会计专业英语课件：Chap 4-1 Merchandising Activities and Accounting Information Systems

1、Chapter 4Merchandising Activities and Accounting Information SystemsContents4.1 Service enterprise vs. merchandising concern4.2 Purchase, sales revenue and cost of goods sold4.3 Alternative income statement formats4.4 Worksheet for a merchandising enterprise and closing entries4.5 Accounting systems

2、4.6 Special journals4.7 Chinese practice4.8 Using the infomation quik ratio and gross margin ratioManufacturerWholesalerRetailerCustomerMerchandising Companies4.1 Service enterprise vs. merchandising concernOperating Cycle for a Merchandiser Begins with the purchase of merchandise and ends with the

3、collection of cash from the sale of merchandise.PurchasesinventoryCredit salesAccountreceivableCashcollectionPurchasesinventoryCashsalesCash SaleCredit SalePurchase Discount Sales Discount购货折扣 销售折扣Purchase Returns&Allowances SalesReturns &Allowances购货退回与折让 销售退回与折让Trade Discount 商业折扣Transportation in

4、： 购货过程买方承担的运费, 买方计入存货成本Transportation out：购货过程卖方承担的运费，买方计入当期费用cash discount现金折扣Transportation cost 运费4.2 Purchase, sales revenue and cost of goods soldInventory Purchasesin perpetual inventory system永续盘存制 On June 20, Jason, Inc. purchased $14,000 of Merchandise Inventory paying cash.Merchandise Inve

5、ntory2/10,n/30Purchase DiscountsDiscount PercentNumber of Days Discount Is AvailableOtherwise, Net (or All) Is Due in 30 DaysCreditPeriodPurchase Discounts A deduction from the invoice price granted to induce early payment of the amount due.TermsTimeDue Discount PeriodDue: Invoice price minus discou

6、ntCredit PeriodDue: Full Invoice PriceDate of InvoicePurchase Discounts On May 7, Jason, Inc. purchased $27,000 of merchandise inventory on account, credit terms are 2/10, n/30.Merchandise InventoryPurchase Discounts On May 15, Jason, Inc. paid the amount due on the purchase of May 7.*$27,000 2% = $

7、540 discountMerchandise InventoryPurchase Returns and AllowancesPurchase Return . . . Inventory returned by the purchaser to the supplier.Purchase Allowance . . . A reduction in the cost of defective inventory received by a purchaser from a supplier.Purchase Returns and AllowancesOn May 9, Matrix, I

8、nc. purchased $20,000 of merchandise inventory on account, credit terms are 2/10, n/30.Merchandise InventoryPurchase Returns and Allowances On May 10, Matrix, Inc. returned $500 of defective merchandise to the supplier.Merchandise InventoryPurchase Returns and Allowances On May 18, Matrix, Inc. paid

9、 the amount owed for the purchase of May 9.2/10, n/30Merchandise InventoryTransportation CostsFOB shipping point(buyer pays)FOB destination(seller pays)InventorySellerBuyerFOB离岸FOB到岸Transportation CostsOn May 12, Jason, Inc. purchased $8,000 of merchandise inventory for cash and also paid $100 trans

10、portation costs.Transportation inMerchandise InventoryQuick Check On July 6, 2007, Seller Co. sold $7,500 of merchandise to Buyer, Co. on account; terms of 2/10,n/30. The shipping terms were FOB shipping point. The shipping cost was $100. Which of the following will be part of Buyers July 6 journal

11、entry? a. Credit Sales $7,500b. Credit Purchase Discounts $150c. Debit Inventory $7,600d. Debit Accounts Payable $7,450Cost of Inventory PurchasedNet PurchaseSalesSales DiscountsSales Returns&AllowancesSales ProcessAccounting for Merchandise SalesSales discounts and returns and allowances are Contra

12、 Revenue accounts.销售成本毛利Sales DiscountsJune 8B sold Inventoryon accountCost=$3,500 Price=$6,000 2/10, n/30June 8Dr. AR $6 000 Cr. Sales $6 000Dr. COGs $3 500 Cr. Merchandise Inventory $3 500June 20Received CashJune 20Sales Discount=0Dr. Cash $6 000 Cr. AR $6 000June 8B sold Inventoryon accountCost=$

13、3,500 Price=$6,000 2/10, n/30June 8Dr. AR $6 000 Cr. Sales $6 000Dr. COGs $3 500 Cr. Merchandise Inventory $3 500June 17Received CashJune 17Sales Discount=$6 000*2%=$120Dr. Cash $5 880 Sales Discount $120 Cr. AR $6 000Sales Returns and AllowancesSales Retn&Allow June 12A sold Inventoryon accountCost

14、=$4,000 Price=$7,500 2/10, n/30June 12Dr. AR $7 500 Cr. Sales $7 500Dr. COGs $4 000 Cr. Merchandise Inventory $4 000June 20Received CashJune 14Sales Return 20%June 14Dr. $1 500 Cr. AR $1 500Dr. Merchandise Inventory $800 Cr. COGs $800Sales Retn&Allow June 12A sold Inventoryon accountC=$4,000 P=$7,50

15、0 2/10, n/30June 20Received CashJune 14Sales Return 20%June 20Sales Discount=$6 000*2%=$120Cash Received=$6 000-$120=$5 880Dr.Cash $5 880 Sales Discount $120 Cr. AR $6 000June 12A sold Inventoryon accountCost=$4,000 Price=$7,500 2/10, n/30June 12Dr. AR $7 500 Cr. Sales $7 500Dr. COGs $4 000 Cr. Merc

16、handise Inventory $4 000June 20Received CashJune 14Sales Return 20%June 14Dr. $1 500 Cr. AR $1 500Dr. Merchandise Inventory $800 Cr. COGs $800Sales Retn&Allow Sales Allowance 20% Dr.Cash $5 880 Sales Discount $120 Cr. AR $6 000Less: ExpensesNet IncomeExercise 4-1Problem 4-1Exercise 4-1(90 000-4 000-3 000)+a1=89 400a2+4 40