5 đối tượng nghiên cứu: assets, liabilities, capital, expense, income

Phương trình kế toán : A = L + OE(Contribution – Drawing + Income – Expense) (cùng dấu -> cùng công thức)

Asset tăng -> debit; L + OE credit

Asset giảm -> credit; L + OE debit

INVENTORY:

No. Transaction Debit Credit

1 Buy/Purchase NCA Non-Current Asset (NCA) Cash / Bank / Payables
2 Buy services Expense Cash / Bank / Payables
3 Sell goods/services Cash / Bank / Receivables Sales / Revenue
4 Take a loan Cash / Bank Loan
5 Owner contribution Bank / Cash / Asset Owner’s Equity / Contribution
6 Owner drawing Drawing Cash / Bank / Assets
7 Make payment Payables / Loan Cash / Bank
8 Receive money Cash / Bank Receivables

No. Transaction Debit Credit

1 Purchase goods Purchases Cash / Bank / Payables
2 Return goods to Cash / Bank / Trade Payables Purchase Returns (Returns
supplier Outward)
3 Customer returns Sales Returns (Returns Inward) Cash / Bank / Receivables
goods to us
4 Deliv inward Delivery inward Cash/Bank/Pay…

Raw Material -> Work in progress (WIP) -> Finish Good

Cost of Inventory:

- Cost of purchase
- Cost of conversion: direct costs and production overheads

Direct cost:

- Production overheads (fixed and variable)

- Allocation of fixed production overheads
- Other costs incurred in bringing the inventories to their preset location and condition

Cost of sales = opening inventory + purchases + delivery inward – closing inventory

Carriage inwards and outwards:

- Inwards: is added to the cost of purchases and is therefore oncluded in the calculation of cost of sales
and gross profit
- Outwards: is a distribution cost deducted from gross profit in the statement of profit or loss
TỔNG DR – TỔNG CR

Acccount Opening TB Adjusted TB Closing TB

DR1 CR2 DR3 CR4 DR5 CR6
Sales 71600 72328
Purchases 29050 583 0 29633
Salaries 4650 5060
Rent and business 2500 2500
rates
Prepay - Insurance 3900 0 900 3000
Motor expenses 4860 21860
Fixtures 35000 35000
Cash in hand 5000 4085
Cash at bank 3500 4150 0 7650
Drawings 24000 24000
Capital 61810 61810
Account Receivable 23450 328 20 23758
Account Payable 19500 18 78 19560
Contribution 0 750 750
Loan 0 3000 3000
Returned outward 0 18 18
Returned inward 20 0 20
Insurance expense 900 0 900 7547
Closing inventory 7547 0 7547
COS 7547 0 7547
152910 152910 13956 13956 165013 165013

INCOME STATEMENT
TRÌNH TỰ ĐỌC BÁO CÁO TÀI CHÍNH:
SALES – RETURNED INWARD
-> NET SALES – COGS/COS (opening investment + purchase + delivery inward – returned outward – closing inv)
-> GROSS PROFIT – EXPENSE/OTHER EXPENSE + OTHER REVENUE
-> NET PROFIT
72328 – 20 => 72308 - (0 + 29633 + 0 – 18 – 7547) => 50240 – (900 – 5060 – 2500 – 21860) => 19920
FINANCIAL POSITION
1. Asset: 81040
CA: 46040
Closing inventory: 7547
Repayment: 3000
Cash: 4085
Bank: 7650
Receivables: 23768
NCA: 3500
Fixtures: 3500
  TOTAL ASSET: 81040
1. Liability: 22560
CL: Payables: 19560
NCL: LOAN: 3000
2. OE/Capital: 58430
Profit: 19920
Drawing: - 24000
Capital: 61810
Contribution: 750

DEPRECIATION – STRAIGHT – LINE METHOD OF DEPRECIATION

Annual/Monthly depreception expense:

Journalize

Januar Transfers $750 of his savings into a business bank account (debit: 1. Complete the
y bank +, credit: contribution) columns to show the
effects of the
Borrows $3,000 from LLoydwest Bank, repayable in three years’ time following
(dr: cash +, cr: loan) transactions:
Buys goods for resale on time, $78 from S.Holmes (dr: purchase +, cr:
payables)
Buys goods for resale, paying cash $55 (dr: purchase +, cr: cash - )
Goods returned by us to S.Holmes, $18 (dr: trade payables, cr: return
outward)
Sale goods $630, customer paying by cheque $400 (dr: bank, trade
receivables, cr: sales)
Sale goods on time, $98 to D.Moore (dr: receivables, cr: revenue)
Goods returned to us by D.Moore $20 (dr: return inward, cr: trade
receivables)
Pays staff wages for January, $410 cash (dr: wage expense , cr: cash)
Purchases goods from C.Swiff $500, less 10% trade discount, pays by
cash (dr: purchase, cr: cash)
Insurance is still unexpired of $3,000 (dr: insurance expense, cr:
prepay – insurance)
Inventory on 31 January 20X9 is 7,547 (dr: closing investment, cr:
COS
Effect upon
Assets Liabilities Capital
a. We pay creditor $310 by cheque (debit: payables, credit: - cash - payables
bank)
b. Bought fixtures $175 paying in cash (debit: fixture, credit: - cash
cash)
c. Bought goods on time $630 (debit: fixture, credit: payables) + + payables
 inventory
d. The proprietor introduces another $1.200 cash into the + +
business (debit: cash, credit: contribution)
e. J. Walker lends the business $2.500 in cash (debit: cash,
credit: loan)
f. A debtor pays us $50 in cash (debit: cash, credit: receivables) + cash
g. We return goods costing $90 to a supplier whose bill we had - -
not paid (debit: inventory, credit: payables)
h. Bought an office computer paying $610 by cheque (debit: - cash
computer, credit: bank)

2. Complete the columns to show the effects of the following transactions:

Effect upon
Assets Liabilities Capital
a. Bought a van on time $8.700 (debit: inventory, credit: + van + payables X
payables)
b. Repaid by cash a loan owned to F.Duff $10.000 (debit: loan, - cash - loan X
credit: cash)
c. Bought goods for $1.400 paying by cheque (debit: purchase, + goods X x
credit; bank) -cash
d. The owner puts a further $4.000 cash into the business + cash X +
(debit: cash, credit: contribution) contribution
e. A debtor returns to us goods worth $150. We agree to make + goods x x
an allowance for them. (debit: sales, credit: receivables)
f. Bought goods on time $760 (debit: inventory, credit: + goods + payables X
payables)
g. The owner takes out $200 cash for his personal use. (debit: + cash x + drawings
drawing, credit: cash)
h. We pay creditor $1.150 by cheque (debit: payables, credit: - cash - payables x
bank)

3.Complete the following table:

Account to Account to
be debit be credit
(nợ) (có)
1. Bought laptop computer on time from Timeless Ltd. + payables + inventory
2. The proprietor paid a creditor, B. Burt, from his private funds. x -cash
+ payables
3. A debtor, T.Robb, paid us by cheque. + + bank
recievables
4. Repaid part of loan from I.Simms in cash. -cash
5. Returned the computer to Timeless Ltd. - payables -inventory
6. A debtor, P.Bell, paus us by cheque
7. Bought van on time from Tangle Motors. + payables + inventory
4.Complete the following table:

Account to Account to
be debit be credit
a) Bought trailer for cash Trailer – Cash – asset
asset
b) Paid creditor, J.Tough, by cheque Creditor - J Bank – asset
c) Repaid W.Small;s loan by cash Liability - W Cash – asset
d) Sold trailer for cash Cash – asset Trailer –
asset
e) Bought office equipment on time from Dexter Ltd. It will be paid Liability Purchase
later
f) A debtor, T.Walls, pays us by cash. Cash Debtors
g) A debtor, L.Tait, pays us by cheque Bank Debtors
h) Proprietor puts a further amount into the business by cheque Bank Capital
i) A loan of $650 in cash is received from F.Burns. Cash Loan
j) Paid a creditor, J.Fife, by cash. Creditor Cash

5. Write up the asset, liability and capital accounts to record the following transactions in the records of
B.Spector’s business:

July 1 Started business by putting $15.000 of his own money into a business bank account
2 Bought office furniture by Internet transfer from bank account $2.800
3 Bought computer equipment $1.260 on time from TVC Ltd
5 Bought a car paying by cheque $4.950
8 Sold some of the office furniture – original cost $750 – for $750 on time to Jevons Co
15 Paid the amount owing to TVC Ltd $1.260 by Internet transfer from bank account
23 Received the amount due from Jevons Co $750 by cheque
31 Bough machinery using the business’s debit card $710

6. Write up the asset, liability and capital accounts to record the following transactions for June in the records of
P.Bernard:

June 1 Started business with $17.500 in cash

2 Paid $9.400 of opening cash into a bank account for the business
5 Bought office furniture on time from Dream Ltd for $2.100
8 Bought a van paying by Internet transfer from the bank account $5.250
12 Bought equipment from Pearce & Son on time $2.300
18 Returned faulty office furniture costing $260 to Dream Ltd.
25 Sold some of the equipment for $200 cash (its original cost)
26 Paid amount owing to Dream Ltd $1.840 by Internet transfer from the bank account
28 Took $130 out of the bank and added to cash
30 F.Brown lent us $4.000 – sending us the money by Internet transfer.
7. Write up the asset, liability and capital accounts in the books of D.Gough to record the following transactions:

June 1 Stated bisomess wotj $16.000 in the bank

2 Bought van paying by cheque $6.400.
5 Bought office fixtures $900 on time from Old Ltd
8 Bought van on time from Carton Cards Ltd $7.100
12 Took $180 out of the bank and put it into the cash till.
15 Bought office fixtures paying by cash $120
19 Paid Carton Cars Ltd by Internet transfer from the bank account
21 A loan of $500 cash is received from B.Berry
25 Paid $400 of the cash in hand into the bank account
30 Bought more office fixtures paying with the business debit card $480

8. Write up the accounts to record the following transactions:

May 1 Started business with $1.500 cash and $18.000 in bank (debit: cash, credit: bank)
2 Received a loan of $4.000 from T.Fox by cheque (debit: bank, credit: loan)
3 Bought a computer for cash $1.200 (debit: purchases, credit: cash)
5 Bought display stands on time from Drop Ltd $840 (debit: purchases, credit: payables)
8 Took $400 out of the bank and put it in the cash till. (debit: cash, debit: bank)
15 Repaid part of Fox’s Loan using the business debit card $1.000 (debit: loan, credit:
bank)
17 Paid amount owing to Drop Ltd $840 by Internet transfer from the bank account
(debit: payables, credit: bank)
24 Repaid part of Fox’s loan by cash $500 (debit: loan, credit: cash)
31 Bought a colour laser printer on time from P.Blake for $400. (debit: printer, credit:
payables)

Inventory

1.Complete the following table:

Account to Account to
be debit be credit
a. Goods sold for cash Cash Sales
b. Vehicles bought on time from F. Smith Purchases Creditors
c. Computer sold for cash Cash Sales
d. Goods sold on time to J. Lilly Debtors Sales
e. Goods purchased by us returned to supplier, M. Peel Creditors Purchases
f. Goods bought on time from F.Day Purchases Creditors
g. Goods sold, a cheque being received immediately Bank Purchases
h. Gods we returned to W. Brown Creditors Purchases
i. Goods sold returned to us by customer, I. Gray Sales Debtors
j. Goods bought on time from T. Gow Purchases Creditors

2.Complete the following table:

 Account to Account to
be debit be credit
a. Goods bought on time from B. Cowan Purchases Creditor – B
b. Goods returned to us by L. Keith Purchases Debtors - L
c. Filing cabinets returned to C. Riddle Ltd. Creditors – Equipment
C
d. Goods bought for cash Purchases Cash
e. Lorry bought on time from M. Davis Ltd Purchases Creditor
f. Goods returned by us to J. Hicks. Creditors Purchases
g. N. Peters paid us his account by cheque Bank Debtors
h. Goods bought by cheque Purchases Bank
i. We paid creditor, F.Toms, by cheque. Creditors Bank
j. Good sold on time to S. Mulligan Debtors Sales

3. You are to write up the following in the books:

July 1 Started in business with $3.800 cash.

3 Bought goods for cash $480.
7 Bought goods on time $1.200 from J.Gill
10 Sold goods for cash $172
14 Returned goods to J.Gill $240
18 Bought goods on time $1.460 from F.Genesis
21 Returned goods to F.Genesis $104
24 Sold goods to A. Prince $292 on time
25 Paid J.Gill’s account by cash $960
31 A. Prince paid us his account in cash $292

1; 6; 5; 6; 4: 5 điểm

1; 6: 2 điểm

4. Enter the following transactions in the appropriate accounts:

Aug 1 Started in business with $7.400 cash. debit: cash (7400), credit: contribution (7400)
2 Paid $7.000 of the opening cash into the bank dr: bank (7000) ,cr: cash (7000)
4 Bought goods on time $410 from J.Watson dr: purchase(410), cr: payables (410)
5 Bought a van by cheque $4.920 dr: van, cr: bank(4920)
7 Bought goods for cash $362 dr: nca, cr: cash(362)
10 Sold goods on time $218 to L.Less dr: receivable(218), cr: revenue
12 Returned goods to J.Watson $42 dr: trade payables cr: return outward
19 Sold goods for cash $54 db: cash (54) cr: sales
22 Bought fixtures on time from Firelighters Ltd $820 dr: fixtures, cr: payable (820)
24 F.Holmes lent us $1.500 paying us the money by cheque dr: bank(1500), cr:
29 We Paid J.Watson his account by cheque $368dr: trade payables cr: bank
31 We paid Firelighters Ltd by cheque $820 dr: payables cr: bank
5. Enter the following transactions in the accounts of L.Linda:

July 1 Started in business with $20.000 in the bank

2 D.Rupert lent us $5.000 in cash
3 Bought goods on time from B.Brown $1.530 and I.Jess $4.162
4 Sold goods for cash $1.910
6 Took $200 of the cash and paid it into the bank
8 Sold goods on time to H.Rise $1.530
10 Sold goods on time to P.Taylor $341
11 Bought goods on time From B.Brown $560.
12 H.Rise returned goods to us $65
14 Sold goods on time to G.Far, $535 and R.Sim $363
15 We returned goods to B.Brown by cheque $94
17 Bought van on time from Aberdeen Cards Ltd $9.100
18 Bought office furniture on time from J.Winter Ltd $1.800
19 We returned goods to I.Jess $130
20 Bought goods for cash $770
24 Goods sold for cash $110
25 Paid money owing to B.Brown by cheque $1.924
26 Goods returned to us by G.Farm $34
27 Returned some of office furniture costing $180 to J.Winter Ltd
28 L.Linda put a further $2.500 into the business in the form of cash
29 Paid Aberdeen Cars Ltd $9.100 by cheque
31 Bought office furniture for cash $365

C4: Revenue and Expense

1. Write up the following transaction in the books for the month ended August:

August 1 Started in business with $3.100 in the bank and $4.000 in cash
2 Purchased goods $1.160 on time from A.Cliff
3 Bought fixtures and fittings $4.600 paying by cheque
5 Sold goods for cash $600
6 Bought goods on time $1.300 from S.Bell
10 Paid rent by cash $600
12 Bought stationery $180, paying in cash
18 Goods returned to A.Cliff $164
21 Received rent of $480 by cheque for sublet of corner space
23 Sold goods on time to R.Coat for $3.200
24 Bought a van paying by cheque $16.400
30 Paid the month’s wages by cash $1.220

Date Transaction Debit Credit

Aug 1 Started business with capital Bank $3,100 Capital $7,100
Cash $4,000
Aug 2 Purchased goods on credit from A. Purchases $1,160 A. Cliff (Payable) $1,160
 Cliff
Aug 3 Bought fixtures and fittings by Fixtures & Fittings $4,600 Bank $4,600
cheque
Aug 5 Sold goods for cash Cash $600 Sales Revenue $600
Aug 6 Bought goods on credit from S. Bell Purchases $1,300 S. Bell (Payable) $1,300
Aug 10 Paid rent in cash Rent Expense $600 Cash $600
Aug 12 Bought stationery in cash Stationery (Expense) Cash $180
$180
Aug 18 Returned goods to A. Cliff A. Cliff (Payable) $164 Purchase Returns $164
Aug 21 Received rent by cheque (sublet) Bank $480 Rent Income $480
Aug 23 Sold goods on credit to R. Coat R. Coat (Receivable) Sales Revenue $3,200
$3,200
Aug 24 Bought a van by cheque Motor Vehicle $16,400 Bank $16,400
Aug 30 Paid wages in cash Wages Expense $1,220 Cash $1,220

2. Write up the following transactions in the books of J.Dunn:

May 1 Started in business with cash $30.000

2 Bought goods on time from T.Lamb $700
3 Paid rent by cash $1.740
4 Paid $25.000 of the cash of the business into a business bank account
5 Sold goods on time to R.Still $384
7 Bought stationery $170 paying by cheque
11 Cash sales $624
14 Goods returned by us to T.Lamb $80
17 Sold goods on time to R.Davis $424
20 Paid for repairs to the building by cash $156
22 R.Still returned goods to us $62
27 Paid T.Lamb by cheque $7.000
28 Cash purchases $940
29 Bought a van paying by cheque $7.000
30 Paid motor expenses in cash $432
31 Bought a computer $1.460 on time from S.Tims

3. Recording the following transactions:

July 1 Started in business with $5.000 in the bank and $1.000 cash
2 Bought stationery by cheque $75
3 Bought goods on time from T.Smart $2.100
4 Sold goods for cash $340
5 Paid insurance by cash $290
7 Bought a computer on time from J.Hott $700
8 Paid electricity by cheque $32
10 Sold goods on time to C.Biggins $630
11 Returned goods to T.Smart $550
14 Paid wages by cash $210
17 Paid rent by cheque $225
20 Received cheque $400 from C.Biggins
21 Paid J.Hott by cheque $700
23 Bought stationery on time from News Ltd $125
25 Sold goods on time to F.Tank $645
31 Paid News Ltd by cheque $125