Chap 6:

1. Account Receivable/Cash $2,100 selling price

Sale Revenue

2. Sales Return and Allowances

A/R

3. Cash 9,800,000
Sales Discount 200,000
A/R 10,000,000

FiFo: first in first out

Average cost

LiFo: Last in First out

Ending inventory = Ending units x unit cost

COGS= Cost available for sales – ending inventory

Capital – D + S - E

Cost of good available for sale= unit cost x total available units for sales

Ending unit = Beginning + Purchase – Sold

Sales- COGS = net income

 Begining 2,000 @7 $14,000

3/10 purchased 2,500 @8 $20,000

9/10 purchased 3,500 @9 $31,500

19/10 purchased 3,000 @10 $30,000

25/10 purchased 4,000 @11 $44,000

Sold 10,900

Cost of good available for sale= 139,500

1) FIFO

Ending unit = 15,000 – 10,900= 4,100 units

+ ENDING INVENTORY = 4,000 x @11 + 100 x@10= $45,000

+ COGS= 139,500 – 45,000 = $94,500

2) Average cost

Cost of good available for sale= unit cost x total available units for sales

 Unit cost = Cost of good available for sale / Total available units for sales.

= 139,500 / 15,000= $9.3

Ending unit = 15,000 – 10,900= 4,100 units

+ Ending inventory = 4,100 x 9.3= $38,130

+ COGS = 139,500 – 38,130 = $ 101,370

 Net income = Sales – Expense

Chap 9
1) Direct write off method

Bad Debt Expense

A/R

2) Estimate Uncollective method

Bad Debt Expense

Allowance for doubtful ( contra account A/R)

2.1) Honor

Cash

A/R

2.2) dishonor

Allowance for Doubtful

A/R

2.3) Recovery Bad Debt

A/R

Allowance for Doubtful

Cash

A/R

Adjusting Entry:

1) Estimate based on Sales

(Adjusting = Net sale x percentage)

(Net sale= Salés – Sales Discount – Sales Allơưance and Return)

Bad debt expense

Allowance for Doubtful

2) Estimate based on A/R

(Target = A/R x percentage)

Bad Debt expense

Allowance for Doubtful

2.1) Allowance for doubful has debit balance

Bad Debt expense

Allowance for Doubtful

( Target + debit balance)

2.2) Allowance for doubtful has credit balance

Bad Debt expense

Allowance for Doubtful

(Target – credit balance )

a) Bad Debt Expense 2,900

A/R 2,900

b) (1) Net sale = 1,740,000

Bad debt expense 17,400
Allowance for Doubtful 17,400
(2) Bad debt expense 13,700
Allowance for Doubtful 13,700
(180,000x10% - 4,300=13,700

Lend day: 1/11/2023 10%/year

Note receivable 200,000,000

Cash 200,000,000

Maturity date: 31/12/2023

Interest Receivable
 Interest Revenue

(200,000,000 x 10 % x 2/12)

( principals x rate x n/12 or n /360 )

Cash

Note receivable

Interest Receivable

Exceed maturity date

Cash

Note receivable

Interest Receivable

Interest revenue ( principals x rate x n/12 or n /360)

1/11/2017 31/11/2017

6months => 1/5/2018

a) Nov 1.
Note receivable 20,000
Cash 20,000
Dec. 11
Note receivable 9,000
Sales 9,000
Dec.16
Note Receivable 8,000
A/R 8,000
Dec 31.

Interest Receivable

Interest Revenue

20,000 x 12% x 2/12=

Interest Receivable

Interest Revenue

9,000 x 8% x 20/90=

Interest Receivable

Interest Revenue

8,000 x 9% x 0.5/6=
b)
c) Cash 22,400
Note receivable 20,000
Interest Receivable 400
Interest revenue ( principals x rate x n/12 or n /360) 2000

(20,000 x 12%x10/12= 2000)

Chap 10:

Cost of assets: Ready to use (chi phí cần để equipment sẵn sàng sài đc)

Giá mình mua, giá lắp đặt, bảo hành => những cost cần để tài sản đó có thể sẵn sàng để
sdung

- Depreciation

Equipment

Building
 Land Improvement

• Note: Land has no depreciation

I). Các phương pháp tính khấu hao

1. Straight-line method: Khấu hao theo từng năm, dựa vào giá trị tài sản
• Depreciation cost = Cost of assets – Salvage value
• Depreciation rate = 1/ Useful life
• Annual Depreciation Expense = Depreciation cost / Useful life
• Book value = Cost of asset – Accumulated Depreciation

( Book value = Salvage value = Residual value: is an estimate of the asset’s value at the end
of its useful life.)

Cách trình bày:

 2. Units of activities: Khấu hao dựa trên units
• Depreciation cost per unit = Depreciation cost / Total Units
• Depreciation Expense = Depreciation per unit x Units of act
• Book value = Cost of asset – A.D

Cách trình bày:

 3. Double declining balance method
• Depreciation expense = Begining Book value x depreciation rate
• Depreciation rate = 2/ useful life

Note: Điều chỉnh Drepreciation expense theo book value ở năm cuối ( Ko tính đáp số
depreciation expense năm cuối như bình thường nữa).

Book value ở năm cuối = Begining book value – Salvage value

 A.D ở năm cuối = Begining book value – Salvage value

 Drepreciation expense ở năm cuối (T) = A.D ở năm cuối (T) – A.D ở năm (T-1)

Cách trình bày:

Cost of asset= 34,000

Salvage value = 2,000

Total units= 100,000

N=8

• Depreciation cost = Cost of assets – Salvage value =

• Depreciation rate = 1/ Useful life
• Annual Depreciation Expense = Depreciation cost / Useful life
• Book value = Cost of asset – Accumulated Depreciation

( Book value = Salvage value = Residual value: is an estimate of the asset’s value at the end
of its useful life.)
 a) Straightline method

Depreciation cost= 32,000

Depreciation rate= 1/8

2020 32000x1/8= 4000. A.D 4000 BV30,000

2021 32000x1/8= 4000 A.D 8,000 BV24,000

b) Units of acts

Depreciation cost per unit= 32000/100000=0.32

2020 15,000 x 0.32= 4800 A.D 4,800 BV 29,200

2021 12,000x0.32=3840 A.D 8,640 BV 25,360

c) Double declining method

Depreciation rate = ¼

2020 34,000x1/4=8500 A.D 8,500 BV 25,500

2021 25,500x1/4=6375 A.D.14,875 BV 19,125

2022 19,125x2/3= 17,125 A.D 32,000 BV 2,000

12,750

Net income= Sale – Expense

II). Methods of plant asset disposal

1. Sale price < Book value => Loss

Cash

Accumulated Depreciation—Equipment
Loss on Disposal of Plant Assets
Equipment

2. Sale price > Book value => Gain

Cash
Accumulated Depreciation—Equipment
Equipment
Gain on Disposal of Plant Assets

Ví dụ: Tháng 9, 2023 mua tủ lạnh với giá 5.000.000, HSD 5 năm, khấu hao 20% mỗi năm,
Tháng 9,2025 muốn bán.
n=2years
Depreciation expense= 5.000.000x1/5= 1.000.000
A.D 2.000.000
Book value = 3.000.000

a) Sale price 2.000.000

Cash 2.000.000
A.D 2.000.000
Loss on Disposal of Plant Assets 1.000.000
Equipment 5.000.000
 b) Sale price 4.400.000
Cash 4.400.000
A.D 2.000.000
Equipment 5.000.000
Gain on Disposal of Plant Assets 1.400.000
E10-10
Pryce Company owns equipment that cost $65,000 when purchased on January 1,
2014. It has been depreciated using the straight-line method based on estimated salvage
value of $5,000 and an estimated useful life of 5 years.
Instructions
Prepare Pryce Company’s journal entries to record the sale of the equipment in these four
independent situations.
Cost of assets = 65,000
Salvage value= 5,000
Rate=20%
Depreciation expense= 65000-5000/5= 12,000 =>
(a) Sold for $31,000 on January 1, 2017.
A.D 12,000x3= 36,000
Book value = 29,000
Cash 31,000
Accumulated Depreciation—Equipment 36,000
Equipment 65,000
Gain on Disposal of Plant Assets 2,000

(b) Sold for $31,000 on May 1, 2017.

3y4m A.D= 36.000 + 12000x4/12= 40.000
Book value= 25,000
Cash 31,000
Accumulated Depreciation—Equipment 40,000
Equipment 65000
Gain on Disposal of Plant Assets 6,000
 (c) Sold for $11,000 on January 1, 2017.
A.D 12,000x3= 36,000
Book value = 29,000
Cash 11,000

Accumulated Depreciation—Equipment 36,000

Loss on Disposal of Plant Assets 18,000
Equipment 65000

(d) Sold for $11,000 on October 1, 2017.

Chap11: Current Liabilities and Payroll Accounting

Borrow day:

Cash

Account /Note Payable

Account Payable

Note payable

Adjusting: principlesx ratex n/2

Interest expense.

Interest payable
Maturity date:

Note payable 10.000.000

Interest payable 50.000

Interest expense (principalsxratex(x-n)/12 or 360)

Cash

Lend:

Note receivable

Cash

Maturity

Interest receivable

Interest revenue

Maturity:

Cash

Note receivable

Interest receivable

Interest Revenue

• Sales Taxes Payable ( VAT)

Cash 11.000.000

Sale revenue 10.000.000

Sale tax payable 10% 1.000.000

Sales=> Cash = (100%+Rate%)xsales

Chap 18

• Net sales= Sales – Sales discount – Sale return

• Common stock equity = common stock + Retain earnings
• Common share outstanding = common stock / par value
• Average = Begin+ End/2
• Net= Account – Contra
• Net AR=AR- Allowance for doubtful
 • Currents assets: Tài sản ngắn hạn

+ cash

+ AR

+ inventory

+supplies

+ Prepaid

+Short-term investment