SEMINAR No. 7 Example 1 C. Dock. Accounting case CZK Dr Cr 1. IR Purchasing goods from a foreign supplier, 500 pcs at a unit price of 100 CZK per 1 pc. Internal accounting document Duty 5,000 BA Transport of goods 16,000 Warehouse receipt Goods transferred to stock (500 pcs) BA a) Payment of invoice for goods (Ex. 1) b) Payment of customs duties (Ex. 2) 5,000 IR Purchase of goods, 600 pcs at a unit price of 110 CZK per 1 pc. 7. INTERNAL ACCOUNTING DOCUMENT Transport of goods at your own expense 4,000 8. INTERNAL ACCOUNTING DOCUMENT Insurance of transport of goods according to a contract with an insurance company 2,000 9. Warehouse receipt Goods transferred to stock (600 pcs) 10. BA a) Payment of invoice for goods (Ex. 6) b) Payment of transport insurance (Ex. 8) 2,000 11. Warehouse issue Goods sold, 800 pcs issued: a) valuation at average price b) valuation using the FIFO method Example 2 C. Dock. Accounting case CZK Dr Cr The following costs were incurred in the production of the material (Ex. 1. - 3.) BA Purchased raw materials that were consumed immediately 132,000 IR Electricity consumption 53,000 INTERNAL ACCOUNTING DOCUMENT Gross wages of employees 95,000 INTERNAL ACCOUNTING DOCUMENT Purchase of material at your own expense (activation) INTERNAL ACCOUNTING DOCUMENT Intra-company material transportation 8,000 6. BA Payment of energy invoice (Ex. 2) 53,000 7. Warehouse receipt Material transferred to warehouse Example 3 C. Dock. Accounting case CZK Dr Cr 1. BA Deposit provided for purchase of goods 85,000 2. IR Purchasing goods from a foreign supplier 165,000 3. INTERNAL ACCOUNTING DOCUMENT Settlement of advance payment for goods 85,000 4. JSD Duty 16,000 5. INTERNAL ACCOUNTING DOCUMENT Transport of goods at your own expense 18,000 6. BA Payment of customs duties (Ex. 4) 16,000 7. INTERNAL ACCOUNTING DOCUMENT Insurance of transport of goods according to a contract with an insurance company 13,000 8. Warehouse receipt Transfer of goods to warehouse 9. BA a) Payment of the balance of the invoice for goods (Ex. 2) b) Payment of transport insurance (Ex. 7) 13,000 BA Deposit provided for purchase of materials 60,000 IR Material purchase 140,000 INTERNAL ACCOUNTING DOCUMENT Settlement of the provided advance payment for materials 60,000 CASH REGISTER - ISSUE Material transportation 5,000 Warehouse receipt Material transferred to warehouse 15. BA Payment of the balance of the invoice for materials (Ex. 2) Example 4 Record individual accounting transactions for inventory losses and inventory differences by journal entry and fill in the missing amounts. The accounting entity applies the accrual method of accounting (method A). C. Dock. Accounting case CZK Dr Cr 1. IR Material purchase 130,000 2. IR Purchase of goods 170,000 3. BA Payment of supplier invoices (ex. 1. + 2.) 4. CASH REGISTER - ISSUE Material transportation 6,000 5. Warehouse receipt Material transferred to warehouse 6. INTERNAL ACCOUNTING DOCUMENT Intra-company transport of goods 7,000 7. Warehouse receipt Goods transferred to warehouse 8. Warehouse issue Material consumption 45,000 9. Warehouse issue Decrease in goods sold 65,000 II Revenue from goods sold 78,000 Warehouse issue Sale of unnecessary material 12,000 CASH REGISTER - RECEIPT Revenue from material sold 10,000 BA Payment of invoice for goods sold (Ex. 10) 78,000 INTERNAL ACCOUNTING DOCUMENT Damage to goods due to fire 35,000 15. INTERNAL ACCOUNTING DOCUMENT Claim for compensation from the insurance company 35,000 16. BA Warehouse receipt compensation from insurance company 35,000 C. Dock. Accounting case CZK Dr Cr 17. INTERNAL ACCOUNTING DOCUMENT Inventory: a) natural loss of material (shortage to standard) b) culpable shortage of goods c) excess of other material 2,000 4,000 3,000 18. INTERNAL ACCOUNTING DOCUMENT Shortfall prescribed for reimbursement by employee 4,000 19. CASH REGISTER - RECEIPT The employee paid the shortfall 4,000 Example 5 C. Dock. Accounting case CZK Dr Cr 1. IR Purchase of goods 400,000 2. Warehouse receipt Warehouse receipt material into stock according to order 180,000 3. INTERNAL ACCOUNTING DOCUMENT Accounting for inventory at the end of the accounting period: a) the goods did not arrive at the warehouse b) the invoice for the purchased material has not been warehouse receiptd 400,000 180,000 Inventory settlement at the beginning of the next accounting period 1. IR Purchased material 185,000 2. INTERNAL ACCOUNTING DOCUMENT Settlement of the difference due to the increase in the price of the material 3. Warehouse receipt Goods warehouse receipt in stock 400,000 Example 6 C. Dock. Accounting case CZK Dr Cr 1. INTERNAL ACCOUNTING DOCUMENT Transfer of PS at the beginning of the accounting period: a) work in progress b) semi-finished products c) products 120,000 70,000 260,000 2. Warehouse receipt Work in progress addition 70,000 3. Warehouse issue Warehouse receipt Production of semi-finished products: a) decrease in work in progress b) addition of semi-finished products 60,000 85,000 4. Warehouse receipt Warehouse issue Production of finished products: a) loss of semi-finished products b) product increment 110,000 160,000 5. Warehouse issue Decrease in products sold 330,000 6. II Revenue from products sold 410,000 7. BA Payment of invoice for products (Ex. 6) 410,000 8. INTERNAL ACCOUNTING DOCUMENT Inventory of own activities: a) natural decrease in unfinished work b) surplus of semi-finished products c) culpable product shortage 1,000 4,000 7,000 9. INTERNAL ACCOUNTING DOCUMENT Shortfall prescribed for reimbursement by employee 7,000 10. INTERNAL ACCOUNTING DOCUMENT The employee covered the shortfall by deducting from his salary. 7,000