Accounting Case Studies: Transactions and Financial Operations

Accounting Case Studies: Transactions and Financial Records

Case 1: Service Distribution and Tax Detraction

The company, SRL Farmer, received services from Coria company, which will distribute the propaganda that SRL Farmer sent to print. For this distribution service, Coria issued invoice number 001-143 for the amount of 2100 + Sales Tax. This was paid by check (non-negotiable), with the respective detraction (12%) deposited in the provider's bank account at Banco de la Nación. ITF (Financial Transaction Tax) = 0.06%.

Calculations (for illustrative purposes, some original calculations were unclear and are presented here conceptually):

• Total invoice amount: 2100 + Sales Tax
• Detraction (12%): Calculated on the total invoice amount.
• ITF: 0.06% of the relevant transaction amounts.

Case 2: Merchandise Sales and Returns

On February 5, 2010, Trunks S.A. sold perishable merchandise to foreign clients for a total amount of 78,500. On February 28, the foreign customer returned merchandise that arrived marred for an amount of 10,200. This merchandise was entered back into the company's inventory, based on the remission guide. The cost of the sale of the returned merchandise was 3,650.

Accounting entries (simplified for clarity):

• Initial Sale
• Sales Return
• Inventory Adjustment

Case 3: Detraction from Sugar Sale

Record the detraction from the sale of sugar from a supplier:

• Sales Value: 12,600
• IGV (General Sales Tax): 2,394
• Sales Price with detraction: 14,994
• Detraction Percentage: 10%
• Amount to Detract: 1,499.40 (10% of 14,994)

The transfer takes place on May 25. The cancellation will be held on May 29. The deducted amount shall be deposited into the provider's account at the enabled bank, Banco de la Nación.

Case 4: Purchase of Cloth (Account 40)

On December 10, Tarem S.A.C. made a purchase of 400 meters of cloth at a unit value of 1,500 per meter (including IGV), according to invoice 004-225. Record the operation.

Accounting entries (simplified):

• Purchase of cloth
• Inventory entry

Case 5: Advance to Parent Company (Account 43)

The Milky Company was designated as a parent company for future purchases of merchandise. The delivery of goods takes place in the current month, with a total value of 180,000 + IGV.

Accounting entries (simplified):

• Initial advance
• Merchandise reception
• Imputation

Case 6: Dividend Distribution (Account 44)

Distrib Flash company agreed to distribute dividends for an amount of 100,000 to its shareholders. This requirement was won on June 16 of the same year.

Accounting entries (simplified):

• Dividend declaration
• Cancellation to shareholders

Case 7: Lease Payment (Account 45)

How should the bill be received for the amount of 15,800 (including VAT) for the first installment of a lease simulator?

Accounting entry (simplified):

• Payment of lease installment.

Financing expense will be recognized.

Case 8: Machinery Purchase (Account 33)

The company purchases machinery for the manufacture of sausages. The cost of the machinery is 18,880, which includes IGV. A cash discount for prompt payment is received, including IGV of 944. In addition, costs incurred for transportation amount to 236, both including IGV. Perform the respective accounting seat.

Accounting entries (simplified):

• Machinery purchase
• Discount registration
• Payment