會計英語1公開課一等獎市賽課一等獎?wù)n件

WELCOME!Haven’tseenyouforsometime!遼寧對外經(jīng)貿(mào)學(xué)院外語系李海紅

會計英語

ACCOUNTINGUNITONEFinancialPositionandAccountingEquation

Financialposition:economicresourcesbelongingtoacompanyandtheclaims(equities)againstthoseresourcesatapointintime.Economicresources=equitiesEconomicresources=creditor’sequity+owner’sequityAccountingequation:assets=liabilities+owner’sequityfourtypesoftransactionsthataffectowner’sequity

Owner’sinvestmentsOwner’sequityrevenuesOwner’swithdrawalsexpensesThefullformofaccountingequation:Assets=Liabilities+Owner’sEquity+Revenue-ExpensesOwner’sequityDefinition:theresidualinterestintheassetsofanentitythatremainsafterdeductingitsliabilities.Owner’sequity=assets–liabilitiesOwner’sequity=netassetsLiabilitiesDefinition:probablefuturesacrificesofeconomicbenefitsarisingfrompresentobligationsofaparticularentitytotransferassetsorprovideservicestootherentitiesinthefutureasaresultofpasttransactionsorevents.Kindsofliabilities:currentliabilitiesandlong-termliabilitiesAssetsDefinition:probablefutureeconomicbenefitsobtainedorcontrolledbyaparticularentityasaresultofpasttransactionsorevents;economicresourcesownedbyabusinessthatareexpectedtobenefitfutureoperations.Kindsofassets:currentassets,fixedassetsandintangibleassets.Economicresourcesarereferredtoasassetsandcreditors’equitiesarereferredtoasliabilities.Equities:creditor’sequityandowner’sequityCurrentassets:cash,accountsreceivable,inventories,Fixedassets:land,buildings,andequipmentIntangibleassets:patent,trademarkandbrandname,copyright,franchiseCurrentliabilities:accountspayable,salariespayable,taxespayable,Long-termliabilities:bondspayableCLASSROOMEXERCISESIndicatebelowwhethereachaccountisanassets(A),liabilities(L),orapartofowner’sequity(OE).CashSalariesPayableAccountsReceivableJohnson,CapitalLandAccountsPayableSuppliesClassroomexercises:1.Identifythefollowingtransactionsbytypeofowner’sequitytransactionbymarkingeachaseitheranowner’sinvestment(I),owner’swithdrawal(W),revenue(R),expense(E)ornotanowner’sequitytransaction(NOE).a.Receivedcashforprovidingaservice.b.Tookassetsoutofbusinessfromapersonalaccount.C.Receivedcashfromacustomerpreviouslybilledforaservice.d.Transferredassetstothebusinessfromapersonalaccout.e.Paidservicestationforgasoline.f.Performedaserviceandreceivedapromiseofpayment.g.Paidcashtopurchaseequipment.h.Paidcashtoemployeeforservicesperformed.Part2ILLUSTRATIVETRANSACTIONSTransactions1.Johnbeginshisbusinessbydepositing$50,000inabankaccountinthenameofShannonRealty.(investment)Assets=Liabilities+Owner’sEquity1

$50,000

$50,000Bal.$50,000$50,0002.Johnpurchasesalotfor$10,000andasmallbuildingonthelotfor$25,000withcash.(purchaseofassetswithcash)Assets=Liabilities+Owner’sEquity

$50,000$50,000

2.+10,000(land)+25,000

(building)

-35,000(cash)Bal.$50,000$50,0003.Johnbuyssomeofficesuppliesfor$500oncredit.(Purchaseofassetsbyincurringaliability)Assets=Liabilities+Owner’sEquity$50,000$50,000

3.+$500(supplies)+$500(accountspayable)Bal.$50,500$500$50,0004.Johnpays$200ofthe$500owedforthesupplies.(paymentofaliabilities)Assets=Liabilities+Owner’sEquity$50,500$500$50,000

-$200(cash)-$200(accountspayable)Bal.$50,300$300$50,0005.ShannonRealtysellsahouseandreceivesacommissionincashof$1,500.

Assets=Liabilities+Owner’sEquity$50,300$300$50,000

5.+$1,500(cash)+$1,500(revenue)Bal.$51,800$300$51,5006.Johnsellsahousecallingforacommissionof$2,000,butJohnagreestowaitforthepayment.(revenueoncredit)Assets=Liabilities+Owner’sEquity$51,800$300$51,500

$2,000

(accountsreceivable)$2,000

(revenue)Bal.53,800$300$53,5007.AfewdayslaterShannonreceives$1,000fromtheclient.Assets=Liabilities+Owner’sEquity$53,800$300

$53,500

7.+$1,000(cash)

-$1,000(accountsreceivable)

bal.$53,800$300$53,500

8.JohnShannonpays$1,000torentsomeequipmentfortheoffice.Assets=Liabilities+Owner’sEquity$53,800$300

$53,5008.-$1,000(cash)

-$1,000(expense)

bal.$52,800$300$52,5009.Johnpays$400inwagestoapart-timehelper.(expense)Assets=Liabilities+Owner’sEquity$52,800$300$52,5009.-$400(cash)

-$400(expense)Bal.$52,400$300$52,10010.Johnhasn’tpaidthebillofutilityexpenseof$300.Assets=Liabilities+Owner’sEquity

$52,400$300$52,100

+$300(accountspayable)-$300(expense)Bal.$52,400$600$51,80011.Johnwithdraws$600incashfromShannonRealtyanddepositsitinhispersonalaccount.Assets=Liabilities+Owner’sEquity$52,400$600$51,80011.-$600(cash)

-$600(capital)

Ba.$51,800$600$51,200ClassroomexercisesCharleneRudekfinishedlawschoolinJuneandimmediatelysetupherownlawpractice.Duringthefirstmonthofoperationshecompletedthefollowingtransactions:1.Beganthelawpracticebyplacing$2,000inabankaccountestablishedforthebusiness.2.Purchasedalawlibraryfor$900cash.3.Purchasedofficesuppliesfor$400oncredit.

4.Accepted$500incashforcompletingacontract.5.Billedclients$1,950forservicesrenderedduringthemonth.6.Paid$200oftheamountowedforofficesupplies.7.Received$1,250incashfromoneclientwhohadbeenpreviouslybilledforservicesrendered.8.Paidrentexpenseforthemonthintheamountof$1,200.9.Withdrew$400fromthepracticeforpersonaluse.Onasheetofpaper,listthenumbers1through10,withcolumnsforAssets,Liabilities,andOwner’sEquity.Inthecolumns,indicatewhethereachtransactioncausedanincrease(+),adecrease(-),ornochange(NC)inassets,liabilities,andowner’sequity.DuringthemonthofApril,GrissomCo.hadthefollowingtransactions:1.PaidsalariesforApril,$1,800.2.Purchasedequipmentoncredit,$3000.3.Purchasedsupplieswithcash,$100.4.Additionalinvestmentbyowner,$4,000.5.Paidforpartofequipmentpreviouslypurchasedoncredit,$1,000.6.Receivedpaymentforservicesperformed,$600.7.Billedcustomersforservicesperformed,$1,600.8.Withdrewcash,$1,500.9.Receivedpaymentfromcustomersbilledpreviously,$300.10.Receivedutilitybill,$70..Part3ProfessionalEthicsandAccountingProfession李海紅ProfessionalEthicsandtheAccountingProfessionRevisions:1.Accountingequation2.Useaccountingequationtoanalyzethetransactions.AccountingProfessionEthics

ManagementAccountingPublicAccountingGovernmentandotherNot-for-ProfitAccountingAccountingEducationEthicsEthicsistheapplicationofacodeofconducttoeverydaylife.Itaddressesthequestionofwhetheractionsaregoodorbad,rightorwrong.Ethicsactionsaretheresultsofindividualdecisionsandyouarefacedwithmanyethicalsituationseveryday.ManagementAccountinganaccountantwhoisemployedbyabusinessissaidtobeinmanagementaccounting.Asmallbusinessmayhaveonlyonepersondoingthiswork,thoughamedium-sizeorlargecompanymayhavehundredsofaccountantsworkingunderachiefaccountingofficercalledacontroller,treasurer,orfinancialvicepresident.PublicAccountingthefieldofpublicaccountingoffersservicesinauditing,taxes,andmanagementconsultingtothepublicforafee.GovernmentandOtherNot-for-ProfitAccountingAgenciesanddepartmentsatalllevelsofgovernmenthireaccountantstopreparereportsthatofficialscanresponsiblycarryouttheirduties.Not-for-Profitorganizationsarehospitals,colleges,universities,andfoundations.AccountingEducationTrainingnewaccountantsisachallengingandrewardingcareer,andtodayinstructorsofaccountingareingreatdemand.inmanyschoolsholdingtheCPA,CMA,orCIAcertificatewillhelpandinstructortoadvanceprofessionally.Part4Accounts李海紅Revisions1.Professionalethics2.TheclassificationoftheaccountingprofessionAccountsAssets:Cash

NotesReceivable

AccountsReceivable

PrepaidExpenses

Land

Buildings

EquipmentCashCashisthetitleoftheaccountusedtorecordincreasesanddecreasesincash.Cashconsistsofmoneyoranymediumofexchangethatabankwillacceptatfacevaluefordeposit.Cash:coins,currency,checks,postalandexpressmoneyorders,moneydepositedinabankorbanks,cashonhand.NotesReceivableApromissorynoteisawrittenpromisetopayadefinitesumofmoneyatafixedfuturedate.AccountsduefromothersintheformofpromissorynotesarerecordedinanaccountcalledNotesReceivable.AccountsReceivableAccountsReceivableisincurredbyCreditSales,orSalesonAccount.CreditsalesincreaseAccountsReceivable.PrepaidExpensesPrepaidInsuranceOfficeSuppliesPrepaidRentStoreSuppliesPrepaidTaxesLandLandaccountisusedtorecordpurchasesofpropertytobeusedintheordinaryoperationsofthebusiness.BuildingsPurchaseofstructurestobeusedinthebusinessarerecordedinanaccountcalledBuildings.Althoughabuildingcannotbeseparatedfromthelanditoccupies,itisimportanttomaintainseparateaccountsforthelandandthebuildings.EquipmentOfficeEquipment:desks,chairs,officemachines,filingcabinets,andtypewriters.StoreEquipment:cashregisterscounters,showcases,shelves,andsimilaritems.MachineryandEquipment:lathes,drillpressesandotherequipment.TrucksandAutomobiles.Part6LiabilityandOwner’sEquity李海紅RevisionsAssets:Cash

NotesReceivable

AccountsReceivable

PrepaidExpenses

Land

Buildings

EquipmentLiabilityNotesPayableAccountsPayableOtherShort-TermLiabilitiesLong-termLiabilitiesOwner’sEquityCapitalAccountWithdrawalsAccountRevenuesandExpenseNotesPayableNotesPayableistheoppositeofNotesReceivable.Itisusedtorecordincreasesanddecreasesinpromissorynoteamountsowedtocreditorswithinthenextyearoroperatingcycle.AccountsPayableAccountsPayableistheoppositeofAccountsReceivable.ItcomesfromCreditPurchase.OtherShort-TermLiabilityWagesPayableTaxesPayableRentPayableInterestPayableUnearnedFeesCustomerDepositUnearnedRevenueCapitalAccountWhensomeoneinvestsinhisorherowncompany,theamountoftheinvestmentisrecordedinacapitalaccount.WithdrawalAccountApersonwhoinvestsinabusinessusuallyexpectstoearnanincomeantouseatleastpartoftheassetsearnedfromprofitableoperationstopaypersonallivingexpenses.RevenueandExpenseAccountsRevenuesincreaseowner’sequity,andexpensesdecreaseowner’sequity:CommissionsEarnedAdvertisingFeesEarnedWagesExpenseSuppliesExpenseRentExpenseAdvertisingExpenseT-AccountandDouble-EntrySystem李海紅RevisionsAssetsaccountsLiabilitiesaccountsOwner’sEquityaccountsT–accountandDouble-EntrySystemEvolutionofthedouble-entrysystemTheT-account

遼寧對外經(jīng)貿(mào)學(xué)院精品課（高職課）會計英語主講人：李海紅講師

DebitCreditforforDecreaseIncrease

Assets=Liabilities+Owner’sEquity

DebitCreditforforDecreaseIncrease

DebitCreditforforIncreaseDecrease?Theaccountingequation?

ThebasicrulesofT-account?Assets=Liabilities+Owner’sEquityJOURNALSandJOURNALIZINGJournals:generaljournal;special-purposejournalJournalizing:theprocessofrecordingtransactionsinajournal.

HExamplesThefollowingtransactionsfortheJoanMillerAdvertisingAgencyhappenedinJanuary:January1.JoanMillerinvested$10,000tostartherownadvertisingagency.January2.Rentedanoffice,payingtwomonth’srent,$800.January5.PurchasedofficeequipmentfromMorganEquipmentfor$3,000,paying$1,500incashandagreeingtopaytherestnextmonth.January6.Purchasedoncreditartsuppliesfor$1,800andofficesuppliesfor$800fromTaylorSupplyCompany.January19.PerformedaservicebyplacingseveralmajoradvertisementforWardDepartmentStores.Thefeeof$2,800isbillednowbutwillbecollectednextmonth.

S

Recordthefollowingtransactionsinthegeneraljournal.January8.Paid$480foraone-yearinsurancepolicywithcoverageeffectiveJanuary1.January9.PaidTaylorSupplyCompany$1,000oftheamountowed.January10.Performedaservicebyplacingadvertisementsforanautomobiledealerinthenewspaperandcollectedafeeof$1,400.HomeworkJanuary12.Paidthesecretarytwoweeks’wages,$600.January15.Accepted$1,000asanadvancefeeforartworktobedoneforanotheragency..January25.JoanMillerwithdrew$1,400fromthebusinessforpersonallivingexpenses.January26.Paidthesecretarytwomoreweeks’wages,$600.January29.Receivedandpaidtheutilitybillof$100.January30.Received(butdidnotpay)atelephonebill,$70.GeneralJournalDateDescriptionPost.Ref.DebitCredit

1113112023Jan.1Cash

$10,000$10,000JoanMiller,CapitalInvestmentinbusinessDateDescriptionPost.Ref.DebitCredit

2023Jan.2PrepaidRentCashPaidtheofficerentinadvance117111$800$800DateDescriptionPost.Ref.DebitCredit

2023Jan.19AccountsReceivableAdvertisementFeesEarnedRevenueearned,tobecollectedlater113411$4,200$4,200DateDescriptionPost.Ref.DebitCredit

2023Jan.5OfficeEquipmentCash

AccountsPayablePartialpaymentofofficeequipment146111212$3000$1,500$1,500DateDescriptionPost.Ref.DebitCredit

2023Jan.6ArtSuppliesOfficeSupplies

AccountsPayablePurchaseofsuppliesoncredit115116212$1,800$800$2,600DateDescriptionPost.Ref.DebitCredit

YearMonthDayThenameoftheaccountsdebitedand

creditedAbriefexplanationofthetransactionsDebitamountCreditamountRevisions1.Posting2.LedgersTheTrialBalanceTheequalityofdebitandcreditbalancesintheledgershouldbetestedperiodicallybypreparingatrialbalance.Thestepsinpreparingatrialbalancefollow:1.Determinethebalanceofeachaccountintheledger.2.Listeachledgeraccountthathasabalance,withthedebitbalancesintheleftcolumnandthecreditbalancesintherightcolumn.Accountsarelistedintheordertheyappearintheledger.3.Addeachcolumn.4.Comparethetotalsofeachcolumn.JoanMillerAdvertisingAgencyTrialBalanceJanuary31,2023CashAccountsReceivableArtSuppliesOfficeSuppliesPrepaidRentPrepaidInsuranceArtEquipmentOfficeEquipment$1,7202,8001,8008008004804,2003,000AccountsPayableUnearnedArtFeesJoanMiller,CapitalJoanMiller,WithdrawalAdvertisingFeesEarnedOfficeWagesExpenseUtilityExpenseTelephoneExpense1,4001,20010070$3,1701,00010,0004,200TheMeasurementofBusinessIncomeNetIncomeNetincomeisthenetincreaseinowner’sequityresultingfromtheoperationsofthecompany.Netincome,initssimplestform,ismeasuredbythedifferencebetweenrevenuesandexpenses:Netincome=revenues-expensesRevenues:inthesimplestcase,theyequalthepriceofgoodssoldandservicesrenderedduringperiodoftime.Expenses:expensesarethecostsofthegoodsandservicesusedupinthecourseofgainingrevenues.Oftencalledthecostofdoingbusiness,expensesincludethecostsofgoodssold,thecostsofactivitiesnecessarytocarryonthebusiness.TheAdjustment1.Apportioningrecordedexpensesbetweentwoormoreaccountingperiods.(deferrals)

PrepaidRent

PrepaidInsurance

ArtSuppliesandOfficeSupplies

DepreciationofPlantandEquipment2.Apportioningrecordedrevenuesbetweentwoormoreaccountingperiods:UnearnedartfeesPrepaidRentRentExpense400PrepaidRent400PrepaidInsuranceInsuranceExpense40PrepaidInsurance40ArtSuppliesandOfficeSuppliesArtSuppliesExpense500ArtSupplies500OfficeSuppliesExpense200OfficeSupplies200DepreciationofPlantandEquipmentDepreciationExpense,ArtEquipment70AccumulatedDepreciation,ArtEquipment70DepreciationExpense,O