MATERI PRAKTIKUM PENGANTAR AKUNTANSI FATA 2018

MATERI LAB 6

ACCOUNTING FOR MERCHANDISING COMPANY

Biaya Merchandising Company

Biaya untuk Merchandising Company dibagi menjadi dua kategori, yaitu:

1) Cost of Goods Sold, yakni total biaya barang dagang yang dijual selama periode
tersebut
2) Operating Expense, yakni biaya yang dikeluarkan dalam proses menghasilkan
pendapatan penjualan. Contohnya adalah gaji penjualan dan biaya asuransi

Perbedaan Merchandising Company dan Service Company

Merchandising Company Service Company

Melakukan jasa kepada
Membeli barang untuk dijual
konsumen
Kegiatan Utama kembali tanpa mengubah
bentuk barang

Pendapatan dilaporkan Pendapatan dilaporkan

sebagai Sales Revenue dan sebagai Service revenue dan
terdapat akun tambahan tidak terdapat Cost of Goods
Statement of Profit or
berupa Sales Return and Sold
Loss and Other
Allowances dan Sales
Comprehensive
Discount sebagai contra
Income
account Sales Revenue dan
terdapat akun Cost of Goods
Sold
Terdapat akun tambahan Tidak ada Merchandise
Statement of berupa Merchandise Inventory
Financial Position Inventory pada bagian
current asset

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Sistem Pencatatan Persediaan pada Merchandising Company

a. Perpetual System
Perusahaan mencatat secara detail biaya dari Merchandise Inventory pada saat
terjadinya transaksi pembelian atau penjualan serta transaksi lain yang mempengaruhi
Merchandise Inventory. Cost of Goods Sold dicatat setiap terjadinya transaksi
penjualan.

b. Periodic System
Perusahaan tidak mencatat Merchandise Inventory dan Cost of Goods Sold
secara langsung. Ending Inventory ditentukan dengan perhitungan persediaan secara
fisik (stock opname). Dalam sistem pencatatan periodik, Cost of Goods Sold dihitung
dengan rumus.

Jurnal pada Merchandising Company

Transaksi Perpetual System Periodic System

Accounts Receivable / Cash Accounts Receivable / Cash
Sales Revenue Sales Revenue
Penjualan
Cost of Goods Sold
Merchandise Inventory
Sales Returns & Allowances Sales Returns & Allowances
Pengembalian Accounts Receivable / Cash Accounts Receivable / Cash
penjualan Merchandise Inventory
Cost of Goods Sold
Sales Pembayaran Freight-Out Freight-Out
Transactions biaya angkut Cash Cash
penjualan
(FOB
destination)
Penerimaan Cash Cash
pembayaran Sales Discounts Sales Discounts
penjualan Accounts Receivable Accounts Receivable
dalam
periode
diskon
Merchandise Inventory Purchases
Pembelian
Accounts Payable / Cash Accounts Payable / Cash
Purchase
Transaction Pengembalian Accounts Payable / Cash Accounts Payable / Cash
Pembelian Purchase Returns &
Merchandise Inventory
Allowances

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Pembayaran Merchandise Inventory Freight-In

biaya angkut Cash Cash
pembelian
(FOB
Shipping
Purchase Point)
Transaction Pembayaran Accounts Payable Accounts Payable
pembelian Cash Cash
dalam Merchandise Inventory Purchase Discount
periode
diskon

Events Perpetual Periodic

Nilai Cost of Goods Sold
Inventory on Merchandise Inventory
Book > No entry
Physical
Count
Nilai Merchandise Inventory
Inventory on Cost of Goods Sold
Book < No entry
Physical
Count
Merchandise Inventory (Ending)
Adjusting Cost of Goods Sold
Entries untuk Purchase Returns & Allowances
memasukkan Purchase Discounts
Adjusting ending No Entry
Merchandise Inventory
and Closing inventory dan
(Beginning)
Entries Cost of
Purchases
Goods Sold
Freigh-In
Menutup Sales Revenue Sales Revenue
akun Other Revenues Other Revenues
temporer Income Summary Income Summary
dengan saldo
kredit
Income Summary Income Summary
Menutup Cost of Goods Sold Cost of Goods Sold
akun Sales Discounts Sales Discounts
temporer
Sales Return & Allowances Sales Returns & Allowances
dengan saldo
debit Freight Out Freight-Out
Other Expenses Other Expenses

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Efek Error dalam Mencatat Merchandising Company

Error dalam Inventory Cost of Goods Sold Net Income Equity

Understates Beginning Inventory Understated Overstated Overstated
Overstates Beginning Inventory Overstated Understated Understated
Understates Ending Inventory Overstated Understated Understated
Overstates Ending Inventory Understated Overstated Overstated
*efek error pada periode yang sama

Single-step Income Statement vs Multiple-step Income Statement

Single-step income statement adalah income statement yang disusun berdasarkan

klasifikasi revenues (mencakup Operating Revenues dan Other Revenues and Gains) dan
expenses (mencakup Cost of Goods Sold, Operating Expenses, and Other Expenses and
Losses). Dinamakan single-step karena step yang dilakukan hanya mengurangi total revenues
dengan total expenses.

Single-step income statement

FATA Company
Income Statement
For the year ended December 31, 2020
Revenues
Net Sales $ 115,000
Interest Revenue $ 750
Gain on Disposal of Plant Assets $ 150
Total Revenues $ 115,900
Expenses
Cost of Goods Sold $ 79,000
Operating Expenses $ 28,500
Interest Expense $ 450
Casualty Loss from Vandalism $ 50
Total Expenses ($ 108,000 )
Net Income $ 7,900

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Multiple-step income statement adalah income statement yang disusun berdasarkan

klasifikasi Operating Activities dan Non-Operating Activities. Hasil akhir perhitugan kegiatan
operasi ditandai dengan “Income from Operations” dan untuk kegiatan non-operasi ditandai
dengan “Other Revenues and Gains” dan “Other Expenses and Losses”.

Multiple-step income statement

FATA Company
Income Statement
For the year ended December 31, 2020
Sales
Sales revenue $ 120,000
Less: Sales Returns and Allowances $ 3,000
Sales Discounts $ 2,000 $ (5,000)
Net Sales $ 115,000
Cost of Goods Sold $ (79,000)
Gross Profit $ 36,000
Operating Expenses
Salaries and Wages Expense $ 16,000
Utilities Expense $ 4,250
Depreciation Expense $ 2,000
Freight-Out $ 1,750
Insurance Expense $ 500
Total operating expenses $ (24,500)
Income From Operations $ 11,500
Other Revenues and Gains
Interest Revenue $ 750
Gains on Disposal of Plant Assets $ 150 $ 900
Other Expenses and Losses
Interest Expense $ 450
Casuality Loss from Vandalism $ 50 $ (500)
Net Income $ 11,900

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Istilah dalam Merchandising Company

• Invoice
Bukti transaksi yang diberikan penjual kepada pembeli yang berasal dari
transaksi non kas (utang).
• Sales Order
Bukti transaksi yang diberikan penjual kepada pembeli yang berasal dari
transaksi kas (lunas).
• Debit Note
Dokumen yang dibuat oleh pembeli dan diberikan kepada penjual karena
adanya pengembalian barang dagang.
• Credit Note
Dokumen yang dibuat oleh penjual dan diberikan kepada pembeli karena
adanya pengembalian barang dagang.

Contoh:

On December 1, DTWM Company had the following account balances:

Cash 600 Accumulated Depreciation - PPE: Building 50
Account Receivable 210 Account Payable 400
Merchandise Inventory (26 units) 130 Notes Payable 340
Supplies 65 Owner's Capital 515
PPE: Building 300
1305 1305
During December, the store completed the following summary transactions

Purchased on account 200 Merchandise at $5 each from Pricillya Co., FOB Shipping
2-Dec
Point, the freight cost is 60. terms 5/10 , n/ EOM
Sold 45 Merchandise to Belinda Co on account (5/10, n.30). The selling price per unit is
5-Dec
$8. the freigt cost was $10 FOB Shipping Point
Purchased 50 Merchandise for $400 from Maria Co., FOB Destination. The freight cost
6-Dec
was $30
7-Dec Returned 6 damaged merchandise to Maria Co.

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Sold 20 Merchandise to Nico Co for $200., FOB Destination the freight cost was
9-Dec
$20
12-Dec Received 5 returned damaged merchandise to Nico CO.
15-Dec Received payment from Belinda Co
31-Dec Based on physical calculation, Inventory is overstated $20
31-Dec Supplies on hand on Dec 31 was $40
31-Dec Depreciation expense for buildings during december was $10

Instructions:

a. Prepare the cost flow assumption table using FIFO method! (2 decimals rounding)
b. Journalize above the transactions using perpetual method and make the necessary
adjusments!
c. Post all the entries to general ledgers!
d. Prepare multiple-step income statement,owners equity statement and balance sheet!
e. Journalize the closing entries!

Answer:

Purchase COGS Balance

Date
Q P T Q P T Q P T
1-Dec 26 5 130
2-Dec 200 5 1060 26 5 130
200 5.3 1060.00
5-Dec 26 5 130 181 5.3 959.30
19 5.3 100.70
6-Dec 50 8 400 181 5.3 959.30
50 8 400.00
7-Dec -6 8 -48 181 5.3 959.30
44 8 352.00
9-Dec 20 5.3 106.00 161 5.3 853.30
44 8 352.00
12-Dec -5 5.3 -26.50 166 5.3 879.80
44 8 352.00
31-Dec 20.00 166 5.3 859.80
44 8 352.00
Total Ending
COGS 330.20 Inventory 1211.80

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DTWM Company
General Journal
December 2020
JI
Date Account Ref Debit Credit
2-Dec Merchandise Inventory 103 1060.00
Account Payable - Pricillya Co 201 1000.00
Cash 101 60.00
5-Dec Account Receivable - Belinda Co 102 360.00
Sales Revenue 401 360.00
Cost of Goods Sold 501 230.70
Merchandise Inventory 103 230.70
6-Dec Merchandise Inventory 103 400.00
Cash 101 400.00
7-Dec Cash 101 48.00
Merchandise Inventory 103 48.00
9-Dec Cash 101 200.00
Sales Revenue 401 200.00
Freight Out 502 20.00
Cash 101 20.00
Cost of Goods Sold 501 106.00
Merchandise Inventory 103 106.00
12-Dec Sales Return & Allowances 402 50.00
Cash 101 50.00
Merchandise Inventory 103 26.50
Cost of Goods Sold 501 26.50
15-Dec Cash 101 342.00
Sales Discount 403 18.00
Account Receivable - Belinda Co 102 360.00
Adjusting & Correcting Entries
31-Dec Cost of Goods Sold 501 20
Merchandise Inventory 103 20
31-Dec Supplies Expense 503 25
Supplies 104 25
31-Dec Depreciation Expense 504 10
Accumulated Depreciation - PPE: Building 112 10

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Cash 101 Account Payable 201

1-Dec $ 600 2-Dec $ 60 1-Dec $ 400
7-Dec $ 48 6-Dec $ 400 2-Dec $ 1,000
9-Dec $ 200 9-Dec $ 20 Balance $ 1,400
15-Dec $ 342 12-Dec $ 50
Notes Payable 202
Balance $ 660 1-Dec $ 340
Balance $ 340
Account Receivable 102
1-Dec $ 210 15-Dec $ 360 Owners Capital 301
5-Dec $ 360 1-Dec $ 515
Balance $ 210 31-Dec $ 106.80
Balance $ 621.80
Merchandise Inventory 103
1-Dec $ 130.00 5-Dec $ 230.70 Sales Revenue 401
2-Dec $ 1,060.00 7-Dec $ 48.00 31-Dec 560 5-Dec $ 360
6-Dec $ 400.00 9-Dec $ 106.00 9-Dec $ 200
12-Dec $ 26.50 31-Dec $ 20.00 Balance $ -
Balance $ 1,211.80
Cost of Goods Sold 501
Supplies 104 5-Dec $ 230.70 12-Dec $ 26.50
1-Dec $ 65 31-Dec $ 25 9-Dec $ 106.00 31-Dec $ 330.20
Balance $ 40 30-Dec $ 20.00
Balance $ -
PPE: Building 111
1-Dec $ 300 Freight Out 502
Balance $ 300 9-Dec $ 20 31-Dec $ 20
Balance $ -
Accumulated Depreciation - PPE: Building 112
1-Dec $ 50 Sales Return and Allowances 402
31-Dec $ 10 12-Dec $ 50 31-Dec $ 50
Balance $ 60 Balance $ -

Depreciation Expense 504 Supplies Expense 503

31-Dec $ 10 31-Dec $ 10 31-Dec $ 25 31-Dec $ 25
Balance $ - Balance $ -

Sales Discount 403

15-Dec $ 18 31-Dec $ 18
Balance $ -

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DTWM Company
Income Statement
For the month ended December 2020
Sales
Sales Revenue $ 560
Less: Sales Return and Allowances $ (50)
Sales Discount $ (18)
Net sales $ 492
Cost Of Goods Sold $ 330.20
Gross Profit $ 161.80
Operating Expense
Freight Out $ 20
Supplies Expense $ 25
Depreciation Expense $ 10
Total Operating Expense $ (55)
Income from Operation $ 106.80
Other revenue and gains -
Other expense and losses -
Net Income $ 106.80

DTWM Company
Statement of changes in owners equity
For the month ended Deceber 2020

Owners Equity 1 December 2020 $ 515

Add: Net Income $ 106.80
Less: Drawings -
Owners Equity 31 December 2020 $ 621.80

DTWM Company
Statement of Financial Position
31 December 2020 (in $000)
Assets
Cash $ 660.00
Account Receivable $ 210.00
Merchandise Inventory $ 1,211.80
Supplies $ 40.00
PPE: Building $ 300.00
Accumulated Depreciation - PPE: Building $ (60.00) $ 240.00
Total Assets $ 2,361.80
Liabilities and Equities
Account Payable $ 1,400.00
Notes Payable $ 340.00

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Owners Capital $ 621.80

Total Liabilities and Equities $ 2,361.80

DTWM Company
General Journal
December 2020

Date Account Debit Credit

31-Dec Sales Revenue $ 560
Income Summary $ 560
31-Dec Income Summary $ 453.20
Cost of Goods Sold $ 330.20
Freight Out $ 20
Supplies Expense $ 25
Depreciation Expense $ 10
Sales Return and Allowances $ 50
Sales Discount $ 18
31-Dec Income Summary $ 106.80
Owners Capital $ 106.80

DANENDRA – MARGARETA –TITAN – WINONA FATA 2018