对外经贸会计专业第六章课件

Slide6-1ACCOUNTINGFORMERCHANDISINGACTIVITIESChapter

6Slide6-1ACCOUNTINGFORMERCHASlide6-2OperatingCycleofaMerchandisingCompanyOperatingcycle营业周期 Theaverageperiodbetweenthepurchaseofmerchandiseandtheconversionofthismerchandisebackintocash.Slide6-2OperatingCycleofaSlide6-3OperatingCycleofaMerchandisingCompany1.Purchaseofmerchandise3.Collectionofthereceivables2.SaleofmerchandiseonaccountCashInventoryAccountsReceivableCashsalesSlide6-3OperatingCycleofaSlide6-4ComparingMerchandisingActivitieswithManufacturingActivitiesMerchandisingCompanyPurchaseinventoryinready-to-sellcondition.ManufacturingCompanyManufactureinventoryandhavealongerandmorecomplexoperatingcycleSlide6-4ComparingMerchandisiSlide6-5IncomeStatementofaMerchandisingCompanyCostofgoodssold销货成本representstheexpenseofgoodsthataresoldtocustomers.Grossprofitisausefulmeansofmeasuringtheprofitabilityofsalestransactions.Slide6-5IncomeStatementofaSlide6-6WhatAccountingInformationDoesaMerchandisingCompanyNeed?FinancialReportingRequirementsDailyBusinessOperatingRequirementsSpecialReportingRequirementsExamplesRevenuesExpenses

CustomerLedgers

TaxReportsSlide6-6WhatAccountingInforSlide6-7GeneralLedgerAccountsAlthoughgeneralledgeraccountsprovideusefulinformation,theydonotprovidemuchofthedetailedinformationneededinthedailybusinessoperations.Whoowesusmoney?Slide6-7GeneralLedgerAccounSlide6-8SubsidiaryLedgers明细分类账:ASourceofNeededDetailsControllingAccount统制账户Slide6-8SubsidiaryLedgers明细Slide6-9SubsidiaryLedgersAccountsreceivable(subsidiary)ledger应收账款明细账

--AlistofallthechargecustomersandtheirrespectivebalanceAccountspayable(subsidiary)ledger

应付账款明细账--AlistofallsuppliersandtheirrespectivebalanceInventorysubsidiaryledger存货明细账(p.227)

--separateaccountforeachtypeofproductinthecompany’sinventorySlide6-9SubsidiaryLedgersAccSlide6-10SubsidiaryLedgersAccountsreceivableledgerName:___________________________________________Address:_________________________________________DateItemPostDebitCreditBalanceRef.

Slide6-10SubsidiaryLedgersAcSlide6-11Slide6-11Slide6-12TwoApproachesUsedinAccountingforMerchandiseTransactionsPerpetualInventorySystemPeriodicInventorySystemSlide6-12TwoApproachesUsedSlide6-13PerpetualInventorySystem

永续盘存制Theinventoryaccountiscontinuouslyupdatedtoreflectitemsonhand.Let’slookatsomeentries!Slide6-13PerpetualInventorySlide6-14PerpetualInventorySystemOnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.Slide6-14PerpetualInventorySlide6-15PerpetualInventorySystemOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.10*$30=$300Slide6-15PerpetualInventorySlide6-16PerpetualInventorySystemCostRetailOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.Slide6-16PerpetualInventorySlide6-17PerpetualInventorySystemOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.Slide6-17PerpetualInventorySlide6-18PerpetualInventorySystemOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.Slide6-18PerpetualInventorySlide6-19TheInventorySubsidiaryLedgerAttheendoftheperiod,managementcomparesthephysicalinventorycount实地盘存withtheinventoryledgertodetermineinventoryshrinkage存货损耗.Slide6-19TheInventorySubsidPerpetualInventoryMethodInventoryAccountPayableAssetO’ELiabilityRevenueExpense=+-++-Costofgoodsold

Sales-++--=+Sep.53000Sep.53000Sep.10500Sep.10500Sep.10300Purchase100units,30$@sales10units,50$@Sep.10300AccountRec.++-PerpetualInventoryMethodInveSlide6-21TakingaPhysicalInventoryInordertoensuretheaccuracyoftheirperpetualrecords,mostbusinessestakeacompletephysicalcountofthemerchandiseonhandatleastonceayear.Slide6-21TakingaPhysicalInSlide6-22TakingaPhysicalInventoryReasonableamountsofinventoryshrinkageareviewedasanormalcostofdoingbusiness.Examplesincludebreakage,spoilageandtheft.OnDecember31,WorleyCo.countsitsinventory.Aninventoryshortageof$2,000isdiscovered.Slide6-22TakingaPhysicalInPerpetualInventoryMethodInventoryAssetO’ELiabilityRevenueExpense=+-++-Costofgoodsold

+-=+Sep.53000Dec.312000Sep.10300Inventoryshrinkage

Sep.10300Dec.312000PerpetualInventoryMethodInveSlide6-24PerpetualInventorySystemBeginninginventoryCostofgoodsavailable+Purchasesforsale-Costofgoodssold=EndinginventoryNetSales-Costofgoodsold=GrossprofitExercise6.4(p.253)Exercise6.6(p.254)Slide6-24PerpetualInventorySlide6-25ClosingEntriesinaPerpetualInventorySystemCloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDividendstoRetainedEarnings.Theclosingentriesarethesame!Slide6-25ClosingEntriesinaSlide6-26PeriodicInventorySystem

定期盘存制Noeffortismadetokeepup-to-daterecordsofeitherinventoryorcostofgoodssold.Let’slookatsomeentries!Slide6-26PeriodicInventorySSlide6-27PeriodicInventorySystemOnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.NoticethatnoentryismadetoInventory.Slide6-27PeriodicInventorySSlide6-28PeriodicInventorySystemOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.RetailSlide6-28PeriodicInventorySSlide6-29PeriodicInventorySystemOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.Slide6-29PeriodicInventorySSlide6-30PeriodicInventorySystemOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.Slide6-30PeriodicInventorySPerpetualInventoryMethodInventoryAccountPayableAssetO’ELiabilityRevenueExpense=+-++-Purchase

Sales-++--=+Sep.53000Sep.53000Sep.10500Sep.10500Purchase100units,30$@sales10units,50$@AccountRec.++-PerpetualInventoryMethodInveSlide6-32ComputingCostofGoodsSoldinaPeriodicInventorySystemTheyear-endinventoryisdeterminedbytakingacompletephysicalcountofthemerchandiseonhandBeginninginventoryCostofgoodsavailable+Purchasesforsale-Endinginventory=CostofgoodssoldSlide6-32ComputingCostofGoSlide6-33ComputingCostofGoodsSoldinaPeriodicInventorySystemTheaccountingrecordsofPartySupplyshowthefollowing:Inventory,Jan.1,2003$14,000Purchases(during2003)130,000AtDecember31,2003,PartySupplycountedthemerchandiseonhandat$12,000.CalculatePartySupply’scostofgoodssoldfor2003.Slide6-33ComputingCostofGoSlide6-34ComputingCostofGoodsSoldinaPeriodicInventorySystemCostofGoodsSoldcanbecalculatedasfollows:Slide6-34ComputingCostofGoSlide6-35CreatingCostofGoodsSoldinaPeriodicInventorySystemNow,PartySupplymustcreatetheCostofGoodsSoldaccount.Slide6-35CreatingCostofGooSlide6-36CreatingCostofGoodsSoldinaPeriodicInventorySystemNow,PartySupplymustrecordtheendinginventoryamount.Slide6-36CreatingCostofGooPerpetualInventoryMethodInventoryAssetO’ELiabilityRevenueExpense=+-++-Purchase

Sales++--130000130000Dec.3112000Dec.3112000Dec.31130000PurchaseinthisyearAccountPay.+-CostofGoodSold+-Jan.114000Dec.3114000Dec.3113000014000EndinginventoryPerpetualInventoryMethodInveSlide6-38PeriodicinventorysystemExercise6.8(p.255)Question9(p.252)Slide6-38PeriodicinventorysSlide6-39CompletingtheClosingProcessCloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDividendstoRetainedEarnings.Theclosingentriesarethesame!Slide6-39CompletingtheClosiSlide6-40ComparisonofPerpetualandPeriodicInventorySystemsRefertotheexhibit6-6onpage236Slide6-40ComparisonofPerpetSlide6-41ComparisonofPerpetualandPeriodicInventorySystemsPeriodicInventorySystemJo’sDressShopPerpetualInventorySystemLargeDepartmentStoresSlide6-41ComparisonofPerpetSlide6-42ModifyinganAccountingSystemMostbusinessesusespecialjournals特种日记账ratherthanageneraljournaltorecordroutinetransactionsthatoccurfrequently.Slide6-42ModifyinganAccountSlide6-43CreditTermsandCashDiscounts

信贷/信用条件2/10,n/30Readas:“Twoten,netthirty”

Whenmanufacturersandwholesalersselltheirproductsonaccount,thecredittermsarestatedintheinvoice.Slide6-43CreditTermsandCasSlide6-44CreditTermsandCashDiscounts2/10,n/30PercentageofDiscount#ofDaysDiscountIsAvailableOtherwise,theFullAmountIsDue#ofDayswhenFullAmountIsDueSlide6-44CreditTermsandCasCashdiscount现金折扣SalesdiscountsintermsofsellerPurchasediscountsintermsofbuyerCashdiscount现金折扣SalesdiscouSlide6-46CreditTermsandCashDiscountsPurchasesarerecordedattheirnetamounts.Purchasediscounts（购货折扣）lostarerecordedwhenpaymentismadeoutsidethediscountperiod.Net(price)Method净价法Slide6-46CreditTermsandCasSlide6-47CreditTermsandCashDiscountsOnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-47CreditTermsandCasSlide6-48CreditTermsandCashDiscounts$4,000*98%=$3,920OnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-48CreditTermsandCasSlide6-49CreditTermsandCashDiscountsOnJuly15,PlayClothespaysthenetamountduetoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-49CreditTermsandCasSlide6-50CreditTermsandCashDiscountsOnJuly15,PlayClothespaysthenetamountduetoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-50CreditTermsandCasSlide6-51CreditTermsandCashDiscountsNow,assumethatPlayClotheswaiteduntilJuly20topaytheamountdueinfulltoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-51CreditTermsandCasSlide6-52CreditTermsandCashDiscountsNonoperatingExpenseNow,assumethatPlayClotheswaiteduntilJuly20topaytheamountdueinfulltoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-52CreditTermsandCasManagingDiscountsIfwefailtotakea2/10,n/30discount,isitreallyexpensive?365days÷20days×2%=36.5%annualrate

DaysinayearNumberofadditionaldaysbeforepaymentPercentpaidtokeepmoneyManagingDiscountsIfwefailtSlide6-54RecordingPurchasesatGrossInvoicePricePurchasesarerecordedattheirgrossamounts.Purchasediscountstakenarerecordedwhenpaymentismadeinsidethediscountperiod.Gross(price)Method毛额法/总价法Slide6-54RecordingPurchasesSlide6-55RecordingPurchasesatGrossInvoicePriceOnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-55RecordingPurchasesSlide6-56RecordingPurchasesatGrossInvoicePriceOnJuly6,PlayClothespurchased$4,000ofmerchandiseoncreditwithtermsof2/10,n/30fromKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-56RecordingPurchasesSlide6-57RecordingPurchasesatGrossInvoicePriceOnJuly15,PlayClothespaysthenetamountduetoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-57RecordingPurchasesSlide6-58RecordingPurchasesatGrossInvoicePriceReducesCostofGoodsSold$4,000´98%=$3,920OnJuly15,PlayClothespaysthenetamountduetoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-58RecordingPurchasesSlide6-59RecordingPurchasesatGrossInvoicePriceNow,assumethatPlayClotheswaiteduntilJuly20topaythefullamountduetoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-59RecordingPurchasesSlide6-60RecordingPurchasesatGrossInvoicePriceNow,assumethatPlayClotheswaiteduntilJuly20topaythefullamountduetoKid’sClothes.PreparethejournalentryforPlayClothes.Slide6-60RecordingPurchasesSlide6-61ReturnsofUnsatisfactoryMerchandiseOnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisepurchasedfromKid’sClothesoncredittermsof2/10,n/30.Thepurchasewasoriginallyrecordedatnetcost.PreparethejournalentryforPlayClothes.Slide6-61ReturnsofUnsatisfaSlide6-62ReturnsofUnsatisfactoryMerchandise$500´98%=$490OnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisepurchasedfromKid’sClothesoncredittermsof2/10,n/30.Thepurchasewasoriginallyrecordedatnetcost.PreparethejournalentryforPlayClothes.Slide6-62ReturnsofUnsatisfaSlide6-63TransportationCostsonPurchases

（p.241)Transportationcostsrelatedtotheacquisitionofassetsarepartofthecostoftheassetbeingacquired.Slide6-63TransportationCostsExerciseProblem6.4onpage258ExerciseProblem6.4onpage2Slide6-65TransactionsRelatingtoSalesCredittermsandmerchandisereturnsaffecttheamountofrevenueearnedbytheseller.Slide6-65TransactionsRelatinSlide6-66SalesReturnsandAllowances

销售退回与折让OnAugust2,Kid’sClothessold$2,000ofmerchandisetoPlayClothesoncreditterms2/10,n/30.Kid’sClothesoriginallypaid$1,000forthemerchandise.BecauseKid’sClothesusesaperpetualinventorysystem,theymustmaketwoentries.Slide6-66SalesReturnsandAlSlide6-67SalesReturnsandAllowancesOnAugust2,Kid’sClothessold$2,000ofmerchandisetoPlayClothesoncreditterms2/10,n/30.Kid’sClothesoriginallypaid$1,000forthemerchandise.BecauseKid’sClothesusesaperpetualinventorysystem,theymustmaketwoentries.Slide6-67SalesReturnsandAlSlide6-68SalesReturnsandAllowancesOnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisetoKid’sClothesfromtheAugust2sale.Kid’sClothescostforthismerchandisewas$250.BecauseKid’sClothesusesaperpetualinventorysystem,theymustmaketwoentries.Contra-revenueSlide6-68SalesReturnsandAlSlide6-69OnAugust5,PlayClothesreturned$500ofunsatisfactorymerchandisetoKid’sClothesfromtheAugust2sale.Kid’sClothescostforthismerchandisewas$250.BecauseKid’sClothesusesaperpetualinventorysystem,theymustmaketwoentries.SalesReturnsandAllowancesSlide6-69OnAugust5,PlayClSlide6-70SalesDiscounts销售折扣OnJuly6,Kid’sClothessold$4,000ofmerchandisetoPlayClothesoncreditwithtermsof2/10,n/30.ThemerchandiseoriginallycostKid’sClothes$2,000.BecauseKid’sClothesusesaperpetualinventorysystem,theymustmaketwoentries.Slide6-70SalesDiscounts销售折扣Slide6-71SalesDiscountsOnJuly6,Kid’sClothessold$4,000ofmerchandisetoPlayClothesoncreditwithtermsof2/10,n/30.ThemerchandiseoriginallycostKid’sClothes$2,000.BecauseKid’sClothesusesaperpetualinventorysystem,theymustmaketwoentries.Slide6-71SalesDiscountsOnJuSlide6-72SalesDiscountsOnJuly15,Kid’sClothesreceivesthenetamountduefromPlayClothes.PreparethejournalentryforKid’sClothes.Slide6-72SalesDiscountsOnJuSlide6-73SalesDiscounts$4,000´98%=$3,920Contra-revenueOnJuly15,Kid’sClothesreceivesthenetamountduefromPlayClothes.PreparethejournalentryforKid’sClothes.Slide6-73SalesDiscounts$4,00Slide6-74SalesDiscountsNow,assumethatitwasn’tuntilJuly20thatKid’sClothesreceivedthefullamountduefromPlayClothes.PreparethejournalentryforKid’sClothes.Slide6-74SalesDiscountsNow,Slide6-75SalesDiscountsNow,assumethatitwasn’tuntilJuly20thatKid’sClothesreceivedthefullamountduefromPlayClothes.PreparethejournalentryforKid’sClothes.Slide6-75SalesDiscountsNow,Revenue-SalesSalesReturnsandAllowancesSalesDiscount++++---Revenue-SalesSalesReturnsandSlide6-77EndofthechapterExercise6.10(p.255)Slide6-77EndofthechapterESlide6-78DeliveryExpenses送货费用DeliverycostsincurredbysellersaredebitedtoDeliveryExpense,anoperatingexpense.Slide6-78DeliveryExpenses送货Slide6-79AccountingforSalesTaxesBusinessescollectsalestaxatthepointofsale.Then,theyremitthetaxtotheappropriategovernmentalagencyattimesspecifiedbylaw.$1,000sale´7%tax=$70salestaxSlide6-79AccountingforSalesSlide6-80EvaluatingthePerformanceofaMerchandisingCompanyNetSalesGrossProfitMargins

TrendsovertimeComparablestoresalesSalespersquarefootofsellingspace

GrossProfit¸NetSalesOverallGrossProfitMarginGrossProfitMarginsbyDepartmentandProducts(refertoexampleonpage245)Slide6-80EvaluatingthePerfoSlide6-81EndofthechapterExercise6.11(p.255)GroupassignmentProblem6.6(p.259)Groupfivewillpresentnextweek

Slide6-81EndofthechapterSlide6-82ACCOUNTINGFORMERCHANDISINGACTIVITIESChapter

6Slide6-1ACCOUNTINGFORMERCHASlide6-83OperatingCycleofaMerchandisingCompanyOperatingcycle营业周期 Theaverageperiodbetweenthepurchaseofmerchandiseandtheconversionofthismerchandisebackintocash.Slide6-2OperatingCycleofaSlide6-84OperatingCycleofaMerchandisingCompany1.Purchaseofmerchandise3.Collectionofthereceivables2.SaleofmerchandiseonaccountCashInventoryAccountsReceivableCashsalesSlide6-3OperatingCycleofaSlide6-85ComparingMerchandisingActivitieswithManufacturingActivitiesMerchandisingCompanyPurchaseinventoryinready-to-sellcondition.ManufacturingCompanyManufactureinventoryandhavealongerandmorecomplexoperatingcycleSlide6-4ComparingMerchandisiSlide6-86IncomeStatementofaMerchandisingCompanyCostofgoodssold销货成本representstheexpenseofgoodsthataresoldtocustomers.Grossprofitisausefulmeansofmeasuringtheprofitabilityofsalestransactions.Slide6-5IncomeStatementofaSlide6-87WhatAccountingInformationDoesaMerchandisingCompanyNeed?FinancialReportingRequirementsDailyBusinessOperatingRequirementsSpecialReportingRequirementsExamplesRevenuesExpenses

CustomerLedgers

TaxReportsSlide6-6WhatAccountingInforSlide6-88GeneralLedgerAccountsAlthoughgeneralledgeraccountsprovideusefulinformation,theydonotprovidemuchofthedetailedinformationneededinthedailybusinessoperations.Whoowesusmoney?Slide6-7GeneralLedgerAccounSlide6-89SubsidiaryLedgers明细分类账:ASourceofNeededDetailsControllingAccount统制账户Slide6-8SubsidiaryLedgers明细Slide6-90SubsidiaryLedgersAccountsreceivable(subsidiary)ledger应收账款明细账

--AlistofallthechargecustomersandtheirrespectivebalanceAccountspayable(subsidiary)ledger

应付账款明细账--AlistofallsuppliersandtheirrespectivebalanceInventorysubsidiaryledger存货明细账(p.227)

--separateaccountforeachtypeofproductinthecompany’sinventorySlide6-9SubsidiaryLedgersAccSlide6-91SubsidiaryLedgersAccountsreceivableledgerName:___________________________________________Address:_________________________________________DateItemPostDebitCreditBalanceRef.

Slide6-10SubsidiaryLedgersAcSlide6-92Slide6-11Slide6-93TwoApproachesUsedinAccountingforMerchandiseTransactionsPerpetualInventorySystemPeriodicInventorySystemSlide6-12TwoApproachesUsedSlide6-94PerpetualInventorySystem

永续盘存制Theinventoryaccountiscontinuouslyupdatedtoreflectitemsonhand.Let’slookatsomeentries!Slide6-13PerpetualInventorySlide6-95PerpetualInventorySystemOnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.Slide6-14PerpetualInventorySlide6-96PerpetualInventorySystemOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.10*$30=$300Slide6-15PerpetualInventorySlide6-97PerpetualInventorySystemCostRetailOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.Slide6-16PerpetualInventorySlide6-98PerpetualInventorySystemOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.Slide6-17PerpetualInventorySlide6-99PerpetualInventorySystemOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.Slide6-18PerpetualInventorySlide6-100TheInventorySubsidiaryLedgerAttheendoftheperiod,managementcomparesthephysicalinventorycount实地盘存withtheinventoryledgertodetermineinventoryshrinkage存货损耗.Slide6-19TheInventorySubsidPerpetualInventoryMethodInventoryAccountPayableAssetO’ELiabilityRevenueExpense=+-++-Costofgoodsold

Sales-++--=+Sep.53000Sep.53000Sep.10500Sep.10500Sep.10300Purchase100units,30$@sales10units,50$@Sep.10300AccountRec.++-PerpetualInventoryMethodInveSlide6-102TakingaPhysicalInventoryInordertoensuretheaccuracyoftheirperpetualrecords,mostbusinessestakeacompletephysicalcountofthemerchandiseonhandatleastonceayear.Slide6-21TakingaPhysicalInSlide6-103TakingaPhysicalInventoryReasonableamountsofinventoryshrinkageareviewedasanormalcostofdoingbusiness.Examplesincludebreakage,spoilageandtheft.OnDecember31,WorleyCo.countsitsinventory.Aninventoryshortageof$2,000isdiscovered.Slide6-22TakingaPhysicalInPerpetualInventoryMethodInventoryAssetO’ELiabilityRevenueExpense=+-++-Costofgoodsold

+-=+Sep.53000Dec.312000Sep.10300Inventoryshrinkage

Sep.10300Dec.312000PerpetualInventoryMethodInveSlide6-105PerpetualInventorySystemBeginninginventoryCostofgoodsavailable+Purchasesforsale-Costofgoodssold=EndinginventoryNetSales-Costofgoodsold=GrossprofitExercise6.4(p.253)Exercise6.6(p.254)Slide6-24PerpetualInventorySlide6-106ClosingEntriesinaPerpetualInventorySystemCloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDividendstoRetainedEarnings.Theclosingentriesarethesame!Slide6-25ClosingEntriesinaSlide6-107PeriodicInventorySystem

定期盘存制Noeffortismadetokeepup-to-daterecordsofeitherinventoryorcostofgoodssold.Let’slookatsomeentries!Slide6-26PeriodicInventorySSlide6-108PeriodicInventorySystemOnSeptember5,WorleyCo.purchased100laserlightsforresalefor$30perunitfromElectronicCityonaccount.NoticethatnoentryismadetoInventory.Slide6-27PeriodicInventorySSlide6-109PeriodicInventorySystemOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.RetailSlide6-28PeriodicInventorySSlide6-110PeriodicInventorySystemOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.Slide6-29PeriodicInventorySSlide6-111PeriodicInventorySystemOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.Slide6-30PeriodicInventorySPerpetualInventoryMethodInventoryAccountPayableAssetO’ELiabilityRevenueExpense=+-++-Purchase

Sales-++--=+Sep.53000Sep.53000Sep.10500Sep.10500Purchase100units,30$@sales10units,50$@AccountRec.++-PerpetualInventoryMethodInveSlide6-113ComputingCostofGoodsSoldinaPeriodicInventorySystemTheyear-endinventoryisdeterminedbytakingacompletephysicalcountofthemerchandiseonhandBeginninginventoryCostofgoodsavailable+Purchasesforsale-Endinginventory=CostofgoodssoldSlide6-32ComputingCostofGoSlide6-114ComputingCostofGoodsSoldinaPeriodicInventorySystemTheaccountingrecordsofPartySupplyshowthefollowing:Inventory,Jan.1,2003$14,000Purchases(during2003)130,000AtDecember31,2003,PartySupplycountedthemerchandiseonhandat$12,000.CalculatePartySupply’scostofgoodssoldfor2003.Slide6-33ComputingCostofGoSlide6-115ComputingCostofGoodsSoldinaPeriodicInventorySystemCostofGoodsSoldcanbecalculatedasfollows:Slide6-34ComputingCostofGoSlide6-116CreatingCostofGoodsSoldinaPeriodicInventorySystemNow,PartySupplymustcreatetheCostofGoodsSoldaccount.Slide6-35CreatingCostofGooSlide6-117CreatingCostofGoodsSoldinaPeriodicInventorySystemNow,PartySupplymustrecordtheendinginventoryamount.Slide6-36CreatingCostofGooPerpetualInventoryMethodInventoryAssetO’ELiabilityRevenueExpense=+-++-Purchase

Sales++--130000130000Dec.3112000Dec.3112000Dec.31130000PurchaseinthisyearAccountPay.+-CostofGoodSold+-Jan.114000Dec.3114000Dec.3113000014000EndinginventoryPerpetualInventoryMethodInveSlide6-119PeriodicinventorysystemExercise6.8(p.255)Question9(p.252)Slide6-38PeriodicinventorysSlide6-120CompletingtheClosingProcessCloseRevenueaccounts(includingSales)toIncomeSummary.CloseExpenseaccounts(includingCostofGoodsSold)toIncomeSummary.CloseIncomeSummaryaccounttoRetainedEarnings.CloseDi