会计学第五章.ppt

PrinciplesofAccounting,JohnJ.WildKenW.ShawBarbaraChiappetta19thEdition,McGraw-Hill/Irwin,Copyright2009byTheMcGraw-HillCompanies,Inc.Allrightsreserved.,会计学原理,Chapter5,AccountingforMerchandisingOperations,ConceptualLearningObjectives,C1:Describemerchandisingactivitiesandidentifyincomecomponentsforamerchandisingcompany.C2:Identifyandexplaintheinventoryassetofamerchandisingcompany.C3:Describebothperpetualandperiodicinventorysystems.C4:Analyzeandinterpretcostflowsandoperatingactivitiesofamerchandisingcompany.,4-3,ProceduralLearningObjectives,P1:Analyzeandrecordtransactionsformerchandisepurchasesusingaperpetualsystem.P2:Analyzeandrecordtransactionsformerchandisesalesusingaperpetualsystem.P3:Prepareadjustmentsandcloseaccountsforamerchandisingcompany.P4:Defineandpreparemultiple-stepandsingle-stepincomestatements.,4-4,MerchandisingActivities,Serviceorganizationsselltimetoearnrevenue.Examples:Accountingfirms,lawfirmsandplumbingservices,Revenues,C1,4-5,Manufacturer,Wholesaler,Retailer,Customer,MerchandisingCompaniesacquireproducts/goodsandreselltocustomerstoearnrevenue.,MerchandisingActivities,C1,4-6,Merchandise-productsorgoods,acquiredtoreselltocustomersMerchandiser-earnsnetincomebybuyingandsellingmerchandiseWholesaler-anintermediary,buysproductsfromandsellstoRetailer-anintermediary,buysfromandsellstocustomers,ReportingIncomeofaMerchandiser,Merchandisingcompaniessellproductstoearnrevenue.Examples:sportinggoods,clothing,andautopartsstores,CostofGoodsSold,GrossProfit,Expenses,NetIncome,Equals,Minus,Equals,P2,4-7,OperatingCycleforaMerchandiser,Beginswiththepurchaseofmerchandiseandendswiththecollectionofcashfromthesaleofmerchandise.,Purchases,Merchandiseinventory,Creditsales,Accountsreceivable,Cashcollection,Purchases,Merchandiseinventory,Cashsales,CashSale,CreditSale,C2,4-8,InventorySystems存货,+,Beginninginventory,Netpurchases,Merchandiseavailableforsale,Endinginventory,Costofgoodssold,=,C3,4-9,+,Merchandiseinventory,orinventory,referstoproductsthatacompanyownsandintendstosell.,MerchandisePurchases,OnJune20,Jason,Inc.purchased$14,000ofMerchandiseInventorypayingcash.,P1,4-10,SellerInvoicedatePurchaserOrdernumberCredittermsFreighttermsGoodsInvoiceamount,P1,4-11,MerchandisePurchases,PurchaseDiscounts,Adeductionfromtheinvoicepricegrantedtoinduceearlypaymentoftheamountdue.,TermsTimeDue,DiscountPeriod,Due:Invoicepriceminusdiscount,CreditPeriod,Due:FullInvoicePrice,DateofInvoice,P1,4-12,2/10,n/30,PurchaseDiscounts,DiscountPercent,NumberofDaysDiscountIsAvailable,Otherwise,Net(orAll)IsDuein30Days,CreditPeriod,P1,4-13,PurchaseDiscounts,OnMay7,Jason,Inc.purchased$27,000ofmerchandiseinventoryonaccount,credittermsare2/10,n/30.,P1,4-14,PurchaseDiscounts,OnMay15,Jason,Inc.paidtheamountdueonthepurchaseofMay7.,*$27,0002%=$540discount,P1,4-15,PurchaseDiscounts折扣,Afterweposttheseentries,theaccountsinvolvedlooklikethis:,P1,4-16,WhenDiscountisNotTaken,Ifwefailtotakea2/10,n/30discount,isitreallyexpensive?,X365days20days2%=36.5%annualrate,P1,4-17,Impliedannualinterestrate,X,365,2%,3010,WhenDiscountisNotTaken,Youpurchaseabatchofproductsontermsof3/10,n/90,butyourcompanyhaslimitedcashandyoumustborrowfundsatan11%annualrateifyouaretopaywithinthediscountperiod.Doyoutakeadvantageofthepurchasediscount?Nottousethediscountterm,paythefullamount(100%)onDay90th.Usethediscountterm:Borrowat11%for80daysPay97%onDay10thPay97%11%80/3652.34%,3%enjoyed;2.34%incurred;So,0.66%saved!,PurchaseReturnstermsof2/10,n/30.TheshippingtermswereFOBshippingpoint.Theshippingcostwas$100.WhichofthefollowingwillbepartofBuyersJuly6journalentry?a.CreditSales$7,500b.CreditPurchaseDiscounts$150c.DebitMerchandiseInventory$7,600d.DebitAccountsPayable$7,450,FOBshippingpointindicatesthebuyerultimatelypaysthefreight.ThisisrecordedwithadebittoMerchandiseInventory.,P1,4-25,CostofMerchandisePurchased,P1,4-26,AccountingforMerchandiseSales,P2,4-27,SalesofMerchandiseTwoparts:torecognizerevenueinformofanassettorecognizecostofmerchandisesold,OnMarch18,DiamondStoresold$25,000ofmerchandiseonaccount.Themerchandisewascarriedininventoryatacostof$18,000.,P2,4-28,SalesDiscounts销售折扣,OnJune8,BartonCo.soldmerchandisecosting$3,500for$6,000onaccount.Credittermswere2/10,n/30.Letspreparethejournalentries.,P2,4-29,SalesDiscounts销售折扣,OnJune17,BartonCo.receivedacheckfor$5,880infullpaymentoftheJune8sale.,P2,4-30,SalesReturns&Allowances销售退回与折让,OnJune12,BartonCo.soldmerchandisecosting$4,000for$7,500onaccount.Thecredittermswere2/10,n/30.,P2,4-31,SalesReturns&Allowances销售退回与折让,OnJune14,merchandisewithasalespriceof$800andacostof$470wasreturnedtoBarton.ThereturnisrelatedtotheJune12sale.,P2,4-32,SalesReturns&Allowances销售退回与折让,OnJune20,BartonreceivedtheamountowedtoitfromthesaleofJune12.,P2,4-33,LetscompletetheaccountingcyclebypreparingtheclosingentriesforBarton,C4,4-34,Step1:CloseCreditBalancesinTemporaryAccountstoIncomeSummary,P3,4-35,Step2:CloseDebitBalancesinTemporaryAccountstoIncomeSummary,P3,4-36,Step3:CloseIncomeSummarytoRetainedEarnings,P3,4-37,Step4:CloseDividendstoRetainedEarnings,P3,4-38,Multiple-StepI/S,P4,4-39,Single-StepIncomeStatement,P4,4-40,ClassifiedBalanceSheet,P4,4-41,TwoAlternativeInventoryAccountingSystems两种存货核算制度-collectinformationaboutCOGSandcostofinventory,Perpetualinventorysystem-永续盘存制ContinuallyupdateaccountingrecordsformerchandisingtransactionsRecordsofinventoryavailableforsaleandinventorysoldPeriodicinventorysystem-定期盘存制Updateaccountingrecordsonlyattheendofaperiod,PeriodicInventorySystem,Duringtheperiod,theMerchandiseInventorybalanceremainsunchangedbeginningbalance,onlyupdatedattheendoftheperiod.Duringtheperiod,thecostofmerchandiseisrecordedinatemporary