by

Astri Aviriani
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Accounting for

Consignment
Advance Accounting 2
Trisakti University
Case 1– Separate Accounting with finished transaction

General Ledger

Barang Konsinyasi Konsinyasi - Cash


1/7/2007 50,000,000 30/12/07 70,000,000 30/12/07 53,500,000 1/7/2007 1,000,000
1/7/2007 1,000,000
21/12/07 16,500,000
31/12/07 2,500,000 Konsinyasi - Profit
70,000,000 70,000,000 31/12/07 2,500,000

Konsinyasi - Inventory Konsinyasi - Account Rec


1/7/2007 50,000,000 21/12/07 53,500,000 30/12/07 53,500,000
Case 1– Separate Accounting with finished transaction

Consignment Profit & Loss Note


Sales 70,000,000 --> 5 unit x @14 jt
COGS (50,000,000) --> 5 unit x @10 jt
Gross Profit 20,000,000
Consigment cost
* Delivery to consignee (1,000,000) --> Ongkir ke Consignee
* Delivery to customer (2,500,000) --> Ongkir ke Customer
* fee to Consignee (14,000,000) --> 20% x 70 jt
Total Consignment cost (17,500,000)

Profit from Consignment 2,500,000


Case 2– Separate accounting with Un-finished transaction

Consignment Profit & Loss Note


Sales 35,000,000
* Kulkas 15,000,000 --> 3 unit x @5 jt
* Tape Compo 20,000,000 --> 8 unit x @2,5 jt
COGS (28,000,000)
* Kulkas (12,000,000) --> 3 unit x @4 jt
* Tape Compo (16,000,000) --> 8 unit x @2 jt
Total Gross Profit 7,000,000
Consigment cost
* Delivery to consignee (330,000) --> (11/15) x 450,000
* Delivery to customer (1,100,000) --> Ongkir ke Customer
* fee to Consignee (3,500,000) --> 10% x 35 jt
Total Consignment cost (4,930,000)
Profit from Consignment 2,070,000

You might also like