CHAPTER 21 UNDERSTANDING THE ISSUES
1. Given a restructuring that is not under
bankruptcy law, the gain on restructuring is measured as the amount by which the book value of the debt, including accrued inter-
est, exceeds the total of all restructured principal and interest payments. If the total payments exceed the book value, no gain is recognized. Note that the present value of the payments received is not considered in the determination of the gain. For a restructuring that is under bankruptcy law, the gain is measured as the amount by which the book value of the debt, including accrued interest, exceeds the fair value of the restructured consideration received.
The value of the consideration received is the net present value of the restructured payments.
2. A corporate reorganization is a legal rem-
edy designed to restructure the debt and/or equity of a troubled company so that the company may continue to operate and ultimately become financially sound. The ultimate goal of a reorganization is to provide a more attractive alternative than liquidation and allow the company to con-
tinue its business purpose. A corporate liquidation does not hold promise for a re-
covery but rather is designed to facilitate a termination of the business. Assets of the company are converted into a distributable form and conveyed to creditors and share-
holders to whatever extent possible. Upon completion of the distribution of assets, the business entity ceases to exist. 3. If a creditor is fully secured, by definition no
portion of their claim will become unse-
cured. However, if the value of the assets securing their claim exceeds the amount of the claim, such excess amounts will become available to unsecured creditors.
The claims of partially secured creditors exceed the value of the assets securing their claims. Therefore, the unsecured amounts are combined with the other exist-
ing unsecured claims. Once the total of all unsecured claims is identified, those unse-
cured claims will proceed against the remaining assets of the company in order of priority.
4.The statement of realization and liquidation
serves several purposes. First, it provides a reporting of the activities of the trustee in liquidation and helps discharge the fiduci-
ary responsibility. The statement also documents that available assets are being distributed properly among the various creditors and in the proper order of priority.
A review of the statement may also provide
outstanding creditors with some sense of how much they may receive in satisfaction of their claims.
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Ch. 21—Exercises
EXERCISES
Note: Some calculations may vary due to rounding or method of calculation. Answers presented have been determined using Excel.
EXERCISE 21-1
Alternative A—Income Statement Impact
Month:
First
Gain on land:
Fair market value......................................................................... $ 380,000.00 Carrying value.............................................................................. (260,000.00) Gain............................................................................................. $ 120,000.00 Gain on restructuring:
Remaining carrying value of debt:
Original carrying value............................................................. $ 566,975.00 Value of land........................................................................... (380,000.00) Current carrying value............................................................. $ 186,975.00 Sum of remaining payments:
Number of payments (40)
Amount of payment................................................................. $ 5,068.00 Sum of payments.................................................................... $ 202,704.00 Because the restructured payments exceed the current carrying
value, there is no gain on restructuring.
expense:
Interest
Effective interest rate is 4.8%
where n = 40, present value is $186,974.50,
and payment is $5,067.60.
expense:
Interest
Current carrying value................................................................. $ 186,974.50 Interest rate (4.8%/12)................................................................. 0.40% Interest expense.......................................................................... $ 747.90 Month:
Second
expense:
Interest
Current carrying value................................................................. $ 182,654.73 where n = 39, interest rate = 4.8%/12,
and the payment is $5,067.60.
Interest rate (4.8%/12)................................................................. 0.40% Interest expense.......................................................................... $ 730.62
Ch. 21—Exercises
Exercise 21-1, Concluded
Alternative B—Income Statement Impact
First
Month:
Gain on land:
Fair market value......................................................................... $ 380,000.00 Carrying value.............................................................................. (260,000.00) Gain............................................................................................. $ 120,000.00 Gain on restructuring:
Remaining carrying value of debt:
Original carrying value............................................................. $ 566,974.50 Value of land........................................................................... (380,000.00) Current carrying value............................................................. $ 186,974.50 Sum of remaining payments:
Number of payments (60)
Amount of payment................................................................. $ 3,000.00 Sum of payments.................................................................... $ 180,000.00 Because the restructured payments do not exceed the current
carrying value, there is a gain on restructuring. However, in this
case, there will be no interest expense.
Gain on restructuring:
Current carrying value............................................................. $ 186,974.50 Sum of payments.................................................................... (180,000.00) Gain......................................................................................... $ 6,974.50
Interest expense................................................................................... Not applicable
Second Month:
Interest expense................................................................................... Not applicable
Ch. 21—Exercises
EXERCISE 21-2
Effect on Net Income
Item Increase
(Decrease)
Exchange of preferred stock for debt ($5,100,000 of preferred stock,
at market value in exchange for $5,500,000 of debt)............................. $ 400,000
Exchange of land for debt ($3,000,000 of land at book value in
exchange for $4,500,000 of debt).......................................................... 1,500,000
Restructuring of remaining debt of $10,875,000 with semiannual
payments of $818,016. The sum of the payments is $16,360,320
(20 × $818,016). Since the sum of the payments exceeds the
unpaid balance, no gain is recognized on the restructuring 0
Total effect on net income............................................................................ $ 1,900,000
Retained earnings before restructuring........................................................ (3,400,000)
Adjusted retained earnings.......................................................................... $(1,500,000)
In order to eliminate the deficit in retained earnings, the contributed capital in excess of par val-
ue would be reduced to zero, and the par value of the common stock would have to be reduced
by $500,000.
EXERCISE 21-3
(1) The impact on the ratios is directly related to how each of the actions taken by manage-
ment impacts the financial statements. The recognition of impairment losses will decrease
long-lived assets and decrease net income and corresponding shareholders’ equity. Future
periods will base depreciation/amortization on the long-lived assets on the lower impaired
value, which will increase future income. The restructuring of the long-term debt will result
in a restructuring gain. However, since the future cash payments are less than the carrying
basis of the original debt, no interest expense will be recognized in future periods. The
adjustment of the par value of common stock in order to eliminate the deficit in retained
earnings will have no impact on net income nor will it change the total amount of share-
holders’ equity. Given the above, it would appear that the current ratio would be affected by
the current portion of the restructured debt. Given the fact that the payments are less than
the carrying basis of the original debt, the current portion could very easily be less and,
therefore, the current ratio could increase. It is clear that the debt restructuring would leave
the company with less debt, which, absent any other information, would result in a
decrease in the debt-to-equity ratio. However, the net effect on income of the impairment
loss and the gain on restructuring will obviously have an impact on equity. Therefore, the
debt-to-equity ratio must also reflect any changes due to these transactions. The return on
equity would be affected by the net effect on income of the impairment loss and the restruc-
turing gain. This net effect would obviously impact net income and the balance in retained
earnings. The adjustment of par would have no effect on the return on equity because the
total equity is not changed as a result of eliminating the deficit.
(2) Net income in future periods would be affected by lower depreciation/amortization expense
and no interest expense on the new restructured debt.
Ch. 21—Exercises
EXERCISE 21-4
Debt
Outstanding
B C D
A
Total amount due.............................. $ 84,000 $ 520,000 $328,000 $350,000
Less amounts applied against debt:
Value of assets transferred......... (80,000) (120,000) — (48,339)
Value of stock transferred........... (380,000) —
20,000 $328,000 $301,661
Remaining debt................................. $ 4,000 $
Total of periodic payments to be
applied against remaining debt...... $ — $ — $300,000 $320,000
Regarding Debt A: A gain on restructuring of $4,000 would be recognized because no other
consideration is being conveyed to satisfy the remaining debt. There would be no interest
expense.
Regarding Debt B: A gain on restructuring of $20,000 would be recognized because no other
consideration is being conveyed to satisfy the remaining debt. There would be no interest
expense.
Regarding Debt C: Because the total of the periodic payments is less than the remaining debt,
there would be a gain of restructuring in the amount of $28,000. Furthermore, because the pe-
riodic payments are less than the remaining debt, no interest expense would be recognized. All
periodic payments are considered to be a reduction of the revised principal amount due of
$300,000.
Regarding Debt D: Because the total of the periodic payments exceeds the remaining debt,
there is no gain on restructuring. The periodic payments totaling $320,000 therefore represent a
payment of the remaining principal amount due of $301,661 and total interest in the amount of
$18,339. The interest rate is that rate which discounts the five semiannual payments so that
their present value is $301,661. This semiannual rate is 2%, and the interest for the first six
months is $6,033 (2% × $301,661).
Ch. 21—Exercises
EXERCISE 21-5
(1) Debt Restructuring
Bankruptcy Nonbankruptcy
Approach
Approach
Carrying basis of debt:
Principal.........................................................................$2,100,000 $2,100,000
Accrued
interest.............................................................72,737 72,737
$2,172,737 $2,172,737
Basis of consideration exchanged for debt (see Note A):
Sum of future payments.................................................$2,400,000 N/A
Present value of future payments..................................N/A $1,758,004
Total...............................................................................$2,400,000 $1,758,004
Gain on forgiveness of debt.................................................$ 200,000 $ 200,000
Gain on debt restructuring (see Note B) 0
214,733
200,000 $
Total...............................................................................$
414,733
641,996
Future interest expense (see Note C)..................................$ 427,263 $
Note A: The carrying value of the debt that is not forgiven is $1,972,737 ($2,100,000 –
$200,000 + $72,737). If this debt is to be serviced over 60 months at an interest rate of 8%,
the monthly payments are $40,000. The total of these payments is $2,400,000 ($40,000 ×
60 months). The net present value of these payments using a market rate of interest of 13%
is $1,758,004.
Note B: Under the nonbankruptcy approach, a gain on restructuring results only if the sum of
the future payments is less than the carrying basis of the restructured debt. Under the bank-
ruptcy approach, a gain is recognized to the extent that the fair value of the consideration
received ($1,758,004) is less than the carrying basis of the restructured debt ($1,972,737).
Note C: Under the nonbankruptcy approach, the total interest expense is represented by the
difference between the sum of the future payments ($2,400,000) and the carrying basis of
the restructured debt ($1,972,737). In a bankruptcy approach, the total interest expense is
represented by the difference between the sum of the payments ($2,400,000) and the pre-
sent value of the future payments using a market rate of interest ($1,758,004).
Bankruptcy (2) Nonbankruptcy
Approach
Approach
Retained earnings deficit......................................................$ 500,000 $ 500,000
Gain on forgiveness and restructuring of debt.....................(200,000)
(414,733)*
85,267
300,000 $
Revised
deficit...................................................................... $
Present paid-in capital in excess of par value......................(80,000) (80,000)
Necessary reduction in par value of common stock.............$ 220,000 $ 5,267
*If the gain had been recorded directly as an increase in paid-in capital rather than as a
component of net income, the answer would remain the same.
Ch. 21—Exercises
EXERCISE 21-6
(1) Quarterly
Item Cash
Outflows
Loan A restructuring:
$3,580,000 restructured at 10%, 8 years, and monthly
installments. The monthly payment is $50,000..................................... $150,000
Loan B restructuring:
No effect on cash outflows 0
Loan C restructuring:
Debt to be paid in installments is $1,787,500 ($2,000,000 +
$37,500 – $250,000). Given n = 20 and i = 2.25%,
the payment is $111,973...................................................................... 111,973
Total quarterly cash outflows....................................................................... $261,973
(2) Effect on Net Income If
Part of a Not Part of a
Filing Formal Filing
Item Formal Loan A restructuring:
Gain on forgiveness of debt................................................... $500,000 $500,000
Gain on restructuring of remaining debt:
Total payments = $4,800,000 (96 × $50,000). Net present
value of payments is $3,295,074 versus carrying basis of
$3,580,000........................................................................ 284,926 —
Interest
expense:
Based on stated rate of 10%................................................. (81,812)
Based on imputed rate of 7.6644% (see note)...................... (68,075)
Loan B restructuring:
Gain on forgiveness of accrued interest................................ 25,000 25,000
Gain on exchange of preferred stock..................................... 100,000 100,000
Loan C restructuring:
Gain on transfer of land......................................................... 50,000 50,000
(40,219)
Interest based on 9%............................................................. (40,219)
Total effect on net income for the first quarter........................... $837,895 $566,706
Note: This is the interest rate given a periodic payment of $50,000, the 96 monthly periods,
and a present value of $3,580,000.
Ch. 21—Exercises
EXERCISE 21-7
Liabilities
Unsecured
Without
With
Partially
Fully
Priority Total
Secured Secured Priority
280,000
Accounts payable.......................... $130,000 $150,000 $
Note payable—A...........................$560,000 40,000 600,000
payable—B...........................300,000 200,000 500,000
Note
Mortgage payable.........................180,000 180,000
Accrued interest............................12,000 12,000
Other liabilities............................... $10,000
14,000 24,000
$322,000 $860,000 $10,000 $404,000 $1,596,000
Realizable
Value
Assets to be applied against
the liabilities:
Inventory $ 150,000 $130,000 $ 20,000 $ 150,000
Inventory....................................200,000 $200,000 200,000
Receivables...............................360,000 360,000 360,000
Equipment..................................300,000 300,000 300,000
Equipment..................................60,000 60,000 60,000
Land...........................................260,000 192,000 68,000 260,000
Cash...........................................60,000 $10,000 50,000 60,000
Other assets...............................45,000 45,000 45,000
$1,435,000 $322,000 $860,000 $10,000 $243,000 $1,435,000
Dividend.....................................100.0% 100.0% 100.0% 60.15%
Total consideration to be received by Note B:
Received toward partially secured portion.............................$300,000
Received toward unsecured portion:
Unsecured portion...........................................................$200,000
Dividend...........................................................................× 60.15% 120,300
Total consideration received..................................................$420,300
Ch. 21—Exercises
EXERCISE 21-8
(1) Nonbankruptcy Approach Bankruptcy Approach Alternative A Alternative B Alternative A Alternative B Income Statement Gain on sale of land: Market value of land............ $550,000 $550,000 $550,000 $550,000 Basis of land........................ (400,000) (400,000) (400,000) (400,000) Gain on sale of land............. $150,000 $150,000 $150,000 $150,000
Land transaction costs......... (35,000)
(35,000) (35,000) (35,000) Net gain on sale of land....... $115,000 $115,000 $115,000 $115,000 Gain on restructuring (see Schedule A)............. 85,000 0 355,393 361,027 Income statement effect............ $200,000 $115,000 $470,393 $476,027
Balance Sheet Before restructuring:
Land..................................... $ 400,000 $ 400,000 $ 400,000 $ 400,000 Note payable........................ 2,000,000 2,000,000 2,000,000 2,000,000 Retained earnings................ 0 0 0 0
After restructuring: Land..................................... $ 0 $ 0 $ 0 $ 0 Note payable........................ 1,400,000 1,700,000 1,129,607 1,338,973 Retained earnings................ 200,000 115,000 470,393 476,027
Schedule A
Nonbankruptcy Approach Bankruptcy Approach Alternative A Alternative B Alternative A Alternative B Original basis of debt................. $2,000,000 $2,000,000 $2,000,000 $2,000,000
Less net land proceeds ............. (515,000)
(300,000) (515,000) (300,000) Remaining balance.................... $1,485,000 $1,700,000 $1,485,000 $1,700,000 Remaining payments: Absolute value..................... (1,400,000) (1,700,000) Net present value discounted at 6%............. 1,129,607 1,338,973
Gain on restructuring................. $ 85,000 $ 0 $
355,393 $ 361,027
(2) Given a nonbankruptcy approach, Alternative B would be preferable since it involves giving
up the least net present value in satisfaction of the original debt. Furthermore, Alternative B retains some of the cash that was realized from the sale of the land. It is possible that this cash can be put to a more productive use rather than being invested in a nonoperating as-set such as idle land. If interest rates were to rise over time, it might be advantageous to lock into an interest rate for a longer period of time. Alternative B has a lower net present value of consideration given up in satisfaction of the debt than does Alternative A as set forth below.
Alternative A Alternative B Net present values: Cash from sale of land......... $ 515,000 $ 300,000 Remaining payments........... 1,129,607 1,338,973 Total..................................... $1,644,607 $1,638,973
Ch.
21—Exercises
EXERCISE 21-10
(1) The Rodak Corporation
Statement of Realization and Liquidation
For Period July 1, 2019, to August 12, 2019
Liabilities
Unsecured
Fully Partially With Without Owners’
Assets
Equity
Cash
Noncash Secured Secured Priority Priority
Beginning balances, assigned
12,000 $590,000 $200,000 $175,000 $54,000 $150,000 $ 23,000
July 1, 2019............................. $
Cash receipts:
Sale of inventory..................... 30,000 (25,000) 5,000
Collection on receivables........ 39,000 (54,000) (15,000)
Sale of securities..................... 22,500 (18,000) 4,500
Sale of machinery................... 36,000 (45,000) (9,000)
Cash disbursements:
Payment of loan...................... (12,000) (12,000)
Payment of accounts payable. (25,000) (25,000)
Payment of bank loan............. (36,000) (50,000) 14,000
Subsequently discovered:
Liabilities................................. 15,000 (15,000)
Ending balance.......................... $ 66,500 $448,000 $163,000 $125,000 $54,000 $179,000 $ (6,500)
(2) Estimated assets available:
66,500
Cash..................................................................................................... $
Estimated value of noncash assets...................................................... 410,000
$476,500
Value of all liabilities excluding unsecured creditors
priority....................................................................................... 342,000
without
Assets available for unsecured creditors without priority............................ $134,500
Estimated dividend to unsecured creditors without priority:
$134,500 ÷ $179,000 = 75%
Ch. 21—Problems
PROBLEMS
Note: Some calculations may vary due to rounding or method of calculation. Answers presented
have been determined using Excel.
PROBLEM 21-1
Atoyo Fabricating, Inc.
Evaluation of Proposed Plan of Reorganization
Consideration Suggested
to Be Received if a Monthly See
Value Liquidation Reorganization Payment
Liability Type of Claim Book
Note
Accounts payable.............Fully secured $ 40,000 $ 40,000 $ 40,000 $13,601 A
B Accounts payable.............Partially secured 74,000 66,815 58,820 20,000
C
14,560 3,000 Accounts payable.............Unsecured 20,000
14,868
Equipment note................Partially secured 338,000 334,664 338,000 9,732 D
E Shareholder note..............Partially secured 20,000 18,717 22,460 6,482 Mortgage payable............Fully secured 448,000 448,000 448,000 4,266 F
Other creditors.................Unsecured 160,000 118,944 130,838
17,099 G
$1,100,000 $1,042,008* $1,052,678 $74,180
*Difference due to rounding errors.
Note A: The payment is based on a present value of $40,000, a period of three months, and an
interest rate of 1% per month.
Note B: The present value of the three payments of $20,000 at a monthly interest rate of 1% is
$58,820. The amount to be received if a liquidation is the $46,000 plus the remaining unsecured
amount of $28,000 times 74.34%.
Note C: The present value of the five payments of $3,000 at a monthly interest rate of 1% is
$14,560. The amount to be received upon liquidation is $20,000 times 74.34%.
Note D: The payment that would be the lowest is one based on a present value of $338,000, a
term of 42 months, and an interest rate of 11%. The payment would be $9,732. The amount to
be received upon liquidation is $325,000 plus 74.34% of the unsecured portion of $13,000.
Note E: In addition to the $15,000 secured amount, the shareholder would have received
74.34% of the remaining $5,000, or $3,717, for a total of $18,717. The payments to equal 120%
of this amount ($22,460), given a term of four semiannual periods and an interest rate of 12%,
would be $6,482.
Note F: The payment is based on a present value of $448,000, a period of 360 months, and an
interest rate of 11%.
Note G: The unsecured creditors would have received 74.34% as a dividend, or $118,944.
110% of this amount would be equal to $130,838. The payments necessary to equal this pre-
sent value, given eight monthly periods and an interest rate of 12%, is $17,099.
Ch. 21—Problems
Problem 21-1, Concluded
Analysis of Creditor Claims if the Company Had Been Liquidated
Assets at Net Liabilities
Partially Realizable
Fully
Unsecured
Value
Secured Secured
Original balance................................ $1,042,000 $ 488,000 $432,000 $180,000
Distribution of assets:
To fully secured........................... (488,000) (488,000)
To partially secured..................... (386,000) (386,000)*
Reclassify partially secured.............. (46,000) 46,000 Balance............................................. $ 168,000 $ 0 $ 0 $226,000
The dividend to unsecured creditors would be 74.34% ($168,000 ÷ $226,000).
*$46,000 + $325,000 + $15,000 from insurance policy.
The goals set by management have been met. The restructuring will result in monthly payments
of $74,180 which is less than the target of $75,000 and the net present value of the restructuring
is greater than the amount that would be received under a liquidation.
PROBLEM 21-2
(a) Cash............................................................................................... 20,000
Amortization.............................................................. 115,000
Accumulated
Loss on Sale of Patents.................................................................. 5,000
Patents...................................................................................... 140,000
To record the sale of patents.
(b) Impairment Loss............................................................................. 100,000
Goodwill.................................................................................... 100,000
To record impairment loss on goodwill.
(c) Cash............................................................................................... 185,000
Expense...................................................................... 10,000
Transaction
Loss on Disposal of Land............................................................... 15,000
Land.............................................................................. 210,000
Vacant
To record sale of vacant land.
Payable.......................................................................... 230,000
Mortgage
Accrued Interest Payable............................................................... 15,000
Cash......................................................................................... 185,000
Gain on Restructuring............................................................... 60,000
To record gain on restructuring of mortgage.
Ch. 21—Problems
Problem 21-2, Continued
(d) Loan from Shareholder................................................................... 150,000
Accrued Interest Payable............................................................... 4,500
Restructured Shareholder Loan................................................ 124,500
Cash......................................................................................... 30,000 To record restructuring of shareholder loan. The net
present value of the 16 payments given an interest rate
of 6% is $124,500.
(e) Vendor Account Payable................................................................ 85,000
Cash......................................................................................... 15,000 Vendor Note Payable................................................................ 60,000
Gain on Restructuring............................................................... 10,000 To record restructuring of vendor payable.
(f) Bank Debt....................................................................................... 510,000
Accrued Interest Payable............................................................... 22,000
Securities............................................................... 62,000 Investment
Stock.......................................................................... 150,000 Treasury
Contributed Capital from Treasury Stock.................................. 50,000
Restructured Bank Debt........................................................... 252,000
Gain on Restructuring............................................................... 18,000 To record restructuring of bank debt.
(g) Bank Note....................................................................................... 60,000
Restructured Bank Note........................................................... 51,000
Gain on Restructuring............................................................... 9,000 To record restructuring of bank note.
(h) Creditor Debt.................................................................................. 120,000
Depreciation.............................................................. 150,000
Accumulated
Equipment................................................................................. 220,000 Gain on Disposal of Equipment................................................ 10,000
Restructured Creditor Debt....................................................... 40,000 To record restructuring of creditor debt.
Ch. 21—Problems
Problem 21-2, Concluded
Total Interest Expense in Connection with First Quarterly Payment
Implicit
Quarterly
Number
of
Quarterly
Interest
Reduction
Original
Unpaid
Balance
Payments Rate
Balance Payment
in Balance
payable............$245,000 $245,000 $ 0 $ 0 0 0.00%
Mortgage
Shareholder loan..............154,500 30,000 124,500 8,810.25 16 1.50
Vendor payable................85,000 25,000 60,000 10,000.00 6 0.00
debt.........................532,000 280,000 252,000 27,470.38 10 1.60
Bank
Bank note.........................60,000 9,000 51,000 17,000.00 3 0.00
Secured creditor...............120,000 80,000 40,000 6,997.12 6 1.40
Quarterly
Interest
Unpaid
Balance
Rate Interest
Mortgage payable............$ 0 0.00% $ 0
Shareholder loan..............124,500 1.50 1,867.50
Vendor payable................60,000 0.00 0
Bank debt.........................252,000 1.60 4,032.00
Bank note.........................51,000 0.00 0
Secured creditor...............40,000 1.40 560.00
Ch. 21—Problems
PROBLEM 21-3
(1) Original Adjusted
December 31, 2017 December 31, 2017
(Cr.) Debit Credit Dr. (Cr.)
Dr.
Cash...................................... $ (15,000) $ (15,000) Accounts receivable (net)......500,000 (a) $ 75,000 425,000
Inventory...............................150,000 (a) 20,000 130,000 Plant and equipment (net).....1,560,000 (b) 275,000 1,285,000
Goodwill................................150,000 (b) 150,000 0 Other
assets:
portion................6,209 (c) $ 1,616 7,825 Current
Noncurrent
portion..........28,791 (c) 1,616 27,175 payable..................(320,000) (320,000) Accounts
7% Note payable:
portion................0 (d) 240,000 (240,000) Current
portion..........(1,500,000)
(d) 300,000 (1,200,000) Noncurrent
Common stock at par............(550,000) (e) 1,000,000 (e) 550,000 (100,000) Contributed capital in excess
(e) 550,000 0
par...............................(550,000)
of
earnings.................300,000 (e) 300,000 0 Retained
2017 Net income...................240,000 (e) 240,000 0
Impairment
loss.....................(a) 95,000
loss.....................(b) 425,000
Impairment
(d) 60,000
(e) 460,000
Total................................$ 0 $2,371,616 $2,371,616 $ 0
(a) To recognize impairment in the value of receivables and inventory.
(b) To recognize impairment in the value of equipment and goodwill.
(c) To reclassify note between current and noncurrent given the new payment of $10,450
($35,000 is the present value of four payments at 7.5% interest).
(d) To recognize restructuring gain. 12 payments of $120,000 = $1,440,000. Therefore, the
restructuring gain is $60,000, and all payments are considered to be principal only. Be-
cause the total of all payments is less than the book value of the note, all payments are
considered to be principal.
(e) To record quasi-reorganization by adjusting par value of common stock and eliminating
contributed capital in excess of par.
(2) Calculation of ratios: Before Actions After
Actions
ratio............................................ 2.00 0.98
Current
Debt-to-equity.......................................... 3.25 NA* *The debt-to-equity ratio is not meaningful in that there is negative equity. The adjusted as-
sets total $1,475,000, and the adjusted debt totals $1,760,000. All assets are being fi-
nanced by debt capital.
Ch. 21—Problems
Problem 21-3, Concluded
(3) The above ratios have not improved as a result of management’s actions. However, several
benefits may not be apparent from the ratio analysis. First, management has a balance
sheet that more clearly reflects market values. Second, the recognition of impairment losses
on equipment will translate into lower depreciation expense in future years. It is also possi-
ble that impairment losses on current assets will result in lower near-term expense levels
associated with bad debt expense and cost of sales. These adjustments to expense levels
will result in an improved measure of income. Third, the restructuring of the 7% note payable
results in the company paying out a lower net present value on the debt than would have
been the case had the debt not been restructured. Finally, the elimination of the deficit will
make it easier for the company to be in a position to return a dividend to its shareholders.
PROBLEM 21-4
Carlton Company
Statement of Affairs
April 30, 2015
Estimated
Estimated Amount Estimated
Net Available for Gain (or
Book Realizable Unsecured Loss) on
Value Assets
Creditors Liquidation
Value Assets pledged with partially secured creditors:
$ 82,500 Land and building (net)..............................$ 75,000 $ (7,500)
receivable........................................0 (10,000) 10,000 Notes
(net).........................................12,000 (28,000) 40,000 Equipment
Treasury
bonds..................................23,200 (1,800) 25,000 U.S.
assets:
Free
20,000
20,000 Subscriptions
receivable............................20,000 $
stock...............................3,300 3,300 (450)
common
3,750 Groves
11,250 Cash..........................................................11,250 11,250
receivable..................................3,000 3,000 (11,000) 14,000 Accounts
57,250 Inventory (see Schedule A).......................52,175 52,175 (5,075) Estimated amount available for unsecured
creditors with and without priority..............$ 89,725
Less unsecured creditors with priority.............(7,300)
Estimated amounts for unsecured creditors
priority:
without
Net realizable amount available................$ 82,425
Deficiency (to agree to total unsecured
priority)..........................52,375
without
amount
$263,750* Total................................................................$199,925 $134,800 $(63,825)
*The total represents the original $250,250 plus the notes receivable of $10,000 plus the addi-
tional labor costs on work in process of $3,500.
Ch. 21—Problems
Problem 21-4, Concluded
Estimated
Estimated Unsecured
Amount
Book Secured With Without
Value Liabilities and Owners’ Equity
Amount
Priority
Priority
Partially secured creditors:
$ 87,500 First and second mortgages payable........$ 75,000 $ 12,500
receivable
discounted.....................0 10,000
10,000 Notes
payable—Williams............................12,000 50,500
62,500 Note
payable—Aerotex.............................23,200 1,800
25,000 Note
Unsecured creditors with priority:
payable**.....................................$6,150
6,150 Salaries
payable..............................1,150
1,150 Property
taxes
Unsecured creditors without priority:
60,000 Accounts
payable......................................60,000
$252,300*** Totals...............................................................$110,200 $7,300 $134,800
equity
11,450 Owners’
$263,750 Total liabilities and owners’ equity
**$2,650 + $3,500
***The total represents the original $238,800 plus the notes receivable discounted of $10,000
plus the unpaid labor costs on work in process of $3,500.
Schedule A
Realization of Inventory
Net
Revised
Additional
March
31
Book
Realizable
Costs
Book
Value
Value Value
(Transfers)
Raw materials................................... $15,000 $(3,000) $12,000 $ 2,400
Work in process................................ 11,250 3,000
19,525
3,500
17,750
Finished goods.................................. 27,500 27,500
30,250
52,175
$53,750 $
3,500? $57,250 $
?This amount represents additional labor costs that are unsecured with priority.
Ch. 21—Problems
PROBLEM 21-5
(a) Note Payable—Officer.................................................................... 230,000
(net)............................................................................. 210,000 Patents
Gain on Patents........................................................................ 20,000 To record transfer of patents against note.
(b) Mortgage Payable.......................................................................... 100,000
Cash......................................................................................... 100,000 To record payment on mortgage payable.
(c) Bank A Note Payable ($980,000 + $95,000).................................. 1,075,000
Land.................................................................... 700,000 Development
Marketable Securities (other current assets)............................ 80,000
Gain on Land............................................................................ 280,000
Gain on Marketable Securities.................................................. 15,000 To record transfer of land and securities against note.
(d) Bank B Note Payable..................................................................... 220,000
Loss on Equipment......................................................................... 20,000
(net)........................................................................ 240,000 Equipment
To record transfer of equipment against note.
Bank B Note Payable..................................................................... 50,000
Gain on Restructuring............................................................... 50,000 To record gain on restructuring. The 10 payments of
$55,000 are less than the remaining balance on the note
of $600,000 ($820,000 – $220,000).
(e) Note Payable—Officer.................................................................... 33,327
Mortgage
Payable.......................................................................... 23,178 Bank A Note Payable..................................................................... 95,770
Bank B Note Payable..................................................................... 55,000
Expense............................................................................. 45,075
Interest
Cash......................................................................................... 252,350 To record June 30, 2016, payments on notes (see Note A).
(f) Common Stock ($10 par value)...................................................... 200,000
Common Stock ($5 par value).................................................. 100,000
Paid-In Capital from Reduction in Par Value............................ 100,000 To record reduction in par value.
Paid-In Capital from Reduction in Par Value.................................. 100,000
Paid-In Capital in Excess of Par..................................................... 100,000
Retained
Earnings.................................................................... 200,000 To eliminate deficit in retained earnings.
Ch. 21—Problems
Problem 21-5, Concluded
Note A:
Implicit
Quarterly
Number
of
Interest
Quarterly
Original
Unpaid
Reduction
Balance
Balance Balance Payment
Payments Rate
in
Note payable—officer.......$ 400,000 $ 230,000 $ 170,000 $ 35,026.77 5 1.00%
Mortgage payable............1,500,000 100,000 1,400,000 51,178.05 40 2.00
Bank A note payable........2,100,000 1,075,000 1,025,000 111,145.03 10 1.50
Bank B note payable........820,000 270,000 550,000 55,000.00 10 0.00
Quarterly
Interest
Unpaid
Balance
Principal
Rate Payment Interest
Note payable—officer.......$ 170,000 1.00% $ 35,026.77 $ 1,700 $ 33,327
Mortgage payable............1,400,000 2.00 51,178.05 28,000 23,178
Bank A note payable........1,025,000 1.50 111,145.03 15,375 95,770
Bank B note payable........550,000 0.00 55,000.00 —55,000
$252,349.85 $45,075 $207,275
财务专业术语中英文对照表 英文中文说明 Account Accounting system 会计系统 American Accounting Association 美国会计协会 American Institute of CPAs 美国注册会计师协会 Audit 审计 Balance sheet 资产负债表 Bookkeepking 簿记 Cash flow prospects 现金流量预测 Certificate in Internal Auditing 部审计证书 Certificate in Management Accounting 管理会计证书 Certificate Public Accountant注册会计师 Cost accounting 成本会计 External users 外部使用者 Financial accounting 财务会计 Financial Accounting Standards Board 财务会计准则委员会 Financial forecast 财务预测 Generally accepted accounting principles 公认会计原则 General-purpose information 通用目的信息 Government Accounting Office 政府会计办公室 Income statement 损益表 Institute of Internal Auditors 部审计师协会 Institute of Management Accountants 管理会计师协会 Integrity 整合性 Internal auditing 部审计 Internal control structure 部控制结构 Internal Revenue Service 国收入署 Internal users部使用者 Management accounting 管理会计 Return of investment 投资回报 Return on investment 投资报酬 Securities and Exchange Commission 证券交易委员会
各种花卉的英文名 iris蝴蝶花 cockscomb鸡冠花 honeysuckle金银花chrysanthemum菊花 carnation康乃馨 orchid兰花 canna美人蕉 jasmine茉莉花 daffodil水仙花 peony牡丹 begonia秋海棠 cactus仙人掌 christmas flower圣诞花/一品红poppy罂粟 tulip郁金香 chinese rose月季 violet紫罗兰 peach flower桃花 aloe芦荟 mimosa含羞草 dandelion蒲公英
plum bolssom梅花中国水仙 new year lily 石榴 pomegranate 月桂victor's laurel 报春花 polyanthus 木棉 cotton tree 紫丁香 lilac 吊钟 lady's eardrops 紫荆 Chinese redbud 百合 lily 紫罗兰 wall flower 桃花 peach 紫藤 wisteria 杜鹃 azalea 铃兰 lily-of-the-valley 牡丹 tree peony 银杏 ginkgo 芍药 peony 蝴蝶兰 moth orchid 辛夷 violet magnolia 蟹爪仙人掌 Christmas cactus 玫瑰 rose 郁金香 tulip
茶花 common camellia 千日红 common globe-amaranth 非洲堇 African violet 栀子花 cape jasmine 木槿 rose of Sharon 风信子 hyacinth 百子莲 African lily 牵牛花 morning glory 君子兰 kefir lily 荷包花 lady's pocketbook 含笑花 banana shrub 非洲菊 African daisy 含羞草 sensitive plant 茉莉 Arabian jasmine 猪笼草 pitcher plant 凌霄花 creeper 树兰 orchid tree 康乃馨coronation 鸡冠花 cockscomb 荷花lotus 鸢萝 cypress vine 菩提 botree
会计术语中英对照 文稿归稿存档编号：[KKUY-KKIO69-OTM243-OLUI129-G00I-FDQS58-
一、会计与会计理论 会计 accounting 决策人 Decision Maker 投资人 Investor 股东 Shareholder 债权人 Creditor 财务会计 Financial Accounting 管理会计 Management Accounting 成本会计 Cost Accounting 私业会计 Private Accounting 公众会计 Public Accounting 注册会计师 CPA Certified Public Accountant 国际会计准则委员会 IASC 美国注册会计师协会 AICPA 财务会计准则委员会 FASB 管理会计协会 IMA 美国会计学会 AAA 税务稽核署 IRS 独资企业 Proprietorship 合伙人企业 Partnership 公司 Corporation 会计目标 Accounting Objectives 会计假设 Accounting Assumptions 会计要素 Accounting Elements 会计原则 Accounting Principles 会计实务过程 Accounting Procedures 财务报表 Financial Statements 财务分析Financial Analysis 会计主体假设 Separate-entity Assumption 货币计量假设 Unit-of-measure Assumption 持续经营假设 Continuity(Going-concern) Assumption 会计分期假设 Time-period Assumption 资产 Asset 负债 Liability 业主权益 Owner's Equity 收入 Revenue 费用 Expense
财会常见名词英汉对照表 （1）会计与会计理论 会计accounting 决策人Decision Maker 投资人Investor 股东Shareholder 债权人Creditor 财务会计Financial Accounting 管理会计Management Accounting 成本会计Cost Accounting 私业会计Private Accounting 公众会计Public Accounting 注册会计师CPA Certified Public Accountant 国际会计准则委员会IASC 美国注册会计师协会AICPA 财务会计准则委员会FASB 管理会计协会IMA 美国会计学会AAA 税务稽核署IRS 独资企业Proprietorship 合伙人企业Partnership 公司Corporation
会计目标Accounting Objectives 会计假设Accounting Assumptions 会计要素Accounting Elements 会计原则Accounting Principles 会计实务过程Accounting Procedures 财务报表Financial Statements 财务分析Financial Analysis 会计主体假设Separate-entity Assumption 货币计量假设Unit-of-measure Assumption 持续经营假设Continuity(Going-concern) Assumption 会计分期假设Time-period Assumption 资产Asset 负债Liability 业主权益Owner's Equity 收入Revenue 费用Expense 收益Income 亏损Loss 历史成本原则Cost Principle 收入实现原则Revenue Principle 配比原则Matching Principle 全面披露原则Full-disclosure (Reporting) Principle
会计方面专业术语的xx acceptance承兑 account账户 accountant会计员 accounting会计 accounting system会计制度 accounts payable应付账款 accounts receivable应收账款 accumulated profits累积利益 adjusting entry调整记录 adjustment调整 administration expense管理费用 advances预付 advertising expense广告费 agency代理 agent代理人 agreementxx allotments分配数 allowance津贴 amalgamation合并 amortization摊销
amortized cost应摊成本 annuities年金 applied cost已分配成本 applied expense已分配费用 applied manufacturing expense己分配制造费用apportioned charge摊派费用 appreciation涨价 article of association公司章程 assessment课税 assets资产 attorney fee律师费 audit审计 auditor审计员 average平均数 average cost平均成本 bad debt坏账 balance余额 balance sheet资产负债表 bank account银行账户 bank balance银行结存 bank charge银行手续费
bank deposit银行存款 bank discount银行贴现bank draft银行汇票 bank loan银行借款 bank overdraft银行透支bankers acceptance银行承兑bankruptcy破产 bearer持票人 beneficiary受益人 bequest遗产 bill票据 bill of exchange汇票 bill of lading提单 bills discounted贴现票据bills payable应付票据 bills receivable应收票据board of directors董事会bonds债券 bonus红利 book value账面价值bookkeeper簿记员
植物花卉中英文对照、花卉英文名大全 金橘－－－－－－－－－－－－－－kumquat 米仔兰(米兰）－－－－－－－－－ milan tree 变叶木－－－－－－－－－－－－－croton 一品红－－－－－－－－－－－－－poinsettia 扶桑－－－－－－－－－－－－－－Chinese hibiscus 吊灯花－－－－－－－－－－－－－fringed hibiscus 马拉巴栗（发财树)－－－－－－－ Guiana chestnut 山茶－－－－－－－－－－－－－－camellia 云南山茶－－－－－－－－－－－－Yunnan camellia 金花茶－－－－－－－－－－－－－golden camellia 瑞香－－－－－－－－－－－－－－daphne 结香－－－－－－－－－－－－－－paper bush 倒挂金钟－－－－－－－－－－－－fuchsia 八角金盘－－－－－－－－－－－－Japan fatsia 常春藤－－－－－－－－－－－－－ivy 鹅掌柴－－－－－－－－－－－－－umbrella tree 杜鹃花－－－－－－－－－－－－－rhododendron 茉莉花－－－－－－－－－－－－－jasmine 桂花－－－－－－－－－－－－－－sweet osmanthus 夹竹桃－－－－－－－－－－－－－sweet-scented oleander 黄花夹竹桃－－－－－－－－－－－lucky-nut-thevetia 鸡蛋花－－－－－－－－－－－－－frangipani 龙吐珠－－－－－－－－－－－－－bleeding-heart glorybower 夜香树（木本夜来香）－－－－－－night jasmine 鸳鸯茉莉－－－－－－－－－－－－broadleaf raintree 栀子花－－－－－－－－－－－－－cape jasmine 蝴蝶兰－－－－－－－－－－－－－moth orchid 卡特兰－－－－－－－－－－－－－cattleya 石斛－－－－－－－－－－－－－－dendrobium 兜兰－－－－－－－－－－－－－－lady slipper 兰花－－－－－－－－－－－－－－orchid 春兰－－－－－－－－－－－－－－goering cymbidium
会计专业专业术语中英文对照 一、会计与会计理论 会计 accounting 决策人 Decision Maker 投资人 Investor 股东 Shareholder 债权人 Creditor 财务会计 Financial Accounting 管理会计 Management Accounting 成本会计 Cost Accounting 私业会计 Private Accounting 公众会计 Public Accounting 注册会计师 CPA Certified Public Accountant 国际会计准则委员会 IASC 美国注册会计师协会 AICPA 财务会计准则委员会 FASB 管理会计协会 IMA 美国会计学会 AAA 税务稽核署 IRS 独资企业 Proprietorship 合伙人企业 Partnership 公司 Corporation
会计目标 Accounting Objectives 会计假设 Accounting Assumptions 会计要素 Accounting Elements 会计原则 Accounting Principles 会计实务过程 Accounting Procedures 财务报表 Financial Statements 财务分析Financial Analysis 会计主体假设 Separate-entity Assumption 货币计量假设 Unit-of-measure Assumption 持续经营假设 Continuity(Going-concern) Assumption 会计分期假设 Time-period Assumption 资产 Asset 负债 Liability 业主权益 Owner's Equity 收入 Revenue 费用 Expense 收益 Income 亏损 Loss 历史成本原则 Cost Principle 收入实现原则 Revenue Principle 配比原则 Matching Principle
iris 蝴蝶花hon eysuckle 金银花 chrysanthemum 菊花 carnation 康乃馨 orchid 兰花 canna 美人蕉 jasmine 茉莉花 daffodil 水仙花 peony 牡丹 begonia 秋海棠 cactus 仙人掌 christmas flower 圣诞花/一品红 poppy 罂粟 tulip 郁金香 chi nese rose 月 季 violet 紫罗兰 peach flower 桃花 aloe 芦荟 mimosa 含羞草 dandelion 蒲公英 plum bolssom 梅花中国水仙new year lily
石榴pomegranate 月桂victor's laurel 报春花polyanthus 木棉cotton tree 紫丁香lilac 吊钟lady's eardrops 紫荆Chinese redbud 百合lily 紫罗兰wall flower 桃花peach 紫藤wisteria 杜鹃azalea 铃兰lily-of-the-valley 牡丹tree peony 银杏ginkgo 芍药peony 蝴蝶兰moth orchid 辛夷violet magnolia 蟹爪仙人掌Christmas cactus 玫瑰rose 郁金香tulip
非洲堇African violet 栀子花cape jasmine 木槿rose of Sharon 风信子hyacinth 百子莲African lily 牵牛花morning glory 君子兰kefir lily 荷包花lady's pocketbook 含笑花bana shrub 非洲菊African daisy 含羞草sensitive plant 茉莉Arabian jasmine 猪笼草pitcher plant 凌霄花creeper 树兰orchid tree 康乃馨coronation 荷花lotus 鸢萝cypress vine 菩提botree 大理花dahlia
Accounting system 会计系统 American Accounting Association 美国会计协会American Institute of CPAs 美国注册会计师协会 Audit 审计 Balance sheet 资产负债表 Bookkeepking 簿记 Cash flow prospects 现金流量预测 Certificate in Internal Auditing 内部审计证书 Certificate in Management Accounting 管理会计证书Certificate Public Accountant注册会计师 Cost accounting 成本会计 External users 外部使用者 Financial accounting 财务会计 Financial Accounting Standards Board 财务会计准则委员会Financial forecast 财务预测 Generally accepted accounting principles 公认会计原则General-purpose information 通用目的信息Government Accounting Office 政府会计办公室 Income statement 损益表 Institute of Internal Auditors 内部审计师协会 Institute of Management Accountants 管理会计师协会Integrity 整合性 Internal auditing 内部审计 Internal control structure 内部控制结构 Internal Revenue Service 国内收入署 Internal users 内部使用者 Management accounting 管理会计 Return of investment 投资回报 Return on investment 投资报酬 Securities and Exchange Commission 证券交易委员会Statement of cash flow 现金流量表 Statement of financial position 财务状况表 Tax accounting 税务会计 Accounting equation 会计等式 Articulation 勾稽关系 Assets 资产 Business entity 企业个体 Capital stock 股本 Corporation 公司 Cost principle 成本原则 Creditor 债权人 Deflation 通货紧缩 Disclosure 批露 Expenses 费用
会计方面专业术语的英文翻译 acceptance 承兑 account 账户 accountant 会计员 accounting 会计 accounting system 会计制度 accounts payable 应付账款 accounts receivable 应收账款 accumulated profits 累积利益 adjusting entry 调整记录 adjustment 调整 administration expense 管理费用 advances 预付 advertising expense 广告费 agency 代理 agent 代理人 agreement 契约 allotments 分配数 allowance 津贴 amalgamation 合并 amortization 摊销 amortized cost 应摊成本 annuities 年金 applied cost 已分配成本 applied expense 已分配费用 applied manufacturing expense 己分配制造费用apportioned charge 摊派费用 appreciation 涨价 article of association 公司章程 assessment 课税 assets 资产 attorney fee 律师费 audit 审计 auditor 审计员 average 平均数 average cost 平均成本 bad debt 坏账 balance 余额
balance sheet 资产负债表 bank account 银行账户 bank balance 银行结存 bank charge 银行手续费 bank deposit 银行存款 bank discount 银行贴现 bank draft 银行汇票 bank loan 银行借款 bank overdraft 银行透支 bankers acceptance 银行承兑 bankruptcy 破产 bearer 持票人 beneficiary 受益人 bequest 遗产 bill 票据 bill of exchange 汇票 bill of lading 提单 bills discounted 贴现票据 bills payable 应付票据 bills receivable 应收票据 board of directors 董事会 bonds 债券 bonus 红利 book value 账面价值 bookkeeper 簿记员 bookkeeping 簿记 branch office general ledger 支店往来账户broker 经纪人 brought down 接前 brought forward 接上页 budget 预算 by-product 副产品 by-product sales 副产品销售 capital 股本 capital income 资本收益 capital outlay 资本支出 capital stock 股本 capital stock certificate 股票 carried down 移后 carried forward 移下页 cash 现金 cash account 现金账户 cash in bank 存银行现金 cash on delivery 交货收款
常见花的英文单词 中国水仙new year lily 石榴pomegranate 月桂victor's laurel 报春花polyanthus 木棉cotton tree 紫丁香lilac 吊钟lady's eardrops 紫荆Chinese redbud 百合lily 紫罗兰wall flower 桃花peach 紫藤wisteria 杜鹃azalea 铃兰lily-of-the-valley 牡丹tree peony 银杏ginkgo 芍药peony 蝴蝶兰moth orchid 辛夷violet magnolia 蟹爪仙人掌Christmas cactus 玫瑰rose 郁金香tulip 茶花common camellia 千日红common globe-amaranth 非洲堇African violet 栀子花cape jasmine 木槿rose of Sharon 风信子hyacinth 百子莲African lily 牵牛花morning glory 君子兰kefir lily 荷包花lady's pocketbook 含笑花banana shrub 非洲菊African daisy 含羞草sensitive plant 茉莉Arabian jasmine 猪笼草pitcher plant 凌霄花creeper 树兰orchid tree 康乃馨coronation 鸡冠花cockscomb
荷花lotus 鸢萝cypress vine 菩提botree 大理花dahlia 圣诞百合Christmas bell 一串红scarlet sage 紫薇crape myrtle 勿忘我forget-me-not 睡莲water lily 文心兰dancing lady 吊兰spider plant 白头翁pappy anemone 向日葵sunflower 矢车菊cornflower 竹bamboo 金鱼草snapdragon 夹竹桃oleander 金盏花pot marigold 月季花china rose 金银花honeysuckle 长春花old maid 金莲花garden nasturtium 秋海棠begonia 非洲凤仙African touch-me-not 美人蕉canna 曼陀罗angel's trumpet 晚香玉tuberose 梅花flowering apricot 野姜花ginger lily 圣诞红common poinsettia 菊花chrysanthemum 虞美人Iceland poppy 昙花epiphyllum 鸢尾iris 龙胆royal blue 腊梅winter sweet 麒麟花crown of thorns 木芙蓉cotton rose 九重葛paper flower 火鹤花flamingo flower 三色堇tricolor viola 嘉德丽亚兰cattleya
一、会计与会计理论 会计accounting 决策人Decision Maker 投资人Investor 股东Shareholder 债权人Creditor 财务会计Financial Accounting 管理会计Management Accounting 成本会计Cost Accounting 私业会计Private Accounting 公众会计Public Accounting 注册会计师CPA Certified Public Accountant 国际会计准则委员会IASC 美国注册会计师协会AICPA 财务会计准则委员会FASB 管理会计协会IMA 美国会计学会AAA 税务稽核署IRS 独资企业Proprietorship 合伙人企业Partnership 公司Corporation 会计目标Accounting Objectives 会计假设Accounting Assumptions 会计要素Accounting Elements 会计原则Accounting Principles 会计实务过程Accounting Procedures 财务报表Financial Statements 财务分析Financial Analysis 会计主体假设Separate-entity Assumption 货币计量假设Unit-of-measure Assumption 持续经营假设Continuity(Going-concern) Assumption 会计分期假设Time-period Assumption 资产Asset 负债Liability 业主权益Owner's Equity 收入Revenue 费用Expense 收益Income
亚洲常见花卉英文译名Abutilon pictum / Thomsonii风铃花 Abutilon Hybriden金铃花 Acacia dealbata银栲皮树 Acaena / New Zealand burr无瓣蔷薇(纽西兰球果属植物) Acanthus叶蓟属植物 Acer palmatum掌叶槭 Achillea / Yarrow丽纹锯草(蓍草属植物) Achimenes / Cupid's bower / hot water plant长筒花Actinidia狝猴桃<--攀缘植物 Adenium obesum沙漠玫瑰(天宝花) Adiantum capilus-veneris / True maidenhair fern铁线蕨Aegopodium podagraia 'Variegata'斑叶羊角芹 African daisy非洲菊 Agapanthus / African lily百子莲 Agastache藿香 Agave龙舌兰属植物 Ageratum houstonianum紫花霍香蓟 Agrostemma githago / Corn cockle麦仙翁 Ajuga reptans匍筋骨草 Akebia木通(别名:巧克力藤蔓) <--攀缘植物
Alcea rosea / Hollyhock蜀葵 Alchemilla / Lady's mantle斗篷草 Allium葱属 Aloe芦荟属植物 Alyssum香荠属植物 Amaranthus苋属植物 Ampelopsis山葡萄<--攀缘植物 Ampelopsis brevipedunculata蛇白蔹 Anchusa capensis / Alkanet非洲勿忘草Androsace carnea / Rock jasmine铜钱花Anethu, graveolens / Dill莳萝 Annual phlox福禄考 Antennaria dioica山荻 Anthemis西洋甘菊 Anthemis punctata subsp cupaniana春黄菊Antirrhinum majus / Snapdragon金鱼草 Arabis / Rock cress南芥菜(岩水芹) Aralia elata黃斑高? Arbutus野草莓樹 Arctotis Fastuosa / Monarch of the veldt南非雛菊Arenaria balearica蚤綴
一些有用的会计术语 A: A share Ａ股；甲类股份 abatement of tax 减税；减扣免税额 ABN AMRO Bank N.V. 荷兰银行 above-the-line expenditure 线上项目支出；经常预算支出above-the-line receipt 线上项目收入；经常预算收入ABSA Asia Limited 南非联合亚洲有限公司 absolute change 绝对数值变更 absolute expenditure 实际开支 absolute guideline figure 绝对准则数字 absolute interest 绝对权益 absolute order of discharge 绝对破产解除令 absolute profit margin 绝对利润幅度 absolute value 实值；绝对值 absolutely vested interest 绝对既得权益 absorbed cost 已吸收成本；已分摊成本 absorption 吸收；分摊；合并 absorption rate 吸收率；摊配率；分摊率 ACB Finance Limited 亚洲商业财务有限公司acceptable form of reciprocity 合理的互惠条件acceptable rate 适当利率；适当汇率
acceptance agreement 承兑协议 acceptance for honour 参加承兑 acceptor 承兑人；接受人；受票人 acceptor for honour 参加承兑人 accident insurance 意外保险 Accident Insurance Association of Hong Kong 香港意外保险公会accident insurance scheme 意外保险计划 accident year basis 意外年度基准 accommodation 通融；贷款 accommodation bill 通融票据；空头票据 accommodation party 汇票代发人 account balance 帐户余额；帐户结余 account book 帐簿 account collected in advance 预收款项 account current book 往来帐簿 account of after-acquired property 事后取得的财产报告account of defaulter 拖欠帐目 account payable 应付帐款 account payee only [A/C payee only] 只可转帐；存入收款人帐户account receivable 应收帐款 account receivable report 应收帐款报表 account statement 结单；帐单；会计财务报表 account title 帐户名称；会计科目
A (1)ABC 作业基础成本计算 A (2)absorbed overhead 已汲取制造费用 A (3)absorption costing 汲取成本计算 A (4)account 帐户,报表 A (5)accounting postulate 会计假设 A (6)accounting series release 会计公告文件 A (7)accounting valuation 会计计价 A (8)account sale 承销清单 A (9)accountability concept 经营责任概念 A (10)accountancy 会计职业 A (11)accountant 会计师 A (12)accounting 会计 A (13)agency cost 代理成本 A (14)accounting bases 会计基础 A (15)accounting manual 会计手册 A (16)accounting period 会计期间 A (17)accounting policies 会计方针 A (18)accounting rate of return 会计酬劳率 A (19)accounting reference date 会计参照日 A (20)accounting reference period 会计参照期间A (21)accrual concept 应计概念 A (22)accrual expenses 应计费用
A (23)acid test ration 速动比率(酸性测试比率) A (24)acquisition 购置 A (25)acquisition accounting 收购会计 A (26)activity based accounting 作业基础成本计算A (27)adjusting events 调整事项 A (28)administrative expenses 行政治理费 A (29)advice note 发货通知 A (30)amortization 摊销 A (31)analytical review 分析性检查 A (32)annual equivalent cost 年度等量成本法 A (33)annual report and accounts 年度报告和报表A (34)appraisal cost 检验成本 A (35)appropriation account 盈余分配帐户 A (36)articles of association 公司章程细则 A (37)assets 资产 A (38)assets cover 资产保障 A (39)asset value per share 每股资产价值 A (40)associated company 联营公司 A (41)attainable standard 可达标准 A (42)attributable profit 可归属利润 A (43)audit 审计 A (44)audit report 审计报告
AICPA财务英语中英文对照表 A account 账户 account payable 应付账款 accounting system 会计系统 Accounting Principle Board (APB) （美国）会计准则委员会 accrual basis 权责发生制（应计制） accumulated depreciation 累计折旧 account FORMat 账户格式 accrue 应计 accounting cycle 会计循环 accounts receivable 应收账款 accounts receivable turnover 应收账款周转率 accelerated depreciation 加速折旧 adjusting entries 调整分录 adjustment 调整 aging of accounts receivable 应收账款账龄分析法 allowance for bad debts 坏账准备 allowance for doubtful accounts 坏账准备 allowance for uncollectible 坏账准备 allowance method 备抵法 allowance for depreciation 折旧备抵账户 amortization 摊销 annual report 年度报告 annuity 年金 assets 资产
audit 审计 auditor’s opinion 审计意见书 auditor 审计师 audit committee 审计委员会 average collection period 平均收账期AICPA 美国注册会计师协会 APB Opinions 会计准则委员会意见书B balance 余额 bad debt recoveries 坏账收回 bad debts 坏账 bad debts expense 坏账费用 balance sheet 资产负债表 balance sheet equation 资产负债表等式basket purchase 一揽子采购 betterment 改造投资，改造工程投资bearer instrument 不记名票据 bonds 债券 book of original entry 原始分录账簿 book value 账面价值 C capital 资本 capital stock certificate 股本证明书 cash basis 收付实现制（现金收付制）cash dividends 现金股利 cash flow statement 现金流量表 carrying amount 账面价值 carrying value 账面价值 callable bonds 可赎债券，可提前兑回债券
流动资产CURRENT ASSETS： 现金Cash on hand 银行存款Cash in bank 有价证券Marketable securitiea 应收票据Notes receivable 应收帐款Accounts receivable 坏帐准备Provision for bad debts 预付帐款Advances to suppliers 其他应收款Other receivables 待摊费用Deferred and prepaid expenses 存货Inventories 存货变现损失准备Provision for loss on realization of inventory 一年内到期的长期债券投资Long-term investments maturing within one year 其他流动资产Other current assets 长期投资Long-term in vestments 一年以上的应收款项Receivables collectable after one year 固定资产：FIXED ASSETS: 固定资产原价Fixed assets-cost 累计折旧Accumulated depreciation 固定资产净值Fixed assets-net value 固定资产清理Disposal of fixed assets 在建工程Construction in progress 无形资产INTANGIBLE ASSETS: 场地使用权Land occupancy right 工业产权及专有技术Proprietary technology and patents 其他无形资产Other intangibles assets 其他资产：OTHER ASSETS 开办费Organization expenses 筹建期间汇兑损失Exchange loss during start-up peried 递延投资损失Deferred loss on investments 递延税款借项Deferred taxes debit 其他递延支出Other deferred expenses 待转销汇兑损失Unamortized cxehange loss 流动负债CURRENT LIABILITIES: 短期借款Short term loans 应付票据Notes payable 应付帐款Accounts payable 应付工资Accrued payroll 应交税金Taxes payable 应付利润Dividends payable 预收货款Advances from customers 其他应付款Other payables
一、资产类 Assets 流动资产 Current assets 货币资金 Cash and cash equivalents 1001现金 Cash 1002 银行存款 Cash in bank 1009 其他货币资金 Other cash and cash equivalents '100901 外埠存款 Other city Cash in bank '100902 银行本票 Cashier's cheque '100903 银行汇票 Bank draft '100904 信用卡 Credit card '100905 信用证保证金 L/C Guarantee deposits '100906 存出投资款 Refundable deposits 1101 短期投资 Short-term investments '110101 股票 Short-term investments - stock '110102 债券 Short-term investments - corporate bonds '110103 基金 Short-term investments - corporate funds '110110 其他 Short-term investments - other 1102 短期投资跌价准备 Short-term investments falling price reserves 应收款 Account receivable 1111 应收票据 Note receivable 银行承兑汇票 Bank acceptance 商业承兑汇票 Trade acceptance 1121 应收股利 Dividend receivable 1122 应收利息 Interest receivable 1131 应收账款 Account receivable 1133 其他应收款 Other notes receivable 1141 坏账准备 Bad debt reserves 1151 预付账款 Advance money 1161 应收补贴款 Cover deficit by state subsidies of receivable 库存资产 Inventories 1201 物资采购 Supplies purchasing 1211 原材料 Raw materials 1221 包装物 Wrappage 1231 低值易耗品 Low-value consumption goods 1232 材料成本差异 Materials cost variance 1241 自制半成品 Semi-Finished goods 1243 库存商品 Finished goods 1244 商品进销差价 Differences between purchasing and selling price 1251 委托加工物资 Work in process - outsourced 1261 委托代销商品 Trust to and sell the goods on a commission basis 1271 受托代销商品 Commissioned and sell the goods on a commission basis 1281 存货跌价准备 Inventory falling price reserves 1291 分期收款发出商品 Collect money and send out the goods by stages