会计学原理-约翰·J·怀尔德版-上海交通大学-09
约翰怀尔德 会计学原理
约翰怀尔德会计学原理全文共四篇示例，供读者参考第一篇示例：约翰怀尔德（John Wild）是一位著名的会计学家，他对会计学原理的研究和贡献被广泛认可。
他在他的著作中系统地探讨了会计学的基本原理和理论，帮助人们更好地理解和应用会计学知识。
会计学原理是会计学的基础，是会计科学的根本。
约翰怀尔德在他的著作中详细阐述了会计学原理的重要性，并提出了许多深刻的见解。
他指出，会计学原理是指导会计学实践的准则和规则，其作用是维护会计学的准确性、可靠性和公正性。
在他的著作中，约翰怀尔德强调了会计学原理在企业经营管理中的重要性。
他认为，只有建立在正确的会计学原理基础之上的会计信息才能为企业决策提供准确的参考。
他还指出，遵循正确的会计学原理可以帮助企业提高内部管理效率，加强企业的风险控制能力，提高企业的经营绩效。
约翰怀尔德的著作对会计学原理的研究和理解做出了重要贡献。
他的思想为会计学界和企业管理者提供了宝贵的启示，对促进会计学的发展和提升会计学的实践水平具有重要意义。
希望更多的人可以关注会计学原理的研究，深入理解和应用约翰怀尔德等会计学家的研究成果，为企业的可持续发展和社会的进步做出更大的贡献。
第二篇示例：约翰·怀尔德是一位著名的会计学家，他对会计学原理的研究和贡献被誉为经济学领域的里程碑之一。
怀尔德的研究不仅深刻地影响了当代会计学的发展，也为未来的学者们提供了重要的启示。
本文将对怀尔德的会计学原理进行介绍和分析。
怀尔德认为，会计学原理是会计学的基础，是会计学家应该遵循的核心准则。
在怀尔德看来，会计学原理主要包括：货币计量、持续经营、历史成本、收入确认、费用匹配等几个方面。
这些原则不仅是会计师在日常工作中的行为准则，也是保障会计信息质量和经济运作有序的重要基础。
货币计量原则是指所有的财务信息应该用货币单位进行衡量和记录。
怀尔德认为，货币单位是衡量财务状况和经营业绩的唯一标准，只有将所有的资产、负债、收入和支出都转化为货币单位，才能使这些信息具有可比性和可信度。
会计学原理(第23版)投资和国际经营
学习目标 P2:持有至到期投资的会计处理
25
NEED-TO-KNOW 13-2
编制日记账分录以记录以下涉及短期投资的交易。 a.5月15日,支付$100现金购买起始日为5月15日的Muni公司120天短期债权证券(本金为 $100),利率为6% (归类为持有至到期投资)。 b.9月13日,收到了Muni公司的一张支票,用于支付本金和交易a中购买的债权证券的120天 利息。
短期 (S-T) 和长期(L-T) 投资在其总资产中所占 的百分比
图表13-1 选定的几家公司的投资情况
5 学习目标 C1:区分债权证券与权益证券,短期投资与长期投资
短期投资
短期投资: • 管理层准备在一年内或企业长于一年的一个经 营周期内将其转换成现金。 • 很容易就能转换成现金。
短期投资不包括现金等价物。 现金等价物是指既容易转换为确定金额的现金又在 三个月内到期的投资。
2017
普通日记账
12月15日 短期投资 – 交易性金融资产
现金
12月28日 现金 股利收入
短期投资 – 交易性金融资产 12月15日 130
借方 130
贷方 130
15 15
20 学习目标 P1:交易性金融资产的会计处理
NEED-TO-KNOW 13-1
Berkshire公司在2017年12月15日以$130的价格购买了交易性金融资产。(这是其第一次 也是唯一一次购买此类证券。)12月28日,Berkshire公司从12月15日购买的股票中获得 了$15的现金股利。截至2017年12月31日,该交易性金融资产的公允价值为$140。 a.为交易性金融资产的投资组合编制12月15日的收购分录。 b.为交易性金融资产的投资组合编制12月28日的现金股利分录。 c.为交易性金融资产的投资组合编制12月31日的年末调整分录。
会计学原理-约翰·J·怀尔德版-上海交通大学-04
FastForward Work Sheet For Month Ended December 31, 2007 Unadjusted
Trial Balance Dr. Cr. 4,350 9,720 2,400 26,000 Adjustments Dr. Cr. f 1,800 b a c e 250 1,050 100 375 210
Cash Accounts receivable Supplies Prepaid insurance Equipment Accum. depr. - Equip. Accounts payable Salaries payable Unearned consulting revenue C. Taylor, Capital C. Taylor, Withdrawals Consulting revenue Rental revenue Depr. expense Salaries expense Insurance expense Rent expense Supplies expense Utilities expense Totals Net income
会计学原理-约翰·J·怀尔德版-上海交通大学-11
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Analytical Learning Objectives
A1: Compute the times interest earned（收入利 息比） ratio and use it to analyze liabilities
Uncertainty in When to Pay
Uncertainty in How Much to Pay
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
C2
Known (Determinable) Liabilities
Accounts Payable Sales Taxes Payable
C1
Current and Long-Term Liabilities
Current Liabilities as a Percent of Total Liabilities
Raw lings Sporting Goods Apple Computer AMF Bow ling Cannondale
McGraw-Hill/Irwin
Expected not to be paid within one year or the company’s operating cycle, whichever is longer.
© The McGraw-Hill Companies, Inc., 2007
$20,000 × 6% × (90 ÷ 360) = $300
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
怀尔德会计学原理第21版课后习题答案SMChap012
怀尔德会计学原理第21版课后习题答案SMChap012第12章课后习题答案12.1 问题回顾1. 在现代企业管理中，有哪些主要类型的财务会计信息用户？答：主要类型的财务会计信息用户包括内部管理层、外部投资者、债权人、监管机构和其他利益相关者等。
2. 财务报表是通过哪种组织结构来提供财务会计信息的？答：财务报表是通过资产负债表、利润表、现金流量表和股东权益变动表等组织结构来提供财务会计信息的。
3. 资产负债表的目的是什么？相关的主要问题是什么？答：资产负债表的目的是展示企业在特定日期的资产、负债和股东权益的情况。
相关的主要问题包括：企业拥有哪些资源？谁向企业提供了这些资源？企业如何使用这些资源？4. 利润表的目的是什么？相关的主要问题是什么？答：利润表的目的是展示企业在特定期间的收入、费用和净利润等情况。
相关的主要问题包括：企业从哪些业务活动中获取了收入？企业的费用总额是多少？企业的净利润是多少？5. 现金流量表的目的是什么？相关的主要问题是什么？答：现金流量表的目的是展示企业在特定期间的现金流量情况。
相关的主要问题包括：企业的现金流入和流出分别来自于哪些活动？企业的净现金流量是多少？12.2 简答题1. 请简要介绍一下资产负债表。
答：资产负债表是一份会计报表，用于展示企业在特定日期的资产、负债和股东权益的情况。
资产负债表的核心思想是资产=负债+股东权益，即企业的资金来源必须等于资金的运用。
资产负债表通常分为两个部分：资产部分和负债和股东权益部分。
资产部分展示了企业拥有的资源，包括现金、应收账款、固定资产等；而负债和股东权益部分则展示了企业所欠债务和股东的权益。
通过资产负债表，用户可以了解企业的财务状况和资金运用情况。
2. 请简要介绍一下利润表。
答：利润表是一份会计报表，用于展示企业在特定期间的收入、费用和净利润等情况。
利润表的核心思想是收入-费用=净利润，即企业从业务活动中获取的收入减去费用后得到的净利润。
会计学原理-约翰·J·怀尔德版-上海交通大学-06培训课件
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Procedural Chapter Objectives
P1: Compute inventory in a perpetual system using the methods of specific identification, FIFO, LIFO, and weighted average
Buyer
© The McGraw-Hill Companies, Inc., 2007
C1 Goods on Consignment
Merchandise is included in the inventory of the consignor, the owner of the inventory.
A2: Analyze the effects of inventory errors on current and future financial statements
A3: Assess inventory management using both inventory turnover and days’ sales in inventory
会计学原理-约翰·J·怀尔德版-上 海交通大学-06
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Analytical Chapter Objectives
A1: Analyze the effects of inventory methods for both financial and tax reporting
会计学原理-约翰·J·怀尔德版-上海交通大学幻灯片PPT
PPT
McGraw-Hill/Irwin
本课件PPT仅供大家学习使用 学习完请自行删除，谢谢！ 本课件PPT仅供大家学习使用 学习完请自行删除，谢谢！
© The McGraw-Hill Companies, Inc., 2007
课程要求--教材与辅助资料
The primary external users of financial information are investors and creditors.
Return on Inve s tme nt
Return of Inve s tme nt
教材
Fundamental Accounting Principles (18 edition), John Wild, Kermit Larson and Barbara Chiappetta, McGraw Hill
会计学原理 〔第18版〕， 约翰.J.怀尔德, 克米特.D.拉森, 巴巴拉.基亚佩塔 著, 崔学刚, 饶菁 改编, 中国人民大学出版社
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Accounting Information and Stock Price
Best Buy Co. Inc Fiscal Quarter (Feb,11 – May, 10, 2021) Quarterly Earnings Announcement: June
Accountin g
Informatio
of their decisions.
n
Actions (decisions)
《会计学原理》课程指导手册2014
《会计学原理》课程学习指导手册课程组：于而立程仲鸣李健黄小阳2014年2月22日《会计学原理》课程改革教学大纲《会计学原理》课程改革教学大纲（Basic Accounting）一、课程基本情况课程代码：012108001M课程名称：《会计学原理》先修课程：管理学授课对象：工商类本科专业课程负责人：于而立授课教师：于而立程仲鸣李健黄小阳学时：64学分：4理论讲课学时：54小班讨论学时：10学时自学学时：36学时课外学时：48学时实验学时（另外安排专项实验）：32学时教材名称及主编姓名：《基础会计》，陈国辉、迟旭升主编辅助教材：《基础会计习题与案例》二、课程的性质、目的与任务《基础会计学》是会计学本科专业的一门专业基础课，是学习其他会计学科的起点，是会计学入门的向导。
通过本课程的学习，使学生了解会计的基本理论，掌握会计的基本知识和基本技能，同时为后续专业课程的学习以及今后从事会计工作打下良好的基础。
三、课程内容的基本要求第1章概论[教学目的和要求]本章主要阐述现代会计、会计目标、要素、会计职能作用，会计准则等概念，初步建立现代会计基本概念体系，从而具备会计入门的基本理论和基本知识。
教学的基本要求是：了解：会计的产生和发展，以及会计的基本职能和作用，会计学科体系及其分支，一般了解会计的基本方法及方法体系，初步了解会计工作特别是会计核算工作的基本程序；理解：现代会计的基本涵义、目标和一般内容，以及进行会计工作的基本准则；掌本章主要阐述现代会计、会计目标、要素、会计职能作用，会计准则等概念，初步建立现代会计基本概念体系，从而具备会计入门的基本理论和基本知识。
教学的基本要求是：了解：会计的产生和发展，以及会计的基本职能和作用，会计学科体系及其分支，一般了解会计的基本方法及方法体系，初步了解会计工作特别是会计核算工作的基本程序；理解：现代会计的基本涵义、目标和一般内容，以及进行会计工作的基本准则；掌握：各个会计要素的基本涵义，掌握主要要素项目，以及各个会计要素之间的互相联系。
会计学本科专业课程简介
课程编号：051013 课程名称：《微观经济学》课程类别：学科基础课先修课程：微积分课程简介：本课程讲授微观经济学基本原理，包括供求理论、消费者行为理论、生产理论、成本理论、厂商理论生产与分配理论，市场结构和政府对校正“市场失败”的作用。
教材名称：《微观经济学》教材主编：费剑平出版社：首都经贸主要参考书目：经济学原理——微观经济学（上册）（第6版）[美]凯斯/菲尔/ 高级微观经济学(张军主编)课程编号：051014 课程名称：《宏观经济学》课程类别：学科基础课课程简介：经济活动的衡量、国民收入的决定、就业与委托人、宏观财政政策与宏观货币政策、经济增长、宏观经济学流派及论战。
教材名称：宏观经济学教材主编：梁东黎出版日期：2003-05-01 出版社：南京大学主要参考书目：高级宏观经济学上海财大大卫·罗默2002-10-01 / 高级宏观经济学（影印本）上海财大David Romer课程编号：051021 课程名称：《管理信息系统》课程类别：学科基础课课程简介：本课程讲授管理信息系统学科及专业概论：MIS专业的发展史及其特点，培养目标及专业方向、知识及能力结构；MIS原理初步：MIS的概论、结构开发方法论等；MIS开发初步：主要是系统规划和分析；国家信息化形势及任务。
教材名称：管理信息系统（第三版）教材主编：薛华成出版社：清华大学主要参考书目：管理信息系统（附光盘1片）（第二版）高教黄梯云主编高教司组编管理信息系统—网络化企业的组织与技术（第六版影印版）高教Kenneth udon课程编号：051015 课程名称：《管理学》课程类别：学科基础课课程简介：介绍管理学特别是企业管理的基本概念、基本知识，介绍基本的现代管理理念、方法和手段，为广大同学继续学习管理类课程及解决现实管理问题服务。
教材名称：《管理学原理》教材主编：周建临出版社：上海财大主要参考书目：管理学原理南京大学(陈传明邹宜民)2003-03-01 / 管理学原理高教刘松柏主编课程编号：051016 课程名称：《财政学》课程类别：学科基础课先修课程：微观经济学课程简介：财政学是一门应用经济学，即公共部门或政府部门经济学研究政府部门如何履行职能和高效率提供公共产品和公共服务的行为。
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会计专业本章主题会计原则会计概念财务报表比率分析管理会计会计是商业的通用语言。
公司需要把整个公司的经营结果公诸社会。
对公司经营情况感兴趣的人包括公司的雇员、投资者、债权人、客户、供货商和公司所在社区的各界人士。
在公司内部，会计方面的有关信息能为你提供控制、评估和安排生产的方法。
无论会计的听众或观众是谁，也无论它起着什么作用，实际上会计就是数字(Numbers)。
会计师们“数豆子”，把公司经营业务的情况记录下来，综合在一起，并对之进行分析。
教授人总忘不了提醒你，会计师的存在由来久远。
以前，会计师负责掌管大家在地窖里存放着的粮食。
所罗门国王怎么会知道干旱时，粮食还只够再用30天的呢？那是会计师告诉他的。
随着时代的进步，会计师们也从最初的靠掰手指头、用算盘计数，发展到今天用计算器统计数据。
会计研究的问题现在已不再是亲自数一数存放的粮食有多少了。
它是一门研究和回答下述商业活动的基本问题的科学：公司拥有什么财产？公司欠别人多少债务？公司的经营状况如何？公司如何筹措资金维持经营？公司所有的活动最终都要以金钱来衡量。
这也是为什么不管喜欢与否，你都需要会计。
虽然这一领域显得乏味，但为了在商界站稳脚跟，你最好还是具备些实用的会计知识。
知识就是力量，而身为MBA，当然更应了解会计原理及其作用。
更为重要的是，在决策过程中应能搜集、利用适用的会计信息。
具备一些会计方面知识的律师，能够读懂财务报表，并从中找到有用的材料。
这对问题的解决能起到很大的帮助。
由于雇员的工作成绩也都是以会计数据来统计衡量的，所以，具备会计知识是非常必要的。
当然，MBA们学习会计的目的并非一定要成为通晓复杂会计原则的专家。
所以，我这里向你只介绍最基本的概念，而不是把你培养成为注册会计师(CPA)。
鉴于商业活动的每一环节，包括筹资、经营、销售均需要使用会计师们提供的数据，因此，仔细地阅读本章并掌握基本概念是非常重要的。
GAAP原则会计中有数不清的原则，别试图将所有的原则都记住，但你应当对这些原则非常熟悉，以便和CPA们沟通。
会计学原理第一章
山东经济学院会计学院
填制和审核凭证
山东经济学院会计学院
山东经济学院会计学院
登记账簿
山东经济学院会计学院
成本计算 成本计算是按照一定对象归集各个经营过程中发 生的费用，从而确定各对象的总成本和单位成本 的方法。
山东经济学院会计学院
▪ 审计：作为独立第三方，代表小股东来监督管 理层；
• 审计的价值：多一层保护；
山东经济学院审
信 息
财务 管理
计
使 用
管理 会计
者
会计师事务所
山东经济学院会计学院
会计学科的发展
❖ 未来经济的发展，会对会计提供新的挑战，当然， 也带来新的机会；
▪ 全球经济一体化：对会计的冲击； ▪ 金融创新与结算模式的变革：对会计的可能影响； ▪ 计算机应用的普及与高智能化：对会计定期报告模
山东经济学院会计学院
❖ 会计学科的最初形态：用于维系信任的一些 简单方法；
▪ 数字 + 组织的控制手段；
❖ 复式簿记：科学的会计方法；
▪ 产生于14、15世纪意大利的银行业； ▪ 适应相对复杂的银行业和商业活动的需要；
❖ 逐渐演变成今天的财务会计；
▪ 特征：面向资本市场普通投资者；遵守一套 公认的会计准则；
山东经济学院会计学院
会计发展史上的第二个里程碑 1854年在苏格兰成立了世界上第一个注册会计师专业团体
——爱丁堡会计师协会，标志着会计的服务对象扩大到整个 社会，它的主要职责就是办理经济活动的公正。会计史学家 认为这是会计发展史上的第二个里程碑。
山东经济学院会计学院
会计发展史上的第三个里程碑 二战以后，会计的变化主要表现在两个方面： •会计同现代电子技术相结合，会计由手写簿记系统发展 为电子数据处理系统； •会计的理论方法分化为两个领域——财务会计和管理会计 会计工作的电算化和两个会计新领域的形成，加速了会计 发展的进程，被认为是会计发展史上的第三个里程碑。
怀尔德会计学原理答案Chapter-03
Chapter 3Adjusting Accounts and Preparing1. The cash basis of accounting reports revenues when cash is received while theaccrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred and matched with revenues they generated.2. The accrual basis of accounting generally provides a better indication of companyperformance and financial condition than does the cash basis. Also, the accrual basis increases the comparability of financial statements from one period to the next.Thus, business decision makers generally prefer the accrual basis.3. Businesses that have major seasonal variations in sales are most likely to select thenatural business year as the fiscal year.4. A prepaid expense is an item paid for in advance of receiving its benefits. As such, itis reported as an asset on the balance sheet.5. Long-term tangible plant assets such as equipment, buildings, and machinery leadto adjustments for depreciation. Generally, land is the only long-term tangible plant asset that does not require depreciation.6. The Accumulated Depreciation contra account is used for depreciation. It providesfinancial statement users with additional information about the relative age of the assets. Without the contra account information, the reader would not be able to tell whether the assets are new or in need of replacement.7. Unearned revenue refers to cash received in advance of providing products andservices. Another name for unearned revenue is deferred revenue. It is reported asa liability on the balance sheet.8. Accrued revenue is revenue that is earned but is not yet received in cash (and/orother assets) and the customer has not been billed prior to the end of the period.Therefore, end-of-period adjustments are made to record accrued revenue.Examples are interest income that has been earned but not collected and revenues from services performed that are neither collected nor billed.9.A If prepaid expenses are initially recorded with debits to expense accounts, then theprepaid expenses asset accounts are debited in the adjusting entries.10. For Best Buy, all of the accounts under the category of Property and Equipment(except for Land), require adjusting entries. The expense related to the depreciation expense account would be understated on the income statement if Best Buy fails to adjust these asset accounts. If the adjusting entries are not made, net income would be overstated. Note: Students might also correctly identify accounts receivable, goodwill, and tradenames as needing adjustment.11. Circuit City must make adjusting entries to Prepaid expenses and other currentassets; Deferred income taxes; Accrued expenses and other current liabilities;Accrued income taxes; and possibly other assets and liabilities such as Receivables for bad debts. (It is also possible that Circuit City would need to adjust Goodwill and Other intangible assets.)12. RadioShack would need to debit interest receivable and credit interest revenue.13. The Accrued Wages Expense would be reported as part of “Accrued Expenses” onCash AccountingRevenues (cash receipts) ...................................................... $52,000Expenses (cash payments: $37,500 - $6,000 + $3,250) ...... 34,750Net income ............................................................................. $17,250 Accrual AccountingRevenues (earned) ................................................................ $60,000Expenses (incurred) .............................................................. 37,500Net income .............................................................................. $22,500 Quick Study 3-2 (10 minutes)a. AE Accrued expensesb. PE Prepaid expensesc. UR Unearned revenuesd. PE Prepaid expenses (Depreciation)e. AR Accrued revenuesa. Debit Unearned Revenue Balance SheetCredit Revenue Earned Income Statementb. Debit Wages Expense Income StatementCredit Wages Payable Balance Sheetc. Debit Accounts Receivable Balance SheetCredit Revenue Earned Income Statementd. Debit Insurance Expense Income StatementCredit Prepaid Insurance Balance Sheete. Debit Depreciation Expense Income StatementCredit Accumulated Depreciation Balance SheetQuick Study 3-4 (15 minutes)a. Insurance Expense ....................................................... 3,000Prepaid Insurance ................................................. 3,000 To record 6-month insurance coverage expired.b. Supplies Expense ......................................................... 4,150Supplies .................................................................. 4,150 To record supplies used during the year.($900 + $4,000 – [?] = $750)Quick Study 3-5 (15 minutes)a. Depreciation Expense—Equipment ............................ 8,400Accumulated Depreciation—Equipment ............. 8,400 To record depreciation expense for the year.($45,000 - $3,000) / 5 years = $8,400b. No depreciation adjustments are made for land asit is expected to last indefinitely.Salaries Expense (400)Salaries Payable (400)To record salaries incurred but not yet paid.[One student earns $100 x 4 days, Mondaythrough Thursday]Quick Study 3-7 (15 minutes)a. Unearned Revenue ........................................................ 22,500Legal Revenue ....................................................... 22,500 To recognize legal revenue earned (30,000 x 3/4).b. Unearned Subscription Revenue ................................ 1,200Subscription Revenue ........................................... 1,200 To recognize subscription revenue earned.[100 x ($24 / 12 months) x 6 months]1. Accrue salaries expense e ga f2. Adjust the Unearned Services Revenue accountto recognize earned revenueb f3. Record the earning of services revenue for whichcash will be received the following periodQuick Study 3-9 (10 minutes)The answer is a.ExplanationThe debit balance in Prepaid Insurance was reduced by $400, implying a $400 debit to Insurance Expense. The credit balance in Interest Payable increased by $800, implying an $800 debit to Interest Expense.The answer is 2.ExplanationInsurance premium errorUnderstates expenses (and overstates assets) by .......... $1,600 Accrued salaries errorUnderstates expenses (and understates liabilities) by .... 1,000The collective effects from this company’s errors follow:Understates expenses by ..................................................... $2,600Overstates assets by ............................................................. $1,600Understates liabilities by ...................................................... $1,000 Quick Study 3-11 (10 minutes)Profit margin = $78,750 / $630,000 = 12.5%Interpretation: For each dollar that records as revenue, it earns 12.5 cents in net income. Miller’s 12.5% is markedly lower than competitors’ average profit margin of 15%—it must improve performance.Quick Study 3-12A (5 minutes)1. B 4. A2. F 5. D3. C 6. EExercise 3-2 (25 minutes)a. Depreciation Expense—Equipment ................................ 16,000Accumulated Depreciation—Equipment..................... 16,000 To record depreciation expense for the year.b. Insurance Expense ........................................................... 5,360Prepaid Insurance* ....................................................... 5,360 To record insurance coverage that expired($6,000 - $640).c. Office Supplies Expense .................................................. 3,422Office Supplies**............................................................ 3,422 To record office supplies used ($325 + $3,480 - $383).d. Unearned Fee Revenue .................................................... 3,000Fee Revenue .................................................................. 3,000 To record earned portion of fee received in advance($15,000 x 1/5).e. Insurance Expense ........................................................... 6,160Prepaid Insurance ......................................................... 6,160 To record insurance coverage that expired.f. Wages Expense ................................................................. 2,700Wages Payable .............................................................. 2,700 To record wages accrued but not yet paid.a. Unearned Fee Revenue .................................................... 5,000Fee Revenue .................................................................. 5,000 To record earned portion of fee received in advance($15,000 x 1/3).b. Wages Expense ................................................................. 7,500Wages Payable .............................................................. 7,500 To record wages accrued but not yet paid.c. Depreciation Expense—Equipment ................................ 17,251Accumulated Depreciation—Equipment..................... 17,251 To record depreciation expense for the year.d. Office Supplies Expense .................................................. 5,682Office Supplies*............................................................. 5,682 To record office supplies used ($240 + $6,102 - $660).e. Insurance Expense ........................................................... 2,700Prepaid Insurance†........................................................ 2,700 To record insurance coverage expired ($4,000 - $1,300).f. Interest Receivable ......................................................... 1,400Interest Revenue ........................................................ 1,400 To record interest earned but not yet received.g. Interest Expense ............................................................. 2,000Interest Payable........................................................... 2,000 To record interest incurred but not yet paid.a. Adjusting entry2009Dec. 31 Wages Expense (825)Wages Payable (825)To record accrued wages for one day.(5 workers x $165)b. Payday entry2010Jan. 4 Wages Expense.......................................................2,475Wages Payable (825)Cash .....................................................................3,300To record accrued and current wages.Wages expense = 5 workers x 3 days x $165Cash = 5 workers x 4 days x $165Exercise 3-5 (15 minutes)a. $ 2,000b. $ 6,607c. $11,987d. $ 1,375Proof: (a) (b) (c) (d) Supplies available – prior year-end ......... $ 350 $1,855 $ 1,576 $1,375 Supplies purchased in current year ........ 2,450 6,307 11,987 6,907 Total supplies available ............................ 2,800 8,162 13,563 8,282 Supplies available – current year-end ..... (800) (6,607) (2,056) (800) Supplies expense for current year........... $2,000 $1,555 $11,507 $7,482a.Apr. 30 Legal Fees Expense ........................................... 4,500Legal Fees Payable ..................................... 4,500 To record accrued legal fees.May 12 Legal Fees Payable ............................................ 4,500Cash ............................................................. 4,500 To pay accrued legal fees.b.Apr. 30 Interest Expense ................................................. 1,900Interest Payable .......................................... 1,900 To record accrued interest expense($5,700 x 10/30).May 20 Interest Payable .................................................. 1,900Interest Expense ................................................. 3,800Cash ............................................................. 5,700 To record payment of accrued and currentinterest expense ($5,700 x 20/30).c.Apr. 30 Salaries Expense ................................................ 4,800Salaries Payable.......................................... 4,800 To record accrued salaries($12,000 x 2/5 week).May 3 Salaries Payable ................................................. 4,800Salaries Expense ................................................ 7,200Cash ............................................................. 12,000 To record payment of accrued andcurrent salaries ($12,000 x 3/5 week).Basis*Basis Basis**Basis Dec. 31, 2007 ........$14,450 $0 2007 ..........$ 850 $15,300 Dec. 31, 2008 ........9,350 0 2008 ..........5,100 0 Dec. 31, 2009 ........4,250 0 2009 .......... 5,100 0 Dec. 31, 2010 ........0 0 2010 .......... 4,250 0$15,300 $15,300 Explanations:*Accrual asset balance equals months left in the policy x $425 per month (monthly cost is computed as $15,300 / 36 months).Months Left Balance12/31/2007 .. 34 $14,45012/31/2008 .. 22 9,35012/31/2009 .. 10 4,25012/31/2010 .. 0 0**Accrual insurance expense equals months covered in the year x $425 per month.Months Covered Expense2007 ............ 2 $ 8502008 ............12 5,1002009 ............12 5,1002010 ............10 4,250$15,300Dec. 31 Accounts Receivable ............................................. 1,980Fees Earned ..................................................... 1,980 To record earned but unbilled fees (30% x $6,600).31 Unearned Fees ........................................................ 4,620Fees Earned ..................................................... 4,620 To record earned fees collected in advance(70% x $6,600).31 Depreciation Expense—Computers ..................... 1,650Accumulated Depreciation-Computers ........ 1,650 To record depreciation on computers.31 Depreciation Expense—Office Furniture ............. . 1,925A ccumulated Depreciation—Office Furniture ... 1,925To record depreciation on office furniture.31 Salaries Expense .................................................... 2,695Salaries Payable.............................................. 2,695 To record accrued salaries.31 Insurance Expense.................................................. 1,430Prepaid Insurance ........................................... 1,430 To record expired prepaid insurance.31 Rent Expense (700)Rent Payable (700)To record accrued rent expense.31 Office Supplies Expense (528)Office Supplies (528)To record use of office supplies.31 Advertising Expense (500)Advertising Payable (500)To record accrued advertising expense.31 Utilities Expense (77)Utilities Payable (77)To record incurred and unpaid utility costs.a. $ 6,039 / $ 52,970 = 11.4%b. $100,890 / $ 471,430 = 21.4%c. $106,880 / $ 301,920 = 35.4%d. $ 67,140 / $1,721,520 = 3.9%e. $ 84,780 / $ 513,800 = 16.5%Analysis and Interpretation: Company c has the highest profitability according to the profit margin ratio. Company c earns 35.4 cents in net income for every one dollar of net sales earned.Exercise 3-10A (30 minutes)a.Dec. 1 Supplies Expense ................................................... 2,000Cash ................................................................. 2,000 Purchased supplies.b.Dec. 2 Insurance Expense ................................................. 1,540Cash ................................................................. 1,540 Paid insurance premiums.c.Dec. 15 Cash ......................................................................... 13,000Remodeling Fees Earned ............................... 13,000 Received fees for work to be done.d.Dec. 28 Cash ......................................................................... 3,700Remodeling Fees Earned ............................... 3,700 Received fees for work to be done.e.Dec. 31 Supplies .................................................................. 1,840Supplies Expense ........................................... 1,840 Adjust expenses for unused supplies.f.Dec. 31 Prepaid Insurance .................................................. 1,200Insurance Expense ......................................... 1,200 Adjust expenses for unexpired coverage($1,540 - $340).g.Dec. 31 Remodeling Fees Earned ..................................... 11,130Unearned Remodeling Fees .......................... 11,130 Adjusted revenues for unfinished projects($13,000 + 3,700 - $5,570).a. Initial credit recorded in the Unearned Fees accountJuly 1 Cash ....................................................................... 2,800Unearned Fees .............................................. 2,800 Received fees for work to be done for Solana.6 Cash ....................................................................... 8,100Unearned Fees .............................................. 8,100 Received fees for work to be done for Haru.12 Unearned Fees ...................................................... 2,800Fees Earned ................................................... 2,800 Completed work for Solana.18 Cash ....................................................................... 7,300Unearned Fees .............................................. 7,300 Received fees for work to be done for Jordan.27 Unearned Fees ...................................................... 8,100Fees Earned ................................................... 8,100 Completed work for customer Haru.31 No adjusting entries required.b. Initial credit recorded in the Fees Earned accountJuly 1 Cash ....................................................................... 2,800Fees Earned ................................................... 2,800 Received fees for work to be done for Solana.6 Cash ....................................................................... 8,100Fees Earned ................................................... 8,100 Received fees for work to be done for Haru.12 No entry required.18 Cash ....................................................................... 7,300Fees Earned ................................................... 7,300 Received fees for work to be done for Jordan.27 No entry required.31 Fees Earned .......................................................... 7,300Unearned Fees .............................................. 7,300 Adjusted to reflect unearned fees for unfinishedjob for Jordan.c. Under the first method (and using entries from a)Unearned Fees = $2,800 + $8,100 - $2,800 + $7,300 - $8,100 = $7,300 Fees Earned = $2,800 + $8,100 = $10,900Unearned Fees = $7,300Fees Earned = $2,800 + $8,100 + $7,300 - $7,300 = $10,9001. I 5. G 9. H2. D 6. C 10. E3. F 7. I 11. H4. B 8. A 12. BProblem 3-2A (35 minutes)Part 1Adjustment (a)Dec. 31 Office Supplies Expense ................................ 12,325Office Supplies ......................................... 12,325 To record cost of supplies used($2,900 + $11,977 - $2,552).Adjustment (b)31 Insurance Expense .......................................... 12,280Prepaid Insurance .................................... 12,280B 290 ($10,440/36 mo.) 9 2,610C 770 ($ 9,240 /12 mo.) 5 3,850Total $12,280Adjustment (c)31 Salaries Expense ............................................. 3,660Salaries Payable....................................... 3,660 To record accrued but unpaid wages(2 days x $1,830).Adjustment (d)Dec. 31 Depreciation Expense—Building ................... 18,875Accumulated Depreciation—Building ... 18,875 To record annual depreciation expense[($800,000 -$45,000) / 40 years = $18,875]Adjustment (e)31 Rent Receivable ............................................ 3,000Rent Earned ........................................... 3,000 To record earned but unpaid Dec. rent.Adjustment (f)31 Unearned Rent .............................................. 5,436Rent Earned ........................................... 5,436 To record the amount of rent earned forNovember and December (2 x $2,718).Part 2Cash Payment for (c)Jan. 6 Salaries Payable ........................................... 3,660Salaries Expense* ........................................ 5,490Cash ....................................................... 9,150 To record payment of accrued andcurrent salaries. *(3 days x $1,830)Cash Payment for (e)15Cash ............................................................... 6,000Rent Receivable .................................... 3,000Rent Earned ........................................... 3,000 To record past due rent for two months.Part 2Adjustment (a)Dec. 31 Insurance Expense ...............................................3,000Prepaid Insurance ...........................................3,000 To record the insurance expired.Adjustment (b)31 Teaching Supplies Expense ................................9,000Teaching Supplies ..........................................9,000 To record supplies used ($11,000 - $2,000).Adjustment (c)31 Depreciation Expense—Equipment ....................10,000Accumulated Depreciation—Equipment ............10,000 To record equipment depreciation.Adjustment (d)31 Depreciation Expense—Profess. Library ...........5,000A ccumul. Depreciation—Profess. Library.........5,000To record professional library depreciation.Adjustment (e)31 Unearned Training Fees .......................................5,000Training Fees Earned .....................................5,000 To record 2 months’ training fees earnedthat were collected in advance.Adjustment (f)31 Accounts Receivable ............................................4,000Tuition Fees Earned........................................4,000 To record tuition earned($1,600 x 2 1/2 months).Adjustment (g)31 Salaries Expense (480)Salaries Payable (480)To record accrued salaries(2 days x $120 x 2 employees).Adjustment (h)31 Rent Expense ........................................................2,178Prepaid Rent ....................................................2,178 To record expiration of prepaid rent.Part 3WELLS TEACHING INSTITUTEAdjusted Trial BalanceDecember 31, 2009Debit Credit Cash .......................................................................... $ 28,064Accounts receivable ................................................ 4,000Teaching supplies ................................................... 2,000Prepaid insurance .................................................... 13,000Prepaid rent 0Professional library ................................................. 33,000 Accumulated depreciation—Professional library ... $ 15,000 Equipment ................................................................ 75,800 Accumulated depreciation—Equipment ................ 25,000 Accounts payable .................................................... 39,500 Salaries payable . (480)Unearned training fees ............................................ 7,500 T. Wells, Capital ....................................................... 71,000 T. Wells, Withdrawals .............................................. 44,000Tuition fees earned .................................................. 115,000 Training fees earned ................................................ 46,000 Depreciation expense—Professional library ........ 5,000 Depreciation expense—Equipment ....................... 10,000Salaries expense ..................................................... 52,480Insurance expense................................................... 3,000Rent expense ............................................................ 26,136Teaching supplies expense .................................... 9,000 Advertising expense ................................................ 8,000Utilities expense....................................................... 6,000 _______ Totals ........................................................................ $319,480 $319,480Part 4WELLS TEACHING INSTITUTEIncome StatementFor Year Ended December 31, 2009RevenuesTuition fees earned ............................................ $115,000Training fees earned .......................................... 46,000Total revenues .................................................... $161,000 ExpensesDepreciation expense—Professional library ... 5,000Depreciation expense—Equipment .................. 10,000Salaries expense ................................................ 52,480Insurance expense ............................................. 3,000Rent expense ...................................................... 26,136Teaching supplies expense ............................... 9,000Advertising expense .......................................... 8,000Utilities expense ................................................. 6,000Total expenses ................................................... 119,616 Net income ............................................................ $ 41,384WELLS TEACHING INSTITUTEStatement of Owner’s EquityFor Year Ended December 31, 2009T. Wells, Capital, December 31, 2008 ................................. $ 71,000 Plus: Net income .................................................................. 41,384112,384 Less: Withdrawals by owner ............................................... 44,000 T. Wells, Capital, December 31, 2009 ................................. $ 68,384Problem 3-3A (Concluded)WELLS TEACHING INSTITUTEBalance SheetDecember 31, 2009AssetsCash ................................................................................. $ 28,064 Accounts receivable ...................................................... 4,000 Teaching supplies .......................................................... 2,000 Prepaid insurance .......................................................... 13,000 Professional library ........................................................ $33,000 Accumulated depreciation—Professional library ....... (15,000) 18,000 Equipment ....................................................................... 75,800 Accumulated depreciation—Equipment ...................... (25,000) 50,800 Total assets ..................................................................... $115,864LiabilitiesAccounts payable ........................................................... $ 39,500 Salaries payable . (480)Unearned training fees .................................................. 7,500 Total liabilities ................................................................ 47,480EquityT. Wells, Capital .............................................................. 68,384 Total liabilities and equity ............................................. $115,864Problem 3-4A (45 minutes) —Part 1Cash ......................................... $ 86,000 $ 86,000 Accounts receivable ........... 15,000 (a) 4,000 19,000Office supplies ...................... 17,800 (b) 8,800 9,000Prepaid insurance ................ 6,040 (c) 2,080 3,960Office equipment .................. 87,000 87,000 Accumulated depreciation—Office equipment ........... $ 24,000 (d) 2,000 $ 26,000 Accounts payable ................ 9,100 (e) 14,900 24,000 Interest payable ..................... (f) 2,500 2,500 Salaries payable ................... (g) 15,000 15,000 Unearned consulting fees .20,000 (h) 7,000 13,000 Long-term notes payable .. 54,000 54,000 K. Jenkins, Capital ............... 46,000 46,000 K. Jenkins, Withdrawals .... 10,000 10,000Consulting feesearned .................................... 165,000 (a)(h)4,0007,000 176,000Depreciation expense—Office equipment ................ (d) 2,000 2,000Salaries expense .................. 67,990 (g) 15,000 82,990Interest expense ................... 1,270 (f) 2,500 3,770 Insurance expense .............. (c) 2,080 2,080Rent expense ........................ 14,540 14,540Office supplies expense .... (b) 8,800 8,800 Advertising expense ........... 12,460 _______ (e) 14,900 ______ 27,360 _______ Totals ........................................ $318,100 $318,100 $56,280 $56,280 $356,500 $356,500 Adjustment description(a) Earned but uncollected revenues.(b) Cost of office supplies used.(c) Cost of expired insurance coverage.(d) Depreciation expense on office equipment.(e) Incurred but unpaid advertising expense.(f) Incurred but unpaid interest expense.(g) Incurred but unpaid salaries expense.(h) Earned revenues previously received in advance.。
怀尔德《会计学原理》19版答案 (6)
hawai Chapter 6Inventories and Cost of SalesQUICK STUDIESQ uick Study 6-1 (25 minutes)a. FIFODate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 320 @ $6.00 = $1,9201/ 9 85 @ $6.40 320 @ $6.00= $2,46485 @ $6.401/25 110 @ $6.60 320 @ $6.0085 @ $6.40 = $3,190110 @ $6.601/26 320 @ $6.00 = $1,92045 @ $6.40= $1,01440 @ $6.40 = 256110 @ $6.60360 $2,176b. LIFODate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 320 @ $6.00 = $1,9201/ 9 85 @ $6.40 320 @ $6.00= $2,46485 @ $6.401/25 110 @ $6.60 320 @ $6.0085 @ $6.40 = $3,190110 @ $6.601/26 110 @ $6.60 = $ 726155 @ $6.00 = $ 93085 @ $6.40 = 544165 @ $6.00 = 990360 $2,260c. Weighted AverageDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 320 @ $6.00 = $1,920 1/ 9 85 @ $6.40 320 @ $6.0085 @ $6.40 = $2,464(avg. cost is $6.084*)1/25 110 @ $6.60 320 @ $6.00©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 6 32985 @ $6.40 = $3,190110 @ $6.60(avg. cost is $6.194*)1/26 360 @ $6.194 = $2,230*155 @ $6.194 = $ 960* *roundedAlternate solution format(a) FIFO: 110 @ $6.60 = $ 72645@ $6.40 = 288155 $1,014Ending inventory cost(b) LIFO:155 @ $6.00 = $ 930Ending inventory cost(c) Weighted average:320 @ $6.00 = $1,92085 @ $6.40 = 544110@ $6.60 = 726515 $3,190Cost of goods available for sale$3,190/515 = $6.194 (rounded) weighted average cost per unit155 units @ $6.194 = $ 960 Ending inventory cost (rounded)©McG330Q uick Study 6-2 (10 minutes)Beginning inventory.....................................10 units @ $28 $ 280Plus 1st week purchase.......................................10 units @ $30 3002nd week purchase......................................10 units @ $31 3103rd week purchase.......................................10 units @ $32 3204th week purchase.......................................10 units @ $34 340Units Available for sale................................50 unitsCost of Goods Available for Sale................$1,550Q uick Study 6-3 (25 minutes)a. FIFODate Goods Purchased Cost of Goods Sold Inventory Balance12/ 7 10 @ $ 9 = $ 90 10 @ $ 9 = $ 9012/14 20 @ $10 = $200 10 @ $ 920 @ $10 = $29012/15 10 @ $ 9 12 @ $10 = $1208 @ $10 = $17012/21 15 @ $12 = $180 12 @ $10= $300____ 15 @ $12$170b. LIFODate Goods Purchased Cost of Goods Sold Inventory Balance12/ 7 10 @ $ 9 = $ 90 10 @ $ 9 = $ 9012/14 20 @ $10 = $200 10 @ $ 920 @ $10 = $29012/15 18 @ $10 = $180 10 @ $ 92 @ $10 = $11012/21 15 @ $12 = $180 10 @ $ 92 @ $10 = $290____ 15 @ $12$180©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 6 331c. Weighted AverageDate Goods Purchased Cost of Goods Sold Inventory Balance12/ 7 10 @ $ 9 = $ 90 10 @ $ 9 = $ 9012/14 20 @ $10 = $200 10 @ $ 9= $29020 @ $ 10(avg cost is $9.667)12/15 18 @ $9.667 =$17412 @ $9.667 = $11612/21 15 @ $12 = $180 12 @ $9.667= $296____15 @ $ 12$174(avg cost is $10.963)d. Specific identification(3 units x $9) + (9 units x $10) + (15 units x $12) = $297.Quick Study 6-4 (10 minutes)1. FIFO2. Specific identification3. LIFO4. LIFO5. LIFOQ uick Study 6-5 (10 minutes)1. The consignor is Jabar Company. The consignee is Chi Company. Theconsignor, Jabar Company, should include any unsold and consigned goods in its inventory.2. Title will pass at “destination” which is Kwon Company’s receiving dock.Liu should show the $750 in its inventory at year-end as Liu retains title until the goods reach Kwon Company.©McG332Cost..............................................................................................$17,500PlusTransportation-in (300)Import duties.............................................................................1,000 Insurance.. (250)Inventory cost...........................................................................$19,050The $400 advertising cost and the $3,000 cost for sales staff salaries are included in operating expenses—not part of inventory costs. Those two costs are unnecessary to get the vehicle in a place and condition for sale.Q uick Study 6-7 (20 minutes)Per Unit Total Total LCM applied to Inventory Items Units Cost Market Cost Market Items Whole Mountain bikes 20 $650 $500$13,000$10,000$10,000 Skateboards 22 400 4508,8009,9008,800790 34,000 31,600 31,600_______850Gliders 40$55,800$51,500$50,400$51,500a. LCM for inventory as a whole...................................................$51,500b. LCM applied to each product ..................................................$50,400Q uick Study 6-8(15 minutes)a.Overstates 2009 cost of goods sold.b.Understates 2009 gross profit.c.Understates 2009 net income.d.Overstates 2010 net income.e.The understated 2009 net income and the overstated 2010 net incomecombine to yield a correct total income for the two-year period.f.The 2009 error will not affect years after 2010.©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 6 333Quick Study 6-9A (15 minutes)ofCostEndingSold InventoryGoodsa. FIFO(45 x $6.40) + (110 x $6.60)................................. $1,014(320 x $6.00) + (40 x $6.40)................................. $2,176b. LIFO(155 x $6.00)......................................................... $ 930(110 x $6.60) + (85 x $6.40) + (165 x $6.00)....... $2,260c. Weighted Average ($3,190/ 515 = $6.194* cost per unit)(155 x $6.194)....................................................... $ 960*(360 x $6.194)....................................................... $2,230**rounded©McGraw-Hill Companies, 2009Fundamental Accounting Principles, 19th Edition334EXERCISESExercise 6-1 (30 minutes)a. Specific identificationEnding inventory—100 units from January 30, 80 units from January 20, and45 units from beginning inventoryEnding Cost of Computations Inventory Goods Sold (100 x $5.00) + (80 x $6.00) + (45 x $7.00).......$1,295$2,800 - $1,295..................................................$1,505b. Weighted average perpetualDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 140 @ $7.000 = $ 980 1/10 90 @ $ 7.00 = $ 630 50 @ $7.000 = $ 350 1/20 220 @ $6.00 50 @ $7.000= $1,670220 @ $6.000(avg. cost is $6.185)1/25 145 @ $6.185 = $ 897*125 @ $6.185 = $ 773*1/30 100 @ $5.00 _____125 @ $6.185= $1,273$1,527100 @ $5.000(avg. cost is $5.658) *roundedc. FIFO PerpetualDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 140 @ $7.00 = $ 980 1/10 90 @ $7.00 = $ 630 50 @ $7.00 = $ 350 1/20 220 @ $6.00 50 @ $7.00220 @ $6.00 = $1,670 1/25 50 @ $7.0095 @ $6.00 = $ 920 125 @ $6.00 = $ 750 1/30 100 @ $5.00 _____ 125 @ $6.00$1,550 100 @ $5.00 = $1,250, 2009335E xercise 6-1 (Continued)d. LIFO PerpetualDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 140 @ $7.00 = $ 9801/10 90 @ $7.00 = $ 630 50 @ $7.00 = $ 3501/20 220 @ $6.00 50 @ $7.00220 @ $6.00 = $1,6701/25 145 @ $6.00 = $ 870 50 @ $7.0075 @ $6.00 = $ 8001/30 100 @ $5.00 _____ 50 @ $7.00$1,50075 @ $6.00 = $1,300100 @ $5.00Alternate Solution Format for FIFO and LIFO PerpetualEnding Cost ofComputations Inventory Goods Soldc. FIFO(125 x $6.00) + (100 x $5.00)............................................$1,250(90 x $7.00) + (50 x $7.00) + (95 x $6.00)........................$1,550d. LIFO(50 x $7.00) + (75 x $6.00) + (100 x $5.00)...................... $1,300(90 x $7.00) + (145 x $6.00)............................................. $1.500E xercise 6-2(20 minutes)LIBERTY COMPANYIncome StatementsFor Month Ended January 31Specific Identification WeightedAverage FIFO LIFOSales.................................$3,525 $3,525 $3,525 $3,525 (235 units x $15 price)Cost of goods sold......... 1,505 1,527 1,550 1,500 Gross profit.....................2,020 1,998 1,975 2,025 Expenses......................... 1,250 1,250 1,250 1,250 Income before taxes.......770 748 725 775 Income tax expense (30%).. 231 224* 218* 233* Net income......................$ 539 $ 524 $ 507 $ 542 * Rounded to nearest dollar.©McG336Exercise 6-2 (Concluded)1. LIFO method results in the highest net income of $542.2. Weighted average net income of $524 falls between the FIFO netincome of $507 and the LIFO net income of $542.3. If costs were rising instead of falling, then the FIFO method would yieldthe highest net income.Exercise 6-3 (30 minutes)a. FIFO PerpetualDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 126 @ $ 8 = $1,008 1/10 113 @ $ 8 = $ 904 13 @ $ 8 = $ 104 3/14 315 @ $13 = $4,095 13 @ $ 8315 @ $13 = $4,199 3/15 13 @ $ 8 148 @ $13 = $1,924167 @ $13 = $ 2,2757/30 250 @ $18 = $4,500 148 @ $13250 @ $18 = $6,424 10/ 5 148 @ $13230 @ $18 = $ 6,064 20 @ $18 = $ 360 10/26 50 @ $23 = $1,150 20 @ $18______ 50 @ $23 = $1,510$9,243, 2009337E xercise 6-3 (Concluded)a. LIFO PerpetualDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 126 @ $ 8 = $1,0081/10 113 @ $ 8 = $ 904 13 @ $ 8 = $ 1043/14 315 @ $13 = $4,095 13 @ $ 8315 @ $13 = $4,1993/15 13 @ $ 8180 @ $13 = $2,340135 @ $13 = $1,8597/30 250 @ $18 = $4,500 13 @ $ 8135 @ $13 = $6,359250 @ $1810/ 5 250 @ $18 = $4,500 13 @ $ 8128 @ $13 = 1,664 7 @ $13 = $ 195$6,16410/26 50 @ $23 = $1,150 13 @ $ 87 @ $13 = $1,345_____ 50 @ $23$9,408Alternate Solution FormatofCostEndingSold InventoryGoodsa. FIFO(20 x $18) + (50 x $23)...........................................................$1,510(113 x $8) + (13 x $8) + (167 x $13) + (148 x $13) +(230 x $18)............................................................................$9,243b. LIFO(13 x $8) + (7 x $13) + (50 x $23).......................................... $1,345(113 x $8) + (180 x $13) + (250 x $18) + (128 x $13)............. $9,408FIFO Gross MarginSales revenue (671 units sold x $40 selling price).................$26,840Less: FIFO cost of goods sold................................................ 9,243Gross profit................................................................................$17,597LIFO Gross MarginSales revenue (671 units sold x $40 selling price).................$26,840Less: LIFO cost of goods sold................................................ 9,408Gross profit................................................................................$17,432©McG338a. Specific identification method—Cost of goods soldCost of goods available for sale.......................................$10,753 Ending inventory under specific identification3/14 purchase ( 5 @ $13) ........................................$ 657/30 purchase ( 15 @ $18) (270)10/26 purchase ( 50 @ $23)......................................... 1,150Total ending inventory under specific identification.... 1,485 Cost of goods sold under specific identification..........$ 9,268b. Specific identification method—Gross marginSales revenue (671 units sold x $40 selling price)..........$26,840 Less: Specific identification cost of goods sold............ 9,268 Gross profit.........................................................................$17,572E xercise 6-5 (15 minutes)Per Unit Total Total LCM applied to Inventory Items Units Cost Market Cost Market Products Whole Helmets.........19 $45 $49$ 855$ 931$ 855 Bats...............12 73 67876804804 Shoes............33 90 862,9702,8382,838 Uniforms.......37 31 31 1,147 1,147 1,147$5,848$5,720$5,644 $5,720a. Lower of cost or market of inventory as a whole = $5,720b. Lower of cost or market of inventory by product = $5,644©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 6 3391. Correct gross profit = $1,100,000 - $700,000 = $400,000 (for each year)2. Reported income figuresYear 2008 Year 2009 Year 2010 Sales.....................................$1,100,000$1,100,000$1,100,000Cost of goods soldBeginning inventory........$280,000$262,000$280,000Cost of purchases............ 700,000 700,000 700,000Good available for sale...980,000962,000980,000Ending inventory.............. 262,000 280,000 280,000Cost of goods sold.......... 718,000 682,000 700,000Gross profit.........................$ 382,000$ 418,000$ 400,000E xercise 6-7A (20 minutes)CostofEndingGoodsSold Inventorya. Specific Identification(100 x $5.00) + (80 x $6.00) + (45 x $7)........................ $1,295$2,800 - $1,295.............................................................. $1,505b. Weighted Average($2,800 / 460 units = $6.087* average cost per unit)225 x $6.087.................................................................. $1,370*235 x $6.087.................................................................. $1,430*c. FIFO(100 x $5.00) + (125 x $6.00)........................................ $1,250(140 x $7.00) + (95 x $6.00).........................................$1,550©McG340d. LIFO(140 x $7.00) + (85 x $6.00).......................................... $1,490(100 x $5.00) + (135 x $6.00)........................................ $1,310 *roundedExercise 6-8A (20 minutes)Ending InventoryCost of Goods Solda. Specific identification(135 x $2.70) + (135 x $2.60) + (135 x $2.30).......$1,026$8,976 - $1,026.......................................................$7,950 b. Weighted average ($8,976/3,780 = $2.375*)405 x $2.375...........................................................962*$8,976 - $962..........................................................8,014* c. FIFO(390 x $2.70) + (15 x $2.60) ..................................1,092(270 x $1.90) + (540 x $2.05) + (1,350 x $2.30) +(1,215 x $2.60)..................................................7,884 d. LIFO(270 x $1.90) + (135 x $2.05).................................790*(390 x $2.70) + (1,230 x $2.60) + (1,350 x $2.30)+ (405 x $2.05).....................................................8,186* *RoundedIncome effect: FIFO provides the lowest cost of goods sold, thehighest gross profit, and the highest net income.©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 6 341PROBLEM SET AProblem 6-1A (40 minutes)Instructor note: In the first printing, Requirement 3 in the book for specific identification reads “—units sold consist of…,” which should read “—ending inventory consists of…”1. Compute cost of goods available for sale and units available for saleBeginning inventory......................... 770 units @ $50$38,500 Feb. 10............................................... 420 units @ $4117,220 Mar. 13............................................... 260 units @ $256,500 Aug. 21............................................... 180 units @ $498,820 Sept. 5............................................... 585 units @ $42 24,570 Units available................................... 2,215 unitsCost of goods available for sale $95,6102. Units in ending inventoryUnits available (from part 1).............2,2151,420Less: Units sold (770 + 650).............Ending Inventory (units) (795)©McG3423a. FIFO perpetualDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 770 @ $50 = $38,5002/10 420 @ $41 = $17,220 770 @ $50420 @ $41 = $55,720 3/13 260 @ $25 = $ 6,500 770 @ $50420 @ $41 = $62,220260 @ $253/15 770 @ $50 = $38,500 420 @ $41260 @ $25 = $23,7208/21 180 @ $49 = $ 8,820 420 @ $41260 @ $25 = $32,540180 @ $499/ 5 585 @ $42 = $24,570 420 @ $41260 @ $25 = $57,110180 @ $49585 @ $429/10 420 @ $41230 @ $25 = $22,970_______ 30 @ $25180 @ $49585 @ $42 = $34,140$61,470FIFO Alternate Solution FormatCost of goods available for sale $95,610 Less: Cost of sales 770 @ $50 $38,500420 @ $41 17,220230 @ $25 5,75061,470 Total cost of goods soldEndingInventory $34,140 Proof of Ending Inventory30 @ $25 180 @ $49 $ 7508,820585 @ $42 24,570EndingInventory............... 795 units $34,140©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 6 3433b. LIFO perpetualDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 770 @ $50 = $38,500 2/10 420 @ $41 = $17,220 770 @ $50420 @ $41 = $55,720 3/13 260 @ $25 = $ 6,500 770 @ $50420 @ $41 = $62,220260 @ $253/15 260 @ $25420 @ $41 = $28,22090 @ $50680 @ $50 = $34,0008/21 180 @ $49 = $ 8,820 680 @ $50180 @ $49 = $42,820 9/ 5 585 @ $42 = $24,570 680 @ $50180 @ $49 = $67,390585 @ $429/10 585 @ $4265 @ $49 = $27,755_______680 @ $50115 @ $49 = $39,635$55,975LIFO alternate solution formatCost of goods available for sale $95,610Less: Cost of sales 260 @ $25 $ 6,500420 @ 41 17,22090 @ 50 4,500585 @ 42 24,57065 @ 49 3,18555,975 Cost of Goods SoldEndingInventory $39,635 Proof of Ending Inventory680 @ $50 $34,0005,635115 @ 49EndingInventory………..795 units $39,635©McGraw-Hill Companies, 2009Fundamental Accounting Principles, 19th Edition 3443c. Specific IdentificationCost of goods available for sale...........$95,610Less: Cost of Goods Sold675 @ $50..................................$33,750245 @ $41.................................. 10,045190 @ $25..................................4,750180 @ $49..................................8,820130 @ $42.................................. 5,460Total cost of goods sold........................ 62,825Ending Inventory....................................$32,785Proof of Ending Inventory95 @ $50 $ 4,750175 @ $41 7,17570 @ $25 1,750455 @ $42 19,110Ending Inventory…………. 795 units $32,785, 2009345P roblem 6-1A (Continued)3d. Weighted AverageDate Goods Purchased Cost of Goods Sold Inventory Balance1/ 1 770 @ $50.00 = $38,500 2/10 420 @ $41 = $17,220 770 @ $50.00420 @ $41.00 = $55,720(avg. cost is $46.824*)3/13 260 @ $25 = $ 6,500 770 @ $50.00420 @ $41.00 = $62,220260 @ $25.00(avg. cost is $42.910*)3/15 770 @ $42.910* = $33,041**680 @ $42.910* = $29,179** 8/21 180 @ $49 = $ 8,820 680 @ $42.910*180 @ $49.000 = $37,999(avg. cost is $44.185*)9/ 5 585 @ $42 = $24,570 680 @ $42.910*180 @ $49.000585 @ $42.000 = $62,569(avg. cost is $43.300*)9/10 650 @ $43.300 = $28,145**795 @ $43.300 = $34,424$61,186* rounded to three decimals** rounded to nearest dollar4.FIFO LIFO SpecificIdentifi-cationWeightedAverageSales (1,420 x $75)................$106,500$106,500$106,500 $106,500 Less: Cost of goods sold..... 61,470 55,975 62,825 61,186 Gross profit............................$ 45,030$ 50,525$ 43,675 $ 45,3145. The manager would likely prefer the LIFO method since this method’sgross profit is the largest at $50,525. This would give the manager the highest bonus based on gross profit.©McG346a. Lower of cost or market for the inventory as a whole = $275,948b. Lower of cost or market for the inventory by major category =$95,011 + $148,699 + $27,752 = $271,462 c. Lower of cost or market for inventory applied separately = $264,007, 2009347P art 1(a)Cost of goods sold 2008 2009 2010 Reported......................................$ 623,000$ 955,000 $ 780,000 Adjustments: 12/31/2008 error.....- 56,000+ 56,00012/31/2009 error..... + 25,000 - 25,000 Corrected....................................$ 567,000$1,036,000 $ 755,000 (b)Net income 2008 2009 2010 Reported......................................$ 230,000$ 275,000 $ 250,000 Adjustments: 12/31/2008 error.....+ 56,000- 56,00012/31/2009 error..... - 25,000 + 25,000 Corrected....................................$ 286,000$ 194,000 $ 275,000 (c)Total current assets 2008 2009 2010 Reported......................................$1,247,000$1,360,000 $1,230,000 Adjustments: 12/31/2008 error.....+ 56,00012/31/2009 error..... - 25,000 Corrected....................................$1,303,000$1,335,000 $1,230,000 (d)Equity 2008 2009 2010 Reported......................................$1,387,000$1,580,000 $1,245,000 Adjustments: 12/31/2008 error.....+ 56,00012/31/2009 error....._________ - 25,000 Corrected....................................$1,443,000$1,555,000 $1,245,000 P art 2Total net income for the combined three-year period ($755,000) is not affected by the errors. This is because these errors are "self-correcting"—that is, each overstatement (or understatement) of net income is offset by a matching understatement (or overstatement) in the following year.P art 3The understatement of inventory by $56,000 results in an overstatement of cost of goods sold by that same amount. The $56,000 overstatement of cost of goods sold results in an understatement of gross profit by the same amount. This understatement of gross profit carries through to an understatement of net income. Since the understated net income is closed to equity, the final equity figure is understated by the amount of the inventory understatement.©McG348。
会计学原理-约翰·J·怀尔德版-上海交通大学-05
Purchases
Credit Sale
Cash collection Purchases
Cash sales
Account receivable
Merchandise inventory
Merchandise inventory
McGraw-Hill/Irwin
Credit sales
Dr. Jun. 20 Merchandise Inventory Cash Purchase merchandise for cash 14,000 14,000 Cr.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
P1
Trade Discounts
© The McGraw-Hill Companies, Inc., 2007
McGraw-Hill/Irwin
P1
Merchandise Purchases
On June 20, Jason, Inc. purchased $14,000 of Merchandise Inventory paying cash.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Procedural Learning Objectives
P1: Analyze and record transactions for merchandise purchases using a perpetual system P2: Analyze and record transactions for merchandise sales using a perpetual system P3: Prepare adjustments and close accounts for a merchandising company P4: Define and prepare multiple-step and single-step income statements P5: Appendix 5A: Record and compare merchandising transactions using both periodic and perpetual inventory systems
怀尔德会计学原理21版英语题库答案
9.Accounting is described as a service activity because it serves decision makers by
providing information to help them make better business decisions・
8.Marketing managers are likely interested in information such as sales volume,
advertising costs, promotion costs, salaries of sales personnel, and sales
measure the risk and return of loans; (b) shareholders, to assess whether to buy,
sell, or hold their shares; (c) directors, to oversee their interests in the organization;
怀尔德会计学原理
Chapter1
Accounting in Business
QUESTIONS
1・ The purpose of accounting is to provide decision makers with relevant and reliable
information to help them make better decisions・ Examples include information for
customers ' accounts being promptly collected?
18版会计学原理书后习题答案 怀德尔 詹姆斯 卡尔 乔纳森 (4)
hawaiChapter 5Accounting for MerchandisingOperationsQUICK STUDIESQuick Study 5-1 (10 minutes)Mar. 5 Merchandise Inventory ......................................... 12,000Payable .........................................12,000AccountsTo record credit purchase (1,000 x $12).Mar. 7 Accounts Payable (600) (600)MerchandiseInventoryReturned defective units [(50/1,000) x $12,000].Mar. 15 Accounts Payable ................................................ 11,400Cash...............................................................11,172 (228)Inventory*MerchandisePaid for purchase less cash discount*[(12,000 - $600) x 2%]., 2009265Quick Study 5-2 (10 minutes)Apr. 1 Accounts Receivable ............................................ 5,000 Sales .............................................................. 5,000To record credit sale.1 Cost of Goods Sold ............................................... 3,000 Merchandise Inventory ................................ 3,000To record cost of credit sale.4 Sales Returns and Allowances ............................ 1,000 Accounts Receivable ................................... 1,000To record sales return.4 Merchandise Inventory (600)Cost of Goods Sold ......................................600Restore cost of returned goods to inventory.11 Cash ........................................................................ 3,920 Sales Discounts* ................................................... 80 Accounts Receivable .................................... 4,000Received payment less cash discount*[($5,000 - $1,000) x 2%].Quick Study 5-3 (10 minutes) (a) (b) (c) (d)Sales........................................$140,000 $378,000 $42,500 $593,000 Sales discounts......................(1,700)(6,000)(400) (2,500)S ales returns and allowances... (9,000) (17,000)(3,400) (15,300)Net sales..................................129,300 355,000 38,700 575,200 Cost of goods sold................. (82,493)(222,230) (28,676) (451,532)Gross profit.............................$ 46,807 $132,770 $10,024 $123,668Gross margin ratio:(Gross profit / Net sales)........ 36.2% 37.4% 25.9% 21.5%Interpretation of gross margin ratio for case a : The ratio of 36.2% implies that for each dollar in net sales the company earns 36.2 cents in gross profit. The company must still deduct other expenses that it incurs in running the business when computing net income.©McG 266Q uick Study 5-4 (10 minutes)July 31 Cost of Goods Sold ............................................. 1,400..............................1,400InventoryMerchandiseTo adjust for shrinkage based onphysical count [$42,000 - $40,600].Q uick Study 5-5A (5 minutes)a. Perpetual inventory systemb. Perpetual inventory systemc. Perpetual inventory systemd. Perpetual inventory systeme. Periodic inventory systemQuick Study 5-6A (10 minutes)Mar. 5 Purchases............................................................... 12,000Payable..........................................12,000 AccountsTo record credit purchase (1,000 x $12).7Payable (600)AccountsPurchases Returns & Allowances (600)Returned defective units [(50/1,000) x $12,000].Payable..................................................11,400Accounts15Cash................................................................11,172Discounts* (228)PurchasesPaid for purchase less cash discount* ($12,000 - $600) x 2%.Quick Study 5-7A (10 minutes)Apr. 1 Accounts Receivable ............................................5,000..............................................................5,000 SalesTo record credit sale.4 Sales Returns and Allowances ............................1,000...................................1,000 AccountsReceivableTo record sales return.11 Cash ........................................................................3,920Discounts* (80)SalesReceivable....................................4,000 AccountsReceived payment less cash discount*($5,000 - $1,000) x 2%., 2009267EXERCISESExercise 5-1 (30 minutes)Apr. 2 Merchandise Inventory..........................................5,900Payable—Johns.............................5,900 AccountsPurchased merchandise on credit.3 Merchandise Inventory (330)Cash (330)Paid shipping charges on purchasedmerchandise.4 Accounts Payable—Johns (900)Inventory (900)MerchandiseReturned unacceptable merchandise.17 Accounts Payable—Johns....................................5,000Inventory* (100)MerchandiseCash.................................................................4,900 *[($5,900 - $900) x 2%]Paid balance (less 2%) within discount period.18 Merchandise Inventory ......................................... 12,250Payable—William...........................12,250 AccountsPurchased merchandise on credit.21 Accounts Payable—William..................................3,250Inventory..................................3,250 MerchandiseReceived an allowance on purchase.28 Accounts Payable—William..................................9,000Inventory* (180)MerchandiseCash.................................................................8,820 *[($12,250 - $3,250) x 2%]Paid balance (less 2%) within discount period.©McG268Exercise 5-2 (30 minutes)1. BUYER- Fortuna CompanyCredit PurchaseInventory........................................30,000MerchandisePayable.........................................30,000 AccountsPurchased merchandise on credit.Cash Payment30,000Payable................................................AccountsInventory* (600)Merchandise29,400 Cash...............................................................Paid account payable within 2% discount period.*$30,000 x 2%2. SELLER – Lemar CompanyCredit Sale30,000Receivable...........................................Accounts30,000 Sales...............................................................Sold merchandise on account.Cost of Goods Sold ............................................. 20,10020,100................................MerchandiseInventoryTo record cost of sale.Cash CollectionCash.......................................................................29,400Discounts....................................................600Sales30,000Receivable....................................AccountsCollected account receivable.3. Amount borrowed to pay with discount............................... $29,400.00Annual rate of interest ........................................................... x 8%Interest per year...................................................................... $ 2,352.00Interest per day ($2,352.00 / 365 days).................................. $ 6.44Savings from discount taken................................................. $ 600.00Interest paid on 50-day loan (50 days x $6.44)..................... (322.19)Net savings from borrowing to pay in discount period..........$ 277.81©McGraw-Hill Companies, 2009Solutions Manual, Chapter 5 269xercise 5-3 (10 minutes)E1. C 6. E2. J 7. D3. A 8. G4. B 9. H5. F 10. IExercise 5-4 (30 minutes)May 5 Accounts Receivable ........................................... 7,920............................................................... 7,920 SalesSold merchandise on credit (720 x $11).5 Cost of Goods Sold .............................................. 5,040Inventory................................. 5,040 MerchandiseTo record cost of sale (720 x $7).a.May 7 Sales Returns and Allowances ........................... 2,761Receivable.................................... 2,761 AccountsAccepted a return from a customer (251 x $11).7 Merchandise Inventory ........................................ 1,757Cost of Goods Sold ...................................... 1,757 Returned merchandise to inventory (251 x $7).b.May 8 Sales Returns and Allowances (180)Receivable (180)AccountsGranted allowance for damaged merchandise.c.May 15 Sales Returns and Allowances (411)Receivable (411)AccountsGranted allowance for mis-colored merchandiseand accepted a return from a customer for themis-colored merchandise [$92 + (29 x $11)].15 Merchandise Inventory (203)Cost of Goods Sold (203)Returned merchandise to inventory (29 x $7).©McG270Exercise 5-5 (15 minutes)May 5 Merchandise Inventory......................................... 7,920Payable.......................................... 7,920 AccountsPurchased merchandise on credit (720 x $11).a.May 7 Accounts Payable................................................. 2,761Inventory.................................. 2,761 MerchandiseReturned unwanted merchandise (251 x $11).b.May 8 Accounts Payable (180)Inventory (180)MerchandiseTo record allowance for damaged merchandise.c.May 15 Accounts Payable (411)Inventory (411)MerchandiseTo record allowance for mis-colored goods andreturn of mis-colored merchandise$92 + (29 x $11).Exercise 5-6 (30 minutes)Note: The original missing numbers are blocked.(a) (b) (c) (d) (e) Sales............................ $82,800 $58,622 $50,094 $107,640 $32,540Cost of goods soldMerch. inv. (beg.)....... 7,866 3,507 10,519 9,902 3,351Total cost of merch.purchases................. 35,439 22,139 46,988 45,252 7,439Merch. inv. (end.)....... (8,355) (3,714) (12,019) (9,527) (2,431)Cost of goods sold.... 34,950 21,932 45,488 45,627 8,359 Gross profit................. 47,850 36,690 4,606 62,013 24,181 Expenses..................... 9,000 10,650 14,923 32,600 6,100Net income (loss)........ $38,850 $26,040 $(10,317) $ 29,413 $18,081Explanations:a. Find merchandise inventory (ending) by subtracting cost of goods sold from goodsavailable for sale. Find gross profit as the difference between the sales and cost ofgoods sold. Find net income as the gross profit less the expenses.©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 5 271b. Find total cost of merchandise purchases by finding the number that makes the totalequal the cost of goods sold. Find gross profit from sales less cost of goods sold.c. Find cost of goods sold from sales less gross profit. Find cost of merchandisepurchases by finding the number to make the calculation equal cost of goods sold. d. Calculate cost of goods sold as usual. Calculate sales as gross profit plus cost ofgoods sold.e. Find merchandise inventory (ending) by subtracting cost of goods sold from goodsavailable for sale. Find gross profit from sales less cost of goods sold. Find net income as gross profit less expenses.Exercise 5-7 (30 minutes)Merchandise InventoryBalance, Dec. 31, 2008..............42,979Purchase discounts received........2,427 Invoice cost of purchases........303,459Purchase returns and allow...........3,900 Returns by customers..............2,700Cost of sales transactions.............296,000 Transportation-in......................3,034Shrinkage.. (790)Balance, Dec. 31, 2009 49,055Cost of Goods SoldCost of sales transactions...... Inventory shrinkagerecorded in December 31, 2009, adjusting entry.............296,000790Returns by customers andrestored to inventory....................2,700Balance, Dec. 31, 2009 294,090Exercise 5-8 (25 minutes)Adjusting entriesDec. 31 Sales Salaries Expense................................... 1,700SalariesPayable........................................ 1,700 To record accrued salaries.Dec. 31 Selling Expenses.............................................. 1,600PrepaidSellingExpenses........................ 1,600 To record expired prepaid selling expenses.Dec. 31 Cost of Goods Sold (574)MerchandiseInventory (574)To record inventory shrinkage($30,200 - $29,626).©McG272Closing entriesDec. 31 Sales ..............................................................543,600Summary...................................543,600 IncomeTo close temporary accounts withcredit balances.Dec. 31 Income Summary..........................................541,839Sales Returns and Allowances.............20,656Discounts.....................................5,783 SalesCost of Goods Sold ($267,451 + $574)........ 268,025Sales Salaries Exp. ($59,796 + $1,700)........ 61,496 Expense....................................17,395 UtilitiesExpenses ($46,749 + $1,600)........... 48,349 SellingExpenses......................120,135 AdministrativeTo close temporary accounts with debitbalances.Dec. 31 Income Summary..........................................1,761K. Yamiko, Capital..................................1,761To close Income Summary account.Dec. 31 K. Yamiko, Capital.........................................1,500K. Yamiko, Withdrawals........................1,500To close the withdrawals account.Exercise 5-13Perpetual Inventory System1)Nov. 1 Merchandise Inventory.....................................2,800Payable......................................2,800AccountsTo record merchandise purchases on credit.2)Nov. 5 Accounts Payable.............................................2,800Inventory* (56)MerchandiseCash............................................................ 2,744To record cash payment in discount period.*$2,8000.02x©McGraw-Hill Companies, 2009Solutions Manual, Chapter 5 2733)Nov. 7 Cash (98)Inventory* (98)MerchandiseTo record check received for return of purchasespreviously paid for with discount already taken.*$100 – ($100 x 0.02)4)Nov. 10 Merchandise Inventory (140)Cash (140)To record payment of freight charges.5)Nov. 13 Accounts Receivable........................................3,024Sales............................................................ 3,024 To record sale of merchandise on credit.Nov. 13 Cost of Goods Sold .......................................... 1,512Inventory..............................1,512MerchandiseTo record cost of merchandise sold.6)Nov. 16 Sales Returns and Allowances (205)AccountsReceivable (205)To record return of merchandise sold on credit.Nov. 16 Merchandise Inventory (115)Cost of Goods Sold (115)To record cost of merchandise returned.Exercise 5-10A (30 minutes)Apr. 2 Purchases..........................................................5,900Payable—Johns........................5,900 AccountsPurchased merchandise on credit.3 Transportation-In (330)Cash (330)Paid shipping charges on purchasedmerchandise.4 Accounts Payable—Johns (900)Purchases Returns & Allowances (900)Returned unacceptable merchandise.©McGraw-Hill Companies, 2009274Fundamental Accounting Principles, 19th Edition17 Accounts Payable—Johns...............................5,000Discounts* (100)PurchasesCash............................................................4,900 Paid balance (less 2%) within discount period.*($5,900 - $900) x 2%18 Purchases..........................................................12,250Payable—William......................12,250 AccountsPurchased merchandise on credit.21 Accounts Payable—William.............................3,250Purchases Returns & Allowances............3,250 Received an allowance on purchase.28 Accounts Payable—William.............................9,000Discounts* (180)PurchasesCash............................................................8,820 Paid balance (less 2%) within discount period.*($12,250 - $3,250) x 2%Exercise 5-11A (30 minutes)Fortuna–1. BUYERCredit Purchase30,000Purchases.........................................................Payable..................................... 30,000 AccountsPurchased merchandise on credit.Cash Payment30,000Payable............................................AccountsDiscounts* (600)PurchasesCash........................................................... 29,400 Paid account payable within 2% discount period.2%*$30,000x2. SELLER - LemarCredit Sale30,000Receivable.......................................AccountsSales........................................................... 30,000 Sold merchandise on account., 2009275Cash Collection29,400Cash...................................................................600Discounts*..............................................SalesReceivable................................ 30,000 AccountsCollected account receivable.x2%*$30,000Exercise 5-17A (20 minutes)Periodic Inventory System1)Nov. 1 Purchases..........................................................2,800Payable......................................2,800AccountsTo record purchases on credit.2)Nov. 5 Accounts Payable.............................................2,800PurchasesDiscount* (56)Cash............................................................ 2,744 To record cash payment in discount period.*$2,800 x2%3)Nov. 7 Cash (98)Purchases Returns and Allowances (98)To record check received for return of purchasespreviously paid for with discount already taken.*$100 – ($100 x 2%)4)Nov. 10 Transportation-In (140)Cash (140)To recor d payment of freight charges.5)Nov. 13 Accounts Receivable........................................3,024Sales............................................................3,024To record sale of merchandise on credit...........6)Nov. 16 Sales Returns and Allowances (205)Receivable (205)AccountsTo record return of merchandise sold on credit.©McG276PROBLEM SET AProblem 5-1A (40 minutes)July 1 Merchandise Inventory.....................................6,400Payable—Arch..........................6,400 AccountsPurchased goods on credit, terms 1/15, n/30.2 Accounts Receivable—Driver (900)Sales (900)Sold goods on credit, terms 1/10, n/60.2 Cost of Goods Sold (533)Merchandise Inventory (533)To record cost of the July 2 sale.3 Merchandise Inventory (130)Cash (130)Paid freight on incoming goods.8 Cash....................................................................2,100Sales............................................................2,100 Sold goods for cash.8 Cost of Goods Sold...........................................1,700Inventory..............................1,700 MerchandiseTo record cost of the July 8 sale.9 Merchandise Inventory.....................................2,200Payable—Kew...........................2,200 AccountsPurchased goods on credit, terms 1/15, n/60.11 Accounts Payable—Kew (200)MerchandiseInventory (200)Received credit memo from returninggoods to supplier.12 Cash (891) (9)Discounts*SalesReceivable—Driver (900)AccountsCollected receivable within the discountperiod. *($900 x 1% = $9), 2009277Problem 5-1A (Concluded)July 16 Accounts Payable—Arch..................................6,400Inventory* (64)MerchandiseCash............................................................6,336 Paid payable within discount period.*($6,400 x 1% = $64)19 Accounts Receivable—Surtis.......................... 1,200Sales............................................................1,200 Sold goods on credit, terms 1/15, n/60.19 Cost of Goods Sold (800)Inventory (800)MerchandiseTo record cost of the July 19 sale.21 Sales Returns and Allowances (200)Receivable—Surtis (200)AccountsIssued credit memo for allowance ongoods sold to customer.24 Accounts Payable—Kew..................................2,000Inventory* (20)MerchandiseCash............................................................1,980 Paid payable in discount period. *($2,000 x 1%)30 Cash (990)Discounts* (10)SalesReceivable—Surtis...................1,000 AccountsCollected receivable within discount period.1%)x*($1,00031 Accounts Receivable—Driver.......................... 6,900Sales............................................................6,900 Sold goods on credit.31 Cost of Goods Sold...........................................5,200Inventory..............................5,200 MerchandiseTo record cost of the July 31 sale.©McG278Problem 5-2A (60 minutes)Part 1Adjustment (a)Jan 31 Store Supplies Expense...................................2,950Supplies............................................2,950 StoreTo record store supplies expense($5,500 - $2,550).Adjustment (b)Jan 31 Insurance Expense............................................1,450PrepaidInsurance......................................1,450 To record expired insurance.Adjustment (c)Jan 31 Depreciation Expense—Store Equip...............1,975Accumulated Depreciation—Store Equip.. 1,975 To record depreciation expense.Adjustment (d)Jan 31 Cost of Goods Sold...........................................2,700Inventory..............................2,700 MerchandiseTo adjust inventory for shrinkage$10,300).-($13,000©McGraw-Hill Companies, 2009Solutions Manual, Chapter 5 279Part 2 Multiple-step income statementHELIX COMPANYIncome StatementFor Year Ended January 31, 2009Sales.........................................................................$115,800 Less: Sales discounts............................................$ 1,900Sales returns and allowances..................... 2,300 4,200 Net sales...................................................................111,600 Cost of goods sold*................................................ 40,700 Gross profit..............................................................70,900 ExpensesSelling expensesDepreciation expense—Store equipment...........1,975Sales salaries expense**......................................13,700Rent expense—Selling space**............................7,500Store supplies expense........................................2,950Advertising expense ............................................ 9,700Total selling expenses..........................................35,825General and administrative expensesInsurance expense................................................1,450Office salaries expense........................................13,700Rent expense—Office space................................ 7,500Total general and administrative expenses........ 22,650Total expenses...................................................... 58,475 Net income...............................................................$ 12,425* $40,700 = $38,000 + $2,700 (shrinkage)**Salaries and rent expenses are equally divided between selling activitiesand general and administrative activities.©McG280Part 3 Single-step income statementHELIX COMPANYIncome StatementFor Year Ended January 31, 2009Net sales................................................................ $111,600 ExpensesCost of goods sold.......................................... $40,700Selling expenses............................................. 35,825*General and administrative expense............. 22,650*Total expenses................................................ 99,175 Net income............................................................ $ 12,425 *From Part 2P art 4Current assetsCash............................................................................$ 28,750Merchandise inventory..............................................10,300Store supplies............................................................2,550Prepaid insurance...................................................... 950*Total current assets...................................................$ 42,550Current liabilities...........................................................$ 14,000Current ratio ($42,550 / $14,000)....................................... 3.04*$2,400 - $1,450 = $950Quick assets (Cash)......................................................$ 28,750Current liabilities...........................................................$ 14,000Acid-test ratio ($28,750 / $14,000).................................... 2.05Net Sales........................................................................$111,600Cost of Goods Sold....................................................... 40,700Gross margin.................................................................$ 70,900Gross margin ratio ($70,900 / $111,600)...........................63.5%©McGraw-Hill Companies, 2009 Solutions Manual, Chapter 5 281P roblem 5-3A (40 minutes)1. Net salesSales............................................................................... $297,540Less: Sales discounts................................................. (4,552)Sales returns and allowances......................... (19,637) Net sales........................................................................ $273,3512. Cost of Merchandise purchasedInvoice cost of merchandise purchased.................... $127,890Purchase discounts received...................................... (2,685)Purchase returns and allowances............................... (6,138)Costs of transportation-in............................................ 3,900Total cost of merchandise purchased........................ $122,967Problem 5-3A (Continued)3. Multiple-step income statementRUSIO COMPANYIncome StatementFor Year Ended August 31, 2009$297,540 Sales..............................................................................Less: Sales discounts................................................. $ 4,552Sales returns and allowances......................... 19,637 24,189Net sales....................................................................... 273,351Cost of goods sold *.................................................... 114,571Gross profit.................................................................. 158,780 ExpensesSelling expensesSales salaries expense............................................ 40,762Rent expense—Selling space................................. 13,984Store supplies expense........................................... 3,570Advertising expense................................................ 25,290Total selling expenses............................................ 83,606General and administrative expensesOffice salaries expense........................................... 37,192©McG282Rent expense—Office space .................................. 3,570 Office supplies expense.......................................... 1,190 41,952 Total general and administrative expenses..........Total expenses...........................................................125,558Net income.................................................................... $ 33,222*Cost of goods sold (alternative computation):.................. $ 35,104Merchandise inventory, August 31, 2008.......... Total cost of merchandise purchased (from part 2).......... 122,967Merchandise available for sale............................................. 158,071 Merchandise inventory, August 31, 2009............................ 43,500Cost of goods sold................................................................ $114,571roblem 5-3A (Concluded). Single-step income statementP 4RUSIO COMPANYIncome StatementFor Ye , 2009ar Ended August 31Net sales.................. $273,351 ods sold.................................................. $114,571................................................... ExpensesCost of go Selling expenses..................................................... 83,606 General and administrative expenses................... 41,952240,129Total expenses ........................................................Net income.................................................................. $ 33,222 ©McGraw-Hill Companies, 2009Solutions Manual, Chapter 5 283。
会计专业英语会计专业英语教学进度表
江西财经大学本科课程教学进度计划表
2012 —2013 学年度第1 学期
主讲教师江陵职称学历研究生学位博士适用专业会计学
课程名称会计专业英语课程编号班级学生人数上课时间10：20-12：00 上课教室
总学时32 学时，其中课堂讲授30 学时；实验（上机）教学学时；其它教学（讨论、见习等）学时；机动 2 学时
实习实训（包括课程实习、课程实训、课程设计等）周
教材（名称、主编、出版社、出版时间等）
（美）约翰·J·怀尔德、肯·W·肖、巴巴拉·基亚佩塔著：《会计学原理》（19版）；崔学刚、饶菁改编：中国人民大学出版社，2009年7月主要参考书
《会计学原理》（第19版）（工商管理经典译丛·会计与财务系列），约翰·J·怀尔德、肯·W·肖等著，中国人民大学出版社，2012年1月
成绩考核说明及要求：平时分（考勤、课堂讨论）占20%，考试占80%。
采取闭卷考试方式。
其成绩评定方法：平时分占20%，考试占80%。
考试题型：翻译、阅读、选择、计算、作文
考试时间： 110分钟
系主任（签字）：教学院长（签字）：2012年9 月1 日 2012年 9月 1 日。
怀尔德《会计学原理》19版答案（10）
怀尔德《会计学原理》19版答案（10）Chapter 11Current Liabilities and Payroll AccountingQUICK STUDIESQ uick Study 11-1 (5 minutes)Items 3, 4, 5 and 6 are current liabilities for this company. Quick Study 11-2 (10 minutes)Oct. 31 Cash................................................................7,500,000 Unearned Ticket Revenue.......................7,500,000To record sales in advance of concerts.Nov. 5 Unearned Ticket Revenue.............................1,500,000 Earned Ticket Revenue...........................1,500,000To record concert revenues earned.($7,500,000 / 5 dates = $1,500,000)Quick Study 11-3 (10 minutes)Sept. 30 Cash................................................................12,720 Sales.........................................................12,000Sales Taxes Payable (720)To record cash sales and 6% sales tax.Sept. 30 Cost of Goods Sold.......................................7,800 Merchandise Inventory...........................7,800To record cost of Sept. 30th sales., 2009605Oct. 15 Sales Taxes Payable (720)Cash (720)To record remittance of sales taxes to govt.Q uick Study 11-4 (15 minutes)1. Computation of interest payable at December 31, 2009:Days from November 7 to December 31....................54 days Accrued interest (8% x $80,000 x 54/360)..................$9602. 2009Dec.31 Interest Expense (960)Interest Payable (960)To record accrued interest (8% x $80,000 x 54/360).3. 2010Feb. 5 Interest Expense* (640)Payable (960)Interest Payable........................................................80,000Notes Cash................................................................. 81,600To record payment of note plus interest*(8% x $80,000 x 36/360).Quick Study 11-5 (15 minutes)[Note: Two months (January and February) of earnings have already been recorded for each of the 5 employees.] Mar. 31 Payroll Taxes Expense...........................................1,457.50 FICA—Social Security Taxes Payable1........... 930.00 FICA—Medicare Taxes Payable2...................... 217.50State Unemployment Taxes Payable3............. 270.00 Federal Unemployment Taxes Payable4......... 40.00To record employer payroll taxes.1$15,000 x 6.2% = $930.002$15,000 x 1.45% = $217.503[5 x ($7,000 - ($3,000 x 2))] x 5.4% = $270.004[5 x ($7,000 - ($3,000 x 2))] x 0.8% = $40.00Quick Study 11-6 (5 minutes)Vacation Benefits Expense* (250)Vacation Benefits Payable (250)To record vacation benefits accrued.* ($3,250 - $3,000)McG606Quick Study 11-7 (5 minutes)Dec. 31 Employee Bonus Expense....................................15,000 Bonus Payable............................................... 15,000To record expected bonus costs.Q uick Study 11-8 (10 minutes)2009July 24 Estimated Warranty Liability (55)Repair Parts Inventory (55)To record cost of warranty repairs.Quick Study 11-9 (10 minutes)1. (b); reason—is reasonably estimated but not a probable loss.2. (b); reason—probable loss but cannot be reasonably estimated.3. (a); reason—can be reasonably estimated and loss is probable.EXERCISESExercise 11-1 (10 minutes)9. C1. C 3. L 5. C 7. C2. C 4. N 6. L 8. C 10. CE xercise 11-2 (15 minutes)[Note: All entries dated December 31, 2009.]Expense....................................................3,4441. WarrantyEstimated Warranty Liability............................3,444To record warranty expense [4,100 units x 6% x $14].2. No adjusting entry can be made since the loss cannot be reasonablyestimated. Disclosure of the suit as a contingent liability should be made in the notes to the financial statements., 20096073. Vacation Benefits Expense.....................................2,940Vacation Benefits Payable................................2,940To record vacation benefits expense[28 employees x 1 day x $105].4. No adjusting entry is required since it is not probable that the supplier willdefault on the debt. The guarantor, Madison Company, should describe theguarantee in its financial statement notes as a contingent liability.5. Cash...........................................................................556,400Sales.....................................................................520,000Sales Taxes Payable...........................................36,400To record sales and sales taxes.Cost of Goods Sold...................................................260,000Merchandise Inventory.......................................260,000To record cost of sales.Revenue....................................104,0006. UnearnedServicesEarned Services Revenue..................................104,000To record product revenue earned.Exercise 11-3 (15 minutes)1. B = 0.04 ($1,300,000 – B)B = $52,000 – 0.04B1.04B = $52,000$50,000B =2.2009Dec. 31 Employee Bonus Expense................................50,000Bonus Payable...........................................50,000To record expected bonus costs.3.2010Jan. 19 Bonus Payable....................................................50,000Cash............................................................50,000 To record payment of bonus.Exercise 11-4 (30 minutes)1. Maturity date = May 15 + 180 days = November 11, 2009McG608May 15 Cash........................................................................137,000Notes Payable.................................................. 137,000Borrowed cash by issuing an interest-bearing note.2b.Nov 11 Interest Expense*..................................................6,165Payable........................................................137,000NotesCash.................................................................. 143,165Repaid note plus interest.*Principal.....................$137,000x Interest rate................9%x Fraction of year.......... 180/360Total interest.................$ 6,165Exercise 11-5 (30 minutes)1. Maturity date = November 1 + 180 days = April 30, 2010.2. Principal.........................................................................$240,000Interestrate.................................................................10%xx Fraction of year (Nov. 1 – Dec. 31)............................ 60/360Total interest in 2009....................................................$ 4,0003. Principal.........................................................................$240,000rate.................................................................10%xInterestx Fraction of year (Jan. 1 – Apr. 30)............................. 120/360Total interest in 2010....................................................$ 8,0004a.2009Nov. 1 Cash........................................................................240,000Notes Payable.................................................. 240,000Borrowed cash by issuing an interest-bearing note.4b.2009Dec. 31 Interest Expense.................................................... 4,000Interest Payable............................................... 4,000Accrued interest on note payable.McGraw-Hill Companies, 2009 Solutions Manual, Chapter 11 609Apr. 30 Interest Expense....................................................8,000Payable.....................................................4,000InterestPayable........................................................240,000NotesCash.................................................................. 252,000Repaid note plus interest.Exercise 11-6 (20 minutes)Subjectto Tax Rate Tax Explanationa.FICA--Social Security............$2,100 6.20%$130.20Full amount is subject to tax. FICA—Medicare.....................2,100 1.4530.45Full amount is subject to tax. FUTA...........................................1,1000.808.80$1,000 is over the maximum. SUTA...........................................1,100 2.9031.90$1,000 is over the maximum.b. FICA--Social Security............$2,500 6.20%$155.00Full amount is subject to tax. FICA—Medicare.....................2,500 1.4536.25Full amount is subject to tax. FUTA...........................................00.800.00Full amount is over maximum. SUTA...........................................0 2.900.00Full amount is over maximum.c. FICA--Social Security............$6,300 6.20%$390.60$1,100 is over the maximum. FICA—Medicare.....................7,400 1.45107.30Full amount is subject to tax. FUTA...........................................00.800.00Full amount is over maximum. SUTA...........................................0 2.900.00Full amount is over maximum.610E xercise 11-7 (20 minutes)(1)Sept. 30 Salaries Expense...................................................2,100.00 FICA—Social Security Taxes Payable........... 130.20FICA—Medicare Taxes Payable..................... 30.45Employee Federal Income Taxes Payable......250.00Salaries Payable.............................................. 1,689.35To record payroll for pay period ended September 30.(2)Sept. 30 Payroll Taxes Expense..........................................201.35 FICA—Social Security Taxes Payable........... 130.20FICA—Medicare Taxes Payable..................... 30.45Federal Unemployment Taxes Payable......... 8.80State Unemployment Taxes Payable............. 31.90To record employer payroll taxes.Exercise 11-8 (25 minutes)1. Warranty Expense = 3% of dollar sales = 3% x $9,400 = $2822. The December 31, 2009, balance of the liability equals the expensebecause no repairs are provided in 2009. Therefore, the ending balance of the Estimated Warranty Liability account is $282.3. The company should report no additional warranty expense in 2010 forthis copier.4. The December 31, 2010, balance of the Estimated Warranty Liabilityaccount equals the 2010 beginning balance minus the costs incurred in 2010 to repair the copier:Ending 2009 balance..........................................................$ 282Less parts cost (125)Ending 2010 balance..........................................................$ 157McGraw-Hill Companies, 2009 Solutions Manual, Chapter 11 6115. Journal entries2009 (a)Aug. 16 Cash.........................................................................9,400 Sales..................................................................9,400To record cash sale of copier.Aug. 16 Cost of Goods Sold................................................6,500 Merchandise Inventory....................................6,500To record cost of August 16 sale.(b)Dec. 31 Warranty Expense (282)Estimated Warranty Liability (282)To record warranty expense for copier sold in 2009.2010 (c)Nov. 22 Estimated Warranty Liability (125)Repair Parts Inventory (125)To record cost of warranty repairs.McG612PROBLEM SET AProblem 11-1A (45 minutes)Locust Natl. Bank Fargo1. Maturity datesDate of the note........................May 19July 8 Nov. 28Term of the note (in days).......120120 60date.............................Sept. 16Nov. 5 Jan. 27Maturity2. Interest due at maturityPrincipal of the note................$ 39,000$120,000 $60,000Annual interest rate.................9%8.5% 8%year........................ 120/360 120/360 60/360ofFractionexpense.......................$ 1,170$ 3,400 $ 800Interest3. A ccrued interest on Fargo note at the end of 2008Total interest for note.................................................... $ 800Fraction of term in 2008................................................ 33/60Accrued interest expense............................................. $ 4404. Interest on Fargo note in 2009Total interest for note.................................................... $ 800Fraction of term in 2009................................................ 27/60Interest expense in 2009............................................... $ 360McGraw-Hill Companies, 2009 Solutions Manual, Chapter 11 613P roblem 11-1A (Concluded)5.2008Apr. 20 Merchandise Inventory........................................48,250Accounts Payable—Locust........................... 48,250Purchased merchandise on credit.May 19 Accounts Payable—Locust.................................48,250Cash................................................................. 9,250Notes Payable—Locust.................................. 39,000Paid $9,250 cash and gave a 120-day,9% note to extend due date on account.July 8 Cash.......................................................................120,000 Notes Payable—National............................... 120,000 Borrowed cash with a 120-day, 8.5% note.Sept. 16 Interest Expense...................................................1,170 Payable—Locust........................................39,000Notes Cash................................................................. 40,170Paid note with interest.Nov. 5 Interest Expense...................................................3,400 Payable—National.....................................120,000Notes Cash................................................................. 123,400Paid note with interest.28 Cash.......................................................................60,000 Notes Payable—Fargo Bank.......................... 60,000 Borrowed cash with 60-day, 8% note.Dec. 31 Interest Expense (440)Interest Payable (440)Accrued interest on note payable.2009Jan. 27 Interest Expense (360)Notes Payable—Fargo Bank................................60,000 (440)InterestPayable Cash................................................................. 60,800Paid note with interest.McGraw-Hill Companies, 2009Fundamental Accounting Principles, 19th Edition 6141.2008Nov. 11 Cash..........................................................................4,500 Sales...................................................................4,500Sold razors to customers.11 Cost of Goods Sold.................................................1,200Merchandise Inventory.....................................1,200To record cost of November 11 sale (75 x $16).30 Warranty Expense (315)Estimated Warranty Liability (315)To record razor warranty expenseand liability at 7% of selling price.Dec. 9 Estimated Warranty Liability (240)Merchandise Inventory (240)To record cost of razor warrantyreplacements (15 x $16).16 Cash..........................................................................12,600Sales...................................................................12,600Sold razors to customers.16 Cost of Goods Sold.................................................3,360Merchandise Inventory.....................................3,360To record cost of December 16 sale (210 x $16).29 Estimated Warranty Liability (480)Merchandise Inventory (480)To record cost of razor warrantyreplacements (30 x $16).31 Warranty Expense (882)Estimated Warranty Liability (882)To record razor warranty expenseand liability at 7% of selling price., 20096152009Jan. 5 Cash..........................................................................7,800Sales...................................................................7,800Sold razors to customers.5 Cost of Goods Sold.................................................2,080Merchandise Inventory.....................................2,080To record cost of January 5 sale (130 x $16).17 Estimated Warranty Liability (560)Merchandise Inventory (560)To record cost of razor warrantyreplacements (35 x $16).31 Warranty Expense (546)Estimated Warranty Liability (546)To record razor warranty expenseand liability at 7% of selling price.2. Warranty expense for November 2008 and December 2008Sales Percent Warranty Expense November.................$ 4,500 7%$ 315December.................. 12,6007 882Total..........................$17,100$1,197expense for January 20093. WarrantySales in January...........................$ 7,800Warranty percent.......................... 7%Warranty expense........................$ 5464. Balance of the estimated liability as of December 31, 2008Warranty expense for November...................................$ 315creditWarranty expense for December...................................882 credit Cost of replacing items in December (45 x $16).......... (720)debitEstimated Warranty Liability balance............................$ 477 credit5. Balance of the estimated liability as of January 31, 2009Beginning balance.......................................................... $ 477 credit credit Warranty expense for January (546)Cost of replacing items in January (35 x $16).............. (560)debitEstimated Warranty Liability balance........................... $ 463 creditMcG6161. Each employee’s FICA withholdings for Social SecurityDahlia Trey Kiesha Chee Total Maximum base.............$102,000$102,000$102,000$102,000Earned through 8/18.... 100,500 31,850 6,260 1,000W ould-be subject to tax..$ 1,500$ 70,150$ 95,740$101,000 Earned this week.......... $ 3,600$ 1,275$ 1,440 $ 400Pay subject to tax......... 1,5001,2751,440 400Tax rate......................... 6.20% 6.20% 6.20% 6.20%Social Security tax....... $ 93.00$ 79.05$ 89.28 $ 24.80 $286.132. Each employee’s FICA withholdings for Medicare (no limits)Dahlia Trey Kiesha Chee Total Earned this week..........$ 3,600$ 1,275$ 1,440$ 400Tax rate......................... 1.45% 1.45% 1.45% 1.45% Medicare tax.................$ 52.20$ 18.49$ 20.88$ 5.80$ 97.373. Employer’s FICA taxes for Social SecurityDahlia Trey Kiesha Chee Total Amount from part 1......$ 93.00$ 79.05$ 89.28$ 24.80$286.134. Employer’s FICA taxes for MedicareDahlia Trey Kiesha Chee Total Amount from part 2......$ 52.20$ 18.49$ 20.88$ 5.80$ 97.37, 2009617P roblem 11-4A (Concluded)5. Employer’s FUTA taxesDahlia Trey Kiesha Chee Total Maximum base..............$ 7,000$ 7,000$ 7,000$ 7,000Earned through 8/18..... 100,500 31,850 6,260 1,000W ould-be subject to tax...007406,000Earned this week.........$ 3,600$ 1,275$ 1,440$ 400Pay subject to tax (00740400)Tax rate........................ 0.8% 0.8% 0.8% 0.8%FUTA tax......................$ 0.00$ 0.00$ 5.92$ 3.20 $ 9.12 6. Employer’s SUTA taxesDahlia Trey Kiesha Chee T otal Subject to tax (from 5)$ 0$ 0$ 740$ 400Tax rate........................ 2.15% 2.15% 2.15% 2.15%SUTA tax......................$ 0.00$ 0.00$ 15.91$ 8.60 $ 24.51 7. Each employee’s net (take-home) payDahlia Trey Kiesha Chee Total Gross earnings.............$3,600.00 $1,275.00$1,440.00$400.00$6,715.00 LessFICA Social Sec. tax....(93.00)(79.05)(89.28)(24.80)(286.13) FICA Medicare taxes.... (52.20)(18.49)(20.88) (5.80)(97.37) Withholding taxes........ (450.00)(140.00)(173.00) (36.00)(799.00) Health insurance.......... (11.00) (11.00) (11.00) (11.00) (44.00) Take-home pay............. $2,993.80$1,026.46$1,145.84 $322.40$5,488.50 8. Employer’s total payroll-related expense for each employeeDahlia Trey Kiesha Chee T otal Gross earnings..............$3,600.00 $1,275.00$1,440.00$400.00$6,715.00 PlusFICA Social Sec. tax......93.0079.0589.2824.80286.13 FICA Medicare taxes.....52.2018.4920.88 5.80 97.37 FUTA tax.........................0.000.00 5.92 3.20 9.12 SUTA tax.........................0.000.0015.91 8.60 24.51 Health insurance............11.0011.0011.00 11.00 44.00 Pension contrib. (8%).... 288.00 102.00 115.20 32.00 537.20 Total payroll expense....$4,044.20$1,485.54$1,698.19 $485.40 $7,713.33?McG 618Problem 11-4A (25 minutes)Part 1Jan. 8 Office Salaries Expense...................................27,760Sales Salaries Expense....................................70,240FICA—Social Sec. T axes Payable*........... 6,076FICA—Medicare Taxes Payable**............. 1,421Employee Fed. Inc. Taxes Payable........... 13,360Employee Medical Insurance Payable...... 1,350Employee Union Dues Payable (840)Salaries Payable......................................... 74,953To record payroll for period.* $98,000 x 6.2%** $98,000 x 1.45%P art 2Jan. 8 Payroll Taxes Expense.....................................13,181FICA—Social Sec. T axes Payable............. 6,076FICA—Medicare Taxes Payable................ 1,421State Unemployment Taxes Payable*....... 4,900F ederal Unemployment Taxes Payable** (784)To record employer payroll taxes.* $98,000 x .05 = $4,900**$98,000 x .008 = $784McGraw-Hill Companies, 2009 Solutions Manual, Chapter 11 619。
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Jul. 31 Cash 500 Accounts Receivable - Webster
500
To record cash collections on account
Cash Accounts Receivable - Matrix
800 800
To record cash collections on account
© The McGraw-Hill Companies, Inc., 2007
C1
Sales on Credit
On July 31, Barton, Co. collects $500 from Webster, Co., and $800 from Matrix, Inc. on account.
Chapter 9
Accounting for Receivables
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Conceptual（概念上的） （概念上的） Learning Objectives
C1: Describe accounts receivable and how they occur and are recorded C2: Describe a note receivable and the computation of its maturity（到期） date and interest C3: Explain how receivables can be converted to（转 变为） cash before maturity
Accounting for bad debts that result from credit sales.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
C1
Recognizing Accounts Receivable
$20.5 Mil.
On July 16, 2007, Barton, Co. has a bank credit card sale of $500 to a customer. The bank charges a processing fee of 2%. Barton remits the credit card sale to the credit card company and waits for the payment that is received on July 28.
950 950
To record credit sales to Webster Co.
Accounts Receivable - Matrix Sales
1,000 1,000
To record credit sales to M atrix, Inc.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
McGraw-Hill/Irwin
© The McGraw-Hill Inc., 2007
Procedural Learning Objectives
P1: Apply the direct write-off and allowance methods to account for accounts receivable P2: Estimate uncollectibles using methods based on sales and accounts receivable P3: Record the receipt of a note receivable P4: Record the honoring and dishonoring of a note and adjustments for interest
Jul. 16 Cash Credit Card Expense Sales
and fees
McGraw-Hill/Irwin
490 10 500
To record credit card sales
© The McGraw-Hill Companies, Inc., 2007
C1
Credit Card Sales
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
C1
Accounts Receivable
Amounts due from customers for credit sales. Credit sales require: Maintaining a separate account receivable for each customer.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
C1
Sales on Credit
Accounts Receivable Ledger
Webster, Co. Date PR Debit Credit Jul. 16 950 Jul. 31 500 Balance 950 450
Matrix, Inc. Date PR Debit Credit Jul. 16 1,000 Jul. 31 800
Schedule of Accounts Receivable Webster, Co. $ 450 Matrix, Inc. 200 Total $ 650
Balance 1,000 200
DR 490 10 CR
Jul. 16 Accounts Receivable - Credit Card Co. Credit Card Expense Sales
To record credit card sales and fees.
500 490
Jul. 28 Cash Accounts Receivable - Credit Card Co.
C1
Sales on Credit
On July 16, Barton, Co. sells $950 of merchandise on credit to Webster, Co., and $1,000 of merchandise on account to Matrix, Inc.
Jul. 16 Accounts Receivable - Webster Sales
General Ledger
Accounts Receivable Date PR Debit Credit Balance Jul. 16 1,950 1,950 Jul. 31 1,300 650
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
490
To record receipt from credit card company
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
C1
Installment Accounts Receivable
Amounts owed by customers from credit sales for which payment is required in periodic（周期的） amounts over an extended time period. The customer is usually charged interest.
C1
Sales on Credit
Accounts Receivable Ledger
Webster, Co. Date PR Debit Credit Jul. 16 950 Balance 950
Schedule of Accounts Receivable Webster, Co. $ 950 Matrix, Inc. 1,000 Total $ 1,950
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
P1
Valuing Accounts Receivable
Some customers may not pay their account. Uncollectible amounts are referred to as bad debts. There are two methods of accounting for bad debts: Direct Write-Off Method Allowance Method
Abercrombie & Fitch
2.7% 12% 20% 33%
10% 15% 20% 25% 30% 35%
Pfizer $5.785 Mil. Skechers $97.4 Mil. Huffy $92.9 Mil.
0% 5%
As a percentage of total assets
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
C1
Credit Card Sales
Advantages of allowing customers to use credit cards:
Customers’ credit is evaluated by the credit card issuer.
Sales increase by providing purchase options to the customer. Cash collections are quicker.