会计学原理-约翰·J·怀尔德版-上海交通大学-11.ppt

Chapter11,CurrentLiabilitiesandPayrollAccounting,ConceptualLearningObjectives,C1:Describecurrentandlong-termliabilitiesandtheircharacteristicsC2:IdentifyanddescribeknowncurrentliabilitiesC3:Explainhowtoaccountforcontingentliabilities,A1:Computethetimesinterestearned（收入利息比）ratioanduseittoanalyzeliabilities,AnalyticalLearningObjectives,P1:Prepareentriestoaccountforshort-termnotespayableP2:ComputeandrecordemployeepayrolldeductionsandliabilitiesP3:ComputeandrecordemployerpayrollexpensesandliabilitiesP4:Accountforestimatedliabilities,includingwarrantiesandbonusesP5:Appendix11A:Identifyanddescribethedetailsofpayrollreports,records,andprocedures,ProceduralLearningObjectives,Past,Present,Future,DefiningLiabilities,Becauseofapastevent.,Thecompanyhasapresentobligation（义务）,.Forfuturesacrifices,C1,ClassifyingLiabilities,CurrentLiabilities,C1,CurrentandLong-TermLiabilities,$46mil.,$1,658mil.,$719mil.,$44mil.,C1,UncertaintyinLiabilities,UncertaintyinWhomtoPay,UncertaintyinWhentoPay,UncertaintyinHowMuchtoPay,C1,AccountsPayable,SalesTaxesPayable,UnearnedRevenues,Short-TermNotesPayable,Known(Determinable)Liabilities,PayrollLiabilities,Multi-PeriodKnownLiabilities,C2,OnMay15,2007,MaxHardwaresoldbuildingmaterialsfor$7,500thataresubjecttoa6%salestax.,SalesTaxesPayable,C2,OnMay1,2007,A-1Cateringreceived$3,000inadvanceforcateringaweddingpartytotakeplaceonJuly12,2007.,UnearnedRevenues,C2,Awrittenpromisetopayaspecifiedamountonadefinitefuturedatewithinoneyearorthecompanysoperatingcycle,whicheverislonger.,Short-TermNotesPayable,P1,OnAugust1,2007,Matrix,Inc.askedCarter,Co.toaccepta90-day,12%notetoreplaceitsexisting$5,000accountpayabletoCarter.Matrixwouldmakethefollowingentry:,NoteGiventoExtendCreditPeriod,P1,OnOctober30,2007,Matrix,Inc.paysthenoteplusinteresttoCarter.,NoteGiventoExtendCreditPeriod,P1,NoteGiventoBorrowfromBank,P1,FaceValueEqualsAmountBorrowed,OnSeptember1,2008,JacksonSmithborrows$20,000fromAmericanBank.Thenotebearsinterestat6%peryear.Principalandinterestareduein90days(November30,2008).,P1,OnNovember30,2008,Smithwouldmakethefollowingentry:,FaceValueEqualsAmountBorrowed,P1,MaturityDate,End-of-PeriodAdjustmenttoNotes,P1,Dec.16,2008,Dec.31,2008,Feb.14,2009,JamesBurrowsborrowed$8,000onDec.16,2008,bysigninga12%,60-daynotepayable.,End-of-PeriodAdjustmenttoNotes,NoteDate,EndofPeriod,MaturityDate,P1,OnDecember16,2008,JamesBurrowswouldmakethefollowingentry:,End-of-PeriodAdjustmenttoNotes,OnDecember31,2008,theadjustmentis:,$8,00012%(15360)=$40,P1,OnFebruary14,2009,JamesBurrowswouldmakethefollowingentry.,End-of-PeriodAdjustmenttoNotes,P1,Employersincurexpensesandliabilitiesfromhavingemployees.,PayrollLiabilities,P2,EmployeePayrollDeductions,FICATaxes,MedicareTaxes,FederalIncomeTax,StateandLocalIncomeTaxes,VoluntaryDeductions,GrossPay,P2,FICATaxesSoc.Sec.,FICATaxesMedicare,2006:6.2%ofthefirst$94,200earnedintheyear(Max=$5,840).,2006:1.45%ofallwagesearnedintheyear.,EmployersmustpaywithheldtaxestotheInternalRevenueService(IRS).,EmployeeFICATaxes,FederalInsuranceContributionsAct(FICA),P2,Amountswithhelddependontheemployeesearnings,taxrates,andnumberofwithholdingallowances.,Employersmustpaythetaxeswithheldfromemployeesgrosspaytotheappropriategovernmentagency.,FederalIncomeTax,StateandLocalIncomeTaxes,EmployeeIncomeTax,P2,Amountswithhelddependontheemployeesrequest.,Employersowevoluntaryamountswithheldfromemployeesgrosspaytothedesignatedagency.,VoluntaryDeductions,Examplesincludeuniondues,savingsaccounts,pensioncontributions,insurancepremiums,andcharities,EmployeeVoluntaryDeductions,P2,Theentrytorecordpayrollexpensesanddeductionsforanemployeemightlooklikethis.,RecordingEmployeePayrollDeductions,P2,EmployerPayrollTaxes,P3,FederalandStateUnemploymentTaxes,P3,TheentrytorecordtheemployerpayrolltaxesforJanuarymightlooklikethis:,SUTA:$4,0005.4%=$216FUTA:$4,000(6.2%-5.4%)=$32,FICAamountsarethesameasthatwithheldfromtheemployeesgrosspay.,RecordingEmployerPayrollTaxes,P3,Multi-PeriodKnownLiabilities,Oftenincludeunearnedrevenuesandnotespayable.,Unearnedrevenuesfrommagazinesubscriptionsoftencovermorethanoneaccountingperiod.Aportionoftheearnedrevenueisrecognizedeachperiodandtheunearnedrevenueaccountisreduced.,Notespayableoftenextendovermorethanoneaccountingperiod.Athree-yearnotepayablewouldbeclassifiedasacurrentliabilityforoneyearandalong-termliabilityfortwoyears.,P3,Anestimatedliabilityisaknownobligationofanuncertainamount,butonethatcanbereasonablyestimated.,EstimatedLiabilities,P4,Employerexpensesforpensionsormedical,dental,lifeanddisabilityinsurance,HealthandPensionBenefits,Assumeanemployeragreestopayanamountformedicalinsuranceequalto$8,000,andcontributeanadditional10%oftheemployees$120,000grosssalarytoaretirementprogram.,P4,Employerexpensesforpaidvacationbyemployees,VacationBenefits,Assumeanemployeeearns$62,400peryearandearnstwoweeksofpaidvacationeachyear.,P4,Manybonusespaidtoemployeesarebasedonreportednetincome.,BonusPlans,Assumetheannualyearlybonustothestoremanagerisequalto10%ofthecompanysannualnetincomeminusthebonus.Thestoreearned$100,000netincomethisyear.,P4,Manybonusespaidtoemployeesarebasedonreportednetincome.,BonusPlans,Assumetheannualyearlybonustothestoremanagerisequalto10%ofthecompanysannualnetincomeminusthebonus.Thestoreearned$100,000netincomethisyear.,P4,WarrantyLiabilities,Sellersobligationtoreplaceorcorrectaproduct(orservice)thatfailstoperformasexpectedwithinaspecifiedperiod.Toconformwiththematchingprinciple,thesellerreportsexpectedwarrantyexpenseintheperiodwhenrevenuefromthesaleisreported.,Adealersellsacarfor$32,000,onDecember1,2007,withawarrantyforpartsandlaborfor12months,or12,000miles.Thedealershipexperiencesanaveragewarrantycostof3%ofthesellingpriceofeachcar.,P4,WarrantyLiabilities,Adealersellsacarfor$32,000,onDecember1,2007,withawarrantyforpartsandlaborfor12months,or12,000miles.Thedealershipexperiencesanaveragewarrantycostof3%ofthesellingpriceofeachcar.,OnFebruary15,2008,partsof$200andlaborof$250coveredunderwarrantywereincurred.,P4,Amount.,ContingentLiabilities,Potentialobligationthatdependsonafutureeventarisingoutofapasttransactionorevent.,C3,AccountingforContingentLiabilities,ReasonablyPossibleContingentLiabilities,PotentialLegalClaimsApotentialclaimisrecordediftheamountcanbereasonablyestimatedandpaymentfordamagesisprobable.,DebtGuaranteesTheguarantorusuallydisclosestheguaranteeinitsfinancialstatementnotes.Ifitisprobablethatthedebtorwilldefault,theguarantorshouldrecordandreporttheguaranteeasaliability.,C3,Ifincomebeforeinterestandtaxesvariesgreatlyfromyeart