Summary Ch5 Accounting for merchandising - Financial Accounting with International Financial Reporting Standards - FAC2
12 views 0 purchase
Course
FAC2 (FAC2)
Institution
Hanzehogeschool Groningen (Hanze)
Book
Financial Accounting with International Financial Reporting Standards
Provides in-depth summary of chapter 5. including, Merchandising Operations and Inventory Systems, Recording Purchases Under a Perpetual System, Recording Sales Under a Perpetual System, Accounting Cycle for a Merchandising Company, Financial Statements for a Merchandiser, Periodic Inventory System.
Accounting Categories (Debit and Credit Balances) - Financial Accounting (FAC)
All for this textbook (33)
Written for
Hanzehogeschool Groningen (Hanze)
International Business and Management Studies
FAC2 (FAC2)
All documents for this subject (13)
Seller
Follow
amy5430
Reviews received
Content preview
Accounting for Merchandise
Operations
Chapter Number Chapter 5
Accounting for Merchandise Operations 1
, 📖 Table of Contents
Outline
5.1 Merchandising Operations and Inventory Systems
Operating Cycles
Flow of Costs
Perpetual Inventory System
Periodic Inventory System
5.2 Recording Purchases Under a Perpetual System
Freight Costs
Freight Costs Incurred by the Buyer
Freight Costs Incurred by the Seller
Purchase Returns and Allowances
Purchase Discounts
Summary of Purchasing Transactions
5.3 Recording Sales Under a Perpetual System
Sales Returns and Allowances
Sales Discounts
5.4 The Accounting Cycle for a Merchandising Company
Adjusting Entries
5.5 Financial Statements for a Merchandiser
Income statement
Comprehensive Income
Classified Statement of Financial Position
5.6 Periodic Inventory System
Determining Cost of Goods Sold
Recording Merchandise Transactions
Recording Purchases of Merchandise
Freight Costs
Purchase Returns and Allowances
Purchase Discounts
Recording Sales of Merchandise
Sales Returns and Allowances
Sales Discounts
Journalizing and Posting Closing Entries
Closing Entries - Income Summary
Perpetual System
Periodic System
Accounting for Merchandise Operations 2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller amy5430. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.96. You're not tied to anything after your purchase.
