Accounting 2010

Accounting

NTUQF 2010.09.13

基本概念 Accounting 2010

Generally accepted accounting principles (GAAP) The basic accounting equation and assets, liabilities, and stockholder’s equity Analyze the effects of business transactions on the accounting equation Financial statement

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What is Accounting? Accounting 2010

Accounting 是辨認,紀錄某組織(營利,非營利)所 發生的經濟事項,進而將結果溝通給使用者的過程, 以幫助使用者(interested users)做審慎的判斷與 決策.  Identifying(辨認): 認出某經濟個體所進行的經濟活動  Recording(紀錄): 將已認定事項,使用貨幣加以衡量,並 有系統按序加以記載!  Communicating(溝通): 將紀錄的內容, 透過編製與揭露 會計報表來告知使用人 (如:財務報表, Financial statement,簡稱F/S).  **會計人員在編製F/S時,常已事先加以彙總 (summary),分析 (analysis),與解說(interpretation). 2010/09/13

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Who Uses Accounting Data? Accounting 2010

 會計在提供有用資訊給使用者作決策, 故稱為language of business  根據決策類型分為  

Internal users: 企業內部掌理規劃,組織與營運的階層管理人員. => managerial accounting External users: 企業個體以外使用會計資訊的人,包括:  財務利益者  Investor: 買,賣,或繼續持有股票  Creditor: 如供應商或銀行評估授信或放款風險

 間接財務利益者  Taxing authorities (e.g., Internal Revenue Service, IRS)  Regulatory agencies (e.g., Security exchange commission, SEC)  Customer, labor unions

=> Financial accounting => Basic, intermediate, and advanced accounting 2010/09/13

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Generally Accepted Accounting Principles Accounting 2010

一般公認會計原則 (GAAP)  成本原則(Cost principles)  收益實現原則(Revenue realization principles)  配合原則(Matching principles)  充分揭露原則(Full disclosure principles)

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Assumptions Accounting 2010

Assumptions (公設Postulate,慣例Convention)  企業個體慣例 (Separate entity)  繼續經營慣例 (Going-concern)  貨幣評價假設 (Monetary unit )  會計期間假設 (Time Period )

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經濟個體假設(Economic Entity) Accounting 2010

Entity: Any organization or unit in society (e.g., 台積電, 慈濟)  意義: Activities of the entity should be separated from the activities of its owner  用途: (1) 業主與企業之間的交易,應設業主往來(drawing)科 目入帳. (e.g., 張忠謨 vs.台積電) (2)企業盈虧應獨立計算,不與業主混淆!

Entity: focus on business enterprises  (1) Proprietorship, (2) Partnership, (3) Corporation 2010/09/13

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獨資(Proprietorship) Accounting 2010

意義: Owned by one person => ex. retail stores

特性:  非法律個體 (Legal entity ), 業主與企業視為一體 =>The person liable for all debts of the business =>Small amount of capital; owner receives all the risks (profit or loss);  為會計個體 (Accounting entity)(如這家商店淨賺**)  Affairs of proprietorship should be separated from the personal activities of the owners.

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合夥 (Partnership) Accounting 2010

意義  Owned by two or more persons; 二人以上互約出資,以 經營共同事業,並分攤損益之營利事業組織(如會計師, 律師事務所)

特性  非法律個體(Legal entity) 業主對企業或是其他合夥人之債務付連帶無限清償 責任;  為會計個體(Accounting entity) Affairs of partnership should be separated from the activities of the partners! 2010/09/13

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公司 (Corporation) Accounting 2010

 意義  Organized as a separate legal entity under state corporation law and having ownership divided into transferable shares of stock. (ps. 我國以營利為目的,依照公司法組織,登記,成立之社團法人)

 特性     

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Legal entity (法人, 法律個體): 享有權利與承擔債務的能力 Limited liability: 以出資(股東所認股份)為限 Unlimited life Shares are transferable Other: 募集資金容易;所有權與經營權分離;政府管理嚴格

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Forms of Business Ownership Accounting 2010

Proprietorship

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Partnership

Corporation

Generally owned by one person.

Owned by two or more persons.

Often small service-type businesses

Often retail and service-type businesses

Ownership divided into shares of stock

Owner receives any profits, suffers any losses, and is personally liable for all debts.

Generally unlimited personal liability

Separate legal entity organized under state corporation law Limited liability

Partnership agreement NTHUQF

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The Basic Accounting Equation Accounting 2010

Assets

=

Liabilities

+

Owners’ Equity (OE)

Provides the underlying framework for recording and summarizing economic events. Assets are claimed by either creditors or owners. Claims of creditors must be paid before ownership claims.

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The Basic Accounting Equation Accounting 2010

Assets

=

Liabilities

+

Owners’ Equity (OE)

Assets Resources a business owns. Provide future services or benefits=>lead to cash inflow

Cash, Supplies, Equipment, truck, etc.

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The Basic Accounting Equation Accounting 2010

Assets

=

Liabilities

+

Owners’ Equity (OE)

Liabilities Creditors - party to whom money is owed. Claims against assets: debts and obligations. Accounts payable, Notes payable, etc.

債權人為對企業總資產具有請求權,而非對特定 (specific)資產! 2010/09/13

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The Basic Accounting Equation Accounting 2010

Assets

=

Liabilities

+

Owners’ Equity (OE)

Owners’ Equity Ownership claim on total assets.

Referred to as residual equity. Capital, Drawings, etc. (Proprietorship or Partnership). Subdivisions of Owner’s Equity:

1. Capital or Investments by Owner (+) 2. Drawing (-)=> withdrawal 3. Revenues (+) 2010/09/13

4. Expenses (-)

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Owners’ Equity  業主權益增加(Increase in owner’s equity)

Accounting 2010

 會因為業主投資(investment by owner)或收入(revenue)而增加  Investment by owner: 業主將個人的資本投資於企業  Revenues: (a) The gross increases in OE that result from operating the business (因獲利活動而導致權益增加) (e.g., sale, service, rental of property, rent) (b) Revenues =>an increase in an asset.

 業主權益減少(Decrease in owner’s equity)  會因為業主提取(Drawing)或費用(Expense)而減少:  Drawing: 業主從企業領取現金或其他資產供私人使用  Expense: (a) 經營企業而使業主權益減少的部分(付出或耗用的資產或勞務 e.g., cost of ingredients, wage, utility expense, interest expense, …) (b) Revenues > (< ) Expenses => Net income (Net loss) 2010/09/13

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Using The Basic Accounting Equation Accounting 2010

交易(Transactions)  會計上所紀錄之企業發生的economic events.

分類  外部交易(External transactions): 企業與其他外部企業 或個體之間所發生的交易.銷貨,進貨  內部交易(Internal transactions): 企業內部所發生的交 易.原料加工為完成品

影響  任一交易至少影響會計方程式中的三大項目之一 2010/09/13

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Transactions Accounting 2010

Problem: Barone’s Repair Shop was started on May 1 by Nancy. Prepare a tabular analysis of the following transactions for the month of May.

1. Invested $10,000 cash to start the repair shop. Liabilities

Assets

Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000

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Equity

+10,000

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Investment

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Transactions 2. Purchased equipment for $5,000 cash. Accounting 2010 Liabilities

Assets

Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000 2. -5,000

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Equity

+10,000

Investment

+5,000

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Transactions 3. Paid $400 cash for May office rent. Liabilities

Assets

Cash

3.

+10,000

Investment

+5,000

-400

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Equity

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000 2. -5,000

Accounting 2010

-400

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Expense

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Transactions Accounting 2010

4. Received $5,100 from customers for repair service. Liabilities

Assets Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000 2. -5,000

3. 4.

+10,000

Investment

+5,000

-400 +5,100

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Equity

-400 +5,100

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Expense Revenue

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Transactions Accounting 2010

5. Withdrew $1,000 cash for personal use. Liabilities

Assets Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000 2. -5,000

Equity

+10,000

Investment

+5,000

3. 4.

-400 +5,100

-400 +5,100

Expense Revenue

5.

-1,000

-1,000

Drawings

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Transactions Accounting 2010

6. Paid part-time employee salaries of $2,000. Liabilities

Assets Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000 2. -5,000

3. 4.

Equity

+10,000

Investment

+5,000

-400 +5,100

-400 +5,100

Expense Revenue

5. -1,000 6. -2,000

-1,000 -2,000

Drawings Expense

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Transactions Accounting 2010

7. Incurred $250 of advertising costs, on account. Liabilities

Assets Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000 2. -5,000

3. 4.

Equity

+10,000

Investment

+5,000

-400 +5,100

-400 +5,100

Expense Revenue

5. -1,000 6. -2,000

-1,000 -2,000

Drawings Expense

7.

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+250

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-250

Expense

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Transactions Accounting 2010

8. Provided $750 of repair services on account. Liabilities

Assets Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000

+10,000

2. -5,000 3. 4.

Equity

Investment

+5,000

-400 +5,100

-400 +5,100

Expense Revenue

5. -1,000 6. -2,000

-1,000 -2,000

Drawings Expense

7. 8.

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+250 +750

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-250 +750

Expense Revenue

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Transactions Accounting 2010

9. Collected $120 cash for services previously billed. Liabilities

Assets

Cash

Accounts Accounts Barone, + Receivable + Equipment = Payable + Capital

1. +10,000

+10,000

2. -5,000

3. 4.

Equity

Investment

+5,000

-400 +5,100

-400 +5,100

Expense Revenue

5. -1,000 6. -2,000

-1,000 -2,000

Drawings Expense

7. 8. 9.

+250 +750 +120 6,820 +

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-120 630 +

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250 +

-250 +750

Expense Revenue

12,200 26

Financial Statements Accounting 2010

認定, 紀錄與彙總會計資訊後,需編製四大財務報 表  損益表(Income statement): 表達企業於特定期間的收 入愈費用,以及最終淨利或淨損的報表.  保留盈餘表(Retained earnings statement ) or 業主權 益變動表(Owner’s equity statement): 表達企於特定期 間內,保留盈餘(業主權益)變動過程的報表.  資產負債表(Balance sheet): 報導某企業在特定日的 assets, liabilities, and stockholders’ equity的報表.  現金流量表(Statement of cash flows):表達企業於特定 期間的現金流入與流出的報表

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Financial Statements Accounting 2010

Income Statement Barone’s Repair Shop Income Statement For the Month Ended May 31, 2007 Revenues: Service revenue Expenses: Salary expense Rent expense Advertising expense Total expenses Net income

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$

5,850

$

2,000 400 250 2,650 3,200

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Reports the revenues and expenses for a specific period of time. Net income : revenues exceed expenses. Net loss : expenses exceed revenues.

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Financial Statements Accounting 2010

Income Statement

Owners’ Equity Statement

Barone’s Repair Shop

Barone’s Repair Shop

Income Statement

Owners' Equity Statement

For the Month Ended May 31, 2007

For the Month Ended May 31, 2007

Revenues: Service revenue Expenses: Salary expense Rent expense Advertising expense Total expenses Net income

$

5,850

$

2,000 400 250 2,650 3,200

Barone's, Capital May 1 Add: Investment Net income Less: Drawings Barone's, Capital May 31

$

$

10,000 3,200 13,200 1,000 12,200

Net income is needed to determine the ending balance in owner’s equity. 2010/09/13

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Financial Statements Accounting 2010

Owners’ Equity Statement 目的: 指出某期間Owner’s equity 增減的原因

Barone’s Repair Shop Owners' Equity Statement For the Month Ended May 31, 2007 Barone's, Capital May 1 Add: Investment Net income Less: Drawings Barone's, Capital May 31

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$

$

10,000 3,200 13,200 1,000 12,200

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Financial Statements Accounting 2010

Owners’ Equity Statement

Balance Sheet Barone’s Repair Shop

Barone’s Repair Shop

Balance Sheet

Owners' Equity Statement

May 31, 2007 Assets Cash Accounts receivable Equipment Total assets Liabilities Accounts payable Owners' Equity Barone's, capital Total liab. & equity

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$

$ $

For the Month Ended May 31, 2007 6,820 630 5,000 12,450

Barone's, Capital May 1 Add: Investment Net income Less: Drawings Barone's, Capital May 31

250

12,200 $ 12,450

$

10,000 3,200 13,200 1,000 $ 12,200

The ending balance in owner’s equity is needed in preparing the balance sheet NTHUQF

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Financial Statements Accounting 2010

Balance Sheet

目的:報導某特定日assets, liabilities, and owner’s equity.

Barone’s Repair Shop Balance Sheet May 31, 2007 Assets Cash Accounts receivable Equipment Total assets Liabilities Accounts payable Owners' Equity Barone's, capital Total liab. & equity

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$

$

6,820 630 5,000 12,450

$

250

$

12,200 12,450

順序: Assets listed at the top, followed by liabilities and owner’s equity. Total assets = Total liabilities + Owner’s equity. NTHUQF

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Financial Statements Accounting 2010

Balance Sheet

Statement of Cash Flows Barone’s Repair Shop Statement of Cash Flows

Barone’s Repair Shop

For the Month Ended May 31, 2007

Balance Sheet

Cash flow from Operations Cash receipts from customers Cash paid for expenses Cash provided by operations Cash flow from Investing Purchase of equipment Cash flow from Financing Investment by owners Drawings by owners Cash provided by financing Net increase in cash

May 31, 2007 Assets Cash Accounts receivable Equipment Total assets Liabilities Accounts payable Owners' Equity Barone's, capital Total liab. & equity

$

$

6,820 630 5,000 12,450

$

250

$

12,200 12,450

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5,220 (2,400) 2,820 (5,000) 10,000 (1,000) 9,000 6,820

Cash balance, May 1 Cash balance, May 31

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$

$

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Financial Statements Accounting 2010

Information for a specific period of time.

Statement of Cash Flows

Answers the following: 1. Where did cash come

from?

2. What was cash used

for?

3. What was the change

in the cash balance?

Barone’s Repair Shop Statement of Cash Flows For the Month Ended May 31, 2007 Cash flow from Operations Cash receipts from customers Cash paid for expenses Cash provided by operations Cash flow from Investing Purchase of equipment Cash flow from Financing Investment by owners Drawings by owners Cash provided by financing Net increase in cash

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5,220 (2,400) 2,820 (5,000) 10,000 (1,000) 9,000 6,820

Cash balance, May 1 Cash balance, May 31

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$

$

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Financial Statements Review Question:

Accounting 2010

Which of the following financial statements is prepared as of a specific date? a. Balance sheet. b. Income statement. c. Owner's equity statement. d. Statement of cash flows.

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會計循環 Accounting 2010

    

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Define debits and credits Use in recording business transactions Journalizing the accounts Adjusting the accounts Closing the accounts

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The Account (帳戶、會計科目) Accounting 2010

會計上用來記錄各項資產、負債、業主權益、收 入及費損等會計要素增減的工具.  如 cash, salaries expense, accounts payable等各項目 , 都有自己專屬的account.  借方、貸方只是表示左右, 帳戶的左方稱「借方」 (Debit side), 右方稱「貸方」(Credit side).  Account的格式如同英文字母的「T」或中文的「丁」, 因此又稱T字帳或丁字帳.

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T Account Accounting 2010

An account consists of  The title of the account  借方 (Debit side) ＝＞左方=>簡寫為Dr.  貸方 (Credit side)＝＞右方=>簡寫為Cr. (約定成俗)  The alignment of these parts resembles the letter T = T account Title of Account Left or debit side Debit balance 2010/09/13

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Right or credit side Credit balance 38

Debiting an Account Accounting 2010

Example: The owner makes an initial investment of $15,000 to start the business. => Cash is debited as the owner’s Capital is credited.

Cash Debits

Credits

15,000

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Crediting an Account Accounting 2010

Example: Monthly rent of $7,000 is paid. => Cash is credited as Rent Expense is debited.

Cash Debits

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Credits 7,000

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Debiting and Crediting an Account Accounting 2010

Example: Cash is debited for $15,000 and credited for $7,000, leaving a debit balance of $8,000.

Cash

Debits 15,000 8,000

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Credits 7,000

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Double-entry System (複式簿記) Accounting 2010

左借右貸, 有借就有貸 (A = L + OE) Total debits always equal the total credits. The accounting equation will always stay in balance.

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Normal Balances – Assets and Liabilites Accounting 2010

Assets

Liabilities

Increase

Decrease

Decrease

Increase

Debit

Credit

Debit

Credit

Normal Balance

Normal Balance

每一帳戶都有正常餘額(Normal balance),可能為右,也可能為左. 正常餘額在右(左)者,不應出現借(貸)餘.

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Normal Balances – Owner’s Capital Accounting 2010

Owner’s Capital Decrease Debit

Increase Credit Normal Balance

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Normal Balances – Owner’s Drawing Accounting 2010

Owner’s Drawing Debits

Credits

Increase owner’s drawing

Decrease owner’s drawing

Normal Balance

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Normal Balances – Revenues and Expenses Accounting 2010

Revenues Decrease Debit

Expenses

Increase Credit

Normal Balance

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Increase Debit

Decrease Credit

Normal Balance

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Accounting 2010

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會計循環(Accounting cycle) Accounting 2010

會計工作週而復始，每期都是從分錄開始，到編 製報表為止。  「分錄」 (Journalizing)  「過帳」 (Posting)  「試算」 (Taking trial balance)  「調整」 (Adjusting)  「結帳」 (Closing)  「編表」 (Preparing financial statements)

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會計循環(Accounting cycle) Accounting 2010

 分錄(Journalizing)  每筆交易發生時, 須根據原始憑證, 區分借記、或貸記科目, 並衡量 交易金額, 記入帳簿, 這項工作稱為「分錄」, 而用來記載交易的帳 簿，稱為「分錄簿」, 或「日記簿(Journal) 」

 過帳(Posting)  交易記入分錄簿後，再把每一科目分類集中, 記入分類帳中，稱為 「過帳」, 供過帳使用的帳簿, 稱為「分類帳(Ledger)」

 試算(Taking trial balance)  驗證分錄及過帳的工作是否正確的工作, 稱為「試算」. 而試算時 將各個帳戶彙總製成的表, 稱為「試算表 (Trial balance)

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會計循環(Accounting cycle) Accounting 2010

 調整(Adjusting)  會計上某些帳項, 會隨著時間經過而變化, 為使每個科目能正確表 示編表時的實際情況, 應該定期整理、修正, 這項工作稱「調整」

 結帳(Closing)  會計期間終了時, 將收益及費損帳戶清結, 計算盈虧. 並明確列示各 項資產、負債、及業主權益帳戶的餘額, 結轉下期連續記載. 這項 工作, 稱為「結帳」.

 編表(Preparing financial statements)  會計期間結束應將期間內所有交易彙總列表  根據收益及費損帳戶編製損益表  根據資產、負債、及業主權益帳戶編製資產負債表  根據有關帳戶變動的情形編製現金流量表、及業主權益變動表 或保留盈餘表。 2010/09/13

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Journalizing (分錄) Accounting 2010

 寫分錄(Journalizing)  將各交易對會計要素的影響,根據借貸法則,按序記入日記簿內的紀 錄.

 每一交易都要寫分錄, 所寫的內容稱為分錄(Journal entries).  日記簿=分錄簿=流水帳=原始記錄簿(Original record)=序 時帳簿(Chronological record)  A complete entry consists of:  交易發生的日期(the date of the transaction)  借記與貸記之科目名稱與金額(the accounts and amounts to be debited and credited)  每一交易的摘要與說明(a brief explanation of the transaction).

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Technique of Journalizing Accounting 2010

The date of the transaction is entered into the date column.

J1

GENERAL JOURNAL Date 2005 Sept. 1

1

2010/09/13

Account Titles and Explanation Cash R. Neal, Capital (Invested cash in business) Computer Equipment Cash (Purchased equipment for cash)

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Ref.

Debit

Credit

15,000 15,000

7,000 7,000

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Technique of Journalizing Accounting 2010

 The debit account title is entered at the extreme left margin of the Account Titles and Explanation column.  The credit account title is indented on the next line.

J1

GENERAL JOURNAL Date 2005 Sept. 1

1

2010/09/13

Account Titles and Explanation Cash R. Neal, Capital (Invested cash in business) Computer Equipment Cash (Purchased equipment for cash) NTHUQF

Ref.

Debit

Credit

15,000 15,000

7,000 7,000

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Technique of Journalizing Accounting 2010

A brief explanation of the transaction is given.

J1

GENERAL JOURNAL Date 2005 Sept. 1

Account Titles and Explanation Cash R. Neal, Capital (Invested cash in business)

1 Computer Equipment Cash (Purchased equipment for cash)

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Ref.

Debit

Credit

15,000 15,000

7,000 7,000

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Technique of Journalizing Accounting 2010

類頁欄位(Ref.)是空白的,直到要過入分類帳時,才填入所過入的 分類帳的頁碼 J1

GENERAL JOURNAL Date 2005 Sept. 1

Account Titles and Explanation Cash R. Neal, Capital (Invested cash in business)

1 Computer Equipment Cash (Purchased equipment for cash)

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Ref.

Debit

Credit

15,000 15,000

7,000 7,000

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過帳 (Posting) Accounting 2010

 意義  將日記帳(Journal)之分錄(entry)內容,轉記至相同帳戶名稱之分類 帳(Ledger)的程序.  分類帳是按各科目分類整理, 再分別列示.  分類帳屬於會計「橫的」記錄, 與日記簿按時間的先後, 而為「縱 的」記錄有別.

 步驟  日記簿中之借記科目, 金額, 日期, 頁次, 轉記入分類帳相對應部分, 並在日記簿類頁欄中, 記入所過分類帳科目之編號.  日記簿中之貸記科目, 金額, 日期, 頁次, 轉記入分類帳相對應部分, 並在日記簿類頁欄中, 記入所過分類帳科目之編號.

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分類帳 (The Ledger) Accounting 2010

 意義  由企業所有會計科目或帳戶所組成的帳冊.

 目的  在使日記簿內各項分錄所記載的同一科目,得以彙總核計.

 分類  總分類帳(General ledger): 以每一會計科目為分類基準, 所設置之 整體性帳簿;總分類帳應包括企業所有應用之科目. (e.g., 應收帳款)  明細分類帳(Subsidiary ledger): 每一總分帳的會計科目,再按細目 分設之分類帳,以為輔助之用. (e.g., 應收帳款-甲, 應收帳款-乙, 應 收帳款-丙)

 總分類帳餘額=各明細帳餘額之加總

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總分類帳與明細分類帳 Accounting 2010

Assets

Equipment Land Supplies Cash

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Liabilities

Interest Payable Salaries Payable Accounts Payable Notes Payable

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Owners’ Equity

Salaries Expense Service Revenue Common Stock Retained Earnings

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Example: 會計科目表(Chart of Accounts) Accounting 2010

會計科目表為所有會計科目與其編號的表格.

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Posting Accounting 2010

The process of transferring amounts from the journal to the ledger accounts. General Journal Date Oct. 1

Account Title Cash

J1

Ref.

Debit

101

15,000

Hanshew, Capital

Credit 15,000

(Owner's investment in business)

General Ledger Cash Date

Explanation

Oct. 1 Owner investment

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Ref.

J1

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Debit

15,000

Acct. No. 101 Credit

Balance

15,000

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Example: Investment of Cash by Stockholders Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis

2010/09/13

October 1, C. R. Byrd 投資 $10,000 現金成立Pioneer Advertising Agency Inc., 提供廣告服務

The asset Cash is increased $10,000, and stockholders’ equity is increased $10,000.

Debits increase assets: debit Cash $10,000. Credits increase stockholders’ equity: credit Byrd, Capital $10,000.

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Investment of Cash by Stockholders Accounting 2010

JOURNAL ENTRY Date Oct. 1

Account Titles and Explanation Cash Byrd, Capital (Owner’s investment of cash in business )

Ref. 101 301

Debit 10,000

Credit 10,000

POSTING

Oct.

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1

Cash 10,000

101

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Byrd, Capital Oct. 1

301 10,000

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Purchase of Office Equipment Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis

2010/09/13

October 1, 購買Office Equipment $5,000 ,簽發3個月期 ,利率12%, $5,000的應付票據( note payable)

The asset Office Equipment is increased $5,000, and the liability Notes Payable is increased $5,000.

Debits increase assets: debit Office Equipment $5,000. Credits increase liabilities: credit Notes Payable $5,000.

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Purchase of Office Equipment Accounting 2010

JOURNAL ENTRY Date Oct. 1

Account Titles and Explanation Office Equipment Notes Payable (Issued 3-month, 12% note for office equipment)

Ref. 157 200

Debit Credit 5,000 5,000

POSTING

Oct.

2010/09/13

Office Equipment 1 5,000

157

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Notes Payable Oct. 1

200 5,000

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Receipt of Cash for Future Service Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis 2010/09/13

October 2, 自客戶R. Knox,預收現金 $1,200 , 所提供的 廣告預期要到12/31完成.

The asset Cash is increased $1,200; the liability Unearned Fees is increased $1,200 because the service has not been rendered yet. Note that although many liabilities have the word “payable” in their title, Unearned Fees are considered a liability even though the word payable is not used.

Debits increase assets: debit Cash $1,200. Credits increase liabilities: credit Unearned Fees $1,200. NTHUQF

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Receipt of Cash for Future Service Accounting 2010

JOURNAL ENTRY Date Oct. 2

Account Titles and Explanation Cash Unearned Revenues (Received advance from R. Knox for future services)

Ref. 101 209

Debit Credit 1,200 1,200

POSTING

Oct. 1 2

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Cash 10,000 1,200

101

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Unearned Renvenues 209 Oct. 2 1,200

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Payment of Monthly Rent Accounting 2010

Transaction

Basic Analysis

Debit-Credit Analysis

2010/09/13

October 3, office rent for October is paid in cash, $900.

The expense Rent is increased $900 because the payment pertains only to the current month; The asset Cash is decreased $900.

Debits increase expenses: debit Rent Expense $900. Credits decrease assets: credit Cash $900.

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Payment of Monthly Rent Accounting 2010

JOURNAL ENTRY Date Oct. 3

Account Titles and Explanation Rent Expense Cash (Paid October rent)

Ref. 729 101

Debit 900

Credit 900

POSTING

Oct. 1 2

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Cash 10,000 Oct. 3 1,200

101 900

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Rent Expense Oct. 3 900

729

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Payment for Insurance Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis 2010/09/13

October 4, 支付一年期$600之保單(insurance policy), 有效期間至 September 30.

由於保險期間及於往後月份,因此資產: 預付保費 (Prepaid Insurance)增加 $600; the asset Cash is decreased $600. 凡支出之費用的效益期間大於 一期以上時,由於具有未來經濟效益,故應綽為資 產,借記預付費用(prepaid expenses) or預付款項 ( prepayments)等資產科目.

Debits increase assets: debit Prepaid Insurance $600. Credits decrease assets: credit Cash $600. NTHUQF

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Payment for Insurance Accounting 2010

JOURNAL ENTRY Date Oct. 4

Account Titles and Explanation Prepaid Insurance Cash (Paid one-year policy; effective date October 1)

Ref. 130 101

Debit Credit 600 600

POSTING

Oct. 1 2

2010/09/13

Cash 10,000 Oct. 3 1,200 4

101 900 600

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Prepaid Insurance Oct. 4 600

130

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Purchase of Supplies on Credit Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis

2010/09/13

October 5,向Aero Supply賒購3-month 的廣告用品$2,500

The asset Advertising Supplies is increased $2,500; The liability Accounts Payable is increased $2,500.

Debits increase assets: debit Advertising Supplies $2,500. Credits increase liabilities: credit Accounts Payable $2,500.

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Purchase of Supplies on Credit Accounting 2010

JOURNAL ENTRY Date Oct. 5

Account Titles and Explanation Advertising Supplies Accounts Payable (Purchased supplies on account from Aero Supply)

Ref. 126 201

Debit Credit 2,500 2,500

POSTING Advertising Supplies Oct. 5 2,500

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126

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Accounts Payable Oct. 5

201 2,500

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Hiring of Employees Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis

2010/09/13

October 9, 聘4名員工.10/15上班,每位週薪 $500, 每週工作5天, 每兩週付一次薪水, 第一次 付薪日為October 26. 並未發生企業交易, 僅是老闆與員工之協議, 自 10/15開始上班後才有交易發生, 目前無分錄.

A debit-credit analysis is not needed because there is no accounting entry.

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Withdrawal of Cash by Owner Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis

2010/09/13

On October 20, C. R. Byrd withdraws $500 cash for personal use.

The drawings account is increased $500; The asset Cash is decreased $500.

Debits increase drawings: debit C. R. Byrd Drawings $500. Credits decrease assets: credit Cash $500.

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Withdrawal of Cash by Owner Accounting 2010

JOURNAL ENTRY Date Oct. 20

Account Titles and Explanation C. R. Byrd, Drawing Cash (Withdrew cash for personal use)

Ref. 306 101

Debit Credit 500 500

POSTING Oct. 1 2 2010/09/13

Cash 10,000 Oct. 3 1,200 4 20

101 900 600 500 NTHUQF

C. R. Byrd, Drawing Oct. 20 500

306

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Payment of Salaries Accounting 2010

Transaction

October 26, 支付積欠employee salaries of $4,000 (See October 9 transaction.)

Basic Analysis

The expense account Salaries Expense is increased $4,000; the asset Cash is decreased $4,000.

Debit -Credit Analysis

Debits increase expenses: debit Salaries Expense $4,000. Credits decrease assets: credit Cash $4,000.

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Payment of Salaries Accounting 2010

JOURNAL ENTRY Date Oct. 26

Account Titles and Explanation Salaries Expense Cash (Paid salaries to date)

Ref. 726 101

Debit Credit 4,000 4,000

POSTING Oct. 1 2

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Cash 10,000 Oct. 3 1,200 4 20 26

101 900 600 500 4,000 NTHUQF

Salaries Expense Oct. 26 4,000

726

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Receipt of Cash for Fees Earned Accounting 2010

Transaction

Basic Analysis

Debit -Credit Analysis

2010/09/13

October 31, 收到Copa Company支付十 月份廣告服務的收入$10,000 The asset Cash is increased $10,000; The revenue Fees Earned is increased $10,000.

Debits increase assets: debit Cash $10,000. Credits increase revenues: credit Fees Earned $10,000.

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Receipt of Cash for Fees Earned Accounting 2010

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Cash Fees Earned (Received cash for fees earned)

Ref. 101 400

Debit Credit 10,000 10,000

POSTING Oct. 1 2 31

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Cash 10,000 Oct. 3 1,200 4 10,000 20 26

101 900 600 500 4,000 NTHUQF

Fees Earned Oct. 31

400 10,000

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試算表 (A Trial Balance) Accounting 2010

PIONEER ADVERTISING AGENCY Trial Balance October 31, 2008 Cash Advertising Supplies Prepaid Insurance 1. Office Equipment Notes Payable 2. Accounts Payable 3. Unearned Fees C. R. Byrd, Capital C. R. Byrd, Drawing Fees Earned Salaries Expense Rent Expense

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Debit $ 15,200 2,500 600 列式所有會計科目名稱與餘額 5,000

Credit

借方與貸方個別予以加總 驗證貸方與借方總額是否相同

$ 5,000 2,500 1,200 10,000 500 10,000

4,000 900 $ 28,700

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$ 28,700

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會計期間假設(Time Period Assumption) Accounting 2010

會計將企業生命劃分段落,以便計算損益, 編制報 表, 俾及時提供報表. ..... Jan.

2010/09/13

Feb.

Mar.

Apr.

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Dec.

81

會計基礎 (Accounting Basis) Accounting 2010

 指會計上對於收益與費用歸屬期間之認定 所用的標準， 並為入帳之依據。  種類：  現金基礎(Cash basis)  Revenue is recorded when cash is received=>收錢=>收入  Expenses are recorded when cash is paid=>付錢=>費用  應計基礎(Accrued basis):  收益實現原則(Revenue recognition) =>收入,

 Revenues are recognized when earned, rather than when cash is received

 配合原則(Matching principles) =>費用  Expenses are recognized when incurred, rather than when paid

 GAAP requires accrual basis accounting  Cash basis often causes misleading financial statements. 2010/09/13

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Revenue Recognition Principle Accounting 2010

 意義:用來決定何期應該認 列收入的指導原則.  通常在賺得(earned)的時 候認列，因為主要的獲利 過程(關鍵階段)已完成 => Not just when money is exchanged.

 例如:  Service business: at the time the service is performed.  買賣業: At the time product is sold. 2010/09/13

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The Matching Principle Accounting 2010

 Expense recognition is the matching principle.  意義  Efforts (expenses) must be matched with accomplishments (revenues).

 “Let the expenses follow the revenues.” => 跟這筆收入有關的費用, 要 與這筆收入再同一其認列 => 如此才知道”淨賺”多少

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Timing Issues Accounting 2010

GAAP relationships in revenue and expense recognition

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The Basics of Adjusting Entries (調整) Accounting 2010

意義與目的  根據收益在earned期間認列,expense 在同期配合認列, 使財務報表適當表達正確經營成果, 所為之分錄 Revenues to be recorded in the period in which they are earned(賺得) Expenses to be recognized in the period in which they are incurred(發生).

時機  Required each time financial statements are prepared (通常是期末)

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Types of Adjusting Entries Accounting 2010

預付項目(Prepayments)  預付費用(Prepaid expenses)  預收收益(Unearned revenues)

應計項目(Accruals)  應計收益(Accrued revenues)  應計費用(Accrued expenses)

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預付項目(Prepayments) Accounting 2010

預付費用(Prepaid expenses)  係未享用財貨或勞務之前，先行支付現金之費用  Expenses paid in cash - recorded as assets before used or consumed(已耗用部份作為費用 =>incurred).

預收收益(Unearned Revenues) :  指未提供財貨或勞務之前，已先行取得現金之收入  Cash received - recorded as liabilities before the revenue is earned (但已提供後為 收入=>earned!)

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Prepaid Expenses Accounting 2010

 預付費用  Expenses paid in cash and recorded as assets before they are used or consumed  Prepaid expenses expire with the passage of time or through use and consumption

 調整前, 資產高估(overstated), 費用低估(understated).  The adjusting entry =>Debit to an expense account, credit to an asset account.  An asset-expense account relationship exists with prepaid expenses.

 例子  Supplies, insurance, advertising, rent, and depreciation.

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Adjusting Entries for “Prepaid Expenses” Accounting 2010

Increase (debit) an expense account and Decrease (credit) an asset account.

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Adjusting Entries for Prepayments Supplies Accounting 2010 ADJUSTMENT

October 31, an inventory count reveals that $1,000 of $2,500 of supplies are still on hand.

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Advertising Supplies Expense Advertising Supplies (To record supplies used)

Debit Credit 1,500 1,500

POSTING Advertising Supplies Oct. 5 2,500 Oct. 31 1,500 31 1,000 2010/09/13

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Advertising Supplies Expense Oct. 31 1,500 91

Adjusting Entries for Prepayments Insurance Accounting 2010 ADJUSTMENT

October 31, an analysis of the policy reveals that $50 of insurance expires each month.

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Insurance Expense Prepaid Insurance (To record insurance expired)

Debit Credit 50 50

POSTING Prepaid Insurance Oct. 4 31 2010/09/13

600 Oct. 31

10 50

Insurance Expense Oct. 31 50

63

550 NTHUQF

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Q&A

30

Accounting 2010

 On July 1, 2005, Bluestem Insurance Company received $12,000 from a client for a 2-year insurance policy.  Instructions  Prepare the necessary journal entries for Bluestem on July 1 and December 31.

 Ans: 7/1

Cash 12,000 Unearned Insurance Revenue 12,000 12/31 Unearned Insurance Revenue 3,000 Insurance Revenue 3,000

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預收收益 (Unearned Revenues) Accounting 2010

 Revenues received and recorded as liabilities before they are earned  在尚未提供勞務前已預收現金,故列為負債.  Earned by rendering a service to a customer.

 A liability-revenue account relationship exists with unearned revenues.  在做調整前,負債高估(overstated) and 收入低估 (understated).  The adjusting entry =>Debit to a liability account, credit to a revenue account.

 例子  Rent, magazine subscriptions, 客戶之存入保證金( customer deposits for future services), airline tickets, school tuition .

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Adjusting Entries for “Unearned Revenues” Accounting 2010

Decrease (debit) to a liability account and Increase (credit) to a revenue account. 2010/09/13

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Adjusting Entries for Prepayments Unearned Revenues

Accounting 2010

ADJUSTMENT

October 31, analysis reveals that, of $1,200 in fees, $400 has been earned in October.

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Unearned Revenue Service Revenue (To record revenue for services provided)

Debit Credit 400 400

POSTING Unearned Revenue Oct. 31 400 Oct. 2 31 2010/09/13

1,200 800 NTHUQF

Service Revenue Oct. 31 31

10,000 400 96

Depreciation Accounting 2010

 以合理且有系統的方式,將資產購入成本方攤在耐用期間 (Useful life)的程序, 稱為提列折舊, 各期分攤的成本稱為折 舊.  設備或建築物的取得成本,視為預付長期勞務的支出, 故應 於受益期間分攤.  Depreciation is an estimate rather than a factual measurement of the cost that has expired.  折舊性資產(Depreciable asset )  金額較預期預付費用大，使用年限長。  如: 房屋、機器、運輸設備、辦公設備

 為何攤提折舊？  (1)使用時磨損 (2)技術進步、導致過時 2010/09/13

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Depreciation Accounting 2010

Recording depreciation  Debit Depreciation Expense  Credit Accumulated Depreciation (Contra asset)

折舊金額之計算:  使用直線法(Straight-line depreciation)  (資產成本 – 殘值) / useful life Accumulated Depreciation

Depreciation Expense

XXX

XXX

2010/09/13

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98

Depreciation Accounting 2010

 Balance Sheet  Accumulated Depreciation is offset against the asset account  未直接貸計資產而貸計AD, 旨在保持下列資訊:  原始購入成本,  目前為止累積已折舊的 數字  Asset --> accumulated depreciation = book value.  Book value is not equal to market value.

2010/09/13

Balance Sheet

Oct. 31

Assets

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Equipment 5,000 Accumulated Depreciation (40) Net Equipment 4,960

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Adjusting Entries for Prepayments Depreciation Accounting 2010 ADJUSTMENT

October 31, depreciation on the office equipment is estimated to be $480 a year, or $40 per month.

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Depreciation Expense Accumulated Depreciation - Office Equipment (To record monthly depreciation)

Debit Credit 40 40

POSTING Accumulated Depreciation Office Equipment Oct. 31 40 2010/09/13

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Depreciation Expense Oct. 31 40 100

Q&A

(30)

Accounting 2010

 Coat Company purchased equipment on June 1 for $54,000, paying $12,000 cash and signing a 12%, 2-month note for the remaining balance. The equipment is expected to depreciate $12,000 each year. Coat Company prepares monthly financial statements.  Instructions (a) Prepare the general journal entry to record the acquisition of the equipment on June lst. (b) Prepare any adjusting journal entries that should be made on June 30th. (c) Show how the equipment will be reflected on Coat Company's balance sheet on June 30th.

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Ans: Accounting 2010

(a) Equipment 54,000 Cash Note Payable (b) Depreciation Expense 1,000 Accumulated Depreciation (c) Coat Company Balance Sheet June 30, xxxx Property, plant and equipment Office equipment $ 54,000 Less: Accumulated Dep. 1,000 2010/09/13

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12,000 42,000 1,000

53,000 102

Adjusting Entries for Prepayments Accounting 2010

Adjusting Entries Prepaid Expenses Asset

Expense

Unadjusted Credit Balance Adjusting Entry (-)

Debit Adjusting Entry (+)

Unearned Revenues Liability Debit Adjusting Entry (-) 2010/09/13

Revenue

Unadjusted Balance

Credit Adjusting Entry (+) NTHUQF

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應計項目(Accruals) 應計收益(Accrued Revenues)

Accounting 2010

 本期已實現但尚未收取之各項收入  Revenues earned but not yet received in cash or recorded =>已提供勞務,或隨時間經過而賺取之收入(如租金),因尚 未收現,故期末應認補列為資產以承認此收入=>資產.

應計費用(Accrued Expenses)  係指本期已發生而尚未支付的各項費用  Expenses incurred but not yet paid in cash or recorded =>隨時間經過而發生之費用(如租金),因尚未付現,故期末 應認列為債以承認此費用=>負債. 2010/09/13

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104

應計項目(Accruals) Accounting 2010

Adjusting entries  Required to record revenues earned and expenses incurred in the current period

Adjusting entry for accruals  Influence both a balance sheet and an income statement account

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105

應計收益(Accrued Revenues) Accounting 2010

Accrued revenues  Accumulate with the passing of time or through services performed but not billed or collected  An asset-revenue account relationship exists  Prior to adjustment, assets and revenues are understated

Adjusting entry  Debit an asset account  Credit a revenue account

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106

Adjusting Entries for “Accrued Revenues” Accounting 2010

Increase (debit) an asset account and Increase (credit) a revenue account. 2010/09/13

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107

Adjusting Entries for Accruals Accrued Revenues Accounting 2010 ADJUSTMENT

October 31, the agency earned $200 for advertising services that were not billed to clients before October 31.

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Accounts Receivable Service Revenue (To accrue revenue for services provided)

Debit Credit 200 200

POSTING Accounts Receivable Oct. 31 200

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Service Revenue Oct. 31 31 31 31

10,000 400 200 10,600

108

Q&A

32

Accounting 2010

 Ward Realty is in the business of renting several apartment buildings and prepares monthly financial statements. It has been determined that 3 tenants in $600 per month apartments and one tenant in the $1,000 per month apartment had not paid their August rent as of August 31st.  Prepare the required end-of-period adjusting entries  Ans: Rent Receivable Rent Revenue

2010/09/13

2,800

2,800

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109

Accrued Expenses Accounting 2010

Accrued expenses  Expenses incurred but not paid yet  A liability-expense account relationship exists  Prior to adjustment, liabilities and expenses are understated  Ex: rent, interest, salaries, taxes.

Adjusting Entry  Debit an expense account  Credit a liability account

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110

Adjusting Entries for “Accrued Expenses” Accounting 2010

Increase (debit) an expense account and Increase (credit) a liability account.

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111

Adjusting Entries for Accruals Accrued Interest Accounting 2010 ADJUSTMENT

October 31, the portion of the interest to be accrued on a 3-month note payable is calculated to be $50.

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Interest Expense Interest Payable (To accrue interest on notes payable)

Debit Credit 50 50

POSTING Interest Expense Oct. 31 50 2010/09/13

Interest Payable Oct. 31 NTHUQF

50 112

Adjusting Entries for Accruals Accrued Salaries Accounting 2010 ADJUSTMENT

October 31, accrued salaries are calculated to be $1,200.

JOURNAL ENTRY Date Oct. 31

Account Titles and Explanation Salaries Expense Salaries Payable (To record accrued salaries)

Debit Credit 1,200 1,200

POSTING Salaries Expense Oct. 26 4,000 31 1,200 31 5,200 2010/09/13

Salaries Payable Oct. 31

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1,200

113

Q & A 37 Accounting 2010

 On Friday of each week, Noble Company pays its factory personnel weekly wages amounting to $35,000 for a fiveday work week.  Instructions (a) Prepare the necessary adjusting entry at year end, assuming December 31 falls on Wednesday. (b) Prepare the journal entry for payment of the week's wages on the payday which is Friday, January 2 of the next year.

 Ans: (a) Wages Expense Wages Payable (b) Wages Expense Wages Payable Accumulated Depreciation 2010/09/13

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21,000 21,000 14,000 21,000 35,000 114

Summary of Adjusting Entries Accounting 2010

Type of Adjustment

1 Prepaid expenses 2 Unearned revenues 3 Accrued revenues 4 Accrued expenses

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Account Relationship

Assets and expenses Liabilities and revenues Assets and revenues Expenses and liabilities

Accounts before Adjustment

Assets overstated Expenses understated Liabilities overstated Revenues understated Assets understated Revenues understated Expenses understated Liabilities understated

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Adjusting Entry Dr. Expenses Cr. Assets Dr. Liabilities Cr. Revenues Dr. Assets Cr. Revenues Dr. Expenses Cr. Liabilities

115

調整後試算表(Adjusted Trial Balance) Accounting 2010

時機  Prepared after all adjusting entries have been journalized and posted

目的  Prove equality of the total debit and credit balances in the ledger after adjustments have been made

Financial statements  Prepared directly from the adjusted trial balance

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116

Trial Balance and Adjusted Trial Balance Compared Accounting 2010 PIONEER ADVERTISING AGENCY Adjusted Trial Balance October 31, 2008

Cash Accounts Receivable Advertising Supplies Prepaid Insurance Office Equipment Accumulated Depreciation - Office Equipment Notes Payable Accounts Payable Interest Payable Unearned Revenue Salaries Payable C. R. Byrd, Capital C. R. Byrd, Drawing Service Revenue Salaries Expense Advertising Supplies Expense Rent Expense Insurance Expense Interest Expense Depreciation Expense

Before Adjustment Debit Credit $ 15,200 2,500 600 5,000 $ 5,000 2,500 1,200 10,000 500 10,000 4,000 900

$ 28,700

2010/09/13

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$ 28,700

After Adjustment Debit Credit $ 15,200 200 1,000 550 5,000 $ 40 5,000 2,500 50 800 1,200 10,000 500 10,600 5,200 1,500 900 50 50 40 $ 30,190 $ 30,190

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Preparing Financial Statements Accounting 2010

Income statement  Use the revenue and expense accounts

Owner’s Equity Statement  Use the owner’s capital and drawing accounts and the net income (or net loss) from the Income Statement

Balance sheet  Use asset and liability accounts and ending owner’s capital balance reported in Owner’s Equity Statement

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118

Preparation of I/S and O/E from the Adjusted Trial Balance Accounting 2010 PIONEER ADVERTISING AGENCY Adjusted Trial Balance October 31, 2008 Cash Accounts Receivable Advertising Supplies Prepaid Insurance Office Equipment Accumulated Depreciation - Office Equipment Notes Payable Accounts Payable Interest Payable Unearned Revenue Salaries Payable C. R. Byrd, Capital C. R. Byrd, Drawing Service Revenue Salaries Expense Advertising Supplies Expense Rent Expense Insurance Expense Interest Expense Depreciation Expense

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Debit $ 15,200 200 1,000 550 5,000

Credit

$

40 5,000 2,500 50 800 1,200 10,000

500 10,600 5,200 1,500 900 50 50 40 $ 30,190

$ 30,190

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Income Statement Accounting 2010

PIONEER ADVERTISING AGENCY Income Statement For the Month Ended October 31, 2008 Revenues Fees earned

$ 10,600

Expenses Salaries expense Advertising supplies expense Rent expense Insurance expense Interest expense Depreciation expense Total expenses Net income

$ 5,200 1,500 900 50 50 40 7,740 $ 2,860

The income statement is prepared from the revenue and expense accounts. 2010/09/13

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120

Preparation of I/S and O/E from the Adjusted Trial Balance Accounting 2010 PIONEER ADVERTISING AGENCY Adjusted Trial Balance October 31, 2008 Cash Accounts Receivable Advertising Supplies Prepaid Insurance Office Equipment Accumulated Depreciation – Office Equipment Notes Payable Accounts Payable Interest Payable Unearned Revenue Salaries Payable C. R. Byrd, Capital C. R. Byrd, Drawing Service Revenue Salaries Expense Advertising Supplies Expense Rent Expense Insurance Expense Interest Expense Depreciation Expense

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Debit $ 15,200 200 1,000 550 5,000

Credit

$

40 5,000 2,500 50 800 1,200 10,000

500 10,600 5,200 1,500 900 50 50 40 $ 30,190

$ 30,190

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Owner’s Equity Statement Accounting 2010

PIONEER ADVERTISING AGENCY Owner’s Equity Statement For the Month Ended October 31, 2008 C.R. Byrd, Capital, October 1 Add: Investments Net income

$

$ 10,000 2,860

Less: Drawings C.R . Byrd, Capital, October 31

-0-

12,860 12,860 500 $ 12,360

The owner’s equity statement is prepared from the owner’s capital and drawing accounts and the net income (or net loss) shown in the income statement.

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122

Preparation of B/S from the Adjusted Trial Balance Accounting 2010 PIONEER ADVERTISING AGENCY Adjusted Trial Balance October 31, 2008 Cash Accounts Receivable Advertising Supplies Prepaid Insurance Office Equipment Accumulated Depreciation – Office Equipment Notes Payable Accounts Payable Interest Payable Unearned Revenue Salaries Payable C. R. Byrd, Capital C. R. Byrd, Drawing Service Revenue Salaries Expense Advertising Supplies Expense Rent Expense Insurance Expense Interest Expense Depreciation Expense

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Debit $ 15,200 200 1,000 550 5,000

Credit

$

40 5,000 2,500 50 800 1,200 10,000

500 10,600 5,200 1,500 900 50 50 40 $ 30,190

$ 30,190

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Balance Sheet Accounting 2010

PIONEER ADVERTISING AGENCY Balance Sheet October 31, 2008 Liabilities and Owner’s Equity

Assets Cash Accounts receivable Advertising supplies Prepaid insurance Office equipment Less: Accumulated depreciation

Total assets

$ 15,200 200 1,000 550

$ 5,000 40

4,960

$ 21,910

Liabilities Notes payable Accounts payable Interest payable Unearned fees Salaries payable Total liabilities Owner’s equity C.R. Byrd, Capital Total liabilities and owner’s equity

$ 5,000 2,500 50 800 1,200 9,550

12,360 $ 21,910

The balance sheet is then prepared from the asset and liability accounts and the ending owner’s capital balance as reported in the owner’s equity statement. 2010/09/13

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結帳: Temporary & Permanent Accounts Accounting 2010

(NOMINAL)

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(REAL)

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暫時性與永久性帳戶 Accounting 2010

永久性或實帳戶(Permanent or real account)  帳戶本身隨著企業永續經營而持續存在, 期末並不消失, 而在下期仍繼續存在.  如資產, 負債, 股東權益(如股本與保留盈餘).

暫時性或虛帳戶(Temporary account)  只存在特定一個會計期間之帳戶, 目的僅在其供業主權 益變動之相關資訊, 俟期間結束, 此帳戶即可結束, 其餘 額即歸至業主權益.  如收入, 費用, drawing等科目

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126

結帳分錄(Closing entries) Accounting 2010

 結帳(Closing)  期末將虛帳戶餘額轉入業主權益,使虛帳戶歸零, 以便下期重新記 載相關交易金額之程序, 至於實帳戶則不結帳.  結帳分錄的分錄與過帳, 是會計循環(accounting cycle)中必要的步 驟.  期末將淨利與drawing轉入損益彙總(保留盈餘),以結清所有虛帳戶.

 本期損益/損益彙總(Income Summary)  為一暫時性科目,企業將收入與費用先彙總並結轉至此科目,再一次 將餘額轉至永久性之保留盈餘科目.

 在日記簿之調整分錄之後,用結帳分錄之標題加以區隔後, 即可將結帳分錄依次寫入.

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結帳分錄圖 Accounting 2010 (INDIVIDUAL) EXPENSES

(INDIVIDUAL) REVENUES

2

1 OWNER’S CAPITAL

1. 將收入轉入損益彙總. => 借記收入科目, 貸記損益彙總科目. 2. 再將費用轉入損益彙總. => 借記損益彙總科目, 貸記費用科目.

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結帳分錄圖 Accounting 2010 INCOME SUMMARY

3 OWNER’S CAPITAL

3. 最後將損益彙總轉入Owner’s Capital. a. 有正的損益彙總時, 借記損益彙總, 貸記Owner’s Capital b. 有負的損益彙總時, 借記Owner’s Capital, 貸記損益彙總

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129

結帳分錄圖 Accounting 2010 OWNER’S CAPITAL

4 OWNER’S DRAWING

4. 將提取轉入Owner’s Capital. =>借記Owner’s Capital, 貸記提取.

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130

Closing the Books Accounting 2010

Note: Owner’s Drawing is closed directly to Capital and not to Income Summary because Owner’s Drawing is not an expense.

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Owner’s Capital is a permanent account; all other accounts are temporary accounts.

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131

結帳分錄的分錄製作 Accounting 2010

GENERAL JOURNAL Date Account Titles and Explanation 2005 (1) Oct. 31 Service Revenue Income Summary (To close revenue account)

INCOME SUMMARY

Date 2005 Oct. 31 31 31

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Explanation

Debit

NO.400 Credit

10,600

Balance 10,600

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Date 2005 Oct. 31 31

Ref.

Debit

Credit

10,600

400 350

10,600

Service Revenue Explanation

NO. 350

Debit

Credit Balance

10,600

10,600 –0–

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結帳分錄的分錄製作 Accounting 2010

GENERAL JOURNAL Date 2005 Oct. 31

Account Titles and Explanation (2) Income Summary Salaries Expense Advertising Supplies Expense Rent Expense Insurance Expense Interest Expense Depreciation Expense (To close expense accounts)

INCOME SUMMARY

Date 2005 Oct. 31 31

2010/09/13

Explanation

Debit

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Debit

350 726 631 729 722 905 911

7,740

Credit

5,200 1,500 900 50 50 40

NO. 350 Credit 10,600

7,740

Ref.

Balance 10,600 2,860

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結帳分錄的分錄製作 Accounting 2010

GENERAL JOURNAL Date 2005 Oct. 1

Account Titles and Explanation (3) Income Summary C. R. BYRD CAPITAL (To close net income to capital)

NO. 350

INCOME SUMMARY Date 2005 Oct. 31 31 31

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Explanation

Debit

Credit Balance 10,600

7,740

2,860

10,600 2,860 –0–

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Ref.

Debit

350 301

2,860

Credit

2,860

C. R. BYRD CAPITAL Date 2005 Oct. 31 31

Explanation

Debit

NO. 301

Credit Balance

2,860

–0– 2,860

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結帳分錄的分錄製作 Accounting 2010

GENERAL JOURNAL Date 2005 Oct. 1

Date 2005 Oct. 31 31

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Account Titles and Explanation (3) C. R. BYRD CAPITAL C. R. BYRD DRWAING (To close dividends to capital)

C. R. BYRD DRWAING Explanation Debit

NO. 350 Credit Balance

500

500 –0–

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Ref. 350 301

Debit

Credit

500 500

C. R. BYRD CAPITAL Date 2005 Oct. 31 31

Explanation

Debit

500

Credit

NO. 301 Balance 2,860 2,360

135

結帳分錄的過帳 Accounting 2010

 虛帳戶結帳後,餘額都為0.  保留盈餘餘額為累賺未分配的金額.  Income Summary旨在期末出現,用來結帳,平時不會出現=>故無 分錄與過帳的問題.

 計算暫時性帳戶餘額, 於合計餘額下方劃記雙線, 以表示 結清本期餘額.  永久性帳戶(資產, 負債, 業主權益等帳戶)期末餘額不結 清, 於本期金額下方劃記單線, 再將餘額記在單線下方. 其餘額轉入下期.

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136

結帳分錄的過帳 Accounting 2010 Salaries Expense 4,000 (2) 5,200 1,200 5,200

726

(1)

5,200

Advertising Supplies Expense 1,500 (2) 1,500

Rent Expense 900 (2)

1

2

Service Revenue 10,600 10,000 400 200 10,600 10,600

400

631

(2) (3)

729 900

Income Summary 7,740 (1) 10,600 2,860 10,600

350

10,600

3 Insurance Expense 50 (2)

722 50

(4) 2

Interest Expense 50 (2)

C. R. Byrd, Capital 500 10,000 (3) 2,860

905

301

12,360

50 4

Depreciation Expense 40 (2) 40

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C. R. Byrd, Drawing 500 (4) 500

711

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306

137

結帳後試算表(post-closing trial balance) Accounting 2010

 目的:  驗算這些要結轉下一期的永久性帳戶的借貸雙方是否一致  結帳後試算表上皆為實帳戶, 可作為編製資產負債表之依據。

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Summary of the Accounting Cycle Accounting 2010

1. 分析企業的交易

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9. Prepare a post-closing trial balance (編制結帳後試算表)

2. Journalize the transactions (將交易寫成分錄)

8. Journalize and post closing entries (寫結帳分錄並過帳)

3. Post to ledger accounts (過到分類帳)

7. Prepare financial statements

4. Prepare a trial balance (編制調整前試算表)

6. Prepare an adjusted trial balance(編制調整後試算表)

5. Journalize and post adjusting entries (寫調整分錄並過帳)

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資產負債表之標準分類 Accounting 2010

會計科目加以分類成各別小組以有效利用財務報 表 資產負債表之標準分類如下: Assets 流動資產(Current Assets) 長期投資(Long-Term Investments) 財產, 廠房, 設備(Property, Plant and Equipment) 無形資產(Intangible Assets)

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Liabilities and Owner’s Equity 流動負債(Current Liabilities) 長期負債(Long-Term Liabilities) 股東權益(Owner’s (Stockholders’) Equity

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140

流動資產(Current Assets) Accounting 2010

 係指現金及預期在一年或一個營業週期中可即時變現, 出 售, 或消耗掉的其他資產.  如: A/R, Prepaid expense, etc.

 流動資產項目中, 按該項目的liquidity高低,而由高而低列示    

現金 有價證券(Short-term investment) 應收款項(Receivables) 預付費用(Prepaid expense)

 企業的營業週期(Operating cycle):  This is the average time required to go from cash to cash in producing revenues.  此為企業短期償債能力之評估依據. 2010/09/13

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141

長期投資與財產, 廠房與設備 Accounting 2010

長期投資(Long-term investments):  預期變現時間超過一年或一個營業週期以上的資產.  例如:Investments in stock or bonds of another company

財產, 廠房與設備(Property, plant, and equipment)  為耐久性有形資產, 是供企業從事經營而非銷售之用.  例如: Land, buildings, and machinery等.

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142

無形資產(Intangible assets) Accounting 2010

無實體存在的非流動性資產. 例如  Patents, copyrights, trademarks, or trade names, gives the holder exclusive right of use for a specified period of time (專利, 版權, 商標, 商業名稱專用權等, 這 些接賦予持有人於法定期間內禁止他人使用之排他性 權利).

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流動負債(Current liabilities) Accounting 2010

 可預期能在一年內或一個營業週期內以流動資產或產生其 他流動負債來加以償還的債務.  Ex. Accounts payable, wages payable, interest payable and current maturities of long-term debt(一個營業週期內到期的長期 負債).

 流動負債是評估企業流動性(Liquidity )之重要依據.  Liquidity - ability to pay obligations expected to be due within the next year.

 Usually list notes payable first, followed by accounts payable. Other items follow in order of magnitude.

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長期負債(long-term liabilities) Accounting 2010

預期須在一年後或一個營業週期以後, 才需償還的 債務.  應付公司債(bonds payable),  抵押借款(mortgages payable),  長期應付票據(Long-term notes payable),  租賃負債(lease liabilities).

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業主權益 Accounting 2010

依據組織型態之不同, 業主權益的部分也有異.

 獨資(Proprietorship)企業的業主權益部份, 主要項目為:  (Owner’s Name), Capital.  合夥(Partnership)下的業主權益部份, 每個合夥人下各 別設立(Owner’s Name), Capital. 包括兩大部分: 1. Owner’s Drawing 2. Owner’s Capital  公司(Corporation)組織  Capital Stock and  Retained Earnings

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報告式 (Report Form of B/S) Accounting 2010

PIONEER ADVERTISING AGENCY Balance Sheet October 31, 2005 Assets Current assets Cash Accounts receivable Advertising supplies Prepaid insurance Total current assets Property, plant, and equipment Office equipment Less: Accumulated depreciation Total assets

$ 15,200 200 1,000 550 16,950 $ 5,000 40

4,960 $ 21,910

分類式資產負債表幫助財務報表使用人快速地得知 1. 當負債到期時, 資產的可用性有多少; 2. 債權人可自總資產中取得多少債權. 2010/09/13

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報告式 (Report Form of B/S) Accounting 2010 Liabilities and Owner’s Equity Current liabilities Notes payable Accounts payable Interest payable Unearned reveneue Salaries payable Total current liabilities Long-term liabilities Notes payable Total liabilities Owner’s equity C. R. BYRD Capital

$1,000 2,500 50 800 1,200 5,550 4,000 9,550 12,360 $21,910

Total liabilities and Owner’s equity

•資產負債表通常以報告式編寫. •而資產項目於前, 負債與業主權益項目於後.

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報告式 (Report Form of B/S) Accounting 2010

PIONEER ADVERTISING AGENCY Balance Sheet October 31, 2005 Assets Current assets Cash Account receivables Advertising supplies Prepaid insurance Total current assets Property, plant and equipment Office equipment $ 5,000 Less: Accumulated Dep. 40

Liabilities and Owner’s Equity $ 15,200 200 1,000 550 16,950

4,960

Current liabilities Notes payable Accounts payable Interest payable Unearned revenue Salaries payable Total current liabilities Long-term liabilities Notes payable Total liabilities Owner’s equity C. R. BYRD Capital

Total assets

2010/09/13

$ 21,910

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Total liabilities and Owner’s Equity

$1,000 2,500 50 800 1,200 5,550 4,000 9,550 12,360

$21,910

149

會計循環簡單圖示說明 Accounting 2010

平 時 會 計 工 作

期 間 終 了 會 計 工 作 2010/09/13

會 計 事 項

會 計 憑 證 調 整 工 作 底 稿

結 帳 工 作 底 稿

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150