财务英语会计分录
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筹建阶段
Get investment
Proprietorship and Partnership
Dr Cash
Cr XXX’s capital
Company
Dr Cash
Cr Common stock/Preferred stock (face value)
Additional paid-in capital
Buy office furniture/equipment/office supplies
Dr Furniture/Supplies/Equipment
Cr cash
For merchandise business, purchase merchandise
Dr Purchases
Cr Cash
For manufacturing business, purchase material
Dr Material inventory
Cr Cash
运营阶段
主要活动
For service business, provide service
Dr Cash
Cr Fees earned/Fees income
For merchandise business, send merchandise to customer Dr Cash
Cr Sales/Sales revenue
Dr Cost of goods sold
Cr Inventory
For manufacturing business, from production to selling
Dr Work in process inventory
Cr Material inventory
Dr Work in process inventory
Cr Wages payable
Dr Work in process inventory
Cr Overhead cost
Dr Finished goods inventory
Cr Work in process inventory
Dr Cash
Cr Sales/Sales revenue
Dr Cost of goods sold
Cr Finished goods inventory
日常活动
一、Receivables
1. Sales
Sales on account/credit; receive from the client a promise of pay service/merchandise/product
Dr Accounts receivable
Cr fees income/sales revenue
Customer issue a note to replace the debt
Dr Notes receivable
Cr Accounts receivable
2. Account for bad debts
Accountant recognize that there is XXX accounts receivable cannot be collected(direct write off ) Dr Bad debt expense
Cr Accounts receivable
Accountant estimate x% of accounts receivable cannot be collected every period(allowance method)
Dr Bad debt expense
Cr Allowance for bad debt
As the actual loss of XXX is recognized
Dr Allowance for bad debt
Cr Accounts receivable
3. On the maturity date of notes
Dr Cash
Cr Notes receivable
Interest income
二、Fixed assets
1. Accounting for depreciation(straight-line method, unit of production)
Dr Depreciation expense
Cr Accumulated depreciation
2. Accounting for repairs
Ordinary expenditure
Dr Repairs and Maintenance expense
Cr Cash
Capital expenditure
Dr XXX(asset title)
Cr Cash
3. Accounting for impairment
Dr Impairment loss
Dr Accumulated impairment loss
4. Sale of used fixed asset
Book value= Original cost-accumulated depreciation-accumulated impairment loss Selling price﹤book value, loss
Dr Cash
Accumulated depreciation
Accumulated impairment loss
Loss on sale of XXXX
Cr XXX
Selling price﹥book value, gain
Dr Cash
Accumulated depreciation
Accumulated impairment loss
Cr XXX
Gain on sale of XXX
三、Intangible asset
Amortization
Dr Amortization expense
Cr XXX (asset title)
四、Bonds payable
1. Issue bond
On face value
Dr Cash
Cr bonds payable
At a discount
Dr Cash
Discount on bond
Cr bonds payable
At a premium
Dr Cash
Cr bonds payable
Premium on bond
2. Account for interest
On face value
Dr Bond interest expense
Cr Cash/interest payable
At a discount
Dr Bond interest expense
Cr cash
Discount on bond
At a premium
Dr Bond interest expense
Premium on bond
Cr Cash
五、Equity ,disburse income
1. Proprietorship and partnership
Dr Income summary
Cr XXX’s capital
2. Company
Dr Income summary
Cr retained earnings
Dr Dividends, Common stock/preferred stock Cr cash/dividend payable
六、Other expense and payable
Dr Advertising expense
Cr Advertising payable
Dr Wages expense
Cr Wages payable
Dr Utilities expense
Cr Utilities payable
Dr Income tax expense
Cr Income tax payable
七、Prepaid expense
Dr Prepaid insurance/rent
Cr Cash
Dr Insurance expense/rent expense
Cr Prepaid insurance/rent。
