Chapter 5

ACCOUNTING FOR MERCHANDISING

OPERATIONS
Kế TOÁN TRONG DOANH NGHIệP THƯƠNG MạI

© 2009 The McGraw-Hill Companies, Inc.,

All Rights Reserved
 SERVICE COMPANIES
Service organizations sell time to earn revenue.

Examples: Accounting firms, law firms and plumbing services

=
Net
Revenues - Expenses
income

McGraw-Hill/Irwin Slide 2
 MERCHANDISING ACTIVITIES
Merchandising Companies

Manufacturer Wholesaler Retailer Customer

McGraw-Hill/Irwin Slide 3
 REPORTING INCOME FOR A
MERCHANDISER
Merchandising companies sell products
to earn revenue.
Examples: sporting goods, clothing, and auto parts stores
Cost of
Net Minus Goods Equals Gross Minus Expenses Equals Net
Sales Sold Profit Chi phí Income
Doanh thu thuần Lãi gộp
Giá vốn hàng bán Lãi

McGraw-Hill/Irwin Slide 4
 INVENTORY EQUATION - PHƯƠNG TRÌNH HÀNG
TồN KHO

Beginning
inventory

+
Hàng tồn kho đầu kỳ

Net cost of
purchases
Hàng mua trong kì
Cost of goods
sold
Giá vốn hàng bán

Ending
= inventory
Hàng tồn kho cuối kỳ
McGraw-Hill/Irwin Slide 5
 PERPETUAL AND PERIODIC INVENTORY SYSTEMS
Phương pháp kê khai thường xuyên
và phương pháp kiểm kê định kỳ
 Perpetual systems - phương  Periodic systems - phương
pháp kê khai thường xuyên pháp kiểm kê định kỳ
 continually update  accounting records
accounting records for relating to merchandise
merchandising transactions are updated
transactions only at the end of the
accounting period

McGraw-Hill/Irwin Slide 6
 CÁC NGHIệP Vụ CHủ YếU
TRONG Kế TOÁN DOANH NGHIệP THƯƠNG MạI

1. Kế toán hoạt động Mua hàng

2. Kế toán hoạt động Bán hàng

McGraw-Hill/Irwin Slide 7
 1. Kế TOÁN HOạT ĐộNG MUA HÀNG

 Kế toán hàng mua theo hóa đơn

 Kế toán Chiết khấu thương mại được hưởng

 Kế toán Chiết khấu thanh toán được hưởng

 Kế toán Trả lại hàng mua và giảm giá hàng mua

 Kế toán Chi phí vận chuyển hàng mua

McGraw-Hill/Irwin Slide 8
 MERCHANDISE PURCHASES
Kế TOÁN LÚC MUA HÀNG

On November 2, Z-Mart purchased $1,200 of

merchandise inventory for cash.

Dr. Cr.
Nov 2 Merchandise Inventory 1,200
Cash 1,200
Purchase merchandise for cash

McGraw-Hill/Irwin Slide 9
 TRADE DISCOUNTS
CHIếT KHấU THƯƠNG MạI ĐƯợC HƯởNG

Used by manufacturers and wholesalers to

offer better prices for greater quantities
purchased.

Example
Z-Mart offers a 30% trade
discount on orders of 1,000
units or more of their popular
product Racer. Each
Racer has a list price of $5.25.

McGraw-Hill/Irwin Slide 10
 Invoice VAT invoices.docx

Main Source, Inc. Invoice
614 Tech Avenue Date Number
Seller

Nashville, TN 37651 5/4/09 358-BI
Invoice date
S
o

Name: Barbee, Inc. Purchaser
l
d Attn: Tom Bell
Address: One Willow Plaza Order date
T Cookeville, Tennessee
Credit terms
  
o 38501
Freight terms
P.O. Date Salesperson Terms Freight Ship
25/04/2009 #25 2/10,n/30 FOB Destination Via FedExGoods
Item Description Quanity Price Amount
Total invoice
 AC417 250 Backup System 500 $ 54.00 $ 27,000

Sub Total 27,000

We appreciate your business! Ship Chg. -
Tax -
Total $

27,000

McGraw-Hill/Irwin Slide 11
 PURCHASE DISCOUNTS
CHIếT KHấU THANH TOÁN ĐƯợC HƯởNG

A deduction from the invoice price granted to

induce early payment of the amount due.

Credit Period
Credit Discount Period
Terms

Time

Amount Due: Invoice Due: Full Invoice Price

Due price minus
discount
Date of
Invoice
McGraw-Hill/Irwin Slide 12
 PURCHASE DISCOUNTS
CHIếT KHấU THANH TOÁN ĐƯợC HƯởNG

On November 2nd, Z-Mart purchased $1,200

of merchandise inventory on account, credit
terms are 2/10, n/30.

Dr. Cr.
Merchandise Inventory 1,200
Accounts Payable 1,200
Purchase merchandise on account

McGraw-Hill/Irwin Slide 13
 PURCHASE DISCOUNTS
CHIếT KHấU THANH TOÁN ĐƯợC
HƯởNG

On November 12th, Z-Mart paid the amount

due on the purchase of November 2nd .

Dr. Cr.
Accounts Payable 1,200
Cash 1,176
Merchandise Inventory 24
Paid accounts payable in full

$1,200 × 2% = $24 discount

McGraw-Hill/Irwin Slide 14
 CHIếT KHấU THANH TOÁN ĐƯợC
HƯởNG

After we post these entries, the accounts

involved look like this:

Merchandise Inventory Accounts Payable

11/2 1,200 11/12 24 11/12 1,200 11/2 1,200

Bal. 1,176 Bal. 0

McGraw-Hill/Irwin Slide 15
 PURCHASE RETURNS AND
ALLOWANCES
TRả LạI HÀNG MUA VÀ GIảM GIÁ HÀNG MUA

Purchase Return . . .
Merchandise returned by the purchaser to
the supplier.
Purchase Allowance . . .
A reduction in the cost of defective
merchandise received by a purchaser from
a supplier.

McGraw-Hill/Irwin Slide 16
 ALLOWANCES -
TRả LạI HÀNG MUA VÀ GIảM GIÁ HÀNG
MUA

On November 2nd, Z-Mart purchased

$1,200 of merchandise inventory on
account, credit terms are 2/10, n/30.

Dr. Cr.
Merchandise Inventory 1,200
Accounts Payable 1,200
Purchase merchandise on account

McGraw-Hill/Irwin Slide 17
 ALLOWANCES -
TRả LạI HÀNG MUA VÀ GIảM GIÁ HÀNG
MUA

On November 5th , Z-Mart returned $300 of

defective merchandise to the supplier.

Dr. Cr.
Accounts Payable 300
Merchandise Inventory 300
Returned defective merchandise

McGraw-Hill/Irwin Slide 18
 PURCHASE RETURNS AND
ALLOWANCES -
TRả LạI HÀNG MUA VÀ GIảM GIÁ HÀNG MUA

On November 12th, Z-Mart paid the amount

owed for the purchase of November 2nd.

Dr. Cr.
Accounts Payable 900
Cash 882
Merchandise Inventory 18
Paid accounts payable in full

McGraw-Hill/Irwin Slide 19
 TRANSPORTATION COSTS
CHI PHÍ VậN CHUYểN KHI MUA HÀNG
Seller Carrier Buyer

FOB shipping point Merchandise FOB destination

(buyer pays) (seller pays)

McGraw-Hill/Irwin Slide 20
 CHI PHÍ VậN CHUYểN KHI MUA
HÀNG

On November 2nd , Z-Mart purchased $1,200 of

merchandise inventory for cash and also paid
$75 transportation costs.

Dr. Cr.
Merchandise Inventory 1,275
Cash 1,275
Paid for merchandise and transportation

McGraw-Hill/Irwin Slide 21
 ACCOUNTING FOR
MERCHANDISE

Invoice cost of merchandise purchases $ 235,800

Less:
Less: Purchase discounts $ (4,200)
Less: Purchase returns and allowances (1,500)
Add: Costs of transportation-in 2,300
Total cost of merchandise purchased $ 232,400

McGraw-Hill/Irwin Slide 22
 2. Kế TOÁN HOạT ĐộNG BÁN HÀNG

 Kế toán nghiệp vụ bán hàng hóa

 Kế toán các nghiệp vụ chiết khấu cho khách
hàng
 Kế toán hàng bán trả lại (khách hàng trả lại) và
giảm giá hàng bán

McGraw-Hill/Irwin Slide 23
 2. ACCOUNTING FOR MERCHANDISE SALES
Kế TOÁN BÁN HÀNG HÓA
Z-MART
Computation of Gross Profit
For Year Ended December 31, 2009
Sales $ 321,000
Less:
Sales discounts $ 4,300
Sales returns and allowances 2,000 6,300
Net sales 314,700
Cost of goods sold 230,400
Gross profit $ 84,300

McGraw-Hill/Irwin Slide 24
 ACCOUNTING FOR MERCHANDISE
SALES
Kế TOÁN KHI BÁN HÀNG

On November 3rd , Z-Mart sold $2,400 of

merchandise on credit. The merchandise has a
cost basis to Z-Mart of $1,600.

Dr. Cr.
Accounts Receivable 2,400
Sales 2,400
Sold merchandise on credit

Cost of Goods Sold 1,600

Merchandise Inventory 1,600
To record the cost of merchansdise sold

McGraw-Hill/Irwin Slide 25
 SALES DISCOUNTS
CHIếT KHấU THANH TOÁN CHO KHÁCH

Z-Mart completes a credit sale for $1,000 on November 12th,

the merchandise cost $800. Terms of 2/10, n/60, and the
account was paid in full within the discount period.
Dr. Cr.
Nov. 12 Accounts Receivable 1,000
Sales 1,000
Sold merchandise on credit

Nov. 12 Cost of Goods Sold 800

Merchandise Inventory 800
To record cost of merchandise sold
Nov.22 Cash 980
Sales Discounts 20
Accounts Receivable 1,000
Collected cash on account
McGraw-Hill/Irwin Slide 26
 SALES RETURNS AND ALLOWANCES
HÀNG BÁN Bị TRả LạI VÀ GIảM GIÁ HÀNG BÁN

Recall Z-Mart’s sale for $2,400 that had a cost

of $1,600. Assume the customer returns part of
the merchandise. The returned items sell for
$800 and cost $600.

Dr. Cr.
Sales Returns and Allowances 800
Accounts Receivable 800
Customer
Customerretuns
returned
merchandies
merchandises
of June
of June
12 slae
12th sale

Merchandise Inventory 600

Cost of Goods Sold 600
Returned goods added to inventory

McGraw-Hill/Irwin Slide 27
 SALES ALLOWANCES
GIảM GIÁ HÀNG BÁN

Recall the $800 of merchandise sold by Z-

Mart to a customer. The merchandise was
defective but the customer agreed to keep it
because Z-Mart offers a $100 price reduction.

Dr. Cr.
Sales Returns and Allowances 100
Accounts Receivable 100
To record sales allowance

McGraw-Hill/Irwin Slide 28
 ADJUSTING ENTRIES FOR
MERCHANDISERS

Z-Mart’s Merchandise Inventory account at the end

of 2009 has a balance of $21,250, but a physical
count reveals that only $21,000 of inventory exists.
Z-Mart suffered a $250 shrinkage.

Dr. Cr.
Cost of Goods Sold 250
Merchandise Inventory 250
To adjust for $250 shrinkage revealed
by a physical count of inventory

McGraw-Hill/Irwin Slide 29
 CLOSING ENTRIES FOR
MERCHANDISERS
Dr. Cr.
Sales 321,000
Income Summary 321,000
To close credit balances in temporary
accounts

McGraw-Hill/Irwin Slide 30
 CLOSING ENTRIES FOR
MERCHANDISERS
Dr. Cr.
Income Summary 308,100
Sales Discounts 4,300
Sales Returns and Allowances 2,000
Cost of Goods Sold 230,400
Depreciation Expense 3,700
Sales Salaries Expense 43,800
Insurance Expense 600
Rent Expense 9,000
Supplies Expense 3,000
Advertising Expense 11,300
To close debit balances in temporary accounts

McGraw-Hill/Irwin Slide 31
 CLOSING ENTRIES FOR
MERCHANDISERS
Dr. Cr.
Income Summary 12,900
K. Marty, Capital 12,900
To close Income Summary account

McGraw-Hill/Irwin Slide 32
 CLOSING ENTRIES FOR
MERCHANDISERS

Dr. Cr.
Dec. 31 K. Marty, Capital 4,000
K. Marty, Withdrawals 4,000
To close the withdrawals account

McGraw-Hill/Irwin Slide 33
 INCOME STATEMENT FORMATS

Multiple-Step

Single-Step

McGraw-Hill/Irwin Slide 34
 MULTIPLE-STEP INCOME
STATEMENT

McGraw-Hill/Irwin Slide 35
 SINGLE-STEP INCOME
STATEMENT

McGraw-Hill/Irwin Slide 36
 REVIEW

Học xong chương này bạn phải:

 Nắm được đặc trưng của kế toán trong doanh
nghiệp thương mại.
 Biết cách xác định giá vốn hàng bán trong DN
thương mại.
 Biết hạch toán các nghiệp vụ liên quan đến hàng
mua phát sinh trong kì.
 Biết hạch toán các nghiệp vụ liên quan đến bán
hàng phát sinh trong kì.

McGraw-Hill/Irwin Slide 37
 END OF CHAPTER 5

McGraw-Hill/Irwin Slide 38