BT 6.

ABC Merchandising had the following transactions:

1. Purchased goods and made payment by cash in bank at $6,600. Freight-in was $220
(with VAT), paid by cash on hand.

2. Purchased materials on account for $7,350 (including 5% VAT) with credit terms 1/10,
n/30 (if customer made payment within 10 days, they will received 1% discount)

3. Purchased tools on account for $4,400 (including 10% VAT).

4. Return a part of tools purchased in (3) for sales price with VAT of $2,200

5. Paid within the discount period for materials in (2).

6. Paid for tools in (3) by cash in bank.

Requirement: Record transaction

BT 6.2.

Company pay VAT by the tax deduction method, accounting for inventories by perpetual

inventory system, determination of price of inventories by FIFO method.

Beginning balance:

Acc 152: 10.000.000 VND (1000 units of A)

Acc 153: 2.000.000 VND (100 units of T)

During the period the following transactions occur: Requirement: Record transaction

1. Purchase 5.000 units of A on account, the price (excluded VAT) is 52 million VND,
VAT rate at 10%.

2. Purchase 1.500 units of tool T with an invoiced price (with VAT) of 35.200.000 VND,
VAT rate at 10%, pay by cash in bank. When checking before receiving, company find
out some goods in bad quality. Company complain and ask for a purchase allowance.

Three days later, seller accepted a 5% allowance of invoice price (with VAT) paid by
cash on hand.
3. Issue 500 units of T from warehouse to be used for administrative purpose. They are
estimated to be used up in 3 accounting periods.

4. Issue from warehouse 200 units of A for manufacturing.

5. A tool which was using in accounting department is broken. Its cost is 2 million VND
and had been expensed for 1,5 million VND.

6. Purchase on account 1.000 units of goods X for 350 million VND (excluded 10%
VAT). When checking before receiving, detect a shortage of 100 units. Normal spoilage
for this transaction is 10 units, the cause of the rest is under investigation

BT 6.12/ tr240 Sách giáo trình

BT 6.13/tr241 SGT

BT 6.14/tr242 SGT