Beruflich Dokumente
Kultur Dokumente
My Boutique
Solution to Problem Statement
Dr Cr
22 Jan 09 Cash S$400
Unearned revenue S$400
(Being unearned revenue for 3 evening gowns)
Solution to Problem Statement
Cash deposit received for goods to be delivered later – cont…
Dr Cr
4 Feb 09 Unearned revenue S$400
Cash S$950
Sales S$1,350
(To record sale of 3 evening gowns)
Sales returns
1 of the business suits sold on 2 Jan was returned on 4 Jan as its size
was incorrect.
Dr Cr
Less: COGS
Liability in the Warranty
statement of financial expenses
position
Gross Profit
Net Profit
Textbooks
Kieso, Weygandt and Warfield; Fundamentals of Intermediate Accounting; John
Wiley & Sons, Inc.; 2003; Chapter 11 pg 533-536.
Spiceland, Sepe, Tomassini; Intermediate Accounting; McGraw-Hill/Irwin; 2004;
Chapter 7 pg 324-327.
Libby, Libby, Short; Financial Accounting; McGraw-Hill/Irwin; 2004; Chapter 6 pg
286-288.
Websites
Principles of Accounting.com,
http://www.principlesofaccounting.com/chapter%2012.htm, Retrieved on 2 Mar
2009 (Search for warranty costs)
Principles of Accounting.com,
http://www.principlesofaccounting.com/chapter%205.htm, Retrieved on 2 Mar
2009
Chapter 5: Merchandising Operations and the Accounting Cycle
http://faculty.saintleo.edu/pendarvis/acc-201-mod10-notes.htm, Retrieved on 2
Mar 2009
FRS 18 – Revenue http://www.asc.gov.sg/frs/attachments/2004/FRS_18.pdf ,
Retrieved on 2 Mar 2009