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Chapter_05.pdf

Chapter_05.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_05pdf》,可适用于财会税务领域,主题内容包含ChapterAccountingforMerchandisingOperationsQUICKSTUDIESQuickStudy(minutes)符等。

ChapterAccountingforMerchandisingOperationsQUICKSTUDIESQuickStudy(minutes)MarMerchandiseInventory,AccountsPayable,Torecordcreditpurchase(,x$)MarAccountsPayableMerchandiseInventoryReturneddefectiveunits(,)x$,MarAccountsPayable,Cash,MerchandiseInventory*Paidforpurchaselesscashdiscount*(,$)xMcGrawHillCompanies,SolutionsManual,ChapterQuickStudy(minutes)AprAccountsReceivable,Sales,TorecordcreditsaleCostofGoodsSold,MerchandiseInventory,TorecordcostofcreditsaleSalesReturnsandAllowances,AccountsReceivable,TorecordsalesreturnMerchandiseInventoryCostofGoodsSoldRestorecostofreturnedgoodstoinventoryCash,SalesDiscounts*AccountsReceivable,Receivedpaymentlesscashdiscount*($,$,)xQuickStudy(minutes)(a)(b)(c)(d)Sales$,$,$,$,Salesdiscounts(,)(,)()(,)Salesreturnsandallowances(,)(,)(,)(,)Netsales,,,,Costofgoodssold(,)(,)(,)(,)Grossprofit$,$,$,$,Grossmarginratio:(GrossprofitNetsales)Interpretationofgrossmarginratioforcasea:TheratioofimpliesthatforeachdollarinnetsalesthecompanyearnscentsingrossprofitThecompanymuststilldeductotherexpensesthatitincursinrunningthebusinesswhencomputingnetincomeMcGrawHillCompanies,FundamentalAccountingPrinciples,thEditionQuickStudy(minutes)JulyCostofGoodsSold,MerchandiseInventory,Toadjustforshrinkagebasedonphysicalcount$,$,QuickStudyA(minutes)aPerpetualinventorysystembPerpetualinventorysystemcPerpetualinventorysystemdPerpetualinventorysystemePeriodicinventorysystemQuickStudyA(minutes)MarPurchases,AccountsPayable,Torecordcreditpurchase(,x$)AccountsPayablePurchasesReturnsAllowancesReturneddefectiveunits(,)x$,AccountsPayable,Cash,PurchasesDiscounts*Paidforpurchaselesscashdiscount*($,$)xQuickStudyA(minutes)AprAccountsReceivable,Sales,TorecordcreditsaleSalesReturnsandAllowances,AccountsReceivable,TorecordsalesreturnCash,SalesDiscounts*AccountsReceivable,Receivedpaymentlesscashdiscount*($,$,)xMcGrawHillCompanies,SolutionsManual,ChapterEXERCISESExercise(minutes)AprMerchandiseInventory,AccountsPayableJohns,PurchasedmerchandiseoncreditMerchandiseInventoryCashPaidshippingchargesonpurchasedmerchandiseAccountsPayableJohnsMerchandiseInventoryReturnedunacceptablemerchandiseAccountsPayableJohns,MerchandiseInventory*Cash,*($,$)xPaidbalance(less)withindiscountperiodMerchandiseInventory,AccountsPayableWilliam,PurchasedmerchandiseoncreditAccountsPayableWilliam,MerchandiseInventory,ReceivedanallowanceonpurchaseAccountsPayableWilliam,MerchandiseInventory*Cash,*($,$,)xPaidbalance(less)withindiscountperiodMcGrawHillCompanies,FundamentalAccountingPrinciples,thEditionExercise(minutes)BUYERFortunaCompanyCreditPurchaseMerchandiseInventory,AccountsPayable,PurchasedmerchandiseoncreditCashPaymentAccountsPayable,MerchandiseInventory*Cash,Paidaccountpayablewithindiscountperiod*$,xSELLER–LemarCompanyCreditSaleAccountsReceivable,Sales,SoldmerchandiseonaccountCostofGoodsSold,MerchandiseInventory,TorecordcostofsaleCashCollectionCash,SalesDiscountsAccountsReceivable,CollectedaccountreceivableAmountborrowedtopaywithdiscount$,AnnualrateofinterestxInterestperyear$,Interestperday($,days)$Savingsfromdiscounttaken$Interestpaidondayloan(daysx$)()Netsavingsfromborrowingtopayindiscountperiod$McGrawHillCompanies,SolutionsManual,Chapterxercise(minutes)ECEJDAGBHFIExercise(minutes)MayAccountsReceivable,Sales,Soldmerchandiseoncredit(x$)CostofGoodsSold,MerchandiseInventory,Torecordcostofsale(x$)aMaySalesReturnsandAllowances,AccountsReceivable,Acceptedareturnfromacustomer(x$)MerchandiseInventory,CostofGoodsSold,Returnedmerchandisetoinventory(x$)bMaySalesReturnsandAllowancesAccountsReceivableGrantedallowancefordamagedmerchandisecMaySalesReturnsandAllowancesAccountsReceivableGrantedallowanceformiscoloredmerchandiseandacceptedareturnfromacustomerforthemiscoloredmerchandise$(x$)MerchandiseInventoryCostofGoodsSoldReturnedmerchandisetoinventory(x$)McGrawHillCompanies,FundamentalAccountingPrinciples,thEditionExercise(minutes)MayMerchandiseInventory,AccountsPayable,Purchasedmerchandiseoncredit(x$)aMayAccountsPayable,MerchandiseInventory,Returnedunwantedmerchandise(x$)bMayAccountsPayableMerchandiseInventoryTorecordallowancefordamagedmerchandisecMayAccountsPayableMerchandiseInventoryTorecordallowanceformiscoloredgoodsandreturnofmiscoloredmerchandise$(x$)xercise(minutes)ENote:Theoriginalmissingnumbersareblocked(a)(b)(c)(d)(e)Sales$,$,$,$,$,CostofgoodssoldMerchinv(beg),,,,,Totalcostofmerchpurchases,,,,,Merchinv(end)(,)(,)(,)(,)(,)Costofgoodssold,,,,,Grossprofit,,,,,Expenses,,,,,Netincome(loss)$,$,$(,)$,$,Explanations:aFindmerchandiseinventory(ending)bysubtractingcostofgoodssoldfromgoodsavailableforsaleFindgrossprofitasthedifferencebetweenthesalesandcostofgoodssoldFindnetincomeasthegrossprofitlesstheexpensesMcGrawHillCompanies,SolutionsManual,ChapterbFindtotalcostofmerchandisepurchasesbyfindingthenumberthatmakesthetotalequalthecostofgoodssoldFindgrossprofitfromsaleslesscostofgoodssoldcFindcostofgoodssoldfromsaleslessgrossprofitFindcostofmerchandisepurchasesbyfindingthenumbertomakethecalculationequalcostofgoodssolddCalculatecostofgoodssoldasusualCalculatesalesasgrossprofitpluscostofgoodssoldeFindmerchandiseinventory(ending)bysubtractingcostofgoodssoldfromgoodsavailableforsaleFindgrossprofitfromsaleslesscostofgoodssoldFindnetincomeasgrossprofitlessexpensesExercise(minutes)MerchandiseInventoryBalance,Dec,,Purchasediscountsreceived,Invoicecostofpurchases,Purchasereturnsandallow,Returnsbycustomers,Costofsalestransactions,Transportationin,ShrinkageBalance,Dec,,CostofGoodsSoldCostofsalestransactionsInventoryshrinkagerecordedinDecember,,adjustingentry,Returnsbycustomersandrestoredtoinventory,Balance,Dec,,Exercise(minutes)AdjustingentriesDecSalesSalariesExpense,SalariesPayable,TorecordaccruedsalariesDecSellingExpenses,PrepaidSellingExpenses,TorecordexpiredprepaidsellingexpensesDecCostofGoodsSoldMerchandiseInventoryTorecordinventoryshrinkage($,$,)McGrawHillCompanies,FundamentalAccountingPrinciples,thEditionClosingentriesDecSales,IncomeSummary,ToclosetemporaryaccountswithcreditbalancesDecIncomeSummary,SalesReturnsandAllowances,SalesDiscounts,CostofGoodsSold($,$),SalesSalariesExp($,$,),UtilitiesExpense,SellingExpenses($,$,),AdministrativeExpenses,ToclosetemporaryaccountswithdebitbalancesDecIncomeSummary,KYamiko,Capital,TocloseIncomeSummaryaccountDecKYamiko,Capital,KYamiko,Withdrawals,ToclosethewithdrawalsaccountExercisePerpetualInventorySystem)NovMerchandiseInventory,AccountsPayable,Torecordmerchandisepurchasesoncredit)NovAccountsPayable,MerchandiseInventory*Cash,Torecordcashpaymentindiscountperiod*$,xMcGrawHillCompanies,SolutionsManual,Chapter)NovCashMerchandiseInventory*Torecordcheckreceivedforreturnofpurchasespreviouslypaidforwithdiscountalreadytaken*$–($x))NovMerchandiseInventoryCashTorecordpaymentoffreightcharges)NovAccountsReceivable,Sales,TorecordsaleofmerchandiseoncreditNovCostofGoodsSold,MerchandiseInventory,Torecordcostofmerchandisesold)NovSalesReturnsandAllowancesAccountsReceivableTorecordreturnofmerchandisesoldoncreditNovMerchandiseInventoryCostofGoodsSoldTorecordcostofmerchandisereturnedExerciseA(minutes)AprPurchases,AccountsPayableJohns,PurchasedmerchandiseoncreditTransportationInCashPaidshippingchargesonpurchasedmerchandiseAccountsPayableJohnsPurchasesReturnsAllowancesReturnedunacceptablemerchandiseMcGrawHillCompanies,FundamentalAccountingPrinciples,thEditionAccountsPayableJohns,PurchasesDiscounts*Cash,Paidbalance(less)withindiscountperiod*($,$)xPurchases,AccountsPayableWilliam,PurchasedmerchandiseoncreditAccountsPayableWilliam,PurchasesReturnsAllowances,ReceivedanallowanceonpurchaseAccountsPayableWilliam,PurchasesDiscounts*Cash,Paidbalance(less)withindiscountperiod*($,$,)xExerciseA(minutes)BUYER–FortunaCreditPurchasePurchases,AccountsPayable,PurchasedmerchandiseoncreditCashPaymentAccountsPayable,PurchasesDiscounts*Cash,Paidaccountpayablewithindiscountperiod*$,xSELLERLemarCreditSaleAccountsReceivable,Sales,SoldmerchandiseonaccountMcGrawHillCompanies,SolutionsManual,ChapterCashCollectionCash,SalesDiscounts*AccountsReceivable,Collectedaccountreceivable*$,xExerciseA(minu

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