会计英语八章课件

会计英语八章,1,Receivable,会计英语八章,2,Theterm“receivables”referstoamountsduefromanotherentityorindividual.Theyareclaimsthatareexpectedtobecollectedincash.(1)accountsreceivable(2)notesreceivable(3)otherreceivable,会计英语八章,3,Accountsreceivable,Accountsreceivableareamountduefromcustomers.Theyarisefromsellinggoodsorservicesoncredit.Accountsreceivableareexpectedtobecollectedwithinoneyearandareclassifiedascurrentassetsonthebalancesheet.,会计英语八章,4,Accountingforbaddebts,Fewcompaniesthatgrantcredittocustomergetawayfromsufferingcreditlosses.Thelossesduetouncollectedaccountsfromcustomersaregenerallydescribedasbaddebts.,会计英语八章,5,Thetotalamountofuncollectibleaccountisanexpenseagainstcreditsales.Whyarecompanieswillingtoselloncrediteventhensufferinghighriskofbaddebts?,会计英语八章,6,Theanswerisclearthatgrantingcreditresultsinhighinventoryturnoverandincreasingsalesvolume.Eventhoughbaddebitsincurred,mostoftheproductcostisrecovered,andthereturnofincomeoffsetstheuncollectibleaccountsenough.,会计英语八章,7,Acompanycanapplytwomethodsfordealingwithbaddebts:Thedirectwrite-offmethodTheallowancemethod.,会计英语八章,8,Directwrite-offmethod,Underthedirectwrite-offmethod,whenaparticularaccountisdeterminedtobeuncollectible,thelossischargedtobaddebitsexpense.Thatis,baddebtisrecordedonlywhenactuallossisconfirmed.,会计英语八章,9,AssumethatonJan.15,Dennyco.learnthatitcannotcollect1325accountowedbyitscustomerKartCo.itrecognizesthelossusingthedirectwrite-offmethodasfollows:Dr.baddebtexpense1325Cr.AccountsreceivableKart1325,会计英语八章,10,Sometimesanaccountwrittenoffislatercollectedduetofactorssuchascontinualcollectioneffortsoracustomersrecoveryoffinancialcondition.,会计英语八章,11,Forexample,iftheaccountpreviouslywrittenoffbyDennyCo.onJan.15iscollectedinfullonFebruary22,thefollowingentriesaremadetorecordtherecovery:Dr.accountsreceivableKartCo.1325Cr.Baddebtexpense1325Dr.cash1325Cr.AccountsreceivableKartCo.1325,会计英语八章,12,Allowancemethod,Thematchingprinciplerequiresexpensestoberecognizedinthesameaccountingperiodasthesalestheyhelpedproduce.Thismeansthatifcredittocustomershelpedproducessales,thebaddebtsexpenselinkedtothosesalesismatchedandreportedinthesameperiod.,会计英语八章,13,Thedirectwrite-offmethodusuallydoesnotbestmatchsalesandexpenses,becausebaddebtsexpenseisnotrecordeduntilanaccountbecomesuncollectible,whichoftenoccursinaperiodafterthatofthecreditsale.Tomatchbaddebtsexpensewiththecreditsalesproduced,acompanyneedstoestimatefuturebaddebtlosses.,会计英语八章,14,TheallowancemethodestimatesbaddebitsexpenseattheendofeachaccountingperiodandrecordsitwithanadjustingentryDec.31Dr.baddebtexpenseCr.Baddebtallowance,会计英语八章,15,Theallowanceforbaddebtsaccountisacontraassetaccount.Itisrecordedtoreduceaccountsreceivabletoitsestimatedrealizablevalue（可变现净值）.,会计英语八章,16,Thepresentationoftheallowanceforbaddebtsinthecurrentassetsectionofthebalancesheetisasfollows:,会计英语八章,17,Methodtoestimatedbaddebts,PercentofaccountsreceivablemethodThepercentofaccountsreceivablemethodusesbalancesheetrelationstoestimatebaddebts.Themethodassumesthatagivenpercentofacompanysreceivableisuncollectible.,会计英语八章,18,Thispercentisbasedonpastexperienceandisevaluatedbycurrenteconomicconditionsandthecustomersfinancialposition.,会计英语八章,19,AssumethatWaneCo,has1800000ofaccountsreceivableonDecember31,2009.theallowanceforbaddebtshadanendingcreditbalanceof6400onDecember312008.thecompanyestimates1%ofitsreceivabletobeuncollectible,thus,theallowanceaccountisrequiredtokeepa18000(1%of1800000)creditbalanceatyearend.,会计英语八章,20,Theactualamountofbaddebtsestimationisthedifferencebetweentherequiredbalanceandtheexistingcreditbalanceintheallowanceaccount.Anentryismadeasfollows:2009Dec.31Dr.baddebtexpense11600Cr.BaddebtAllowance1160018000-6400=11600,会计英语八章,21,Whenspecificaccountsaredeterminedtobeuncollectible,theyarewrittenoffagainsttheallowanceforbeddebt.Recallfromthepreviousexample,assumethatonJanuary302010,WaneCo.identifies10000accounttobeuncollectibleaftergreateffortsofcollection.Itmakesthefollowingentrytowriteoffthebaddebt.,会计英语八章,22,2010Jan30Dr.baddebtallowance10000Cr.Accountsreceivable10000Notethatthewrite-offofabaddebtaffectsonlybalancesheetaccounts.,会计英语八章,23,Anothermethodforestimatinguncollectibleaccountsonbalancesheetrelationisagingofaccountsreceivablemethod.Usingthismethod,eachreceivableisclassifiedbyhowlongitispastduedate,thenestimatesofuncollectibleamountsaremadeforeachclassofaccountsreceivableassumingthatthelongeranamountispastdue,themorelikelyitistobeuncollectible,会计英语八章,24,Occasionally,thecompanywillreceivecashfromacustomeraftertheaccounthasbeenwrittenoffearlier.Itiscalledtherecoveryofanuncollectibleaccount,会计英语八章,25,Assumethatonmarch20.2010,WaneCo,receivable6500fromcustomeronaccountthathadbeenwrittenoffpreviously.Theentriesareasfollows:Dr.Accountsreceivable6500Cr.Baddebtallowance6500Dr.Cash6500Cr.Accountsreceivable6500,会计英语八章,26,Notereceivable,Sometimes,acompanygrantscredittocustomerinexchangeforapromissorynote.Anoteisawrittendocumentthatpromisestopayaspecifiedamountofmoneyunconditionallyonadefinitefuturedateordemand.,会计英语八章,27,Thefacevalueofanoteiscalledtheprincipal.Themakerofanoteisthepartywhoreceivesthecreditandpromisestopaythenotesholder.Themakerclassifiesthenoteasanotepayable.Thepayeeisthepartytheholdsthenoteandreceivespaymentfromthemakerwhenthenoteisdue.Thepayeeclassifiesthenoteasanotereceivable.,会计英语八章,28,Onmarch2hopescompanyreceivesapromissorynoteof3000forservicesrendered.Theentryforthetransactionisasfollows:Dr.notesreceivable3000Cr.Servicerevenue3000,会计英语八章,29,Usually,anaccountreceivableisduewithinashortperiodoftime,whileanotereceivablecanextendforlongerperiodoftime.Acompanymayacceptanoteinsettlementofaccountsreceivable.,会计英语八章,30,AssumethatWaneCo,agreedtoaccepta6000,90-day,10%notefromcustomertosettleitspast-dueaccount.Dr.notesreceivableRader6000Cr.AccountsreceivableRader6000,会计英语八章,31,Notescanbeinterest-bearingornoninterest-bearing.Interestonanote=principalvalueofnote*annualinterestrate*timeintermofoneyearThematurityvalueofnote=principalvalue+interest,会计英语八章,32,Themakerofthenoteusuallyhonorsthenoteandpaysitinfullatitsmaturitydate.AssumethatSunnyCo.acceptsMarkCo.s4800,8%,30-daynoteonApril11.whenMarkpaysthenoteonMay11,thematuritydateDr.Cash4832Cr.Notesreceivable4800interestrevenue3232？,会计英语八章,33,Themakerofthenotefailstopaythenoteatmaturity,thatissay,thenoteisdishonored.Theactofdishonoredanotedoesnotmeanthatthepayeerenouncetheclaimagainstthemaker.Thebalanceofnotesreceivableaccountandinterestrevenueistransferredtoanaccountsreceivableaccountduefromitsmaker.,会计英语八章,34,AssumethatonMay11,Markdishonorsthenote.SunnyCo.recordsthefollowingentry:Dr.Accountsreceivable-Mark4832Cr.NotereceivableMark4800Interestrevenue32,会计英语八章,35,Acompanycansellnotesreceivabletoathirdpartypriortothematuritydatesoastoimmediatelyreceivecash.Usually,thisisdonebydiscountingthenotesreceivableatthebank.Theholderofthenotemakesanendorsementanddeliversthenotetothebank.,会计英语八章,36,Thebankthenchargestheholderadiscountexpenseandpaystheremainderofthenotesvaluetotheholder,takesownershipofthenote,andfinallyreceivablethematurityvaluewhenitisdue.,会计英语八章,37,Matching1,accountsreceivable2,cashdiscount3,agingofaccountsreceivable4,baddebts5,directwriteoff6,maturitydateofanote7,promissorynote8,honorednoteA,theuncollectibleaccountsduefromcustomers.B,ananalysisofindividualcustomeraccountsbythelengthoftimetheyhavebeenunpaid.,会计英语八章,38,1,accountsreceivable2,cashdiscount3,agingofaccountsreceivable4,baddebts5,maturitydateofanote6,promissorynoteC,adeductionfromtheinvoicepricegrantedtoencouragepromptpaymentoftheamountdue.D,thedateonwhichanoteandanyinterestaredueandpayable.E,anotethatispaidinfullatmaturityF,amountsduefromcustomersforcreditsales,会计英语八章,39,Case1,theEFG.Co.hadacreditbalanceinbaddebtallowance5000onDecember312007.usingthepercentofcreditsalemethod,EFGestimatesuncollectibleas2%ofaccountsreceivableaccountsreceivabletotaled265000during2008and325000during2009.a16000ofsalesreturnsandallowancesincurredin2009Require:preparetheadjustingentry,会计英语八章,40,Dec312008Dr.baddebtexpense300Cr.Baddebtallowance300Dec312009Dr.baddebtexpense880Cr.Baddebtallowance880,会计英语八章,41,2,HowardCo.hasabeginningcreditbalanceof560initsallowanceforbaddebtonJanuary12008.theendingbalanceofaccountsreceivablefor2008is900000,thecompanyestimatesbaddebtstobe0.5%ofitsaccountsreceivable.ThefollowingarethetransactionA,preparedadjustingentryforbaddebtsfortheyearendedatDec312008,会计英语八章,42,B,May172009,sold50000ofmerchandisetocustomeroncreditC,June8,3000accountofcustomerABCwasdetermineduncollectibleD,July2,rece