对外经贸会计专业相关资料(英文版).pptx
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对外经贸会计专业相关资料(英文版).pptx
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ACCOUNTINGFORMERCHANDISINGACTIVITIESChapter61OperatingCycleofaMerchandisingCompanyOperatingcycle营业周期-Theaverageperiodbetweenthepurchaseofmerchandiseandtheconversionofthismerchandisebackintocash.2OperatingCycleofaMerchandisingCompany1.Purchaseofmerchandise3.Collectionofthereceivables2.SaleofmerchandiseonaccountCashInventoryAccountsReceivableCashsales3ComparingMerchandisingActivitieswithManufacturingActivitiesMerchandisingCompanyPurchaseinventoryinready-to-sellcondition.ManufacturingCompanyManufactureinventoryandhavealongerandmorecomplexoperatingcycle4IncomeStatementofaMerchandisingCompanyCostofgoodssold销货成本销货成本representstheexpenseofgoodsthataresoldtocustomers.Grossprofitisausefulmeansofmeasuringtheprofitabilityofsalestransactions.5ComputerBarnCondensedIncomeStatementFortheYearEndedDecember31,2002Revenuefromsales900,000$Less:
Costofgoodssold540,000Grossprofit360,000$Less:
Expenses270,000Netincome90,000$WhatAccountingInformationDoesaMerchandisingCompanyNeed?
FinancialReportingRequirementsDailyBusinessOperatingRequirementsSpecialReportingRequirementsExamplesRevenuesExpensesCustomerLedgersTaxReports6GeneralLedgerAccountsAlthoughgeneralledgeraccountsprovideusefulinformation,theydonotprovidemuchofthedetailedinformationneededinthedailybusinessoperations.Whoowesusmoney?
7GeneralLedgerAccountsReceivableDateDebitCreditBalance2001June110,00010,000153,0007,000SubsidiaryLedgers明细分类账:
ASourceofNeededDetailsControllingAccount统制账户统制账户8SubsidiaryLedgerHeatherJacobsDateDebitCreditBalance2001June17,0007,000152,0005,000GeneralLedgerAccountsReceivableDateDebitCreditBalance2001June110,00010,000153,0007,000SubsidiaryLedgerJakeSparksDateDebitCreditBalance2001June13,0003,000151,0002,000SubsidiaryLedgersAccountsreceivable(subsidiary)ledger应收账款明细账-AlistofallthechargecustomersandtheirrespectivebalanceAccountspayable(subsidiary)ledger应付账款明细账-AlistofallsuppliersandtheirrespectivebalanceInventorysubsidiaryledger存货明细账(p.227)-separateaccountforeachtypeofproductinthecompanysinventory9SubsidiaryLedgersAccountsreceivableledgerName:
_Address:
_DateItemPostDebitCreditBalanceRef.1011ControllingAccountintheGeneralLedgerUnitofOrganizationWithintheSubsidiaryLedgerInventoryEachtypeofproductofferedforsalePlantassetsEachasset(orgroupofsimilarassets)AccountspayableEachcreditorCapitalstockEachstockholderSalesEachdepartment,branchlocation,orproductlineCostofgoodssoldSameorganizationasthesalesledgerManyexpenseaccountsEachdepartmentincurringthesetypesofexpensesPayrollexpensesEachemployeeTwoApproachesUsedinAccountingforMerchandiseTransactionsPerpetualInventorySystemPeriodicInventorySystem12PerpetualInventorySystem永续盘存制Theinventoryaccountiscontinuouslyupdatedtoreflectitemsonhand.Letslookatsomeentries!
13PerpetualInventorySystemOnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.14GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.5Inventory3,000AccountsPayable(ElectronicCity)3,000PerpetualInventorySystemOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.10*$30=$30015GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.10AccountsReceivable(ABCRadios)500Sales50010CostofGoodsSold300Inventory300PerpetualInventorySystemCostRetailOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.16GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.10AccountsReceivable(ABCRadios)500Sales50010CostofGoodsSold300Inventory300PerpetualInventorySystemOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.17GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.15AccountsPayable(ElectronicCity)3,000Cash3,000PerpetualInventorySystemOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.18GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.22Cash500AccountsReceivable(ABCRadios)500TheInventorySubsidiaryLedgerAttheendoftheperiod,managementcomparesthephysicalinventorycount实地盘存实地盘存withtheinventoryledgertodetermineinventoryshrinkage存货损耗存货损耗.19ItemLL002PrimarysupplierElectronicCityDescriptionLaserLightSecondarysupplierElectricCompanyLocationStoreroom2Inventorylevel:
Min:
25Max:
200PurchasedSoldBalanceDateUnitsUnitCostTotalUnitsUnitCostCostofGoodsSoldUnitsUnitCostTotalSept.510030$3,000$10030$3,000$Sept.101030$300$90302,700PerpetualInventoryMethodInventoryAccountPayableAssetOELiabilityRevenueExpense=+-+-CostofgoodsoldSales-+-=+Sep.53000Sep.53000Sep.10500Sep.10500Sep.10300Purchase100units,30$sales10units,50$Sep.10300AccountRec.+-TakingaPhysicalInventoryInordertoensuretheaccuracyoftheirperpetualrecords,mostbusinessestakeacompletephysicalcountofthemerchandiseonhandatleastonceayear.21TakingaPhysicalInventoryReasonableamountsofinventoryshrinkageareviewedasanormalcostofdoingbusiness.Examplesincludebreakage,spoilageandtheft.OnDecember31,WorleyCo.countsitsinventory.Aninventoryshortageof$2,000isdiscovered.22GENERALJOURNALDateAccountTitlesandExplanationDebitCreditDec.31CostofGoodsSold2,000Inventory2,000PerpetualInventoryMethodInventoryAssetOELiabilityRevenueExpense=+-+-Costofgoodsold+-=+Sep.53000Dec.312000Sep.10300InventoryshrinkageSep.10300Dec.312000PerpetualInventorySystemBeginninginventoryCostofgoodsavailable+Purchasesforsale-Costofgoodssold=EndinginventoryNetSales-Costofgoodsold=GrossprofitExercise6.4(p.253)Exercise6.6(p.254)24ClosingEntriesinaPerpetualInventorySystemCloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDividendstoRetainedEarnings.Theclosingentriesarethesame!
25PeriodicInventorySystem定期盘存制Noeffortismadetokeepup-to-daterecordsofeitherinventoryorcostofgoodssold.Letslookatsomeentries!
26PeriodicInventorySystemOnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.NoticethatnoentryismadetoInventory.27GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.5Purchases3,000AccountsPayable(ElectronicCity)3,000PeriodicInventorySystemOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.Retail28GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.10AccountsReceivable(ABCRadios)500Sales500PeriodicInventorySystemOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.29GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.15AccountsPayable(ElectronicCity)3,000Cash3,000PeriodicInventorySystemOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.30GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.22Cash500AccountsReceivable(ABCRadios)500PerpetualInventoryMethodInventoryAccountPayableAssetOELiabilityRevenueExpense=+-+-PurchaseSales-+-=+Sep.53000Sep.53000Sep.10500Sep.10500Purchase100units,30$sales10units,50$AccountRec.+-ComputingCostofGoodsSoldinaPeriodicInventorySystemTheyear-endinventoryisdeterminedbytakingacompletephysicalcountofthemerchandiseonhandBeginninginventoryCostofgoodsavailable+Purchasesforsale-Endinginventory=Costofgoodssold32ComputingCostofGoodsSoldinaPeriodicInventorySystemTheaccountingrecordsofPartySupplyshowthefollowing:
Inventory,Jan.1,2003$14,000Purchases(during2003)130,000AtDecember31,2003,PartySupplycountedthemerchandiseonhandat$12,000.CalculatePartySupplyscostofgoodssoldfor2003.33ComputingCostofGoodsSoldinaPeriodicInventorySystemCostofGoodsSoldcanbecalculatedasfollows:
34Inventory(beginningoftheyear)14,000$Add:
Purchases130,000Costofgoodsavailableforsale144,000Less:
Inventory(endofyear)12,000Costofgoodssold132,000$CreatingCostofGoodsSoldinaPeriodicInventorySystemNow,PartySupplymustcreatetheCostofGoodsSoldaccount.35GENERALJOURNALDateAccountTitlesandExplanationDebitCreditDec.31CostofGoodsSold144,000Inventory(beginningofyear)14,000Purchases130,000CreatingCostofGoodsSoldinaPeriodicInventorySystemNow,PartySupplymustrecordtheendinginventoryamount.36GENERALJOURNALDateAccountTitlesandExplanationDebitCreditDec.31Inventory(endofyear)12,000CostofGoodsSold12,000PerpetualInventoryMethodInventoryAssetOELiabilityRevenueExpense=+-+-PurchaseSales+-130000130000Dec.3112000Dec.3112000Dec.31130000PurchaseinthisyearAccountPay.+-CostofGoodSold+-Jan.114000Dec.3114000Dec.3113000014000EndinginventoryPeriodicinventorysystemExercise6.8(p.255)Question9(p.252)38CompletingtheClosingProcessCloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDividendstoRetainedEarnings.Theclosingentriesarethesame!
39ComparisonofPerpetualandPeriodicInventorySystemsRefertotheexhibit6-6onpage23640ComparisonofPerpetualandPeriodicInventorySystemsPeriodicInventorySystemJosDressShopPerpetualInventorySystemLargeDepartmentStores41ModifyinganAccountingSystemMostbusinessesusespecialjournals特特种日记账种日记账ratherthanageneraljournaltorecordroutinetransactionsthatoccurfrequently.42GENERALJOURNALDateAccountTitlesandExplanationDebitCreditCreditTermsandCashDiscounts信贷信贷/信用条件信用条件2/10,n/30Readas:
“Twoten,netthirty”Whenm
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