对外经贸会计专业第六章

Slide6-1ACCOUNTINGFORMERCHANDISINGACTIVITIESChapter6Slide6-2OperatingCycleofaMerchandisingCompanyOperatingcycle营业周期---Theaverageperiodbetweenthepurchaseofmerchandiseandtheconversionofthismerchandisebackintocash.Slide6-3OperatingCycleofaMerchandisingCompany2.SaleofmerchandiseonaccountCashInventoryAccountsReceivableSlide6-4ComparingMerchandisingActivitieswithManufacturingActivitiesMerchandisingCompanyPurchaseinventoryinready-to-sellcondition.ManufacturingCompanyManufactureinventoryandhavealongerandmorecomplexoperatingcycleSlide6-5IncomeStatementofaMerchandisingCompanyComputerBarnCondensedIncomeStatementFortheYearEndedDecember31,2002Revenuefromsales900,000$Less:Costofgoodssold540,000Grossprofit360,000$Less:Expenses270,000Netincome90,000$Costofgoodssold销货成本representstheexpenseofgoodsthataresoldtocustomers.Grossprofitisausefulmeansofmeasuringtheprofitabilityofsalestransactions.Slide6-6WhatAccountingInformationDoesaMerchandisingCompanyNeed?FinancialReportingRequirementsDailyBusinessOperatingRequirementsSpecialReportingRequirementsExamples•Revenues•Expenses•CustomerLedgers•TaxReportsSlide6-7GeneralLedgerAccountsGeneralLedgerAccountsReceivableDateDebitCreditBalance2001June110,00010,000153,0007,000Althoughgeneralledgeraccountsprovideusefulinformation,theydonotprovidemuchofthedetailedinformationneededinthedailybusinessoperations.Whoowesusmoney?Slide6-8SubsidiaryLedgers明细分类账:ASourceofNeededDetailsSubsidiaryLedgerHeatherJacobsDateDebitCreditBalance2001June17,0007,000152,0005,000GeneralLedgerAccountsReceivableDateDebitCreditBalance2001June110,00010,000153,0007,000SubsidiaryLedgerJakeSparksDateDebitCreditBalance2001June13,0003,000151,0002,000ControllingAccount统制账户Slide6-9SubsidiaryLedgersAccountsreceivable(subsidiary)ledger应收账款明细账--AlistofallthechargecustomersandtheirrespectivebalanceAccountspayable(subsidiary)ledger应付账款明细账--AlistofallsuppliersandtheirrespectivebalanceInventorysubsidiaryledger存货明细账(p.227)--separateaccountforeachtypeofproductinthecompany’sinventorySlide6-10SubsidiaryLedgersAccountsreceivableledgerName:___________________________________________Address:_________________________________________DateItemPostDebitCreditBalanceRef.Slide6-11ControllingAccountintheGeneralLedgerUnitofOrganizationWithintheSubsidiaryLedgerInventoryEachtypeofproductofferedforsalePlantassetsEachasset(orgroupofsimilarassets)AccountspayableEachcreditorCapitalstockEachstockholderSalesEachdepartment,branchlocation,orproductlineCostofgoodssoldSameorganizationasthesalesledgerManyexpenseaccountsEachdepartmentincurringthesetypesofexpensesPayrollexpensesEachemployeeSlide6-12TwoApproachesUsedinAccountingforMerchandiseTransactionsPerpetualInventorySystemPeriodicInventorySystemSlide6-13PerpetualInventorySystem永续盘存制Theinventoryaccountiscontinuouslyupdatedtoreflectitemsonhand.Let’slookatsomeentries!Slide6-14PerpetualInventorySystemOnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.5Inventory3,000AccountsPayable(ElectronicCity)3,000Slide6-15PerpetualInventorySystemOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.10AccountsReceivable(ABCRadios)500Sales50010CostofGoodsSold300Inventory30010*$30=$300Slide6-16PerpetualInventorySystemGENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.10AccountsReceivable(ABCRadios)500Sales50010CostofGoodsSold300Inventory300CostRetailOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.Slide6-17PerpetualInventorySystemOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.15AccountsPayable(ElectronicCity)3,000Cash3,000Slide6-18PerpetualInventorySystemOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.GENERALJOURNALDateAccountTitlesandExplanationDebitCreditSept.22Cash500AccountsReceivable(ABCRadios)500Slide6-19TheInventorySubsidiaryLedgerAttheendoftheperiod,managementcomparesthephysicalinventorycount实地盘存withtheinventoryledgertodetermineinventoryshrinkage存货损耗.ItemLL002PrimarysupplierElectronicCityDescriptionLaserLightSecondarysupplierElectricCompanyLocationStoreroom2Inventorylevel:Min:25Max:200PurchasedSoldBalanceDateUnitsUnitCostTotalUnitsUnitCostCostofGoodsSoldUnitsUnitCostTotalSept.510030$3,000$10030$3,000$Sept.101030$300$90302,700PerpetualInventoryMethodInventoryAccountPayableAssetO’ELiabilityRevenueExpense=+-++-CostofgoodsoldSales-++--=+Sep.53000Sep.53000Sep.10500Sep.10500Sep.10300Purchase100units,30$@sales10units,50$@Sep.10300AccountRec.++-Slide6-21TakingaPhysicalInventoryInordertoensuretheaccuracyoftheirperpetualrecords,mostbusinessestakeacompletephysicalcountofthemerchandiseonhandatleastonceayear.Slide6-22TakingaPhysicalInventoryGENERALJOURNALDateAccountTitlesandExplanationDebitCreditDec.31CostofGoodsSold2,000Inventory2,000Reasonableamountsofinventoryshrinkageareviewedasanormal