会计英语第四章作业
会计英语Chapter 4 Current Assets
会计英语
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会计英语Chapter 4 Current Assets
会计英语
出版社 经管分社
4.1 Cash
Accountants define cash as money on deposit in banks and any items that banks will accept for deposit. These items include not only coins and paper money, but also checks, money orders and travelers’ checks. Banks also accept drafts signed by customers using bank credit cards, such as Visa and MasterCard. Thus sales to customers using bank cards are cash sales, not credit sales, to the enterprise that makes the sale.
会计英语4,8,9章练习题
Chapter 4 statement of cash flow1.The net income of the ZY Company for 1999 was $260000. Additional data available relative to activities for the year are given below:A. Depreciation expenses for the year, $90000;B. gains on sale of machinery used in operations was $2400;C. Accounts receivable increased by $2000;D. Accounts payable increased by $8400;E. Patent amortization for the year was $14800;RequiredPrepare the cash flows from operating activities section of a statement of cash flows un der the indirect method.Cash flows from operating activities:Net income …………………………………………………………… $260000Adjustment for non cash revenue and expenses:expenses not requiring cashAdd depreciation 90000Patent amortization 14800cash change not from operationsdeduct gains on sale of machinery 2400Current liabilities changes:Deduct Accounts receivable increase 2000Add Accounts payable increase 8400Cash flows from operating activities $3688001.Purchased material ,$200, and equipment, $3100，paid cash.2.Paid cash to acquire land, $ 270003.Performed service for a customer and received cash $160004.Issued common stock and received $39000 cash5.Prepaid insurance $1200 for next 12months6.Paid cash for employee salary $ 24007.Acquire a long-term loan from bank $400008.Paid $5000 for cash dividend10.Gains on sale of equipment of $3000Calculate cash flow from operations, financing and investing.12200,-27100,74000Chapter 8 accounts receivable1.T/FAn account receivable that has been determined to be uncollectible is still an asset.(F) We should debit bad debts expense and credit allowance for doubtful accounts for write off bad debts.(F)Allowance for doubtful accounts is contra-asset account that offsets account receivable.(T)Gross accounts receivable appears on the balance sheet.(F)When we write off a worthless receivables, the net accounts receivable is less than before.(F)2.When we use the allowance method to record bad debts,there are three methods to estimate the amount of bad debtsPercentage of total accounts receivable outstanding(应收账款余额百分比法)Aging method（账龄分析法）Percentage-of-sales method(销货百分比法)（一）余额百分比法这是按照期末应收账款余额的一定百分比估计坏账损失的方法。
全英文初级会计第四章
-Indirect cost allocated to A = $2 × 3000 = $6000
-Indirect cost allocated to B = $2 × 2000 = $4000
To accompany Cost Accounting 12e, by Horngren/Datar/Foster. Copyright © 2006 by Pearson Education. All rights reserved.
4-6
Costing Approaches
• Actual Costing – allocates indirect costs based on the actual indirect-cost rates times the actual activity consumption
100 hours
Overhead Allocation
Rate:
$1,000 ÷ 100 DLhrs
= $10/DLhr
Overhead Applied to Job #123:
$10/DLhr X
5 hours used in Job #123
= $50
The Cost Object:
Job #123
DM DL OH
$100 $200
$50
Total Cost: $250
To accompany Cost Accounting 12e, by Horngren/Datar/Foster. Copyright © 2006 by Pearson Education. All rights reserved.
会计英语chapter 4
Example ----perpetual system ----perpetual
On Jan.1, the inventory account balance was $7,000, the whole year sales revenue was $10,000, on Dec.31, Inventory account balance was $2,000, and when its actual counted value was $1,000. cost: 7000 – 2000 = 5000 profit 10000 – 5000 = 5000 2000 – 1000 = 1000 ------- operating expenses
Service enterprise VS merchandising concern
Service enterprise Net income is then calculated by deducdeducting expenses from commissions earned or fees earned. net income = fees (commission) revenue - operating expenses.
Purchase, sales revenue and cost of goods sold
Merchandise purchases
gross purchase & net purchase net purchase = gross purchase – any purchase discounts – any purchase returns and allowances + transportation costs (paid by the buyer)
会计英语,第四章
C4 - 14
Advantages of Using Periodic Inventory
• The accounting records for inventory and
cost of goods sold are updated only at the end of the accounting period (month, year, etc.). • Thus, in the middle of the period, there is no record that shows how much inventory is on hand or how much has been sold (COGS). • This is an easy, inexpensive method.
C4 - 10
COGS Schedule
Assume that each unit cost $6
Units
Beg. Inventory + Purchases = Goods Available - End. Inventory = Cost of Goods Sold 3 8 11 5 6
Cost
C4 - 12
4-2 Two inventory systems
P110
• Two main systems for keeping merchandise inventory records:
–Perpetual inventory system - a system that keeps a running, continuous record that tracks inventories and the cost of goods sold on a day-to-day basis –Periodic inventory system - a system in which the cost of good sold is computed periodically by relying solely on physical counts without keeping day-to-day records of units sold or on hand.
会计英语——用英语了解会计的定义和运用
第一章 会计的基本框架
3
第二章 会计信息系统
3
第三章 财务报表
3
第四章 流动资产
3
第五章 长期资产
3
第六章 负债与或有事项
3
第七章 所有者权益
3
第八章 会计的其它领域—成本会计，管理会计和审计3
习题、实践操作习题演练
3
总复习 习题讲解
3
合计
30
1
Chapter 1
I. New words: 1. Account n. statement of money paid or owed for goods or services --The accounts show a profit of $9000. Open/close an account、account payable, account receivable, On account (1) pay part of the money （2）on credit --I will give you$30 on account. --buy things on account.
bank account -- Credit $8 to a customer / an account. Credit n. （1）permission to delay payment for goods and
services --No ~ is given at this shop. Payment must be in
prediction. --There is a lack of ~ between his promises
and his actions. ~ college, ~ column， ~course, ~school Corresponding a. more or less the same ~ fingerprints， the ~ period last year
国际会计第四章练习PPT课件
•
January 1, 2012
December 31, 2012
• Monetary assets 500 000
1 700 000
• Monetary liabilities 300 000
1 110 000
• General price level index:
•
January 1, 2012
• A. The nature of the products or services
• B. The nature of the production processes
• C. Relationship between operations in different geographic areas
changes in the general purchasing power of the reporting currency
over time.
(X)
2020/2/16
9
• Case Problem
• 1、The monetary assets and liabilities of Cowboy U.S. are as follows:
• 一、 Single Choice
• 1. In highly inflationary economies, firms would experience a monetary loss because of holding
• (Ｂ).
• A. Monetary liabilities
ቤተ መጻሕፍቲ ባይዱ
B. Monetary assets
• 1. In high-inflation environment, countries use inflation-adjusted models to
会计专业英语 第4章 Current Assets
A proper internal control system over cash is usually comprised of the following procedures:
◦ (1) Individuals who receive cash cannot disburse cash. ◦ (2) Individuals who handle cash cannot access
4.1 Monetary Capital
4.1.1 Cash
Cash includes cash on hand, checks, money orders and cash in bank or bank deposit that can be unconstrained withdrew from banks and other financial institutions.
It’s debited with cash shortages and credited th cash overages.
At the end of the accounting period, if there is a debit balance in the Cash Over and Short account, it should be transferred to the Miscellaneous Expense in the income statement.
◦ Second, cash is the most liquid asset and it is full of temptation to others. If cash is not well protected, it may be easily stolen or misappropriated.
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会计英语第四章作业
Matching Questions
115. Match the following terms with the appropriate definition.
1. Temporary accounts
2. Pro forma statements
3. Closing entries
4. Work sheet
5. Accounting cycle
6. Post-closing trial balance
7. Permanent accounts
8. Operating cycle of a business
9. Income summary
10. Working papers
Accounts that reflect on activities related to one or
more future periods; they include all balance sheet
accounts.
Recurring steps performed each accounting period, starting with analyzing and recording of transactions in the journal and continuing through the post-closing trial
balance (or reversing entries).
Accounts that are used to record transactions and
events for one accounting period only; they include
revenues, expenses, and withdrawals.
Analyses and other informal reports prepared by accountants when organizing the information presented in
reports and financial statements.
A temporary account used only in the closing process
and to where the balances of revenue and expense
accounts are transferred.
A spreadsheet used to draft an unadjusted trial balance,
adjusting entries, adjusted trial balance, and financial
statements.
Entries recorded at the end of each accounting period to transfer end-of-period balances in revenue, expense, and withdrawals accounts to the permanent owner's capital
account.
A list of permanent accounts and their balances from
the ledger after all closing entries are journalized and
posted. The time span from when cash is used to acquire goods and services until cash is received from the sale of those
goods and services.
Statements that show the effects of proposed transactions as if the transactions had already occurred.
136. The unadjusted trial balance of E．Pace, Consultant is entered on the partial work sheet below. Complete the work sheet using the following information:
(a) Salaries earned by employees that are unpaid and unrecorded, $500.
(b) An inventory of supplies showed $800 of unused supplies still on hand.
(c) Depreciation on equipment, $1,300.。