PR 6-1A Purchase-related transactions

The following selected transactions were completed by Samarinda during October of the current year:

Oct 1. Purchased merchandise from Kuta Indah, Rp14.448.000, terms FOB destination, n/30.

3. Purchased merchandise from Batam, Rp9.950.000, terms FOB shipping point, 2/10, n/eom.
Prepaid freight of Rp220.000 was added to the invoice.

4. Purchased merchandise from Palembang, Rp13.650.000 terms FOB destination, 2/10, n/30.

6. Issued debit memo to Palembang for Rp4.550.000 of merchandise returned from purchase on
October 4.

13. Paid Batam for invoice of October 3, less discount.

14. Paid Palembang for invoice of October 4, less debit memo of October 6 and discount.

19. Purchased merchandise from Cisarua, Rp27.300.000, terms FOB shipping point, n/eom.

19. Paid freight of Rp400.000 on October 19 purchase from Cisarua.

20. Purchased merchandise from Gilimanuk, Rp22.000.000, terms FOB destination, 1/10, n/30.

30. Paid Gilimanuk for invoice of October 20, less discount.

31. Paid Kuta Indah for invoice of October 1.

31. Paid Cisarua for invoice of October 19.

INSTRUCTIONS

Journalize the entries to record the transactions of Samarinda for October.

PR 6-4A Sales-related and purchase-related transactions for seller and buyer

The following selected transactions were completed during August between Sulis and Baskoro:

Oct. 1. Sulis sold merchandise on account to Baskoro, Rp48.000.000, terms FOB destination, 2/15,
n/eom. The cost of the merchandise sold was Rp28.800.000

2. Sulis paid freight of Rp1.150.000 for delivery of merchandise sold to Baskoro on August 1.

5. Sulis sold merchandise on account to Baskoro, Rp66.000.000, terms FOB shipping point,
n/eom. The cost of the merchandise sold was Rp40.000.000
 6. Baskoro returned Rp10.500.000 of merchandise purchased on account on August 1 from Sulis.
The cost of the merchandise returned was Rp6.300.000

9. Baskoro paid freight of Rp2.300.000 on August 5 purchase from Sulis.

15. Sulis sold merchandise on account to Baskoro, Rp58.700.000, terms FOB shipping point,
1/10, n/30. Sulis paid freight of Rp1.675.000, which was added to the invoice. The cost of the
merchandise sold was Rp35.000.000.

16. Baskoro paid Sulis for purchase of August 1, less discount and less return of August 6.

25. Baskoro paid Sulis on account for purchase of August 15, less discount.

31. Baskoro paid Sulis on account for purchase of August 5.

INSTRUCTIONS

Journalize the August transactions for (1) Sulis and (2) Baskoro.
PR 6-5A Multiple-step income statement and report form of statement of financial position

The following selected accounts and their current balances appear in the ledger of Halimah for the fiscal
year ended August 31, 2015:

Cash Rp125.000.000 Sales Rp4.576.000.000

Account Receivable 335.000.000 Sales Return and Allowances 31.000.000
Merchandise Inventory 380.000.000 Sales Discounts 28.000.000
Office Supplies 12.000.000 Cost of Merchandise Sold 2.650.000.000
Prepaid Insurance 9.000.000 Sales Salaries Expense 745.000.000
Office Equipment 275.000.000 Advertising Expense 205.000.000
Accumulated Depreciation- Depreciation Expense-
Office Equipment 187.000.000 Store Equipment 40.000.000
Store Equipment 859.000.000 Miscellaneous Selling Expense 18.000.000
Accumulated Depreciation- Office Salaries Expense 410.000.000
Store Equipment 293.000.000 Rent Expense 60.000.000
Accounts Payable 193.000.000 Depreciation Expense-
Salaries Payable 12.000.000 Office Equipment 30.000.000
Note Payable Insurance Expense 18.000.000
(Final Payment Due 2037) 400.000.000 Office Supplies Expense 11.000.000
Jeremiah Halimah, Capital 675.000.000 Miscellaneous Administrative Exp. 8.000.000
Jeremiah Halimah, Drawing 75.000.000 Interest Expense 12.000.000

Instructions:

1. Prepare a multiple-step income statement.

2. Prepare a statement of changes in equity.
3. Prepare a report form of statement of financial position, assuming that the current portion of
the note payable is Rp16.000.000.
4. Briefly explain (a) how multiple-step and single-step income statements differ and (b) how
report-form and account-form statement of financial positions differ.
 JAWABAN SOAL AKT DAGANG
(PR 6-1A)
PERPETUAL SYSTEM
BUYER
Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
October 1 Merchandise Inventory 14.448.000
Account Payable-Kuta Indah 14.448.000

3 Merchandise Inventory 10.170.000

Account Payable-Batam 10.170.000

4 Merchandise Inventory 13.650.000

Account Payable-Palembang 13.650.000

6 Account Payable-Palembang 14.550.000

Merchandise Inventory 14.550.000

13 Account Payable-Batam 9.751.000

Merchandise Inventory 199.000
Cash 9.552.000

14 Account Payable-Palembang 8.918.000

Merchandise Inventory 182.000
Cash 8.736.000

19 Merchandise Inventory 27.300.000

Account Payable-Cisarua 27.300.000

19 Delivery Expense 400.000

Cash 400.000

20 Merchandise Inventory 22.000.000

Account Payable-Gilimanuk 22.000.000

30 Account Payable-Gilimanuk 21.780.000

Merchandise Inventory 220.000
Cash 21.560.000

31 Account Payable-Kuta Indah 14.448.000

Cash 14.448.000

31 Account Payable-Cisarua 27.300.000

Cash 27.300.000

184.715.000 184.715.000
SELLER

Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
October 1 Account Receivable-Samarinda 14.448.000
Sales 14.448.000

3 Account Receivable-Samarinda 9.950.000

Sales 9.950.000
Account Receivable-Samarinda 220.000
Cash 220.000

4 Account Receivable-Samarinda 13.650.000

Sales 13.650.000

6 Sales Return and Allowances 14.550.000

Account Receivable-Samarinda 14.550.000

13 Cash 9.552.000
Sales Discount 199.000
Account Receivable-Samarinda 9.751.000

14 Cash 8.736.000
Sales Discount 182.000
Account Receivable-Samarinda 8.918.000

19 Account Receivable-Samarinda 27.300.000

Sales 27.300.000

19 No Journal Entry

20 Account Receivable-Samarinda 22.000.000

Sales 22.000.000

30 Cash 21.560.000
Sales Discount 220.000
Account Receivable-Samarinda 21.780.000

31 Cash 14.448.000
Account Receivable-Samarinda 14.448.000

31 Cash 27.300.000
Account Receivable-Samarinda 27.300.000

184.315.000 184.315.000
PERIODIC SYSTEM

BUYER

Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
October 1 Purchases 14.448.000
Account Payable-Kuta Indah 14.448.000

3 Purchases 9.950.000
Freight In 220.000
Account Payable-Batam 10.170.000

4 Purchases 13.650.000
Account Payable-Palembang 13.650.000

6 Account Payable-Palembang 14.550.000

Purchases Return And
14.550.000
Allowances

13 Account Payable-Batam 9.751.000

Purchases Discount 199.000
Cash 9.552.000

14 Account Payable-Palembang 8.918.000

Purchases Discount 182.000
Cash 8.736.000

19 Purchases 27.300.000
Account Payable-Cisarua 27.300.000

19 Freight In 400.000
Cash 400.000

20 Purchases 22.000.000
Account Payable-Gilimanuk 22.000.000

30 Account Payable-Gilimanuk 21.780.000

Purchases Discount 220.000
Cash 21.560.000

31 Account Payable-Kuta Indah 14.448.000

Cash 14.448.000

31 Account Payable-Cisarua 27.300.000

Cash 27.300.000

184.715.000 184.715.000
SELLER

Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
October 1 Account Receivable-Samarinda 14.448.000
Sales 14.448.000

3 Account Receivable-Samarinda 9.950.000

Sales 9.950.000
Account Receivable-Samarinda 220.000
Cash 220.000

4 Account Receivable-Samarinda 13.650.000

Sales 13.650.000

6 Sales Return and Allowances 14.550.000

Account Receivable-Samarinda 14.550.000

13 Cash 9.552.000
Sales Discount 199.000
Account Receivable-Samarinda 9.751.000

14 Cash 8.736.000
Sales Discount 182.000
Account Receivable-Samarinda 8.918.000

19 Account Receivable-Samarinda 27.300.000

Sales 27.300.000

19 No Journal Entry

20 Account Receivable-Samarinda 22.000.000

Sales 22.000.000

30 Cash 21.560.000
Sales Discount 220.000
Account Receivable-Samarinda 21.780.000

31 Cash 14.448.000
Account Receivable-Samarinda 14.448.000

31 Cash 27.300.000
Account Receivable-Samarinda 27.300.000

184.315.000 184.315.000
(PR 6-4A)
PERPETUAL SYSTEM
BUYER

Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
August 1 Merchandise Inventory 48.000.000
Account Payable-Sulis 48.000.000

2 No Journal Entry

5 Merchandise Inventory 66.000.000

Account Payable-Sulis 66.000.000

6 Account Payable-Sulis 10.500.000

Merchandise Inventory 10.500.000

9 Delivery Expense 2.300.000

Cash 2.300.000

15 Merchandise Inventory 60.375.000

Account Payable-Sulis 60.375.000

16 Account Payable-Sulis 36.750.000

Merchandise Inventory 750.000
Cash 36.000.000

25 Account Payable-Sulis 59.788.000

Merchandise Inventory 587.000
Cash 59.201.000

26 Account Payable-Sulis 66.000.000

Cash 66.000.000

349.713.000 349.713.000
SELLER

Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
August 1 Account Receivable-Baskoro 48.000.000
Sales 48.000.000
Cost of Merchandise Sold 28.800.000
Merchandise Inventory 28.800.000

2 Delivery Expense 1.150.000

Cash 1.150.000

5 Account Receivable-Baskoro 66.000.000

Sales 66.000.000
Cost of Merchandise Sold 40.000.000
Merchandise Inventory 40.000.000

6 Sales Return And Allowances 10.500.000

Account Receivable-Baskoro 10.500.000
Cost of Merchandise Sold 6.300.000
Merchandise Inventory 6.300.000

9 No Journal Entry

15 Account Receivable-Baskoro 58.700.000

Sales 58.700.000
Account Receivable-Baskoro 1.675.000
Cash 1.675.000
Cost of Merchandise Sold 35.000.000
Merchandise Inventory 35.000.000

16 Cash 36.000.000
Sales Discount 750.000
Account Receivable-Baskoro 36.750.000

25 Cash 59.201.000
Sales Discount 587.000
Account Receivable-Baskoro 59.788.000

26 Cash 66.000.000
Account Receivable-Baskoro 66.000.000

458.663.000 458.663.000
PERIODIC SYSTEM

BUYER

Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
August 1 Purchases 48.000.000
Account Payable-Sulis 48.000.000

2 No Journal Entry

5 Purchases 66.000.000
Account Payable-Sulis 66.000.000

6 Account Payable-Sulis 10.500.000

Purchases Return and Allowances 10.500.000

9 Freight In 2.300.000
Cash 2.300.000

15 Purchases 60.375.000
Account Payable-Sulis 60.375.000

16 Account Payable-Sulis 36.750.000

Purchases Discounts 750.000
Cash 36.000.000

25 Account Payable-Sulis 59.788.000

Purchases Discounts 587.000
Cash 59.201.000

26 Account Payable-Sulis 66.000.000

Cash 66.000.000

349.713.000 349.713.000
SELLER

Post
DATE DESCRIPTIONS DEBET CREDIT
Ref.
August 1 Account Receivable-Baskoro 48.000.000
Sales 48.000.000

2 Freight out 1.150.000

Cash 1.150.000

5 Account Receivable-Baskoro 66.000.000

Sales 66.000.000

6 Sales Return And Allowances 10.500.000

Account Receivable-Baskoro 10.500.000

9 No Journal Entry

15 Account Receivable-Baskoro 58.700.000

Sales 58.700.000
Account Receivable-Baskoro 1.675.000
Cash 1.675.000

16 Cash 36.000.000
Sales Discount 750.000
Account Receivable-Baskoro 36.750.000

25 Cash 59.201.000
Sales Discount 587.000
Account Receivable-Baskoro 59.788.000

26 Cash 66.000.000
Account Receivable-Baskoro 66.000.000

348.563.000 348.563.000
 (PR 6-5A)
1. MULTIPLE-STEP INCOME STATEMENT
HALIMAH
Income Statement
For the Fiscal Year Ended August 31, 2015

Revenue from sales:

Sales………………………………………………………....... Rp4.576.000.000
Less: Sales return and allowances………………. Rp31.000.000
Sales discount……………………………………. 28.000.000 59.000.000
Net sales………………………………………………….. Rp4.517.000.000
Cost of merchandise sold………………………………. 2.650.000.000
Gross profit……………………………………………………. Rp1.867.000.000
Operating expenses:
Selling expense:
Sales salaries expense………………………………. Rp745.000.000
Advertising expense…………………………………. 205.000.000
Depreciation expense-store equipment…… 40.000.000
Miscellaneous expense…………………………….. 18.000.000
Total selling expense…………………………….. Rp1.008.000.000
Administrative expense:
Office salaries expense…………………………….. Rp410.000.000
Rent expense……………………………………………. 60.000.000
Depreciation expense-office equipment….. 30.000.000
Insurance expense……………………………………. 18.000.000
Office supplies expense……………………………. 11.000.000
Miscellaneous administrative expense…….. 8.000.000
Total administrative expense……………….. 537.000.000
Total operating expenses…………………………. 1.545.000.000
Income from operations………………………………. Rp 322.000.000
Other income and expense:
Interest expense………………………………………… 12.000.000
Net income……………………………………… Rp 310.000.000

2. STATEMENT OF CHANGES IN EQUITY

HALIMAH
Statement of Changes in Equity
For the Fiscal Year Ended August 31, 2015

Jeremiah Halimah, Capital Rp675.000.000

Net income Rp310.000.000
Less withdrawal 75.000.000
Increase in owner’s equity 235.000.000
Jeremiah Halimah, Capital, August 31, 2015 Rp910.000.000
 3. REPORT-FORM OF STATEMENT OF FINANCIAL POSITION

HALIMAH
Statement of Financial Position
August 31, 2015

Assets
Current assets:
Cash Rp125.000.000
Account receivable 335.000.000
Merchandise inventory 380.000.000
Office supplies 12.000.000
Prepaid insurance 9.000.000
Total current assets Rp 861.000.000
Fixed assets:
Office equipment Rp275.000.000
Less accumulated-depreciation 187.000.000 Rp 88.000.000
Store equipment Rp859.000.000
Less accumulated-depreciation 293.000.000 566.000.000
Total fixed assets 654.000.000
Total assets Rp1.515.000.000

Liabilities
Current liabilities:
Account payable Rp193.000.000
Salaries payable 12.000.000
Note payable (current portion) 16.000.000
Total current liabilities Rp 221.000.000
Long-term liabilities:
Note payable (due 2037) 400.000.000
Total liabilities Rp 621.000.000

Owner’s Equity
Jeremiah Halimah, Capital, August 31, 2015 Rp 910.000.000
Total liabilities and owner’s equity Rp1.531.000.000

4. BRIEFLY EXPLAIN
a. Multiple-step income statement contains several sections, subsections, and subtotal, like
revenue from sales, cost of merchandise sold, gross profit, income from operations, and
other income & expense.
Single-step only deducts the total of all expenses in one step from the total of all revenues.
b. Account-form presented with assets on the left-hand side and the liabilities & owner’s
equity on the right-hand side.
Report form presented with a downward sequence in three sections.