Merchandising Operations

Slides:



Advertisements
Similar presentations
Sample Problem Chapter 8.
Advertisements

© PHI Learning, All rights reserved.1 Financial Accounting: A Managerial Perspective Third Edition Prepared by R. Narayanaswamy Indian Institute.
Accounting for Merchandising Operations
Reporting and Analyzing Merchandising Activities
ACCOUNTING FOR MERCHANDISING OPERATIONS
ACCOUNTING FOR MERCHANDISING OPERATIONS
The Operating Cycle and Merchandising Operations 6.
Financial and Managerial Accounting Wild, Shaw, and Chiappetta Fourth Edition Wild, Shaw, and Chiappetta Fourth Edition McGraw-Hill/Irwin Copyright © 2011.
MERCHANDISING COMPANY
Copyright © 2007 Prentice-Hall. All rights reserved 1 Merchandising Operations Chapter 5.
Copyright © 1999 by M. Ray Gregg. All Rights Reserved. 1 Service Merchandising.
©The McGraw-Hill Companies, Inc. 2006McGraw-Hill/Irwin Chapter Five Accounting for Merchandising Businesses.
Chapter 4 Accounting for Merchandising Operations.
Financial and Managerial Accounting Wild, Shaw, and Chiappetta Fifth Edition Wild, Shaw, and Chiappetta Fifth Edition McGraw-Hill/Irwin Copyright © 2013.
Accounting for Merchandising Businesses
Previous Lecture Operating Cycle of a Merchandising Company Comparing Merchandising Activities with Manufacturing Activities Retailers and Wholesalers.
Accounting for Merchandising Operations
Financial Accounting, Seventh Edition
©CourseCollege.com 1 6 Merchandising Learning Objectives 1.Describe selected merchandising activities 2.Account for the purchase and sale of merchandise.
Acct 2210: Chp 4 (Omit pg 227 & the Appendix) Accounting for Merchandising Businesses McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies,
© Copyright by M. Ray Gregg. All Rights Reserved. 1.
Special Journals: Purchases and Cash Payments Chapter 10.
8-1 © 2010 The McGraw-Hill Companies, Inc. All rights reserved.
ACCOUNTING FOR MERCHANDISING OPERATIONS
Copyright © 2007 Prentice-Hall. All rights reserved 1 Merchandising Operations Chapter 5.
Perpetual Inventory System
Reporting & Analyzing Merchandising Operations
Accounting for Merchandising Businesses
5 - 1 ©2002 Prentice Hall, Inc. Business Publishing Accounting, 5/E Horngren/Harrison/Bamber Merchandising Operations and the Accounting Cycle Chapter.
Unit 1.5 Accounting for a Merchandising Operation.
ACCOUNTING FOR MERCHANDISING OPERATIONS
© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin Chapter Five Accounting for Merchandising Businesses.
© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin Chapter 4 Reporting and Analyzing Merchandising Operations.
BACTNG1 QUIZ BEE. Question #1 List Price:200,000 Trade Discount:8% Credit Term:3/10, n/30 How much is the invoice price?
@ 2012, Cengage Learning Accounting for Merchandising Businesses LO 3b – Recording Purchase Transactions.
5-1 Quest will occur on Thursday October 9 2 Unit 2: Chapter 5.
Accounting for Merchandising Activities PowerPoint Slides to accompany Fundamental Accounting Principles, 14ce Prepared by Joe Pidutti, Durham College.
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.
Accounting for Merchandising Businesses Chapter 6 1.
6 Accounting for Merchandising Businesses Student Version.
Accounting for Merchandising Activities Accounting for Merchandising Activities C H A P T E R 5 Part 1.
Copyright © 1999, 2002 by M. Ray Gregg. All Rights Reserved. 1.
8–18–1 Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
© Prentice-Hall of India Private Limited, All rights reserved.1 Financial Accounting: A Managerial Perspective Second Edition Prepared by R. Narayanaswamy.
Purchase Orders, Invoices, and Shipping Chapter 16 Sec 3.
Controlling and Reporting Merchandise Sales Inventory Quantities Inventory Costs Financial Statements Unsold Inventory Balance Sheet Sold Inventory Income.
© The McGraw-Hill Companies, Inc., 2007 McGraw-Hill/Irwin Chapter 5 Accounting for Merchandising Operations.
Chapter 2 MR. MOHAMMED BABIKER - FALL-15/16 MR. MOHAMMED BABIKER - SPRING 15/16.
McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Merchandising Activities Chapter 6.
@ 2012, Cengage Learning Accounting for Merchandising Businesses LO 3a – Recording Sales Transactions.
0 Glencoe Accounting Unit 4 Chapter 17 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Using the Purchases Journal The purchases journal.
Chapter Four Accounting for Merchandising Businesses McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Accounting for Merchandising Operations ACCT
Chapter Four Accounting for Merchandising Businesses McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 12 Merchandise Purchases and Accounts Payable.
CHAPTER TWELVE ACCOUNTING FOR PURCHASES AND CASH PAYMENTS.
Point 10 Purchase Returns & Allowances, Discounts Seller’s responsibility :  damaged,  defective,  of inferior quality,  not meet buyer’s specifications.
Inventories: Measurement (Part 1)
Professor Eric Carstensen
Accounting for Merchandising Operations in Hospitality
Chapter 10 Purchases and Cash Payments
Matakuliah : V0232 – Akuntansi Keuangan Hotel
Purchase Returns and Allowances
Point 13 Sales Returns & Allowances, Discounts
Purchases and Cash Payments
Special Journals: Purchases and Cash Payments
Certified General Accountants
Example Exercise 3 Cash or On Account
Special Journals: Sales and Cash Receipts
Presentation transcript:

Merchandising Operations Chapter 5 Exercises Accounting for Merchandising Operations

Merchandising Transactions In-Class Exercises: Exercise No. Page 5-1 211 Merchandise purchases

Merchandise Purchases Prepare journal entries to record the following transactions for a retail store. Assume a perpetual inventory system. Apr. 2 Purchased merchandise from Blue Company under the following terms: $3,600 price, invoice dated April 2, credit terms of 2/15,n/60, and FOB shipping point. 3 Paid $200 for shipping charges on the April 2 purchase. 4 Returned to Blue Company unacceptable merchandise that had an invoice price of $600. 17 Sent a check to Blue Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased merchandise from Fox Corp. under the following terms: $7,500 price, invoice dated April 18, credit terms of 2/10,n/30, and FOB destination. 21 After negotiations, received from Fox a $2,100 allowance on the April 18 purchase. 28 Sent check to Fox paying for the April 18 purchase, net of the discount and allowance.

Merchandise Purchases

Merchandise Purchases Discount ($3,000 x 2% = $60)

Merchandise Purchases End of Exercise

Seller Transactions Exercise No. Page 5-2 211 Seller transactions only

Seller Transactions Taos Company purchased merchandise for resale from Tuscon Company with an invoice price of $22,000 and credit terms of 3/10, n/60. The merchandise had cost Tuscon $15,000. Taos paid within the discount period. Assume that Tuscon uses a perpetual inventory System. Prepare entries that the seller (Tuscon) should record for: a. The sale. b. The cash collection.

Seller Transactions Discount ($22,000 x 3% = $660)

Seller Transactions

Seller Transactions End of Exercise

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com Inc. All rights reserved.