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Chapter 8

Chapter 8. Accounting for Merchandising Operations in Hospitality. 8-1 Merchandise Purchase Entries for a Merchandiser (Perpetual System). 8-2 Revenue Entries for a Merchandiser. 8-3 Work Sheet for a Merchandiser. Procedure:

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Chapter 8

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  1. Chapter 8 Accounting for Merchandising Operations in Hospitality

  2. 8-1 Merchandise Purchase Entries for a Merchandiser (Perpetual System)

  3. 8-2 Revenue Entries for a Merchandiser

  4. 8-3 Work Sheet for a Merchandiser • Procedure: • Merchandise Inventory is extended to the debit column of the balance sheet. • Sales is extended to the credit column of the income statement. • Sales Returns & Allowances and Sales Discounts are extended to the debit column of the income statement. • Cost of Goods Sold is extended to the debit column of the income statement.

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