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  • Buổi 1 Chữa Bài NLKT TA

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    Thao Cao Phuong
    7 views6 pages
    The document shows the calculation of cost of goods sold (COGS) for a company using beginning and ending inventory amounts. It also includes journal entries for purchases, sales, expenses, and adjusting and closing entries. The journal entries track the inventory, accounts payable, and expense accounts for the period along with the calculation of net income.

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    Buổi-1-Chữa-bài-NLKT-TA

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    The document shows the calculation of cost of goods sold (COGS) for a company using beginning and ending inventory amounts. It also includes journal entries for purchases, sales, expenses, and adjusting and closing entries. The journal entries track the inventory, accounts payable, and expense accounts for the period along with the calculation of net income.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    7 views6 pages

    Buổi 1 Chữa Bài NLKT TA

    Uploaded by

    Thao Cao Phuong
    The document shows the calculation of cost of goods sold (COGS) for a company using beginning and ending inventory amounts. It also includes journal entries for purchases, sales, expenses, and adjusting and closing entries. The journal entries track the inventory, accounts payable, and expense accounts for the period along with the calculation of net income.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 6

    a)

    COGS = beginning inventory + purchasing – closing inventory

    = 3000 + 3872,8 – 1200 = 5672,8

    (purchasing = 4000 + 500 – 600 -27,2 = 3872,8)

    b)

    April 6: Dr Inventory: 4000

    Cr account payable: 4000

    April 7: Dr Inventory: 500

    Cr cash: 500

    April 8: Dr account payable: 600

    Cr Inventory: 600

    April 15: Dr prepaid rent expense: 3000

    Cr cash: 3000

    April 16:

    +/ Purchase discount:

    Dr account payable: (4000-600).0,8%=27,2

    Cr Inventory: 27,2

    +/ Payment:

    Dr account payable: 3400-27,2=3372,8

    Cr cash: 3372,8

    April:

    +/ Revenue:

    Dr account receivable: 6000

    Dr cash: 5000

    Cr sales revenue: 11000

    +/ COGS

    Dr COGS: 5672,8

    Cr inventory: 5672,8

    +/ Sale return and allowance

    Dr sale return and allowance: 700

    Cr account receivable: 700


    Dr interest expense: 500

    Dr freight-out: 300

    Dr advertising expense: 250

    Cr cash: 1050

    Dr depreciation expense: 350

    Cr accumulated depreciation: 350

    c)

    Inventory
    Dr Cr
    Begining: 3000
    (6/4) 4000
    (7/4) 500
    (8/4) 600
    (16/4) 27,2
    April: 5672,8
    Closing: 1200

    Account payable
    Dr Cr
    Begining: 0
    (6/4): 4000
    (8/4): 600
    (16/4): 27,2+3372,8+3400
    Closing: 0

    d)

    */ Adjusting entry:

    (30/4): Dr rent expense: 3000/3 = 1000

    Cr prepaid rent expense: 1000

    */ Closing entry:

    +/ Revenue:

    Dr sales revenue: 11000

    Cr Income sumary: 11000

    +/ Expense:

    Dr Income sumary: 8772,8

    Cr rent expense: 1000

    Cr depreciation expense: 350


    Cr sale return and allowance: 700

    Cr COGS: 5672,8

    Cr interest expense: 500

    Cr freight-out: 300

    Cr advertising expense: 250

    +/ Income sumary:

    Dr Income sumary: 11000-8772,8=2227,2

    Cr Owner’s capital: 2227,2

    e)

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