关闭

关闭

关闭

封号提示

内容

首页 Chapter_03.pdf

Chapter_03.pdf

Chapter_03.pdf

上传者: bluebreeze 2011-09-11 评分 0 0 0 0 0 0 暂无简介 简介 举报

简介:本文档为《Chapter_03pdf》,可适用于财会税务领域,主题内容包含ChapterAdjustingAccountsandPreparingFinancialStatementsQUICKSTUDIESQuickSt符等。

ChapterAdjustingAccountsandPreparingFinancialStatementsQUICKSTUDIESQuickStudy(minutes)CashAccountingRevenues(cashreceipts)$,Expenses(cashpayments:$,$,$,),Netincome$,AccrualAccountingRevenues(earned)$,Expenses(incurred),Netincome$,QuickStudy(minutes)aAEAccruedexpensesbPEPrepaidexpensescURUnearnedrevenuesdPEPrepaidexpenses(Depreciation)eARAccruedrevenuesMcGrawHillCompanies,SolutionsManual,ChapterQuickStudy(minutes)AccountsDebitedandCreditedFinancialStatementaDebitUnearnedRevenueBalanceSheetCreditRevenueEarnedIncomeStatementbDebitWagesExpenseIncomeStatementCreditWagesPayableBalanceSheetcDebitAccountsReceivableBalanceSheetCreditRevenueEarnedIncomeStatementdDebitInsuranceExpenseIncomeStatementCreditPrepaidInsuranceBalanceSheeteDebitDepreciationExpenseIncomeStatementCreditAccumulatedDepreciationBalanceSheetQuickStudy(minutes)aInsuranceExpense,PrepaidInsurance,TorecordmonthinsurancecoverageexpiredbSuppliesExpense,Supplies,Torecordsuppliesusedduringtheyear($$,–=$)QuickStudy(minutes)aDepreciationExpenseEquipment,AccumulatedDepreciationEquipment,Torecorddepreciationexpensefortheyear($,$,)years=$,bNodepreciationadjustmentsaremadeforlandasitisexpectedtolastindefinitelyMcGrawHillCompanies,FundamentalAccountingPrinciples,thEditionQuickStudy(minutes)SalariesExpenseSalariesPayableTorecordsalariesincurredbutnotyetpaidOnestudentearns$xdays,MondaythroughThursdayQuickStudy(minutes)aUnearnedRevenue,LegalRevenue,Torecognizelegalrevenueearned(,x)bUnearnedSubscriptionRevenue,SubscriptionRevenue,Torecognizesubscriptionrevenueearnedx($months)xmonthsQuickStudy(minutes)AdjustingentryDebitCreditAccruesalariesexpenseegAdjusttheUnearnedServicesRevenueaccounttorecognizeearnedrevenueafRecordtheearningofservicesrevenueforwhichcashwillbereceivedthefollowingperiodbfQuickStudy(minutes)TheanswerisaExplanationThedebitbalanceinPrepaidInsurancewasreducedby$,implyinga$debittoInsuranceExpenseThecreditbalanceinInterestPayableincreasedby$,implyingan$debittoInterestExpenseMcGrawHillCompanies,SolutionsManual,ChapterQuickStudy(minutes)TheanswerisExplanationInsurancepremiumerrorUnderstatesexpenses(andoverstatesassets)by$,AccruedsalarieserrorUnderstatesexpenses(andunderstatesliabilities)by,Thecollectiveeffectsfromthiscompany’serrorsfollow:Understatesexpensesby$,Overstatesassetsby$,Understatesliabilitiesby$,QuickStudy(minutes)Profitmargin=$,$,=Interpretation:ForeachdollarthatMillerCompanyrecordsasrevenue,itearnscentsinnetincomeMiller’sismarkedlylowerthancompetitors’averageprofitmarginofitmustimproveperformanceEXERCISESExercise(minutes)BAFDCEMcGrawHillCompanies,FundamentalAccountingPrinciples,thEditionExercise(minutes)aDepreciationExpenseEquipment,AccumulatedDepreciationEquipment,TorecorddepreciationexpensefortheyearbInsuranceExpense,PrepaidInsurance*,Torecordinsurancecoveragethatexpired($,$)cOfficeSuppliesExpense,OfficeSupplies**,Torecordofficesuppliesused($$,$)dUnearnedFeeRevenue,FeeRevenue,Torecordearnedportionoffeereceivedinadvance($,x)eInsuranceExpense,PrepaidInsurance,TorecordinsurancecoveragethatexpiredfWagesExpense,WagesPayable,TorecordwagesaccruedbutnotyetpaidNotes:PrepaidInsurance*OfficeSupplies**BalBal,BegBalPurch,UsedUsedEndBalEndBalMcGrawHillCompanies,SolutionsManual,ChapterExercise(minutes)aAdjustingentryWagesExpenseDecWagesPayableTorecordaccruedwagesforoneday(workersx$)bPaydayentryWagesExpense,JanWagesPayableCash,TorecordaccruedandcurrentwagesWagesexpense=workersxdaysx$Cash=workersxdaysx$Exercise(minutes)a$,b$,c$,d$,Proof:(a)(b)(c)(d)Suppliesavailable–prioryearend$$,$,$,Suppliespurchasedincurrentyear,,,,Totalsuppliesavailable,,,,Suppliesavailable–currentyearend()(,)(,)()Suppliesexpenseforcurrentyear$,$,$,$,McGrawHillCompanies,FundamentalAccountingPrinciples,thEditionExercise(minutes)aAprLegalFeesExpense,LegalFeesPayable,TorecordaccruedlegalfeesMayLegalFeesPayable,Cash,TopayaccruedlegalfeesbAprInterestExpense,InterestPayable,Torecordaccruedinterestexpense($,x)MayInterestPayable,InterestExpense,Cash,Torecordpaymentofaccruedandcurrentinterestexpense($,x)cAprSalariesExpense,SalariesPayable,Torecordaccruedsalaries($,xweek)MaySalariesPayable,SalariesExpense,Cash,Torecordpaymentofaccruedandcurrentsalaries($,xweek)McGrawHillCompanies,SolutionsManual,ChapterExercise(minutes)BalanceSheetPrepaidInsuranceAssetusingInsuranceExpenseusingAccrualBasisCashBasisAccrualBasisCashBasis***Dec,$,$$$,Dec,,,,Dec,,,Dec,Total$,$,Explanations:*Accrualassetbalanceequalsmonthsleftinthepolicyx$permonth(monthlycostiscomputedas$,months)MonthsLeftBalance$,,,**Accrualinsuranceexpenseequalsmonthscoveredintheyearx$permonthMonthsCoveredExpense$,,,$,McGrawHillCompanies,FundamentalAccountingPrinciples,thEditionExercise(minutes)DecAccountsReceivable,FeesEarned,Torecordearnedbutunbilledfees(x$,)UnearnedFees,FeesEarned,Torecordearnedfeescollectedinadvance(x$,)DepreciationExpenseComputers,AccumulatedDepreciationComputers,TorecorddepreciationoncomputersDepreciationExpenseOfficeFurniture,AccumulatedDepreciationOfficeFurniture,TorecorddepreciationonofficefurnitureSalariesExpense,SalariesPayable,TorecordaccruedsalariesInsuranceExpense,PrepaidInsurance,TorecordexpiredprepaidinsuranceRentExpenseRentPayableTorecordaccruedrentexpenseOfficeSuppliesExpenseOfficeSuppliesTorecorduseofofficesuppliesAdvertisingExpenseAdvertisingPayableTorecordaccruedadvertisingexpenseUtilitiesExpenseUtilitiesPayableTorecordincurredandunpaidutilitycostsMcGrawHillCompanies,SolutionsManual,ChapterPROBLEMSETAProblemA(minutes)IGHDCEFIHBABProblemA(minutes)PartAdjustment(a)DecOfficeSuppliesExpense,OfficeSupplies,Torecordcostofsuppliesused($,$,$,)Adjustment(b)InsuranceExpense,PrepaidInsurance,TorecordannualinsurancecoveragecostPolicyCostperMonthMonthsActiveinCostA$($,mo)$,B($,mo),C($,mo),Total$,Adjustment(c)SalariesExpense,SalariesPayable,Torecordaccruedbutunpaidwages(daysx$,)McGrawHillCompanies,FundamentalAccountingPrinciples,thEditionProblemAconcludedAdjustment(d)DecDepreciationExpenseBuilding,AccumulatedDepreciationBuilding,Torecordannualdepreciationexpense($,$,)years=$,Adjustment(e)RentReceivable,RentEarned,TorecordearnedbutunpaidDecrentAdjustment(f)UnearnedRent,RentEarned,TorecordtheamountofrentearnedforNovemberandDecember(x$,)PartCashPaymentfor(c)JanSalariesPayable,SalariesExpense*,Cash,Torecordpaymentofaccruedandcurrentsalaries*(daysx$,)CashPaymentfor(e)Cash,RentReceivable,RentEarned,TorecordpastduerentfortwomonthsMcGrawHillCompanies,SolutionsManual,ChapterProblemA(minutes)PartsandCashEquipment,,UnadjBalUnadjBalAccumulatedDepreciationAccountsReceivableEquipment,UnadjBalUnadjBal(f),(c),,,AdjBalAdjBalTeachingSuppliesAccountsPayable,,UnadjBalBal(b),,AdjBalSalariesPayableUnadjBalPrepaidInsurance(g),UnadjBalAdjBal(a),,AdjBalUnearnedTrainingFees,UnadjBalPrepaidRent(e),,,UnadjBalAdjBal(h),AdjBalTWells,Capital,BalProfessionalLibrary,BalTWells,Withdrawals,BalAccumulatedDepreciationProfessionalLibrary,UnadjBal(d),,AdjBalMcGrawHillCompanies,FundamentalAccountingPrinciples,thEditionProblemA(Continued)TuitionFeesEarnedRentExpense,,UnadjBalUnadjBal(f),(h),,,AdjBalAdjBalTrainingFeesEarnedTeachingSuppliesExpense,UnadjBalUnadjBal(e),(b),,,AdjBalAdjBalDepreciationExpenseProfessionalLibraryAdvertisingExpense,UnadjBalBal(d),,AdjBalDepreciationExpenseEquipmentUtilitiesExpense,UnadjBalBal(c),,AdjBalSalariesExpense,UnadjBal(g),AdjBalInsuranceExpenseUnadjBal(a),,AdjBalMcGrawHillCompanies,SolutionsManual,ChapterProblemA(Continued)PartAdjustment(a)DecInsuranceExpense,PrepaidInsurance,TorecordtheinsuranceexpiredAdjustment(b)TeachingSuppliesExpense,TeachingSupplies,Torecordsuppliesused($,$,)Adjustment(c)DepreciationExpenseEquipment,,AccumulatedDepreciationEquipmentTorecordequipmentdepreciationAdjustment(d)DepreciationExpenseProfessLibrary,AccumulDepreciationProfessLibrary,TorecordprofessionallibrarydepreciationAdjustment(e)UnearnedTrainingFees,TrainingFeesEarned,Torecordmonths’trainingfeesearnedthatwerecollectedinadvanceAdjustment(f)AccountsReceivable,TuitionFeesEarned,Torecordtuitionearned($,xmonths)Adjustment(g)SalariesExpenseSalariesPayableTorecordaccruedsalaries(daysx$xemployees)Adjustment(h)RentExpense,PrepaidRent,TorecordexpirationofprepaidrentMcGrawHillCompanies,FundamentalAccountingPrinciples,thEditionProblemA(Continued)PartWELLSTEACHINGINSTITUTEAdjustedTrialBalanceDecember,DebitCreditCash$,Accountsreceivable,Teachingsupplies,Prepaidinsurance,PrepaidrentProfessionallibrary,$,AccumulateddepreciationProfessionallibraryEquipment,AccumulateddepreciationEquipment,Accountspayable,SalariespayableUnearnedtrainingfees,TWells,Capital,TWells,Withdrawals,Tuitionfeesearned,Trainingfeesearned,DepreciationexpenseProfessionallibrary,DepreciationexpenseEquipment,Salariesexpense,Insurance

用户评论(0)

0/200

精彩专题

上传我的资料

每篇奖励 +2积分

资料评价:

/17
1下载券 下载 加入VIP, 送下载券

意见
反馈

立即扫码关注

爱问共享资料微信公众号

返回
顶部