MATERI POKOK

• Siklus operasi
• Arus beban baik untuk sistem persediaan periodik dan perpetual
• Pencatatan pembelian barang dagang
• Pencatatatan penjualan barang dagang
• Penyelesaian siklus akuntansi
• Bentuk laporan laba rugi single step dan multiple step
 Accounting for Merchandising Operations

Recording Recording Completing the Forms of

Merchandising
Purchases of Sales of Accounting Financial
Operations
Merchandise Merchandise Cycle Statements

Operating Freight costs Sales returns Adjusting Multiple-step

cycles and entries income statement
Purchase
allowances Single-step
Inventory returns and Closing entries
income statement
systems— allowances Sales Summary of Classified
perpetual and Purchase discounts merchandising statement of
periodic discounts entries financial positions
Summary of Determining cost
purchasing of goods sold
transactions under a periodic
system
Merchandising Operations
Merchandising Companies
Buy and Sell Goods

Wholesaler Retailer Consumer

The primary source of revenues is referred to as sales

revenue or sales.
 Income Measurement
Not used in a Service
Sales Less
business.
Revenue

Cost of Equals Gross Less

Goods Sold Profit

Operating Equals Net

Cost of goods sold is the total cost of
Expenses Income
merchandise sold during the period.
(Loss)
 Operating Cycles
The operating
cycle of a
merchandising
company
ordinarily is longer
than that of a
service company.
Inventory Systems
Perpetual System
Features:
1. Purchases increase Merchandise Inventory.
2. Freight costs, Purchase Returns and Allowances and Purchase
Discounts are included in Merchandise Inventory.
3. Cost of Goods Sold is increased and Merchandise Inventory is
decreased for each sale.
4. Physical count done to verify Merchandise Inventory balance.
The perpetual inventory system provides a continuous record of Merchandise
Inventory and Cost of Goods Sold.
Inventory Systems
Periodic System
Features:
1. Purchases of merchandise increase Purchases.
2. Ending Inventory determined by physical count.
3. Calculation of Cost of Goods Sold:

Beginning inventory $ 100,000

Add: Purchases, net 800,000
Goods available for sale 900,000
Less: Ending inventory 125,000
Cost of goods sold $ 775,000
Recording Purchases of Merchandise

Made using cash or credit (on

account).
Normally recorded when
goods are received.
Purchase invoice should
support each credit
purchase.
Recording Purchases of Merchandise

Freight Costs
Terms
FOB shipping point - seller places goods Free On Board the
carrier, and buyer pays freight costs.
FOB destination - seller places the goods Free On Board to
the buyer’s place of business, and seller pays freight costs.

Freight costs incurred by the seller on outgoing merchandise are an operating expense
to the seller (Freight-out or Delivery Expense).
Recording Purchases of Merchandise
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 the
sale was made on credit, or
for a cash refund if the
purchase was for cash.
May choose to keep the
merchandise if the seller will
grant an allowance
(deduction) from the
purchase price.
Recording Purchases of Merchandise
Purchase Discounts
Credit terms may permit buyer to claim a cash discount for
prompt payment.
Advantages:
Purchaser saves money.
Seller shortens the operating cycle.

Example: Credit terms of 2/10, n/30, is read “two-ten, net thirty.” 2%

cash discount if payment is made within 10 days.
Recording Purchases of Merchandise

Purchase Discounts Terms

2/10, n/30 1/10 EOM n/10 EOM

2% discount if 1% discount if Net amount due

paid within 10 paid within first within the first 10
days, otherwise 10 days of next days of the next
net amount due month. month.
within 30 days.
Recording Sales of Merchandise
Made for cash or credit (on
account).
Normally recorded when
earned, usually when
goods transfer from
seller to buyer.
Sales invoice should
support each credit
sale.
 Recording Sales of Merchandise
Two Journal Entries to Record a Sale

#1 Cash or Accounts receivable XXX Selling

Sales XXX Price

#2 Cost of goods sold XXX

Cost
Merchandise inventory XXX
Recording Sales of Merchandise
Sales Returns and Allowances
“Flipside” of purchase returns and allowances.
Contra-revenue account (debit).
Sales not reduced (debited) because:
 would obscure importance of sales returns and
allowances as a percentage of sales.
 could distort comparisons between total sales in
different accounting periods.
 Recording Sales of Merchandise
Sales Discount
Offered to customers to promote prompt payment.
“Flipside” of purchase discount.
Contra-revenue account (debit).
Completing the Accounting Cycle
Adjusting Entries
Generally the same as a service company.
One additional adjustment to make the records agree with
the actual inventory on hand.
Involves adjusting Merchandise Inventory and Cost of
Goods Sold.
Forms of Financial Statements
Multiple-Step Income Statement
Shows several steps in determining net income.
Two steps relate to principal operating activities.
Distinguishes between operating and non-operating
activities.
 Forms of
Financial
Statements

Key Items:
Net sales
Gross profit
Gross profit rate
Operating
expenses
Forms of
Financial
Statements
Key Items:
Net sales
Gross profit
Gross profit rate
Operating
expenses
Nonoperating
activities
Net income
Forms of Financial Statements
Single-Step Income Statement
Subtract total expenses from total revenues
Two reasons for using the single-step format:
1) Company does not realize any type of profit until total
revenues exceed total expenses.
2) Format is simpler and easier to read.
 Forms of Financial Statements
Single-Step
 Calculation of
Gross Profit

Key Items:
Net sales
Gross profit
Gross profit rate
Determining Cost of Goods Sold
Under a Periodic System
Periodic System
Separate accounts used to record purchases, freight
costs, returns, and discounts.
Company does not maintain a running account of
changes in inventory.
Ending inventory determined by physical count.
Determining Cost of Goods Sold Under a Periodic
System
Calculation of Cost of Goods Sold

$316,000