E 5-1

1 1
2 0 for a merchandising company sales less of goods sold is called gross profit
3 1
4 1

0 The opearting cycle of a merchandising company differens from that of a services company.The
5 operating cycle of a merchandising company is ordinary longer.
6 0 In a periodic inventory system ,no detailed inventory records of goods on hand are maintaned
7 1
8 0 A perpetual inventory system provides better control over inventories than a periodic system.

E 5-2

a. 5-Apr Merchandise inventory 25,000

Accounts payable 25,000
6-Apr Merchandise inventory 900
Cash 900
7-Apr Equipment 26,000
Accounts payable 26,000
8-Apr Accounts payable 4,000
Merchandise inventory 4,000
15-Apr Accounts payable 21,000
(25.000 - 4.000 )
Merchandise inventory 420
(25.000 - 4.000 ) x 2%
Cash 20,580
( 21.000 - 420 )

b. 4-May Accounts payable 21,000

Cash 21,000

E 5-3

6-Sep Merchandise inventory ( 80 x 20 ) 1,600

Cash 1,600
9-Sep Merchandise inventory 80
Cash 80
10-Sep Accounts payable ( 2 x 21 ) 42
Merchandise inventory 42
12-Sep Accounts receivable ( 26 x 31 ) 806
Sales 806
Cost of goods sold (26 x 31 ) 546
Merchandise inventory 546
14-Sep Sales retunns and allowances 31
Accounts receivable 31
Merchandise inventory 21
Cost of goods sold 21
20-Sep Accounts receivable ( 30 x 31 ) 930
Sales 930
Cost of goods sold 630
Merchandise inventory 630
 E 5-4

a. 10-Jun Merchandise inventory 8,000

Accounts payable 8,000
11-Jun Merchandise inventory 400
Cash 400
12-Jun Accounts payable 300
Merchandise inventory 300
19-Jun Accounts payable 7,700
Merchandise inventory
($ 7.700 2 % ) 154
Cash ($7.700 - $ 154 ) 7,546

b. 10-Jun Accounts receivable 8,000

Sales 8,000
Cost of goods sold 5,000
Merchandise inventory 5,000
12-Jun Sales returns and allowances 300
Accounts receivable 300
Merchandise inventory 150
Cost of goods sold 150
19-Jun Cash ($7,700 - $ 154 ) 7,456
Sales discounts ($7,700 x 2% ) 154
Accounts receivable 7,700
($8,000 - $300)

E 5-5

a. 3-Dec Accounts receivable 500,000

Sales 500,000
Cost of goods sold 350,000
Merchandise inventory 350,000
8-Dec Sales returns and allowances 27,000
Accounts receivable 27,000
13-Dec Cash (HK$473,000 - HK$9,460 ) 465,540
Sales discounts
{(HK$500,000 - HK$27,000)x2%} 9,460
Accounts receivable
{(HK$500,000 - HK$27,000) 473,000

b. Cash 473,000
Accounts receivable
(HK$500,000 - HK$27,000) 473,000
 Nama : Zakiyyatush Sholihah
Kelas : MJ 18i
NIM : 0311518147

E 5-1

1 1
2 0 for a merchandising company sales less of goods sold is called gross profit
3 1
4 1
The opearting cycle of a merchandising company differens from that of a services company.The operating cycle of a
5 0 merchandising company is ordinary longer.
6 0 In a periodic inventory system ,no detailed inventory records of goods on hand are maintaned
7 1
8 0 A perpetual inventory system provides better control over inventories than a periodic system.

E 5-2

a. 5-Apr Merchandis 25,000

Accounts payable 25,000
6-Apr Merchandis 900
Cash 900
7-Apr Equipment 26,000
Accounts payable 26,000
8-Apr Accounts p 4,000
Merchandise inventory 4,000
15-Apr Accounts p 21,000
(25.000 - 4.000 )
Merchandise invento 420
(25.000 - 4.000 ) x 2%
Cash 20,580
( 21.000 - 420 )

b. 4-May Accounts p 21,000

Cash 21,000

E 5-3

6-Sep Merchandise 1,600

Cash 1,600
9-Sep Merchandis 80
Cash 80
10-Sep Accounts pa 42
 Merchandise inventory 42
12-Sep Accounts re 806
Sales 806
Cost of goo 546
Merchandise inventory 546
14-Sep Sales retu 31
Accounts receivable 31
Merchandis 21
Cost of goods sold 21
20-Sep Accounts re 930
Sales 930
Cost of go 630
Merchandise inventory 630

E 5-4

a. 10-Jun Merchandis 8,000

Accounts payable 8,000
11-Jun Merchandis 400
Cash 400
12-Jun Accounts p 300
Merchandise inventory 300
19-Jun Accounts p 7,700
Merchandise inventory
($ 7.700 2 % ) 154
Cash ($7.700 - $ 154 7,546

b. 10-Jun Accounts r 8,000

Sales 8,000
Cost of go 5,000
Merchandise inventory 5,000
12-Jun Sales retu 300
Accounts receivable 300
Merchandis 150
 Cost of goods sold 150
19-Jun Cash ($7,70 7,456
Sales discounts ($7,700 x 2%
154)
Accounts receivable 7,700
($8,000 - $300)

E 5-5

a. 3-Dec Accounts r 500,000

Sales 500,000
Cost of go 350,000
Merchandise inventory 350,000
8-Dec Sales retu 27,000
Accounts receivable 27,000
13-Dec Cash (HK$4 465,540
Sales discounts
{(HK$500,0 9,460
Accounts receivable
{(HK$500,000 - HK$27,000) 473,000

b. Cash 473,000
Accounts receivable
(HK$500,000 - HK$27 473,000
ed gross profit

company.The operating cycle of a

n hand are maintaned

han a periodic system.