Lesson Three Liabilities and Owner’s Equity Section of.ppt

1,LessonThreeLiabilitiesandOwnersEquitySectionofBalanceSheet,LearningObjectives1.UnderstandtheBasicAccountingElementLiabilityandMemorizeItsClassification2.DefinetheOwnersEquity3.UnderstandthePrincipalDifferencesfortheThreeFormsofBusinessOrganizationswhichappearintheOwnersEquitySection,2,NewWords,PhrasesandSpecialTerms,Liability释义：责任，义务;妨碍，不利；负债例句:Ifyourliabilitiesexceedyourassets,youmaygobankrupt.同义词：obligationClaim释义:n.(根据权利的）要求;例句:They(liabilitiesorcreditorsequity)thereforerepresentcreditorsclaimonanorganizationsassets.Payable释义:adj.可付的，应付的搭配词组:notespayable,accountspayable,accruedsalariespayable,Incometaxpayable,propertytaxpayable,mortgagepayable,bondspayable,dividendpayable,3,Discharge释义:履行；清偿；卸货；解雇例句：Hehasdischargedhisdebts.Shedischargedalltheresponsibilitiesofaministerconsciously.Thebossdischargedherbecauseofherabsence.SoleProprietorshipprprait.ip释义：独资同类词：Partnership,CorporationStateCorporationLaw释义:州公司法Segregate释义:adj.分离的，被隔离的；v.分离，隔离同义词：isolate,separate,insulate例句:Corporationlawsinmanycountriesrequirethecorporationssegregate,intheirbalancesheets,thecapitalstockandanyretainedearnings.许多国家的公司法要求公司在其资产负债表中把股本和留存收益分开（列示）。,4,Comparable释义:adj.可比的，类似的例句:Hishandwritingisnotbad,butitshardlycomparablewithyours.同义词：alike,like,similar,parallel,uniform,identicalLegalRestrictions释义：法律约束其他搭配:legalperson、legalentity、legalaction、legalageWithdraw释义:adj.提取；收回，撤回，撤销例句1：Theownersmayfromtimetotimewithdrawmoneyorpropertyfromtheorganizationforpersonaluse例句2：IwanttowithdrawastatementImadeearlier.,5,Engagein释义：从事，参与例句1：Ihavenotimetoengageingossip.例句2：Theownersmayfromtimetotimewithdrawmoneyorpropertyfromtheorganizationforpersonaluseortoengageinotherbusinessactivities.Discretiondiskren释义：n.谨慎，判断力，自由决定例句1:Thehoursofthemeetingswillbefixedatthemonitorsdiscretion.例句2:Withdrawalsaremadequiteinformallyattheownersdiscretion.BoardofDirectors释义:董事会例句:Theboardofdirectors,(whichwas)electedbystockholders,mustmeetand“declareadividend”beforeadistributioncanbemadetothestockholders.,6,Eliminateilimineit释义:消除例句:(DeclarationofdividendsreducestheretainedearningsportionoftheownersequityofthecorporationandcreatesaliabilitycalledDividendPayable.)Paymentofthedividendeliminatestheliabilityandreducesassets.NotestotheText课文注释Liabilities,orcreditorsequity,aretheobligations,ordebts,thatthefirmmustpayinmoneyorservicesatsometimeinthefuture.(1)Orcreditorsequity是句中主语liabilities的同位语,ordebts是表语theobligations的同位语。(2)关系代词that引导的限制性定语从句，修饰theobligations.,7,Theownersequityisreferredtoasthenetassetsofthebusiness,whichisdefinedasthedifferencebetweentheassetsandtheliabilities.referto：提到，涉及；查阅，参考；referto(as)指而言修饰thenetassets的定语从句是非限制性的。非限制性定语从句常用关系词which引导,从句前并加“，”。Statecorporationlawsrequirethatcorporationssegregate,intheirbalancesheets,thecapitalstock(ownersinvestment)andanyretainedearnings.主语谓语动词require的宾语是用连词that引导的从句.从句中的谓语动词segregate属祈使语气。,8,BecausetherearenocomparablelegalrestrictionsonSoleproprietorshipsandpartnerships,thesetypesofbusinessesdonothavetodistinguishbetweenamountsinvestedbyownersandundistributedearnings.(1)全句包含一个用连词because引导的原因状语从句。由连词because,for引导,也可由since,as,nowthat等词引导(2)在两件事物间作出区分时，如distinguish作为不及物动词，其后常接用介词between(句中);如作为及物动词，则要写distinguishfrom”,以本句为例，这一不定式短语也可写成todistinguishundistributedearningsfromamountsinvestedbyowners.例句1:Hecandistinguishagenuineantiquefromareproduction.例句2:Itiscertainlyimportanttodistinguishbetweenrightandwrong.,9,Theboardofdirectors,electedbythestockholders,mustmeetand“declareadividend”beforeadistributioncanbemadetothestockholders.(1)全句包含一个用连词before引导的时间状语从句。常用引导词:when,while,as,assoonas,after,since,till,until例句1：Shesmiledasshestoodup.例句2：Webegantoworkassoonaswegotthere。(2)过去分词短语electedbythestockholders修饰主句主语theboardofdirectors,因是非限制性定语，故用“，”分开。,10,LiabilitiesandOwnersEquity,DefinitionofLiabilities:Liabilities,orcreditorsequity,aretheobligations,ordebts,thatthefirmmustpayinmoneyorservicesatsometimeinthefuture.Theythereforerepresentcreditorsclaimonanorganizationsassetsandarelistedintheorderthattheycomedue.Classification:CurrentLiabilities；Long-termLiabilities,11,CurrentLiabilities,Examples:accountspayable,应付账款accruedwagesandsalariespayable,应计未付工资salesandexcisetaxespayable,应付销售税及消费税incomeorpropertytaxespayable,应付所得税及财产税,12,short-termnotespayable,短期应付票据dividendpayable,应付股利estimatedoraccruedliabilities,估计或应计的负债theportionoflong-termdebtduewithinoneyear长期负债中将在下一年度内到期的部分thevariouspayrolltaxesliabilities,各种应付工薪税,13,Liabilities,Text,Text,14,Ownersequityisalsocallednetassetsornetworth.,15,Transactions,AssumethatonNovember1,2009,ChrisClarkbeginsabusinessthatwillbeknownasNetSolutions.EachtransactionduringNetSolutionsfirstmonthofoperationsisdescribedinthefollowingparagraphs.Theeffectofeachtransactionontheaccountingequationisthenshown.,16,TransactionA,17,TransactionB,18,Thistypeoftransactioniscalledapurchaseonaccount.Theliabilitycreatedbyapurchaseonaccountiscalledanaccountpayable.Itemssuchassuppliesthatwillbeusedinthebusinessinthefuturearecalledprepaidexpenses,whichareassets.,Nov.10,2009NetSolutionspurchasedsuppliesfor$1,350andagreedtopaythesupplierinthenearfuture.,TransactionC,19,Abusinessearnsmoneybysellinggoodsorservicestoitscustomers.Thisamountiscalledrevenue.,Nov.18,2009NetSolutionsreceivedcashof$7,500forprovidingservicestocustomers.,TransactionD,20,Assetsusedinthisprocessofearningrevenuearecalledexpenses.,Nov.30,2009NetSolutionspaidthefollowingexpensesduringthemonth:wages,$2,125;rent,$800;utilities,$450;andmiscellaneous,$275.,TransactionE,21,Withdrawalsdonotrepresentassetsorservicesusedintheprocessofearningrevenues.Instead,withdrawalsareadistributionofcapitaltotheowner.OwnerwithdrawalsareidentifiedbytheownersnameandDrawing.,Nov.30,2009ChrisClarkwithdrew$2,000fromNetSolutionsforpersonaluse.,TransactionF,22,SalvoDeliveryServiceisownedandoperatedbyJoelSalvo.ThefollowingselectedtransactionswerecompletedbySalvoDeliveryServiceduringFebruary:1.Receivedcashfromownerasadditionalinvestment,$35,000.2.Paidcreditorsonaccount,$1,800.3.Billedcustomersfordeliveryservicesonaccount,$11,250.4.Receivedcashfromcustomersonaccount,$6,740.5.Paidcashtoownerforpersonaluse,$1,000.,Indicatetheeffectofeachtransactionontheaccountingequationelements(Assets,Liabilities,OwnersEquity,etc)bylistingthenumbersidentifyingthetransactionsAlso,indicatethespecificitemwithintheaccountingequationelementthatisaffected.,23,Asset(Cash)increasesby$35,000;OwnersEquity(JoelSalvo,Capital)increasesby$35,000(2)Asset(Cash)decreasesby$1,800;Liability(AccountsPayable)decreasesby$1,800.(3)Asset(AccountsReceivable)increasesby$11,250;Revenue(DeliveryServiceFees)increasesby$11,250.(4)Asset(Cash)increasesby$6,740;Asset(AccountsReceivable)decreasesby$6,740.(5)Asset(Cash)decreasesby$1,000;Drawing(JoelSalvo,Drawing)increasesby$1,000.,24,Principaldifferencesfordifferentformsofbusinessorganization,25,SoleProprietorship,Partnership,Corporation,Thethreeformsofbusinessorganizations,26,Ownersofacorporationarecalledshareholders(orstockholders).Whenacorporationissuesonlyoneclassofstock,wecallitcapitalstock.,Corporation,27,Proprietorships,Whataresomeadvantages?-totalundividedauthority-norestrictionsontypeofbusinessmustbelegal,Whataresomedisadvantages?-unlimitedliability（无限责任）-limitationonsizefundraisingpower（规模有限，融资能力受限）,28,Partnerships,Whataresomeadvantages?-bettercreditstandingpossibly-morebrainpower,butconsultationwithpartnersrequired,Whataresomedisadvantages?-unlimitedpersonallia