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会计学原理英文ppt课件Chapter_05Accounting for Merchandising Operations

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会计学课件会计学原理(免费)

会计学课件会计学原理(免费)

企业会计制度
两则两制
1992-1993年,我国进行了重大的财务会计制度改 革,先后发布了《企业会计准则---基本准则》和 《企业财务通则》,以及分行业的会计制度(简称两 则两制),并与1993年7月1日起由所有企业施行. “两则两制”实现了我国会计核算模式的转换,为 会计改革奠定了基础.但还存在局限性,还缺乏客观 真实性、可比性和可操作性. 我国的法律、行政法规和会计国际化进程要求提 高会计信息质量,因此,要建立与社会主义市场经济 11 相适应的新型会计核算模式---统一会计核算制度.
MBA核心必修课
会 计 学
主讲人
吴 晓 光
曾为下列企业做过企业财务和纳税避税方面的咨询或策划: (2000年以后的) 1 航天科技集团下属各公司(全国) 2 鲁能英大集团公司(北京) 3 中谷集团连云港经贸有限公司(连云港) 4 济南十方环保有限公司(济南) 5 成都塞维芦荟制品有限公司(成都) 6 靳羽西化妆品(深圳)有限公司(深圳) 7 北京企业问鼎有限公司(北京) 8 朗逊青岛分公司(青岛) 9 铁道部永济电机厂(山西永济) 10 陕西移动通信西安分公司 5 11 陕西省邮电器材公司
吴 晓 光
MBA核心必修课
会 计 学
主讲人
吴 晓 光
在西安交大管理学院主讲的课程有： MBA《会计学》、 MBA《企业财务报表分析》、MBA《公司理财》、MBA《税 收理论与实务》、MBA《管理会计》。教学中以精彩案例教 学在交大管理学院著称，1999年荣获西安交通大学管理学 院首届MBA教学质量优秀奖(全管理学院60多名给MBA上课 的教师中，经管理学院教学质量评估委员会评审和MBA学生 评议,只有我一人获奖). 任教以来,多次荣获西安交通大学教务处颁发的青年教 师授课竞赛一等、二等奖,多次荣获西安交通大学教务处颁 发的优秀教材奖和优秀讲义奖、多次荣获西安交通大学教 务处颁发的优秀教学成果一等、二等奖,1999年荣获陕西省 3 优秀教学成果特等奖.

会计学原理（英文）

会计学原理（英文）

会计学原理（英文）《会计学原理（英文）》教学大纲王燕祥编写工商管理专业课程教学大纲610 目录Chapter 1 Accounting in Action 第一章会计实践活动 (613)学习目标 (613)Teaching and homework hours 教学与作业时间 (613)Reading and References 学生必读和参考书目 (613)Chapter 2 The Recording Process 第二章记录过程 (615)学习目标 (615)Teaching and homework hours 教学与作业时间 (615)Reading and References 学生必读和参考书目 (615)Chapter 3 Adjusting the Accounts 第三章调整账户 (617)学习目标 (617)Teaching and homework hours 教学与作业时间 (617)Reading and References 学生必读和参考书目 (617)Chapter 4 Completion of the Accounting Cycle 第四章完成会计循环 (619)学习目标 (619)Teaching and homework hours 教学与作业时间 (619)Reading and References 学生必读和参考书目 (619)Chapter 5 Accounting for Merchandising Operations 第五章商品经营活动的会计核算 (621)学习目标 (621)Teaching and homework hours 教学与作业时间 (621)Reading and References 学生必读和参考书目 (621)Chapter 6 Inventories 第六章存货 (623)学习目标 (623)Reading and References 学生必读和参考书目 (624)Chapter 7 Accounting Information Systems 第七章会计信息系统 (626)学习目标 (626)Teaching and homework hours 教学与作业时间 (626)Reading and References 学生必读和参考书目 (626)Chapter 8 Internal Control and Cash 第八章内部控制和现金(628)学习目标 (628)Teaching and homework hours 教学与作业时间 (628)Reading and References 学生必读和参考书目 (628)Chapter 9 Accounting for Receivables 第九章应收款项的会计核算 (630)学习目标 (630)Teaching and homework hours 教学与作业时间 (630)Reading and References 学生必读和参考书目 (630)Chapter 10 Plant Assets, Natural Resources, and Intangible Assets 第十章厂场资产、自然资源和无形资产 (632)会计学原理（英文）学习目标 (632)Teaching and homework hours 教学与作业时间 (632)Reading and References 学生必读和参考书目 (633)Chapter 11 Current Liabilities and Payroll Accounting 第十一章流动负债和工资的核算 (634)学习目标 (634)Teaching and homework hours 教学与作业时间 (634)Reading and References 学生必读和参考书目 (634)Chapter 12 Accounting Principles 第十二章会计原则 (636)学习目标 (636)Reading and References 学生必读和参考书目 (636)Chapter 13 Accounting for Partnerships 第十三章合伙企业的会计核算 (638)学习目标 (638)Teaching and homework hours 教学与作业时间 (638)Reading and References 学生必读和参考书目 (638)Chapter 14 Corporations: Organization and Capital Stock Transactions 第十四章公司：组织和股本交易 (640)学习目标 (640)Teaching and homework hours 教学与作业时间 (640)Reading and References 学生必读和参考书目 (640)Chapter 15 Corporations: Dividends, Retained Earnings, and Income Reporting 第十五章股利、保留盈余和收益报告 (642) 学习目标 (642)Teaching and homework hours 教学与作业时间 (642)Reading and References 学生必读和参考书目 (642)Chapter 16 Long-T erm Liabilities 第十六章长期负债 (644)学习目标 (644)Teaching and homework hours 教学与作业时间 (644)Reading and References 学生必读和参考书目 (644)Chapter 17 Investments 第十七章投资 (646)学习目标 (646)Teaching and homework hours 教学与作业时间 (646)Reading and References 学生必读和参考书目 (646)Chapter 18 The Statement of Cash Flows 第十八章现金流量表(648)学习目标 (648)Teaching and homework hours 教学与作业时间 (648)Reading and References 学生必读和参考书目 (648)Chapter 19 Financial Statement Analysis 第十九章财务报表分析 (650)学习目标 (650)Teaching and homework hours 教学与作业时间 (650)Reading and References 学生必读和参考书目 (650)Chapter 20 Managerial Accounting 第二十章管理会计 (652) 611工商管理专业课程教学大纲612 学习目标 (652)Teaching and homework hours 教学与作业时间 (652)Reading and References 学生必读和参考书目 (652)Chapter 21 Job Order Cost Accounting 第二十一章分批成本法(654)学习目标 (654)Teaching and homework hours 教学与作业时间 (654)Reading and References 学生必读和参考书目 (654)Chapter 22 Process Cost Accounting 第二十二章分步成本法(656)学习目标 (656)Teaching and homework hours 教学与作业时间 (656)Reading and References 学生必读和参考书目 (657)Chapter 23 Cost-V olume-Profit Relationships 第二十三章本量利分析 (658)学习目标 (658)Teaching and homework hours 教学与作业时间 (658)Reading and References 学生必读和参考书目 (659)Chapter 24 Budgetary Planning 第二十四章编制预算 (660)学习目标 (660)Teaching and homework hours 教学与作业时间 (660)Reading and References 学生必读和参考书目 (660)Chapter 25 Budgetary Control and Responsibility Accounting 第二十五章预算控制和责任会计 662 学习目标 (662)Teaching and homework hours 教学与作业时间 (662)Reading and References 学生必读和参考书目 (662)Chapter 26 Performance Evaluation through Standard Costs 第二十六章利用标准成本进行业绩评价 (664)学习目标 (664)Teaching and homework hours 教学与作业时间 (664)Reading and References 学生必读和参考书目 (664)Chapter 27 Incremental Analysis and Capital Budgeting 第二十七章增量分析和资本预算 (666)学习目标 (666)Teaching and homework hours 教学与作业时间 (667)Reading and References 学生必读和参考书目 (667)会计学原理（英文）Chapter 1 Accounting in Action第一章会计实践活动STUDY OBJECTIVESAfter studying this chapter you should be able to:1．Explain what accounting is.2．IDENTIFY THE USERS AND USES OF ACCOUNTING.3．UNDERSTAND WHY ETHICS IS A FUNDAMENTAL BUSINESS CONCEPT.4．EXPLAIN THE MEANING OF GENERALLY ACCEPTED ACCOUNTING PRINCIPLESAND THE COST PRINCIPLE.5．EXPLAIN THE MEANING OF THE MONETARY UNIT ASSUMPTION AND THE ECONOMIC ENTITY ASSUMPTION.6．STATE THE BASIC ACCOUNTING EQUATION AND EXPLAIN THE MEANING OF ASSETS, LIABILITIES, ANDOWNER’S EQUITY.7．ANALYZE THE EFFECT OF BUSINESS TRANSACTIONS ON THE BASIC ACCOUNTING EQUATION.8．Understand what the four financial statements are and how they are prepared.学习目标学完本章之后，学生应该能够达到以下目标：1．解释什么是会计。

会计学原理(英文)

会计学原理(英文)

《会计学原理（英文）》教学大纲王燕祥编写工商管理专业课程教学大纲610 目录Chapter 1 Accounting in Action 第一章会计实践活动 (613)学习目标 (613)Teaching and homework hours 教学与作业时间 (613)Reading and References 学生必读和参考书目 (613)Chapter 2 The Recording Process 第二章记录过程 (615)学习目标 (615)Teaching and homework hours 教学与作业时间 (615)Reading and References 学生必读和参考书目 (615)Chapter 3 Adjusting the Accounts 第三章调整账户 (617)学习目标 (617)Teaching and homework hours 教学与作业时间 (617)Reading and References 学生必读和参考书目 (617)Chapter 4 Completion of the Accounting Cycle 第四章完成会计循环 (619)学习目标 (619)Teaching and homework hours 教学与作业时间 (619)Reading and References 学生必读和参考书目 (619)Chapter 5 Accounting for Merchandising Operations 第五章商品经营活动的会计核算 (621)学习目标 (621)Teaching and homework hours 教学与作业时间 (621)Reading and References 学生必读和参考书目 (621)Chapter 6 Inventories 第六章存货 (623)学习目标 (623)Teaching and homework hours 教学与作业时间 (624)Reading and References 学生必读和参考书目 (624)Chapter 7 Accounting Information Systems 第七章会计信息系统 (626)学习目标 (626)Teaching and homework hours 教学与作业时间 (626)Reading and References 学生必读和参考书目 (626)Chapter 8 Internal Control and Cash 第八章内部控制和现金 (628)学习目标 (628)Teaching and homework hours 教学与作业时间 (628)Reading and References 学生必读和参考书目 (628)Chapter 9 Accounting for Receivables 第九章应收款项的会计核算 (630)学习目标 (630)Teaching and homework hours 教学与作业时间 (630)Reading and References 学生必读和参考书目 (630)Chapter 10 Plant Assets, Natural Resources, and Intangible Assets 第十章厂场资产、自然资源和无形资产 (632)会计学原理（英文）学习目标 (632)Teaching and homework hours 教学与作业时间 (632)Reading and References 学生必读和参考书目 (633)Chapter 11 Current Liabilities and Payroll Accounting 第十一章流动负债和工资的核算 (634)学习目标 (634)Teaching and homework hours 教学与作业时间 (634)Reading and References 学生必读和参考书目 (634)Chapter 12 Accounting Principles 第十二章会计原则 (636)学习目标 (636)Teaching and homework hours 教学与作业时间 (636)Reading and References 学生必读和参考书目 (636)Chapter 13 Accounting for Partnerships 第十三章合伙企业的会计核算 (638)学习目标 (638)Teaching and homework hours 教学与作业时间 (638)Reading and References 学生必读和参考书目 (638)Chapter 14 Corporations: Organization and Capital Stock Transactions 第十四章公司：组织和股本交易 (640)学习目标 (640)Teaching and homework hours 教学与作业时间 (640)Reading and References 学生必读和参考书目 (640)Chapter 15 Corporations: Dividends, Retained Earnings, and Income Reporting 第十五章股利、保留盈余和收益报告 (642)学习目标 (642)Teaching and homework hours 教学与作业时间 (642)Reading and References 学生必读和参考书目 (642)Chapter 16 Long-Term Liabilities 第十六章长期负债 (644)学习目标 (644)Teaching and homework hours 教学与作业时间 (644)Reading and References 学生必读和参考书目 (644)Chapter 17 Investments 第十七章投资 (646)学习目标 (646)Teaching and homework hours 教学与作业时间 (646)Reading and References 学生必读和参考书目 (646)Chapter 18 The Statement of Cash Flows 第十八章现金流量表 (648)学习目标 (648)Teaching and homework hours 教学与作业时间 (648)Reading and References 学生必读和参考书目 (648)Chapter 19 Financial Statement Analysis 第十九章财务报表分析 (650)学习目标 (650)Teaching and homework hours 教学与作业时间 (650)Reading and References 学生必读和参考书目 (650)Chapter 20 Managerial Accounting 第二十章管理会计 (652)611工商管理专业课程教学大纲612 学习目标 (652)Teaching and homework hours 教学与作业时间 (652)Reading and References 学生必读和参考书目 (652)Chapter 21 Job Order Cost Accounting 第二十一章分批成本法 (654)学习目标 (654)Teaching and homework hours 教学与作业时间 (654)Reading and References 学生必读和参考书目 (654)Chapter 22 Process Cost Accounting 第二十二章分步成本法 (656)学习目标 (656)Teaching and homework hours 教学与作业时间 (656)Reading and References 学生必读和参考书目 (657)Chapter 23 Cost-V olume-Profit Relationships 第二十三章本量利分析 (658)学习目标 (658)Teaching and homework hours 教学与作业时间 (658)Reading and References 学生必读和参考书目 (659)Chapter 24 Budgetary Planning 第二十四章编制预算 (660)学习目标 (660)Teaching and homework hours 教学与作业时间 (660)Reading and References 学生必读和参考书目 (660)Chapter 25 Budgetary Control and Responsibility Accounting 第二十五章预算控制和责任会计 662 学习目标 (662)Teaching and homework hours 教学与作业时间 (662)Reading and References 学生必读和参考书目 (662)Chapter 26 Performance Evaluation through Standard Costs 第二十六章利用标准成本进行业绩评价 (664)学习目标 (664)Teaching and homework hours 教学与作业时间 (664)Reading and References 学生必读和参考书目 (664)Chapter 27 Incremental Analysis and Capital Budgeting 第二十七章增量分析和资本预算 (666)学习目标 (666)Teaching and homework hours 教学与作业时间 (667)Reading and References 学生必读和参考书目 (667)会计学原理（英文）Chapter 1 Accounting in Action第一章会计实践活动STUDY OBJECTIVESAfter studying this chapter you should be able to:1．Explain what accounting is.2．IDENTIFY THE USERS AND USES OF ACCOUNTING.3．UNDERSTAND WHY ETHICS IS A FUNDAMENTAL BUSINESS CONCEPT.4．EXPLAIN THE MEANING OF GENERALLY ACCEPTED ACCOUNTING PRINCIPLESAND THE COST PRINCIPLE.5．EXPLAIN THE MEANING OF THE MONETARY UNIT ASSUMPTION AND THE ECONOMIC ENTITY ASSUMPTION.6．STATE THE BASIC ACCOUNTING EQUATION AND EXPLAIN THE MEANING OF ASSETS, LIABILITIES, AND OWNER’S EQUITY.7．ANALYZE THE EFFECT OF BUSINESS TRANSACTIONS ON THE BASIC ACCOUNTING EQUATION.8．Understand what the four financial statements are and how they are prepared.学习目标学完本章之后，学生应该能够达到以下目标：1．解释什么是会计。

会计学原理英文课件 (3)

会计学原理英文课件 (3)
3-6
LO 1
Accrual- versus Cash-Basis Accounting
Accrual-Basis Accounting

Learning Objective 2
Explain the accrual basis of accounting.
Transactions recorded in the periods in
3-12
LO 2
ETHICS INSIGHT
Cooking the Books?
Why Accuracy Krispy Kreme (USA) Matters
Allegations of abuse of the revenue recognition principle have become all too common in recent years. For example, it was alleged that Krispy Kreme (USA) sometimes doubled the number of doughnuts shipped to wholesale customers at the end of a quarter to boost quarterly results. The customers shipped the unsold doughnuts back after the beginning of the next quarter for a refund. Conversely, Computer Associates International (USA) was accused of backdating sales—that is, reporting a sale in one period that did not actually occur until the next period in order to achieve the earlier period’s sales targets.

会计学原理PrinciplesofAccountingppt课件

会计学原理PrinciplesofAccountingppt课件
会计信息的使用者既有外部的使用者，又有内部的使用者。
24
1.3.2会计目标
（一） 企业信息的外部使用者 （1）投资者——最主要的使用人。企业盈利能力如何？是否值得投资。 （2）债权人。是否要贷款给这家公司？利息收取多少？该公司能否根据合
约还本付息？是否需要提供担保？ （3）税务部门。公司依法应缴多少税？是否依法纳税？来年的纳税前景如
赖程度如何？能否根据合约按时支付货款？ （7）客户。公司能否继续生存？产品定价是否合理？产品更新换代的打算
如何？ （8）中介机构
25
1.3.2会计目标
（二）会计信息的内部使用者 指企业内部各阶层的管理人员，包括公司董事会成员，公司经理、 公司计划、财务、供应、市场等方面的管理人员以及车间部门的负 责人等。 公司职工也属于内部使用者，他们需要考虑的问题是公司是否有 能力按劳付酬？公司的财务状况与获利能力是否足以保障就业？公 司是否在劳动保护方面花了必要或足够的钱？公司是否有能力不断 提高职工福利待遇？
27
1.4.2会计核算前提（会计假设）
是对会计领域中某些无法加以论证的事物，根据客观、正常的 情况作出的判断，是全部会计工作的基础，是组织会计核算工作的 前提。 一、会计主体
1.可反映代理理论中的受托责任 2.会计所服务的特定对象，空间范围 3.凡是实行独立核算的经济实体 4.与法人的区别
二、持续经营 1.时间无限性 2.可合理确定六要素的内容
某一历史阶段的会计发展状况、水平与进步，从始到终受到 这一历史阶段会计环境的推动和制约。
6
1.1.1会计环境变化对会计的影响
会计环境的构成要素
经济因素
政治法律因素 科学技术因素 文化教育因素
7
1.1.1会计环境变化对会计的影响

金融会计学原理英文课件 (5)

金融会计学原理英文课件 (5)

u
u
2-4
LO 1
Debits and Credits
If the sum of Debit entries are greater than the sum of Credit entries, the account will have a debit balance.
Account Name
2-8
LO 1
Debits and Credits
u
The purpose of earning revenues is to benefit the owner(s). The effect of debits and credits on revenue accounts is the same as their effect on Owner’s Capital. Expenses have the opposite effect: expenses decrease owner’s equity.
Illustration 2-13
GENERAL JOURNAL
Sept. 1 Cash Owner’s Capital Equipment Cash
2-18
15,000 15,000 7,000 7,000
LO 2
Steps in the Recording Process
SIMPLE AND COMPOUND ENTRIES
d. decrease assets and increase liabilities.
2-12
LO 1
Debits/Credits Rules
Question
Accounts that normally have debit balances are: a. assets, expenses, and revenues. b. assets, expenses, and equity. c. assets, liabilities, and owner’s drawing.

会计学原理英文课件 (5)


5- 30
P2
Merchandising Cost Flow in the Accounting Cycle
P3
Adjusting Entries for Merchandisers
A merchandiser using a perpetual inventory system is usually required to make an adjustment to update the Merchandise Inventory account to reflect any loss of merchandise, including theft and deterioration.
P1
Purchase Returns and Allowances
On November 15, Z-Mart (buyer) issues a $300 debit memorandum for an allowance from Trex for defective merchandise.
5- 17
5-
P2
Sales Discounts
Z-Mart completes a $1,000 credit sale with terms of 2/10, n/60.
The account was paid in full within the 60-day period.
The account was paid in full within the 10-day discount period.
5- 28
P2
Sales Returns and Allowances
Recall Z-Mart’s sale for $2,400 that had a cost of $1,600. Assume the customer returns part of the merchandise. The returned items sell for $800 and cost $600.

会计学原理英文ppt课件Chapter_05Accounting for Merchandising


Quantity sold Price per unit Total Less 30% discount Invoice price
1,000 $ 5.25
5,250 (1,575) $ 3,675
Slide 9
P1
Invoice
Main Source, Inc.
Invoice
614 Tech Avenue Nashville, TN 37651
McGraw-Hill/Irwin
Slide 7
P1 November 2, Z-Mart purchased $1,200 of merchandise inventory for cash.
Nov 2
Merchandise Inventory Cash
ACCOUNTING FOR MERCHANDISING OPERATIONS
Chapter 5
© 2009 The McGraw-Hill Companies, Inc.,
SERVICE COMPANIES
Service organizations sell time to earn revenue.
C3
PERPETUAL AND PERIODIC
INVENTORY SYSTEMS
➢ Perpetual systems
➢ continually update accounting records for merchandising transactions
➢ Periodic systems
➢ accounting records relating to merchandise transactions are updated only at the end of the accounting period

会计学英文版ppt课件

managers and other users of its financial statements.The
accounts within the chart of accounts are numbered for use
as references.
Balance Sheet Accounts
accounts.
Prepare an unadjusted trial
balance and explain how it can be used to discover errors.
Using Accounts to Record Transactions
As a result,accounting systems are designed to show the increases and decreases in each accounting equation element as a separate record.This record is
accounts.
Describe and illustrate
journalizing transaction using the double-entry
accounting system.
Describe and illustrate the journalizing and
posting of transactions to
Examples ——wages expense, rent expense, utilities expense, supplies expense, and miscellaneous expense.
A chart of accounts should meet the needs of a company’s

财务会计学原理英文课件 (5)

11
Ball and Brown study (2)
Ø Classify groups lGood news: reported earnings greater than predicted earnings Abnormal income>0 lBad news: reported earnings less than predicted earnings Abnormal income<0
ØCapital structure
l Other things equal, the lower the debt ratio, the higher ERC (Dhaliwal, Lee and Fargher, JAR, Full 1991)
22
Earnings Response Coefficients(3)
5
Methodology
Ø Calculate the expected return
lMarket mode: Beta
6
CAPM formula
Ø CAPM E(Rjt) = Rf + βj[E(RMt)-Rf] - βj is the beta - RMt is the market return
Chapter 5
The Information Perspective on Decision Usefulness
1
Outline of topic
Ø Theoretical analysis Ø Ball and Brown research (1968)-events study # Define events # Methodology of estimating expected returns # Define windows # Calculate the abnormal return (AR) # Issues on Beta # How to define good news and bad news Ø Branches after Ball and Brown Ø ERC
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Examples: Accounting firms, law firms and plumbing services
Revenues
Minus
Equals Expenses
Net income
McGraw-Hill/Irwin
Slide 2
C1
MERCHANDISING ACTIVITIES
Merchandising Companies
P.O. Date Salesperson 4/25/2009 #25
Terms 2/10,n/30
Freight FOB Destination
ViaSFheipdExGoods
Item AC417
Description 250 Backup System
Total invoice Quanity Price
Purchase merchandise for cash
Dr. 1,200
Cr. 1,200
McGraw-Hill/Irwin
Slide 8
P1
TRADE DISCOUNTS
Used by manufacturers and wholesalers to offer better prices for greater quantities purchased.
Manufacturer
Wholesaler
Retailer
Customer
McGraw-Hill/Irwin
Slide 3
C1
REPORTING INCOME FOR A
MERCHANDISER
Merchandising companies sell products to earn revenue.
ACCOUNTING FOR MERCHANDISING OPERATIONS
Chapter 5
© 2009 The McGraw-Hill Companies, Inc., All Rights Reserved
SERVICE COMPANIES
Service organizations sell time to earn revenue.
PURCHASE DISCOUNTS
2/10,n/30
Discount Percent
McGraw-Hill/Irwin
Number of Days
Discount Is Available
Otherwise, Net (or All) Is Due in 30
Days
Credit Period
Slide 12
After we post these entries, the accounts involved look like this:
Merchandise Inventory
11/2 1,200 11/12 24 Bal. 1,176
Accounts Payable
11/12 1,200 11/2 1,200
Credit Terms
Discount Period
Credit Period
Time
Amount Due
Due: Invoice price minus
discount
Date of
Invoice
Due: Full Invoice Price
McGraw-Hill/Irwin
Slide 11
P1
For Year Ended December 31, 2009
Net sales Cost of goods sold Gross profit Operating expenses Net income
$ 150,000 80,000
$ 70,000 46,500
$ 23,500
McGraw-Hill/Irwin
Example
Z-Mart offers a 30% trade discount on orders of 1,000 units or more of their popular
product Racer. Each Racer has a list price of $5.25.
McGraw-Hill/Irwin
Examples: sporting goods, clothing, and auto parts stores
Net Sales
Minus
Cost of Equals
Goods Sold
Gross Profit
Minus
Expenses
Equals Net
Income
Merchandising Company Income Statement
Amount
500 $ 54.00 $
27,000
We appreciate your business! McGraw-Hill/Irwin
Sub Total
Ship Chg.
Tax
Total
$
27,000
-
-
27,000
Slide 10
P1
PURCHASE DISCOUNTS
A deduction from the invoice price granted to induce early payment of the amount due.
Quantity sold Price per unit Total Less 30% discount Invoice price
1,000 $ 5.25
5,250 (1,575) $ 3,675
Slide 9
P1
Invoice
Main Source, Inc.
Invoice
614 Tech Avenue Nashville, TN 37651
P1
PURCHASE DISCOUNTS
On November 2nd, Z-Mart purchased $1,200 of merchandise inventory on account, credit
terms are 2/10, n/30.
Merchandise Inventory Accounts Payable
Dr.
Accounts Payable
900
Cash
Merchandise Inventory
Paid accounts payable in full
McGraw-Hill/Irwin
Purchase
$
Returns
Amount Due
Discount
Cash Paid
$
Cr.
882 18
1,200 (300) 900 (18) 882
Ownership transfers to buyer when goods
are passed to
Slide 4
C2
OPERATING CYCLE FOR A
MERCHANDISER
Begins with the purchase of merchandise and ends with the collection of cash from the
sale of merchandise.
Cash Sale
Bal. 0
McGraw-Hill/Irwin
Slide 15
P1
PURCHASE RETURNS AND
ALLOWANCES
Purchase Return . . .
Merchandise returned by the purchaser to the supplier.
Purchase Allowance . . .
Merchandise Inventory Accounts Payable
Purchase merchandise on account
Dr. 1,200
Cr. 1,200
McGraw-Hill/Irwin
Slide 17
P1
PURCHASE RETURNS AND
ALLOWANCES
On November 5th , Z-Mart returned $300 of defective merchandise to the supplier.
S o l d
T
o
Date
5/4/09
Number 358-BI
Name: Barbee, Inc.
Attn: Tom Bell
Address: One Willow Plaza
Cookeville, Tennessee
38501
Seller Invoice date Purchaser Order date Credit terms Freight terms
C3
INVENTORY SYSTEMS
Beginning inventory
+
Net cost of purchases
= Merchandise available for sale
Ending inventory
McGraw-Hill/Irwin
+
Cost of goods sold
Slide 6
Purchase merchandise on account
Dr. 1,200
Cr. 1,200
McGraw-Hill/Irwin
Slide 13
P1
PURCHASE DISCOUNTS
On November 12th, Z-Mart paid the amount due on the purchase of November 2nd .