对外经贸会计专业.ppt

Slide6-1,ACCOUNTINGFORMERCHANDISINGACTIVITIES,Chapter6,Slide6-2,OperatingCycleofaMerchandisingCompany,Operatingcycle营业周期-Theaverageperiodbetweenthepurchaseofmerchandiseandtheconversionofthismerchandisebackintocash.,Slide6-3,OperatingCycleofaMerchandisingCompany,1.Purchaseofmerchandise,3.Collectionofthereceivables,2.Saleofmerchandiseonaccount,Cash,Inventory,AccountsReceivable,Cashsales,Slide6-4,ComparingMerchandisingActivitieswithManufacturingActivities,MerchandisingCompany,Purchaseinventoryinready-to-sellcondition.,ManufacturingCompany,Manufactureinventoryandhavealongerandmorecomplexoperatingcycle,Slide6-5,IncomeStatementofaMerchandisingCompany,Slide6-6,WhatAccountingInformationDoesaMerchandisingCompanyNeed?,FinancialReportingRequirements,DailyBusinessOperatingRequirements,SpecialReportingRequirements,ExamplesRevenuesExpensesCustomerLedgersTaxReports,Slide6-7,GeneralLedgerAccounts,Althoughgeneralledgeraccountsprovideusefulinformation,theydonotprovidemuchofthedetailedinformationneededinthedailybusinessoperations.,Whoowesusmoney?,Slide6-8,SubsidiaryLedgers明细分类账:ASourceofNeededDetails,ControllingAccount统制账户,Slide6-9,SubsidiaryLedgers,Accountsreceivable(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)-separateaccountforeachtypeofproductinthecompanysinventory,Slide6-10,SubsidiaryLedgers,AccountsreceivableledgerName:_Address:_DateItemPostDebitCreditBalanceRef.,Slide6-11,Slide6-12,TwoApproachesUsedinAccountingforMerchandiseTransactions,Slide6-13,PerpetualInventorySystem永续盘存制,Theinventoryaccountiscontinuouslyupdatedtoreflectitemsonhand.,Letslookatsomeentries!,Slide6-14,PerpetualInventorySystem,OnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.,Slide6-15,PerpetualInventorySystem,OnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.,10*$30=$300,Slide6-16,PerpetualInventorySystem,Cost,Retail,OnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.,Slide6-17,PerpetualInventorySystem,OnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.,Slide6-18,PerpetualInventorySystem,OnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.,Slide6-19,TheInventorySubsidiaryLedger,Attheendoftheperiod,managementcomparesthephysicalinventorycount实地盘存withtheinventoryledgertodetermineinventoryshrinkage存货损耗.,PerpetualInventoryMethod,Inventory,AccountPayable,Asset,OE,Liability,Revenue,Expense,=,+,-,+,+,-,Costofgoodsold,Sales,-,+,+,-,-,=+,Sep.53000,Sep.53000,Sep.10500,Sep.10500,Sep.10300,Purchase100units,30$,sales10units,50$,Sep.10300,AccountRec.,+,+,-,Slide6-21,TakingaPhysicalInventory,Inordertoensuretheaccuracyoftheirperpetualrecords,mostbusinessestakeacompletephysicalcountofthemerchandiseonhandatleastonceayear.,Slide6-22,TakingaPhysicalInventory,Reasonableamountsofinventoryshrinkageareviewedasanormalcostofdoingbusiness.Examplesincludebreakage,spoilageandtheft.,OnDecember31,WorleyCo.countsitsinventory.Aninventoryshortageof$2,000isdiscovered.,PerpetualInventoryMethod,Inventory,Asset,OE,Liability,Revenue,Expense,=,+,-,+,+,-,Costofgoodsold,+,-,=+,Sep.53000,Dec.312000,Sep.10300,Inventoryshrinkage,Sep.10300,Dec.312000,Slide6-24,PerpetualInventorySystem,BeginninginventoryCostofgoodsavailable+Purchasesforsale-Costofgoodssold=EndinginventoryNetSales-Costofgoodsold=GrossprofitExercise6.4(p.253)Exercise6.6(p.254),Slide6-25,ClosingEntriesinaPerpetualInventorySystem,CloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDividendstoRetainedEarnings.,Slide6-26,PeriodicInventorySystem定期盘存制,Noeffortismadetokeepup-to-daterecordsofeitherinventoryorcostofgoodssold.,Letslookatsomeentries!,Slide6-27,PeriodicInventorySystem,OnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.,NoticethatnoentryismadetoInventory.,Slide6-28,PeriodicInventorySystem,OnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.,Retail,Slide6-29,PeriodicInventorySystem,OnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.,Slide6-30,PeriodicInventorySystem,OnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.,PerpetualInventoryMethod,Inventory,AccountPayable,Asset,OE,Liability,Revenue,Expense,=,+,-,+,+,-,Purchase,Sales,-,+,+,-,-,=+,Sep.53000,Sep.53000,Sep.10500,Sep.10500,Purchase100units,30$,sales10units,50$,AccountRec.,+,+,-,Slide6-32,ComputingCostofGoodsSoldinaPeriodicInventorySystem,Theyear-endinventoryisdeterminedbytakingacompletephysicalcountofthemerchandiseonhandBeginninginventoryCostofgoodsavailable+Purchasesforsale-Endinginventory=Costofgoodssold,Slide6-33,ComputingCostofGoodsSoldinaPeriodicInventorySystem,TheaccountingrecordsofPartySupplyshowthefollowing:Inventory,Jan.1,2003$14,000Purchases(during2003)130,000,AtDecember31,2003,PartySupplycountedthemerchandiseonhandat$12,000.,CalculatePartySupplyscostofgoodssoldfor2003.,Slide6-34,ComputingCostofGoodsSoldinaPeriodicInventorySystem,CostofGoodsSoldcanbecalculatedasfollows:,Slide6-35,CreatingCostofGoodsSoldinaPeriodicInventorySystem,Now,PartySupplymustcreatetheCostofGoodsSoldaccount.,Slide6-36,CreatingCostofGoodsSoldinaPeriodicInventorySystem,Now,PartySupplymustrecordtheendinginventoryamount.,PerpetualInventoryMethod,Inventory,Asset,OE,Liability,Revenue,Expense,=,+,-,+,+,-,Purchase,Sales,+,+,-,-,130000,130000,Dec.3112000,Dec.3112000,Dec.31130000,Purchaseinthisyear,AccountPay.,+,-,CostofGoodSold,+,-,Jan.114000,Dec.3114000,Dec.3113000014000,Endinginventory,Slide6-38,Periodicinventorysystem,Exercise6.8(p.255)Question9(p.252),Slide6-39,CompletingtheClosingProcess,CloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDividendstoRetainedEarnings.,Slide6-40,ComparisonofPerpetualandPeriodicInventorySystems,Refertotheexhibit6-6onpage236,Slide6-41,ComparisonofPerpetualandPeriodicInventorySystems,PeriodicInventorySystem,JosDressShop,PerpetualInventorySystem,LargeDepartmentStores,Slide6-42,ModifyinganAccountingSystem,Mostbusinessesusespecialjournals特种日记账ratherthanageneraljournaltorecordroutinetransactionsthatoccurfrequently.,Slide6-43,CreditTermsandCashDiscounts信贷/信用条件,2/10,n/30,Readas:“Twoten,netthirty”,Whenmanufacturersandwholesalersselltheirproductsonaccount,thecredittermsarestatedintheinvoice.,Slide6-44,CreditTermsandCashDiscounts,2/10,n/30,PercentageofDiscount,#ofDaysDiscountIsAvailable,Otherwise,theFullAmountIsDue,#ofDayswhenFullAmountIsDue,Cashdiscount现金折扣,SalesdiscountsintermsofsellerPurchasediscountsintermsofbuyer,Slide6-46,CreditTermsandCashDiscounts,Purchasesarerecordedattheirnetamounts.,Purchasediscounts（购货折扣）lostarerecordedwhenpaymentismadeoutsidethediscountperiod.,Net(price)Method净价法,Slide6-47,CreditTermsandCashDiscounts,OnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-48,CreditTermsandCashDiscounts,$4,000*98%=$3,920,OnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-49,CreditTermsandCashDiscounts,OnJuly15,PlayClothespaysthenetamountduetoKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-50,CreditTermsandCashDiscounts,OnJuly15,PlayClothespaysthenetamountduetoKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-51,CreditTermsandCashDiscounts,Now,assumethatPlayClotheswaiteduntilJuly20topaytheamountdueinfulltoKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-52,CreditTermsandCashDiscounts,Now,assumethatPlayClotheswaiteduntilJuly20topaytheamountdueinfulltoKidsClothes.PreparethejournalentryforPlayClothes.,ManagingDiscounts,Ifwefailtotakea2/10,n/30discount,isitreallyexpensive?,365days20days2%=36.5%annualrate,Slide6-54,RecordingPurchasesatGrossInvoicePrice,Purchasesarerecordedattheirgrossamounts.,Purchasediscountstakenarerecordedwhenpaymentismadeinsidethediscountperiod.,Gross(price)Method毛额法/总价法,Slide6-55,RecordingPurchasesatGrossInvoicePrice,OnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-56,RecordingPurchasesatGrossInvoicePrice,OnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-57,RecordingPurchasesatGrossInvoicePrice,OnJuly15,PlayClothespaysthenetamountduetoKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-58,RecordingPurchasesatGrossInvoicePrice,OnJuly15,PlayClothespaysthenetamountduetoKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-59,RecordingPurchasesatGrossInvoicePrice,Now,assumethatPlayClotheswaiteduntilJuly20topaythefullamountduetoKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-60,RecordingPurchasesatGrossInvoicePrice,Now,assumethatPlayClotheswaiteduntilJuly20topaythefullamountduetoKidsClothes.PreparethejournalentryforPlayClothes.,Slide6-61,ReturnsofUnsatisfactoryMerchandise,OnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisepurchasedfromKidsClothesoncredittermsof2/10,n/30.Thepurchasewasoriginallyrecordedatnetcost.PreparethejournalentryforPlayClothes.,Slide6-62,ReturnsofUnsatisfactoryMerchandise,$50098%=$490,OnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisepurchasedfromKidsClothesoncredittermsof2/10,n/30.Thepurchasewasoriginallyrecordedatnetcost.PreparethejournalentryforPlayClothes.,Slide6-63,TransportationCostsonPurchases（p.241),Transportationcostsrelatedtotheacquisitionofassetsarepartofthecostoftheassetbeingacquired.,Exercise,Problem6.4onpage258,Slide6-65,TransactionsRelatingtoSales,Credittermsandmerchandisereturnsaffecttheamountofrevenueearnedbytheseller.,Slide6-66,SalesReturnsandAllowances销售退回与折让,OnAugust2,KidsClothessold$2,000ofmerchandisetoPlayClothesoncreditterms2/10,n/30.KidsClothesoriginallypaid$1,000forthemerchandise.BecauseKidsClothesusesaperpetualinventorysystem,theymustmaketwoentries.,Slide6-67,SalesReturnsandAllowances,OnAugust2,KidsClothessold$2,000ofmerchandisetoPlayClothesoncreditterms2/10,n/30.KidsClothesoriginallypaid$1,000forthemerchandise.BecauseKidsClothesusesaperpetualinventorysystem,theymustmaketwoentries.,Slide6-68,SalesReturnsandAllowances,OnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisetoKidsClothesfromtheAugust2sale.KidsClothescostforthismerchandisewas$250.BecauseKidsClothesusesaperpetualinventorysystem,theymustmaketwoentries.,Contra-revenue,Slide6-69,OnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisetoKidsClothesfromtheAugust2sale.KidsClothescostforthismerchandisewas$250.BecauseKidsClothesusesaperpetualinventorysystem,theymustmaketwoentries.,SalesReturnsandAllowances,Slide6-70,SalesDiscounts销售折扣,OnJuly6,KidsClothessold$4,000ofmerchandisetoPlayClothesoncreditwithtermsof2/10,n/30.ThemerchandiseoriginallycostKidsClothes$2,000.BecauseKidsClothesusesaperpetualinventorysystem,theymustmaketwoentries.,Slide6-71,SalesDiscounts,OnJuly6,KidsClothessold$4,000ofmerchandisetoPlayClothesoncreditwithtermsof2/10,n/30.ThemerchandiseoriginallycostKidsClothes$2,000.BecauseKidsClothesusesaperpetualinventorysystem,theymustmaketwoentries.,Slide6-72,SalesDiscounts,OnJuly15,KidsClothesreceiv