Soal Pert 6 - Merchandising Business - Jordy

ASISTENSI PENGANTAR AKUNTANSI 1
PERTEMUAN 6: ACCOUNTING FOR MERCHANDISING BUSINESS

ASDOS: JORDY
SOAL1
J. Hafner, a former professional tennis star, operates Hafners Tennis Shop at the Miller Lake Resort. At the
beginning of the current season, the ledger of Hafners Tennis Shop showed Cash $2,500, Merchandise
Inventory $1,700, and J. Hafner, Capital $4,200.The following transactions were completed during April.
Apr. 4 Purchased racquets and balls from Wellman Co. $840, FOB shipping point, terms 2/10, n/30.
6 Paid freight on purchase from Wellman Co. $40.
8 Sold merchandise to members $1,150, terms n/30. The merchandise sold had a cost of $790.
10 Received credit of $40 from Wellman Co. for a racquet that was returned.
11 Purchased tennis shoes from Venus Sports for cash, $420.
13 Paid Wellman Co. in full.
14 Purchased tennis shirts and shorts from Serenas Sportswear $900, FOB shipping point, terms
3/10, n/60.
12 Purchased golf shoes, sweaters, and other accessories on account from Dagger Sportswear $340,
terms 1/10, n/30.
14 Paid Mickelson Co. in full.
17 Received credit from Dagger Sportswear for merchandise returned $40.
20 Made sales on account to members $600, terms n/30.
21 Paid Dagger Sportswear in full.
27 Granted credit to members for clothing that had flaws $35.
30 Received payments on account from members $650.
The chart of accounts for the pro shop includes Cash; Accounts Receivable, Merchandise Inventory;
Accounts Payable; Irene Tiger, Capital; Sales; Sales Returns and Allowances; Purchases; Purchase
Returns and Allowances; Purchase Discounts, and Freight-in.
Instructions
(a) Journalize the April transactions using a periodic inventory system.
(b) Using T accounts, enter the beginning balances in the ledger accounts and post the April
transactions.
15 Received cash refund of $50 from Venus Sports for damaged merchandise that was returned.
(c) Prepare a trial balance on April 30, 2010.
17 Paid freight on Serenas Sportswear purchase $30.
(d) Prepare an income statement through gross profit, assuming merchandise inventory on hand
18 Sold merchandise to members $810, terms n/30.The cost of the merchandise sold was $530.
at April 30 is $4,726.
20 Received $500 in cash from members in settlement of their accounts.
Soal 3
21 Paid Serenas Sportswear in full.
At the end of Gordman Department Stores fiscal year on December 31, 2010, these accounts appeared in
its adjusted trial balance.
27 Granted an allowance of $30 to members for tennis clothing that did not fit properly.
Freight-in $ 5,600
30 Received cash payments on account from members, $660.
Merchandise Inventory 40,500
The chart of accounts for the tennis shop includes the following: No. 101 Cash, No. 112 Accounts
Receivable, No. 120 Merchandise Inventory, No. 201 Accounts Payable, No. 301 J. Hafner, Capital, No.
401 Sales, No. 412 Sales Returns and Allowances, No. 505 Cost of Goods Sold.
Purchases 447,000
Purchase Discounts 12,000
Instructions
Purchase Returns and Allowances 6,400
(a) Journalize the April transactions using a perpetual inventory system.
Sales 718,000
(b) Enter the beginning balances in the ledger accounts and post the April transactions.
Sales Returns and Allowances 8,000
(c) Prepare a trial balance on April 30, 2010.
Additional facts:
SOAL 2
1. Merchandise inventory on December 31, 2010, is $75,000.
At the beginning of the current season on April 1, the ledger of Five Pines Pro Shop showed Cash $3,000;
Merchandise Inventory $4,000; and Irene Tiger, Capital $7,000.These transactions occurred during April
2010.
2. Note that Gordman Department Store uses a periodic system.
Apr. 5 Purchased golf bags, clubs, and balls on account from Mickelson Co. $1,200,FOB shipping point,
terms 2/10, n/60.
Prepare an income statement through gross profit for the year ended December 31, 2010.
Instructions
7 Paid freight on Mickelson Co. purchases $50.

9 Received credit from Mickelson Co. for merchandise returned $100.
10 Sold merchandise on account to members $600, terms n/30.
Asis6AccountingforMerchandisingBusinessJordy
Asis6AccountingforMerchandisingBusinessJordy

Soal Pert 6 - Merchandising Business - Jordy

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ASISTENSI PENGANTAR AKUNTANSI 1

PERTEMUAN 6: ACCOUNTING FOR MERCHANDISING BUSINESS

(c) Prepare a trial balance on April 30, 2010.

17 Paid freight on Serenas Sportswear purchase $30.

20 Received $500 in cash from members in settlement of their accounts.

21 Paid Serenas Sportswear in full.

30 Received cash payments on account from members, $660.

Merchandise Inventory 40,500

Purchase Returns and Allowances 6,400

(a) Journalize the April transactions using a perpetual inventory system.

Sales Returns and Allowances 8,000

(c) Prepare a trial balance on April 30, 2010.

1. Merchandise inventory on December 31, 2010, is $75,000.

2. Note that Gordman Department Store uses a periodic system.

7 Paid freight on Mickelson Co. purchases $50.

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