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专业英语分录练习1.Jan.1TheownerofJohnsoncompany,Mr.Deepandhisfriends,invested75000incash,Landvaluing50000andEquipmentAvaluing73000intothecompany.Dr.CashLandEquipmentACr.Capital2.Jan.1JohnsonCompanyreceivealong-termbankloanof60000.Thebankagreedtolendthemoneytoitfor3yearswiththeannualinterestrateof12%andtheinterestshallbepaidannuallyattheyearendswhiletheprincipalshouldbepaidbackattheendofthethirdyear.HowdidthecompanymaketheentryonDec.31?Jan1Dr.cash60000Cr.Loan60000Dec31Dr.interestexpense600Interestpayable6600Cr.Cash72003.Jan1Buythebusinessinsuranceforoneyearcosting24000,thebillhasnotpaidyet.Dr.prepaidinsurance/unexpiredinsurance24000Cr.Accountpayable240004.Jan.2JohnsonCompanypurchased10000rawmaterialsoncreditandthesupplieragreetocollectcashonemonthlater.Dr.rawmaterials10000Cr.Accountpayable100005Jan6Thecompanyboughtacompanycarat11000forcashandcost1000fortransportation.Dr.Car12000Cr.Cash120006.Jan.7Thecompanypaidtothemanufacturingworkers10000(alldirect)andadministrativestaffs4500(nonmanufacturing).Dr.manufacturingpayroll10000Salaryexpenses4500Cr.Cash145007.Jan.8Companymovedallthefinishedgoods,withthecostof45500,intowarehousereadyforsale.Dr.finishedgoods45500Cr.Workinprocess455008.Jan11Saletheproductfor125000.Halfofthesaleswereforcash,halfoncredit.Also,itreportedthecostof40000.Dr.cash62500Accountreceivable62500Cr.Salesrevenue125000Dr.costofgoodssold40000Cr.Finishedgoods400009.Jan31Companyusedbaddebtallowancemethodtorecordbaddebtexpense.Itrecognized6%oftheendingbalanceofAccountsreceivableasthebaddebtexpenseofthataccountingperiod.Dr.baddebtexpense62500*6%=3750Cr.Baddebtallowance62500*6%=375010.Jan31Recordtheaccrualexpense.(Supposethecarissupposedtobeusedfor5years.)Dr.insuranceexpense2000Cr.Prepaidinsurance2000Dr.Depreciationexpense200Cr.AccumulatedDepreciation200Dr.Interestexpense600Cr.Interestpayable60011.Jan31Closealltherevenueaccountandexpenseaccount.Dr.salesrevenue125000Cr.Incomesummary125000Dr.Incomesummary51050Cr.Salaryexpense4500COGS40000Baddebtexpense3750Insuranceexpense2000Depreciationexpense200Interestexpense60012.Jan31Closetheincomesummaryaccount.Dr.incomesummary73950Cr.Retainedearnings73950