Matakuliah
Tahun
Versi
: J0254/Akuntansi Dasar
: 2005
: 01/00
Pertemuan 24
Kewajiban Jangka Pendek
1
Learning Outcomes
Pada akhir pertemuan ini, diharapkan mahasiswa
akan mampu :
• Memahami Akuntansi Kewajiban Jangka
Pendek
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Outline Materi
• Pengertian Kewajiban Jangka Pendek
• Hutang Dagang
• Wesel Bayar
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Hutang Dagang...
– Adalah sejumlah uang yang terhutang
pada pemasok/vendor atas barang atau
jasa yang dibeli secara kredit.
• Hutang Dagang tidak membebankan
bunga bagi debitur.
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Hutang Dagang - Contoh
• Misalkan pada 3 Juni 3, Binus’s Sporting
Store membeli barang daganngan senilai
$1,000 dengan kredit dagang dari Patti
Wholesaler.
• Jurnal Pencatatan?
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Persediaan
1,000
Hutang Dagang 1,000
Membeli secara kredit
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Wesel Bayar Jangka Pendek...
– Adalah janji tertulis untuk membayar
(promissory notes) yang akan jatuh tempo
dalam 1 tahun.
• Tentu saja selain pokok hutang, masih ada
kewajiban membayar bunga.
• Bila terdapat akrual atas bunga hutang,
maka hal tsb harus dicatat.
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Wesel Bayar Jangka Pendek...
• Pada 30 April, Binus membeli
persediaan senilai $10,000 dengan
menerbitkan wesel bayar 90 hari, bunga
10%.
• Persediaan
Jurnal?
10,000
Wesel Bayar
10,000
Pembelian secara kredit dengan wesel bayar
90/10%
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Wesel Bayar Jangka Pendek...
•
•
•
•
Periode akuntansi berikutnya 31Mei.
Hitung akrual bunga per 31 Mei?
$10,000 × 10% × 31/360 = $86.11
Bagaimana jurnal pd saat jatuh tempo?
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Wesel Bayar Jangka Pendek...
29 Juli
Wesel Bayar
Hutang Bunga
Biaya Bunga
Kas
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10,000.00
86.11
163.89
10,250.00
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Short-Term Notes Payable
Issued at a Discount
• Issuing a note at a discount means the bank
subtracts the interest from the note’s face value.
• Suppose that on February 25, Shanitha
discounts a $10,000, 90-day note, payable to
the bank at 12%.
• The business will receive $9,700.
• $10,000 × 0.12 × 90/360 = $300
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Short-Term Notes Payable
Issued at a Discount
February 25
Cash
9,700
Discount on Note Payable
300
Notes Payable, Short-Term
Discount a $10,000, 90-day,
10% note payable to borrow cash
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10,000
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Short-Term Notes Payable
Issued at a Discount
Shanitha Balance Sheet
Current liabilities:
Note payable, short-term
$10,000
Less: Discount on note payable
300
Note payable, short-term, net
$ 9,700
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Short-Term Notes Payable
Issued at a Discount
• What is the accrued interest at the end of
the month?
• $10,000 × 12% × 3/360 = $10
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February 28
Interest Expense
10
Discount on Note Payable 10
Accrue interest expense at month end
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Sales Tax Payable Example
• Most states levy a sales tax on retail sales.
• Suppose that a store sold $3,000 worth of
merchandise on a given Saturday.
• The business collected an additional 5%
in sales tax.
• How much is the sales tax liability?
• $150
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Accrued Expenses
(Liabilities)...
– are expenses that have been incurred but
not recorded.
– salaries
– taxes withheld
– interest
– utilities
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Payroll Liabilities
Salary Expense
10,000
Employee Income Tax Payable
1,200
FICA Tax Payable
800
Employee Union Dues Payable
140
Salary Payable
7,860
To record salary expense
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Unearned Revenue Example
• Assume that on June 1, Dennis’s
Landscaping collected $1,500 for
services to be provided during the months
of June, July, and August.
June 1
Cash
1,500
Unearned Revenue
1,500
Received cash in advance
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Unearned Revenue Example
• What entry does Dennis record on June
30?
June 30
Unearned Revenue
500
Service Revenue
500
Earned service revenue that was collected
in advance
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Estimated Warranty Payable
• The matching principle demands that the
company record the warranty expense in
the same period that the business
recognizes sales revenue.
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Estimated Warranty Payable
Example
• Patti Wholesaler made sales of
$1,000,000 subject to product warranties.
• In the past years, claims have averaged
2%.
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Warranty Expense
20,000
Estimated Warranty Payable 20,000
To accrue warranty expense
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Estimated Warranty Payable
Example
• On January 28, a customer returned a
defective product and was given a $300
refund.
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Estimated Warranty Payable 300
Cash
300
To record refund under warranty
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Estimated Vacation Pay
Liability Example
• Suppose Binus’s Sporting Store has a
March payroll of $10,000 and vacation pay
adds 4% (2 weeks of annual vacation
divided by 50 workweeks each year).
• How much vacation pay should be
accrued?
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Estimated Vacation Pay
Liability Example
March 31
Vacation Pay Expense
400
Estimated Vacation Pay Liability
To accrue vacation expense
400
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Contingent Liability
• Report a contingent liability in the notes to
the financial statement if it is reasonably
possible that a loss or expense will occur.
• The FASB says to record an actual liability
if it is probable that the business has
suffered a loss and its amount can be
reasonably estimated.
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Contingent vs. Current
Liability
• Suppose a hospital has lost a court case
for uninsured malpractice.
• The hospital estimates that the liability will
fall between $1.5 and $2.5 million.
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Contingent vs. Current
Liability
• The hospital must record a loss and a
liability of $1.5 million.
• The hospital must disclose in a note the
possibility of an additional $1.0 million
loss.
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Payroll
• Straight time is the base rate paid to
employees for a set number of hours.
• Overtime is additional time worked by
employees for which they received a
higher rate (usually 1.5 times the straight
time rate).
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Gross Pay and Net Pay
Gross Pay
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Deductions
Net Pay
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Internal Control over Payrolls
– controls for efficiency
– controls for safeguarding payroll
disbursements
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Controls for Efficiency
– making payroll disbursements from one payroll
account in one month and from another the next
– following established policies for hiring and
firing employees
– complying with government regulations
– testing employees for their interest in the job and
their skills to perform the job
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Controls for Safeguarding
Payroll Disbursements
• Large organizations must establish
controls to ensure that payroll
disbursements are made only to legitimate
employees.
• Duties of hiring and firing should be
separated from the duties of accounting
for payroll and distributing paychecks.
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Controls for Safeguarding
Payroll Disbursements
• Requiring an identification badge bearing
an employee’s photograph also helps
internal control.
• A formal time-keeping system helps
ensure that employees have actually
worked.
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Report Current Liabilities
• Companies report current liabilities on the
balance sheet.
– current liabilities of known amount (payroll)
– current liabilities that must be estimated
(warranties)
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Report Current Liabilities
• At the end of the year, companies report
the amount of payroll liabilities owed to
all parties.
• The liability at year end is the amount of
the payroll expense that is still unpaid.
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Liabilities Known
When Recorded
– accounts payable
– short-term notes payable
– sales tax payable
– current portion of long-term debt
– accrued expenses payable
– unearned revenues
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Liabilities Estimated
When Recorded
– warranty payable
– income tax payable
– vacation pay liability
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