会计学原理英文教案AccountingforMerchandisingOperations
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Examples: Accounting firms, law firms and plumbing services
Revenues
Minus
Equals Expenses
Net income
McGraw-Hill/Irwin
Slide 2
C1
MERCHANDISING ACTIVITIES
Merchandising Companies
Manufacturer
Wholesaler
Retailer
Customer
McGraw-Hill/Irwin
Slide 3
C1
REPORTING INCOME FOR A
MERCHANDISER
Merchandising companies sell products to earn revenue.
Cash Sale
Purchases
Credit Sale
Cash collection
Purchases
Cash sales
Account receivable
Merchandise inventory
McGraw-Hill/Irwin
Merchandise inventory
Credit sales
For Year Ended December 31, 2009
McGraw-Hill/Irwin
Net sales Cost of goods sold Gross profit Operating expenses Net income
$ 150,000 80,000
$wk.baidu.com70,000 46,500
Slide 5
C3
INVENTORY SYSTEMS
Beginning inventory
+
Net cost of purchases
= Merchandise available for sale
Ending inventory
McGraw-Hill/Irwin
+
Cost of goods sold
Freight FOB Destination
ViaSFheipdExGoods
Item AC417
Description 250 Backup System
On November 2, Z-Mart purchased $1,200 of merchandise inventory for cash.
Nov 2
Merchandise Inventory Cash
Purchase merchandise for cash
Dr. 1,200
Cr. 1,200
product Racer. Each Racer has a list price of $5.25.
McGraw-Hill/Irwin
Quantity sold Price per unit Total Less 30% discount Invoice price
1,000 $ 5.25
5,250 (1,575) $ 3,675
Slide 9
P1
Invoice
Main Source, Inc.
Invoice
614 Tech Avenue Nashville, TN 37651
S o l d
T
o
Date
5/4/09
Number 358-BI
Name: Barbee, Inc.
Attn: Tom Bell
Address: One Willow Plaza
accounting records relating to merchandise transactions are updated only at the end of the accounting period
McGraw-Hill/Irwin
Slide 7
P1
MERCHANDISE PURCHASES
Slide 6
C3
PERPETUAL AND PERIODIC
INVENTORY SYSTEMS
Perpetual systems
continually update accounting records for merchandising transactions
Periodic systems
ACCOUNTING FOR MERCHANDISING OPERATIONS
Chapter 5
© 2009 The McGraw-Hill Companies, Inc.,
SERVICE COMPANIES
Service organizations sell time to earn revenue.
Examples: sporting goods, clothing, and auto parts stores
Net Sales
Minus
Cost of Equals
Goods Sold
Gross Profit
Minus
Expenses
Equals Net
Income
Merchandising Company Income Statement
McGraw-Hill/Irwin
Slide 8
P1
TRADE DISCOUNTS
Used by manufacturers and wholesalers to offer better prices for greater quantities purchased.
Example
Z-Mart offers a 30% trade discount on orders of 1,000 units or more of their popular
Cookeville, Tennessee
38501
Seller Invoice date Purchaser Order date Credit terms Freight terms
P.O. Date Salesperson 4/25/2009 #25
Terms 2/10,n/30
$ 23,500
Slide 4
C2
OPERATING CYCLE FOR A
MERCHANDISER
Begins with the purchase of merchandise and ends with the collection of cash from the
sale of merchandise.
Revenues
Minus
Equals Expenses
Net income
McGraw-Hill/Irwin
Slide 2
C1
MERCHANDISING ACTIVITIES
Merchandising Companies
Manufacturer
Wholesaler
Retailer
Customer
McGraw-Hill/Irwin
Slide 3
C1
REPORTING INCOME FOR A
MERCHANDISER
Merchandising companies sell products to earn revenue.
Cash Sale
Purchases
Credit Sale
Cash collection
Purchases
Cash sales
Account receivable
Merchandise inventory
McGraw-Hill/Irwin
Merchandise inventory
Credit sales
For Year Ended December 31, 2009
McGraw-Hill/Irwin
Net sales Cost of goods sold Gross profit Operating expenses Net income
$ 150,000 80,000
$wk.baidu.com70,000 46,500
Slide 5
C3
INVENTORY SYSTEMS
Beginning inventory
+
Net cost of purchases
= Merchandise available for sale
Ending inventory
McGraw-Hill/Irwin
+
Cost of goods sold
Freight FOB Destination
ViaSFheipdExGoods
Item AC417
Description 250 Backup System
On November 2, Z-Mart purchased $1,200 of merchandise inventory for cash.
Nov 2
Merchandise Inventory Cash
Purchase merchandise for cash
Dr. 1,200
Cr. 1,200
product Racer. Each Racer has a list price of $5.25.
McGraw-Hill/Irwin
Quantity sold Price per unit Total Less 30% discount Invoice price
1,000 $ 5.25
5,250 (1,575) $ 3,675
Slide 9
P1
Invoice
Main Source, Inc.
Invoice
614 Tech Avenue Nashville, TN 37651
S o l d
T
o
Date
5/4/09
Number 358-BI
Name: Barbee, Inc.
Attn: Tom Bell
Address: One Willow Plaza
accounting records relating to merchandise transactions are updated only at the end of the accounting period
McGraw-Hill/Irwin
Slide 7
P1
MERCHANDISE PURCHASES
Slide 6
C3
PERPETUAL AND PERIODIC
INVENTORY SYSTEMS
Perpetual systems
continually update accounting records for merchandising transactions
Periodic systems
ACCOUNTING FOR MERCHANDISING OPERATIONS
Chapter 5
© 2009 The McGraw-Hill Companies, Inc.,
SERVICE COMPANIES
Service organizations sell time to earn revenue.
Examples: sporting goods, clothing, and auto parts stores
Net Sales
Minus
Cost of Equals
Goods Sold
Gross Profit
Minus
Expenses
Equals Net
Income
Merchandising Company Income Statement
McGraw-Hill/Irwin
Slide 8
P1
TRADE DISCOUNTS
Used by manufacturers and wholesalers to offer better prices for greater quantities purchased.
Example
Z-Mart offers a 30% trade discount on orders of 1,000 units or more of their popular
Cookeville, Tennessee
38501
Seller Invoice date Purchaser Order date Credit terms Freight terms
P.O. Date Salesperson 4/25/2009 #25
Terms 2/10,n/30
$ 23,500
Slide 4
C2
OPERATING CYCLE FOR A
MERCHANDISER
Begins with the purchase of merchandise and ends with the collection of cash from the
sale of merchandise.