MATA KULIAH

PENGANTAR AKUNTANSI I

Sesi 9 dan 10
Akuntansi untuk
Perusahaan Dagang
Materi Pembelajaran Sesi ke-9 dan 10
 Perbedaan operasional Perusahaan Jasa dan Dagang

 Pencatatan Transaksi Pembelian atas Persediaan: Perpetual &

Periodic

 Pencatatan Transaksi Penjualan atas Persediaan: Perpetual & Periodic

 Penyelesaian siklus akuntansi Perusahaan Dagang: Adjusting Entries,

Closing

 Bentuk Laporan Keuangan Perusahaan Dagang

 Worksheet penyusunan Laporan Keuangan Perusahaan Dagang

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 Operating Cycles
Service Company

Receive Cash Perform Services

Cash

Mail

Accounts
Receivable
ILLUSTRATION 5.2
Operating cycle for a service company

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 Operating Cycles ILLUSTRATION 5.3
Operating cycle for a
Merchandising Company merchandising company

Receive Buy
Cash Inventory
Cash
Mail

Sell Inventory

Accounts
Inventory
Receivable

Ordinarily is longer than that of a service company.

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 Service Bussiness

 The revenue activities of a service business involve

providing services to customers.
 On the income statement for a service business, the
revenues from services are reported as fees earned.
 The operating expenses incurred in providing the
services are subtracted from the fees earned to arrive
at net income.
 Merchandising Bussiness
 In contrast, the revenue activities of a merchandising business
involve the buying and selling of merchandise.
 A merchandising business first purchases merchandise to sell
to its customers.
 When this merchandise is sold, the revenue is reported as
sales, and its cost is recognized as an expense called cost of
merchandise sold.
 The cost of merchandise sold is subtracted from sales to
arrive at gross profit, which is the profit before deducting
operating expenses.

Not used in a
service business
 Freight Costs
Ownership of goods
passes to buyer when
public carrier accepts
goods from seller.

Ownership of goods
remains with seller until
the goods reach buyer.

ILLUSTRATION 5.7
Shipping terms
Freight costs incurred by the seller are an operating expense.

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 Purchase Returns and Allowances
Purchaser may be dissatisfied because goods are
damaged or defective, of inferior quality, or do not meet
specifications.

Purchase Return Purchase Allowance

Return goods for credit if May choose to keep
sale was made on credit, merchandise if seller will
or for a cash refund if grant a reduction from
purchase was for cash purchase price

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Purchase Returns and Allowances
The buyer normally sends the seller a debit memorandum, often
called a debit memo, to notify the seller of reasons for the return
(purchase return) or to request a price reduction (purchase
allowance).
A debit memo also informs the seller of the amount the buyer
proposes to debit to the account payable due the seller.

9
 Credit Terms
The terms for when payments for merchandise are to be
made are called the credit terms.

10
Purchase Discounts
Discounts taken by the buyer for early payment of an
invoice are called purchases discounts.
Purchases discounts taken by a buyer reduce the cost of
the merchandise purchased.
Credit terms may permit buyer to claim a cash discount
for prompt payment. Example: Credit terms 2/10, n/30.
Advantages:
• Purchaser saves money
• Seller shortens operating cycle by converting
accounts receivable into cash earlier
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 Purchase Discounts
2/10, n/30 1/15, n/EOM 1/10, EOM
Diskon 2% jika Diskon 1% jika Diskon 1% jika
dibayar dalam dibayar dalam dibayarkan paling
waktu 10 hari, jika waktu 15 hari, jika lambat 10 hari
tidak, dibayar tidak, dibayar setelah akhir bulan
jumlah bersih (net) jumlah bersih (net) terjadinya
yang akan jatuh paling lambat akhir transaksi
tempo dalam 30 bulan sejak
hari sejak terjadinya transaksi
terjadinya
transaksi.

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 Summary of Purchasing Transactions
(Perpetual System)
Inventory
Purchase May 4 3,800 May 8 300 Purchase return
Freight-in 6 150 14 70 Purchase discount
Balance 3,580

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 Trade Discounts
 Wholesalers are companies that sell merchandise to
other businesses rather than to the public.
 Many wholesalers publish sales catalogs.
 Rather than updating their catalogs, wholesalers may
publish price updates. These updates may include large
discounts from the catalog list prices. Such discounts
are called trade discounts.
Case illustration: Sold merchandise on account with list price
$4,000, trade discount 30%, terms 2/10, n/30. The cost of the
merchandise sold was $1,125.
Journal: Accounts Receivable—C. F. Howell Co. 2,800
Sales 2,800
[$4,000 – (30% × $4,000)]
Cost of Merchandise Sold 1,125
Merchandise Inventory 1,125 14
 Sales Taxes
• The seller would record a sale of $100 on account, subject
to a tax of 6%, as follows:

• On a regular basis, the seller pays to the taxing authority

(state) the amount of the sales tax collected. The seller
records such a payment as follows:
 Perpetual System vs Periodic System
Under the perpetual inventory system of accounting, the amounts of
inventory available for sale and sold are continuously (perpetually)
updated in the inventory records.
Advantages of the Perpetual System
 Traditionally used for merchandise with high unit values;
 Shows quantity and cost of inventory that should be on hand at any
time;
 Provides better control over inventories than a periodic system.

If merchandise inventory at the end of the period is determined by

taking a physical count of inventory on hand, a periodic inventory
system is being used.
 Small merchandise businesses, such as a local hardware store, may
use a manual accounting system.
 A manual perpetual inventory system is time consuming and costly to
maintain.
 In this case, the periodic inventory system may be used.
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 Perpetual System vs Periodic System
Differences Perpetual
Inventory Account and are updated continuously
Cost of Merchandise Sold during the period
Account
Purchases, purchases are directly debited (purchase
discounts, purchases & freight in) or credited
returns and allowances, (purchase return & purchase
and freight in account discount) to inventory account
Sale Transaction is recorded via two journal
entries. Records The sale value
of inventory and cost of
merchandise sold
Determination of ending is determined on the basis of
inventory inventory records
Determination of cost of Company determines cost of
merchandise sold merchandise sold each time a
sale occurs
Periodic
are updated only at the end of
the period.
are used in periodic inventory
system and are updated
continuously
only one entry is made
is determined on the basis of
physical stock count
Cost of merchandise sold not
determined until end of period.
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PENCATATAN TRANSAKSI
PURCHASE TRANSACTIONS

SALE TRANSACTIONS

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Purchase Transactions

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Sales Transactions
Illustration of Merchandise Inventory
Transactions for Seller and Buyer (Perpetual)
(slide 1 of 2)

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(slide 2 of 2)
Determining Cost of Merchandise Sold
Using the Periodic System
to balance sheet
physical count’s result at the end of the period

to income statement
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Copyright ©2018 John Wiley & Son, Inc. 24
saldo ending
inventory

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 Adjusting Entries
 Generally same as a service company;
 One additional adjustment to make records agree with actual
inventory on hand;
 Under the perpetual inventory system, the merchandise
inventory account is continually updated for purchase and
sales transactions. As a result, the balance of the
merchandise inventory account is the amount of merchandise
available for sale at that point in time.
 However, retailers normally experience some loss of
inventory due to shoplifting, employee theft, or errors. Thus,
the physical inventory on hand at the end of the accounting
period is usually less than the balance of Merchandise
Inventory. This difference is called inventory shrinkage or
inventory shortage.
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 Adjusting Entry for Inventory Shrinkage
• NetSolutions’ inventory is as follows on December 31,
2020:

• At the end of the accounting period, inventory

shrinkage is recorded by the following adjusting entry:

©2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
 Adjusting Entry for Inventory Shrinkage

• After the entry is recorded, the balance of

Merchandise Inventory agrees with the physical
inventory on hand at the end of the period.
• Since inventory shrinkage cannot be totally
eliminated, it is considered a normal cost of
operations.
o If the amount of the shrinkage is unusually
large, it may be disclosed separately on the
income statement. In such cases, the shrinkage
may be recorded in a separate account, such
as Loss from Inventory Shrinkage.
©2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
 CLOSING ENTRIES
Debit each temporary account with a credit balance, such as Sales, for
its balance and credit Income Summary.

Credit each temporary account with a debit balance, such as various

expenses, for the balance and debit Income Summary.

Debit Income Summary for the amount of its balance (net income) and
credit the owner’s equity account.

Debit the owner’s capital account for the balance of the drawing account
and credit the drawing account.

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CLOSING ENTRIES FOR PERPETUAL SYSTEM

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CLOSING ENTRIES FOR PERIODIC SYSTEM

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• After the closing entries are posted to the
accounts, a post-closing trial balance is
prepared.
• The only accounts that should appear on the post-
closing trial balance are the asset, contra asset,
liability, and owner’s capital accounts with balances.
• These are the same accounts that appear on the end-of-
period balance sheet.
• If the two totals of the trial balance columns are not
equal, an error has occurred that must be found and
corrected.

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 Multiple-Step and Comprehensive
Income Statements
• Shows several steps in determining net income
• Two steps relate to principal operating activities
• Distinguishes between operating and non-operating
activities

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 PW Audio Supply
Income Statement
For the Year Ended December 31, 2020

Multiple- Sales
Sales revenue $480,000

Step Less: Sales returns and allowances

Sales discounts
Net sales
$12,000
8,000 20,000
460,000
Cost of merchandise sold 316,000
Key Items: Gross profit 144,000
Operating expenses
• Net sales Salaries and wages expense 64,000
Utilities expense 17,000
• Gross profit Advertising expense
Depreciation expense
16,000
8,000
Freight-out 7,000
• Operating Insurance expense 2,000
expenses Total operating expenses
Income from operations
114,000
30,000
Other revenues and gains
• Nonoperating Interest revenue 3,000
Gain on disposal of plant assets 600 3,600
activities Other expenses and losses
Interest expense 1,800
• Net income Casualty loss from vandalism 200 2,000
Net income $ 31,600

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 PW Audio Supply
Income Statement
For the Year Ended December 31, 2020

Multiple- Sales
Sales revenue $480,000

Step Less: Sales returns and allowances

Sales discounts
Net sales
$12,000
8,000 20,000
460,000
Cost of merchandise sold 316,000
Key Items: Gross profit 144,000
Operating expenses
• Net sales Salaries and wages expense 64,000
Utilities expense 17,000
• Gross profit Advertising expense
Depreciation expense
16,000
8,000
Freight-out 7,000
• Operating Insurance expense 2,000
expenses Total operating expenses
Income from operations
114,000
30,000
Other revenues and gains
• Nonoperating Interest revenue 3,000
Gain on disposal of plant assets 600 3,600
activities Other expenses and losses
Interest expense 1,800
• Net income Casualty loss from vandalism 200 2,000
Net income $ 31,600

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 Single-Step Income Statement
• Subtract total expenses from total revenues
• Two reasons for using single-step format:
 Company does not realize any profit until total
revenues exceed total expenses
 Format is simpler and easier to read

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 Single-Step
PW Audio Supply ILLUSTRATION 5.15

Income Statement
For the Year Ended December 31, 2020
Revenues
Net sales $460,000
Interest revenue 3,000
Gain on disposal of plant assets 600
Total revenues 463,600
Expenses
Cost of merchandise sold $316,000
Operating expenses 114,000
Interest expense 1,800
Casualty loss from vandalism 200
Total expenses 432,000
Net income $ 31,600

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 Worksheet for a
Appendix 5A
Merchandising Company
As indicated in Chapter 4, a worksheet enables
companies to prepare financial statements before they
journalize and post adjusting entries. The steps in
preparing a worksheet for a merchandising company are
the same as for a service company. Illustration 5A.1
shows the worksheet for PW Audio Supply (excluding
nonoperating items). The unique accounts for a
merchandiser using a perpetual inventory system are in
red.

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 PW Audio Supply
ILLUSTRATION 5A.1
Worksheet
Worksheet perpetual system
For the Month Ended December 31, 2020
Adjusted Income
Trial Balance Adjustments Trial Balance Statement Balance Sheet
Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 9,500 9,500 9,500
Accounts Receivable 16,000 1,6100 1,6100
Inventory 40,500 (a) 500 40,000 40,000
Prepaid Insurance 3,800 (b) 2,000 1,800 1,800
Equipment 80,000 80,000 80,000
Accumulated Depreciation 16,000 (c) 8,000 24,000 24,000
Accounts Payable 20,400 20,400 20,400
Owner's Capital 83,000 83,000 83,000
Owner's Drawings 15,000 15,000 15,000
Service Revenue 480,000 480,000 480,000
Sales Returns and Allow. 12,000 12,000 12,000
Sales Discounts 8,000 8,000 8,000
Cost of merchandise Sold 315,500 (a) 500 316,000 316,000
Freight-Out 7,000 7,000 7,000
Advertising Expense 16,000 16,000 16,000
Salaries and Wages Expense 59,000 (d) 5,000 64,000 64,000
Utilities Expense 17,000 17,000 17,000
Totals 599,400 599,400
Insurance Expense (b) 2,000 2,000 2,000
Depreciation Expense (c) 8,000 8,000 8,000
Salaries and Wages Payable (d) 5,000 5,000 5,000
Totals 15,500 15,500 612,400 612,400 450,000 450,000 162,400 132,400
Net Income 30,000 30,000
Totals 480,000 480,000 162,400 162,400

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 PW Audio Supply
ILLUSTRATION 5B.5
Worksheet
Worksheet periodic system
For the Month Ended December 31, 2020
Adjusted Income
Trial Balance Adjustments Trial Balance Statement Balance Sheet
Account Titles Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Cash 9,500 9,500 9,500
Accounts Receivable 16,000 1,6100 1,6100
Inventory 36,000 36,000 36,000 40,000 40,000
Prepaid Insurance 3,800 (a) 2,000 1,800 1,800
Equipment 80,000 80,000 80,000
Accumulated Depreciation 16,000 (b) 8,000 24,000 24,000
Accounts Payable 20,400 20,400 20,400
Owner's Capital 83,000 83,000 83,000
Owner's Drawings 15,000 15,000 15,000
Service Revenue 480,000 480,000 480,000
Sales Returns and Allow. 12,000 12,000 12,000
Sales Discounts 8,000 8,000 8,000
Purchases 325,000 325,000 325,000
Purchase Returns and Allow 10,400 10,400 10,400
Purchase Discounts 6,800 6,800 6,800
Freight-In 12,200 12,200 12,200
Freight-Out 7,000 7,000 7,000
Advertising Expense 16,000 16,000 16,000
Salaries and Wages Expense 59,000 (c) 5,000 64,000 64,000
Utilities Expense 17,000 17,000 17,000
Totals 616,600 616,600
Insurance Expense (a) 2,000 2,000 2,000
Depreciation Expense (b) 8,000 8,000 8,000
Salaries and Wages Payable (d) 5,000 5,000 5,000
Totals 15,500 15,500 629,600 629,600 507,200 537,200 162,400 132,400
Net Income 30,000 30,000
Totals 537,200 537,200 162,400 162,400

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