Kinh doanh - Marketing
Kinh tế quản lý
Biểu mẫu - Văn bản
Tài chính - Ngân hàng
Công nghệ thông tin
Tiếng anh ngoại ngữ
Kĩ thuật công nghệ
Khoa học tự nhiên
Khoa học xã hội
Văn hóa nghệ thuật
Sức khỏe - Y tế
Văn bản luật
Nông Lâm Ngư
Kỹ năng mềm
Luận văn - Báo cáo
Giải trí - Thư giãn
Tài liệu phổ thông
Văn mẫu
Giới thiệu
Đăng ký
Đăng nhập
Tìm
Danh mục
Kinh doanh - Marketing
Kinh tế quản lý
Biểu mẫu - Văn bản
Tài chính - Ngân hàng
Công nghệ thông tin
Tiếng anh ngoại ngữ
Kĩ thuật công nghệ
Khoa học tự nhiên
Khoa học xã hội
Văn hóa nghệ thuật
Y tế sức khỏe
Văn bản luật
Nông lâm ngư
Kĩ năng mềm
Luận văn - Báo cáo
Giải trí - Thư giãn
Tài liệu phổ thông
Văn mẫu
Thông tin
Điều khoản sử dụng
Quy định bảo mật
Quy chế hoạt động
Chính sách bản quyền
Giới thiệu
Đăng ký
Đăng nhập
0
Trang chủ
Tài Chính - Ngân Hàng
Kế toán - Kiểm toán
Lecture Financial and managerial accounting (12/e): Chapter 5 – Williams, Haka, Bettner, Meigs
Đang chuẩn bị liên kết để tải về tài liệu:
Lecture Financial and managerial accounting (12/e): Chapter 5 – Williams, Haka, Bettner, Meigs
Thu Hiền
95
22
ppt
Đang chuẩn bị nút TẢI XUỐNG, xin hãy chờ
Tải xuống
Chapter 5 – The accounting cycle: Reporting financial results. When you finish this chapter, you should: Prepare an Income statement, a statement of retained earnings, and a balance sheet; explain how the Income statement and the statement of retained earnings relate to the balance sheet; explain the concept of adequate disclosure;. | Chapter 5 THE ACCOUNTING CYCLE: Reporting Financial Results 2 This is the Adjusted Trial Balance for JJ’s. Now, let’s prepare the financial statements for JJ’s Lawn Care Service for May. 4 Net income also appears on the Statement of Owner’s Equity. 4 Business Earnings Dividends Business Losses This statement summarizes the increases and decreases in Retained Earnings during the period. Statement of Retained Earnings 4 Now, let’s prepare the Balance Sheet. 4 Next, let’s prepare the Statement of Cash Flows for JJ’s Lawn Care Service for May. 4 4 Notes to the Financial Statements Examples of Items Disclosed Lawsuits pending Scheduled plant closings Governmental investigations Significant events occurring after the balance sheet date Specific customers that account for a large portion of revenue Unusual transactions and related party transactions Drafting Notes to the Financial Statements Closing the Temporary Equity Accounts Close Revenue accounts to Income Summary. Close Expense accounts to Income Summary. Close Income Summary account to Retained Earnings. Close Dividends to Retained Earnings. The closing process gets the temporary accounts ready for the next accounting period. 4 Since Sales Revenue has a credit balance, the closing entry requires a debit to the Sales Revenue account. Closing Entries for Revenue Accounts 4 Closing Entries for Revenue Accounts Since expense accounts have a debit balance, the closing entry requires a credit to the expense accounts. Closing Entries for Expense Accounts 4 Closing Entries for Expense Accounts Net Income Since Income Summary has a $400 credit balance, the closing entry requires a debit to Income Summary. Closing the Income Summary Account 4 The balance in Income Summary is now zero. Closing the Income Summary Account Since the Dividends account has a debit balance, the closing entry requires a credit to the Dividends account. Closing the Dividends Account 4 Closing the Dividends Account After all closing entries are made, JJ’s After-Closing Trial Balance looks like this. 4 Did the business earn a profit or loss in the current period? What is the business’s future potential for a profit? Evaluating Profitability Does the business have assets available to pay debts as they are due? Evaluating Solvency Evaluating the Business Are product lines profitable? Are resources being used efficiently? Are production processes efficient? Focusing Management’s Attention Evaluating the Business Monthly Quarterly Jan. 1 Dec. 31 Annually Many companies prepare financial statements at various points throughout the year. Interim Financial Statements Preparing Financial Statements Covering Different Periods of Time 3 End of Chapter 5 4
TÀI LIỆU LIÊN QUAN
Lecture Financial and managerial accounting (4/e): Chapter 14 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 14 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 23 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 23 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 1 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 3 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 4 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 1 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 3 - Wild, Shaw, Chiappetta
Lecture Financial and managerial accounting (4/e): Chapter 4 - Wild, Shaw, Chiappetta
crossorigin="anonymous">
Đã phát hiện trình chặn quảng cáo AdBlock
Trang web này phụ thuộc vào doanh thu từ số lần hiển thị quảng cáo để tồn tại. Vui lòng tắt trình chặn quảng cáo của bạn hoặc tạm dừng tính năng chặn quảng cáo cho trang web này.