英文版-清华大学-会计学基础-Chapter02

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(a) Papa John’s issues $2,000 of additional common stock to new investors for cash.
Identify & Classify the Accounts Identify & Classify the Accounts
A = L + SE
(Liabilities)
(Stockholders’ Equity)
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Duality of Effects
Most transactions with external parties involve an exchange where the business entity gives up something but receives something in return.
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Balancing the Accounting Equation

Accounts and effects


Identify the accounts affected and classify them by type of account (A, L, SE). Determine the direction of the effect (increase or decrease) on each account. Verify that the accounting equation (A = L + SE) remains in balance.
Cash Investments 2,000 6,000 Equip. Notes Receivable Notes Payable 6,000 Contributed Capital 2,000
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Retained Earnings
(a) (b) (c)
Effect
=
A = L + SE
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The Balance Sheet Assets
Cash Short-Term Investment Accounts Receivable Notes Receivable Inventory (to be sold) Supplies Prepaid Expenses Long-Term Investments Equipment Buildings Land Intangibles
Liabilities
Accounts Payable Accrued Expenses Notes Payable Taxes Payable Unearned Revenue Bonds Payable
Stockholders’ Equity
Contributed Capital Retained Earnings
Identify & Classify the Accounts Identify & Classify the Accounts
Determine the Direction of the Effect
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(b) The company borrows $6,000 from the local bank, signing a three-year note.
Chapter 2
Investing and Financing Decisions and the Balance Sheet
Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
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Understanding the Business
How do specific activities affect each balance?
How do companies keep track of balance sheet amounts?
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Learning Objectives
What business activities cause changes in the balance sheet?
Loss due to fire damage.
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Nature of Business Transactions
Are they transactions?
(1) Take orders from customer
(2) Air China receives $500 on May 21, 2006, for the flight on August 2, 2006 (3) Property, plant and equipment are used to make products
Notes Receivable Notes Payable Contributed Capital Retained Earnings
Cash (a)
Investments
Equip.
Effect
=
A = L + SE
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(b) The company borrows $6,000 from the local bank, signing a three-year note.
To understand amounts appearing on a company’s balance sheet we need to answer these questions:
What business activities cause changes in the balance sheet?
Apply transaction analysis to simple business transactions in terms of the accounting model: Assets = Liabilities + Stockholders’ Equity
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Principles of Transaction Analysis

Balancing

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Balancing the Accounting Equation
Let’s see how we keep the accounting equation in balance for Papa John’s.
All amounts we use are expressed in thousands of dollars.
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Understanding the Business
To understand amounts appearing on a company’s balance sheet we need to answer these questions:
What business activities cause changes in the balance sheet?
Borrow cash
from the bank
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Nature of Business Transactions
Internal events: not an exchange between the business and other parties, but have a direct effect on the accounting entity.
Notes Receivable Notes Payable Contributed Capital 2,000 Retained Earnings
(a) (b)
Cash Investments 2,000
Equip.
Effect
=
A = L + SE
(c) Papa John’s purchases $10,000 of new equipment, paying $2,000 in cash and signing a two-year note payable for the rest.
Every transaction affects at least two accounts (duality of effects). The accounting equation must remain in balance after each transaction.
(Assets)
(d) Papa John’s lends $3,000 to new franchisees who sign five-year notes agreeing to repay the loan.
Identify & Classify the Accounts
Determine the Direction of the Effect
Determine the Direction of the Effect Determine the Direction of the Effect
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(a) Papa John’s issues $2,000 of additional common stock to new investors for cash.
How do specific activities affect each balance?
How do companies keep track of balance sheet amounts?
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Learning Objectives
How do transactions affect each balance?
Identify & Classify the Accounts
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Determine the Direction of the Effect
(c) Papa John’s purchases $10,000 of new equipment, paying $2,000 in cash and signing a two-year note payable for the rest.
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Accounts (帐户)
An organized format used by companies to accumulate the dollar effects of transactions.
Cash
Inventory
Equipment
Notes Payable
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Typical Account Titles
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(d) Papa John’s lends $3,000 to new franchisees who sign five-year notes agreeing to repay the loan.
(a) (b) (c) (d) Cash Investments 2,000 6,000 (2,000) Equip. Notes Receivable Notes Payable 6,000 8,000 Contributed Capital 2,000 Retained Earnings
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Typical Account Titles
The Income Statement Revenues
Sales Revenue Fee Revenue Interest Revenue Rent Revenue
Expenses
Cost of Goods Sold Wages Expense Rent Expense Interest Expense Depreciation Expense Advertising Expense Insurance Expense Repair Expense Income Tax Expense

Accounting focuses on the events that have an economic impact on the entity, called transaction.
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Nature of Business Transactions
External events: exchanges of assets and liabilities between the business and one or more other parties.