财务会计专业英语 (5)

©2009TheMcGraw-HillCompanies,Inc.,AllRightsReservedACCOUNTINGFORMERCHANDISINGOPERATIONSChapter5McGraw-Hill/IrwinSlide2McGraw-Hill/IrwinSlide2Serviceorganizationsselltimetoearnrevenue.Examples:Accountingfirms,lawfirmsandplumbingservicesNetincomeEqualsExpensesMinusRevenuesSERVICECOMPANIESMcGraw-Hill/IrwinSlide3McGraw-Hill/IrwinSlide3ManufacturerWholesalerRetailerCustomerMerchandisingCompaniesMERCHANDISINGACTIVITIESC1McGraw-Hill/IrwinSlide4McGraw-Hill/IrwinSlide4REPORTINGINCOMEFORAMERCHANDISERMerchandisingcompaniessellproductstoearnrevenue.Examples:sportinggoods,clothing,andautopartsstoresMerchandisingCompanyIncomeStatementForYearEndedDecember31,2009Netsales150,000$Costofgoodssold80,000Grossprofit70,000$Operatingexpenses46,500Netincome23,500$NetIncomeMinusEqualsMinusEqualsCostofGoodsSoldGrossProfitExpensesNetSalesC1McGraw-Hill/IrwinSlide5McGraw-Hill/IrwinSlide5OPERATINGCYCLEFORAMERCHANDISERBeginswiththepurchaseofmerchandiseandendswiththecollectionofcashfromthesaleofmerchandise.PurchasesMerchandiseinventoryCreditsalesAccountreceivableCashcollectionPurchasesMerchandiseinventoryCashsalesCashSaleCreditSaleC2McGraw-Hill/IrwinSlide6McGraw-Hill/IrwinSlide6INVENTORYSYSTEMS++BeginninginventoryNetcostofpurchases=MerchandiseavailableforsaleEndinginventoryCostofgoodssoldC3McGraw-Hill/IrwinSlide7McGraw-Hill/IrwinSlide7PERPETUALANDPERIODICINVENTORYSYSTEMSPerpetualsystemscontinuallyupdateaccountingrecordsformerchandisingtransactionsPeriodicsystemsaccountingrecordsrelatingtomerchandisetransactionsareupdatedonlyattheendoftheaccountingperiodC3McGraw-Hill/IrwinSlide8McGraw-Hill/IrwinSlide8MERCHANDISEPURCHASESOnNovember2,Z-Martpurchased$1,200ofmerchandiseinventoryforcash.Dr.Cr.Nov2MerchandiseInventory1,200Cash1,200PurchasemerchandiseforcashP1McGraw-Hill/IrwinSlide9McGraw-Hill/IrwinSlide9TRADEDISCOUNTSUsedbymanufacturersandwholesalerstoofferbetterpricesforgreaterquantitiespurchased.ExampleZ-Martoffersa30%tradediscountonordersof1,000unitsormoreoftheirpopularproductRacer.EachRacerhasalistpriceof$5.25.Quantitysold1,000Priceperunit5.25$Total5,250Less30%discount(1,575)Invoiceprice3,675$P1McGraw-Hill/IrwinSlide10McGraw-Hill/IrwinSlide10MainSource,Inc.Invoice614TechAvenueDateNumberNashville,TN376515/4/09358-BISoldToName:Barbee,Inc.Attn:TomBellAddress:OneWillowPlazaCookeville,Tennessee38501P.O.DateSalespersonTermsShip4/25/2009#252/10,n/30ViaFedExItemDescriptionQuanityPriceAmountAC417250BackupSystem50054.00$27,000$SubTotal27,000Weappreciateyourbusiness!ShipChg.-Tax-Total27,000$InvoiceFOBDestinationFreightSellerInvoicedatePurchaserOrderdateCredittermsFreighttermsGoodsTotalinvoiceP1McGraw-Hill/IrwinSlide11McGraw-Hill/IrwinSlide11PURCHASEDISCOUNTSAdeductionfromtheinvoicepricegrantedtoinduceearlypaymentoftheamountdue.CreditTermsTimeAmountDueDiscountPeriodDue:InvoicepriceminusdiscountCreditPeriodDue:FullInvoicePriceDateofInvoiceP1McGraw-Hill/IrwinSlide12McGraw-Hill/IrwinSlide122/10,n/30DiscountPercentNumberofDaysDiscountIsAvailableOtherwise,Net(orAll)IsDuein30DaysCreditPeriodPURCHASEDISCOUNTSP1McGraw-Hill/IrwinSlide13McGraw-Hill/IrwinSlide13OnNovember2nd,Z-Martpurchased$1,200ofmerchandiseinventoryonaccount,credittermsare2/10,n/30.Dr.Cr.MerchandiseInventory1,200AccountsPayable1,200PurchasemerchandiseonaccountPURCHASEDISCOUNTSP1McGraw-Hill/IrwinSlide14McGraw-Hill/IrwinSlide14OnNovember12th,Z-MartpaidtheamountdueonthepurchaseofNovember2nd.$1,200×2%=$24discountDr.Cr.AccountsPayable1,200Cash1,176MerchandiseInventory24PaidaccountspayableinfullPURCHASEDISCOUNTSP1McGraw-Hill/IrwinSlide15McGraw-Hill/IrwinSlide15PURCHASEDISCOUNTSAfterweposttheseentries,theaccountsinvolvedlooklikethis:MerchandiseInventoryAccountsPayable11/21,20011/21,20011/122411/121,200Bal.1,176Bal.0P1McGraw-Hill/IrwinSlide16McGraw-Hill/IrwinSlide16PURCHASERETURNSANDALLOWANCESPurchaseReturn...Merchandisereturnedbythepurchasertothesupplier.PurchaseAllowance...Areductioninthecostofdefectivemerchandisereceivedbyapurchaserfromasupplier.P1McGraw-Hill/IrwinSlide17McGraw-Hill/IrwinSlide17OnNovember2nd,Z-Martpurchased$1,200ofmerchandiseinventoryonaccount,credittermsare2/10,n/30.Dr.Cr.MerchandiseInventory1,200AccountsPayable1,200PurchasemerchandiseonaccountPURCHASERETURNSANDALLOWANCESP1McGraw-Hill/IrwinSlide18McGraw-Hill/IrwinSlide18OnNovember5th,Z-Martreturned$300ofdefectivemerchandisetothesupplier.Dr.Cr.AccountsPayable300MerchandiseInventory300ReturneddefectivemerchandisePURCHASERETURNSANDALLOWANCESP1McGraw-Hill/IrwinSlide19McGraw-Hill/IrwinSlide19OnNovember12th,Z-MartpaidtheamountowedforthepurchaseofNovember2nd.Purchase1,200$Returns(300)AmountDue900Discount(18)CashPaid882$Dr.Cr.AccountsPayable900Cash882MerchandiseInventory18PaidaccountspayableinfullPURCHASERETURNSANDALLOWANCESP1McGraw-Hill/IrwinSlide20McGraw-Hill/IrwinSlide20TRANSPORTATIONCOSTSANDOWNERSHIPTRANSFERFOBshippingpoint(buyerpays)FOBdestination(sellerpays)MerchandiseSellerBuyerTermsOwnershiptransferstobuyerwhengoodsarepassedtoTransportationcostspaidbyFOBshippingpointCarrierBuyerFOBdestinationBuyerSellerCarrierP1Mc