Chapter 3 balance sheet会计英语 第三章 资产负债表.ppt

Termsandconcepts,Chapter3,1.AnothernameforthebalancesheetisStatementofOperationsStatementofFinancialPositionStatementofFinancialCondition2.ThebalancesheetheadingwillspecifyaPeriodoftimePointintime3.Thelengthoftimebetweenfinancialreportsisafiscalperiodorfiscalyear.,1.Thebalancesheetpresentsaflowingpictureofthecompanysfinancialpositionataspecifictime.2.Tangibleassetshavenophysicalexistence,buttheydohavevaluethatmaybringthebusinesshugeprofits.3.Acompanythatborrowsmoneyfromanexternalpartyiscalledacreditor.4.Long-termliabilitiesareobligationsthatabusinessdoesnotexpecttoliquidatewithinthenormaloperatingcycleoroneyear.5.Retainedearningsreferstothebusinessscumulativenetincomes.,Trueorfalse?,Fillintheblankswiththeproperwords.1.Cashincludesbankdeposits,currency,coin,checks,bank_,andmoney_,etc.2.Accountsreceivableareowedbyacustomerforsalesofservicesormerchandise_andare_bycustomerstopayinthefuture.3.Whenasumofmoneyisborrowedbythefirm,a_isincurred.4.Ownersequityisa_claimbecausetheclaimsofthe_legallycomefirst.5.Decreasesoftheownersequityarecausedintwoways:_ofcashand_fromunprofitableoperation.6.Abalancesheetsetsforthtwomajorpartsinitsformat:_and_ofthestatement.,Selfstudy,StudythisSoundandLightbalancesheetandanswerthefollowingquestionsaboutthecompanysfinancialcondition.1.Istheenterprisesoundlyfinanced?2.Cantheenterprisepayitsbillsontime?3.Shouldtheownersdeclarethemselvesadividend?Ifso,howlargeshoulditbe?,OralTask,5,SoundandLightPtyLtdBalancesheetasatJune301997(inthousandsofdollars),Assets$CurrentassetCash50Accountsreceivable75Inventory120245Non-currentassetsLand100Factory272Accumulateddepreciation(122)250Total495Liabilitiesandequity$CurrentliabilitiesBankoverdraft30Accountspayable73103Non-currentliablilitiesLandmortgage87ShareholdersequitySharecapital130Retainedprofits175305Total495,P51-3.2.3businessenterprises,subdivisionsofownersequity,Theownerwithdrawsbusinessassetsforpersonaluse.,Supplementaryexercisesforweek8,SoftbyteStatementofOwnersEquityforthemonthendedSeptember30,2002M.Doucet,Capital,September1$Add:Investments$15,000Netincome2,75017,750$17,750Less:Drawings1,300MDoucet,CapitalSeptember30$16,450,FlashyFashionsPtyLtdisasmallcompanyinacoastaltown.Itrentsitspremisesanditssalesarealloncredit.Ithasonlythreeexpenses:costofgoodssold,rent,andincometax.Attheendofitspreviousfinanicalyear,30September2006,Flashysbalancesheetwasasfollows.,practice-FlashyFashionsPtyLtd,Duringtheyearended30September2007,thefollowinginformationwasrecordedinthecompanysaccounts:revenuefromcreditsales$10000collectionsfromcustomers$9600purchasesofinventoryforsale$6100paymentstosuppliers$6300costofgoodssold$6400rentchargedbythelandlord$2400rentpaidtothelandlord$2900incometaxpayablefortheyear$350cashdividendsdeclaredandpaidtotheshareholders$450,practice-transactionsinMay,Creditsalesof$xxx.Thecostofthegoodssoldwas$xxx.Paidaccountspayableof$xxx.Purchasedadditionalinventoryfor$xxx.Fivestaffattendedaseminaronunderstandingfinancialstatements.Thetotalbillreceivedwasfor$xxx.Received$xxxforanaccountreceivable.Ofthegoodspurchasedon6May,goodswhichcost$xxxwerereturnedtothesupplierastheyweredamaged.,7.Alocalelectriciancarriedoutrepairs.Achequefor$xxxwaspaidtotheelectrician.8.Cashsalesof$xxx.costofgoodssold$xxx.9.Purchasedlandfor$xxxcashandobtainedabankloanof$yyy.Thebankholdsafirstmortgageovertheland.10.Paidthemonthlywagesbill