专业英语会计分录.doc

专业英语分录练习1. Jan.1 The owner of Johnson company, Mr. Deep and his friends, invested 75 000 in cash, Land valuing 50 000 and Equipment A valuing 73 000 into the company.Dr. Cash Land Equipment A Cr. Capital 2. Jan.1 Johnson Company receive a long-term bank loan of 60 000. The bank agreed to lend the money to it for 3 years with the annual interest rate of 12% and the interest shall be paid annually at the year ends while the principal should be paid back at the end of the third year. How did the company make the entry on Dec. 31?Jan 1 Dr. cash 60 000 Cr. Loan 60 000Dec 31 Dr. interest expense 600 Interest payable 6600 Cr. Cash 72003. Jan 1 Buy the business insurance for one year costing 24 000, the bill has not paid yet.Dr. prepaid insurance/unexpired insurance 24 000 Cr.Account payable 24 0004. Jan.2 Johnson Company purchased 10 000 raw materials on credit and the supplier agree to collect cash one month later.Dr. raw materials 10 000 Cr. Account payable 10 0005 Jan 6 The company bought a company car at 11 000 for cash and cost 1 000 for transportation. Dr. Car 12000 Cr. Cash 120006. Jan.7 The company paid to the manufacturing workers 10 000(all direct) and administrative staffs 4 500 (nonmanufacturing).Dr. manufacturing payroll 10000 Salary expenses 4500 Cr. Cash 145007. Jan.8 Company moved all the finished goods, with the cost of 45 500, into warehouse ready for sale. Dr. finished goods 45500 Cr. Work in process 455008. Jan 11 Sale the product for 125 000. Half of the sales were for cash, half on credit. Also, it reported the cost of 40 000.Dr. cash 62500 Account receivable 62500 Cr. Sales revenue 125000Dr. cost of goods sold 40 000 Cr. Finished goods 40 0009. Jan 31 Company used bad debt allowance method to record bad debt expense. It recognized 6% of the ending balance of Accounts receivable as the bad debt expense of that accounting period.Dr. bad debt expense 62500*6%=3750 Cr. Bad debt allowance 62500*6%=375010. Jan 31 Record the accrual expense. (Suppose the car is supposed to be used for 5 years.) Dr. insurance expense 2000 Cr. Prepaid insurance 2000Dr. Depreciation expense 200 Cr. Accumulated Depreciation 200Dr. Interest expense 600 Cr. Interest payable 60011. Jan 31 Close all the revenue account and expense account.Dr. sales revenue 125000 Cr. Income summary 125000Dr. Income summary 51 050 Cr. Salary expense 4500 COGS 40000 Bad debt expense 3750 Insurance expense 2000 Depreciation ex