會計循環(huán)第七章會計循環(huán)認定應(yīng)該記錄的交易或事項分錄從記帳憑證過帳到分類帳編制未調(diào)整試算表調(diào)整分錄的編制與過帳編制調(diào)整試算表編制財務(wù)報表編制結(jié)帳分錄并過帳編制結(jié)帳后試算表試算基于會計記帳“有借必有貸，借貸必相等〞的平衡原理，就總分類帳的各帳戶金額，檢查分錄與過帳工作有無錯誤的驗證工作試算表日期會計科目借方余額和貸方余額合計試算表——錯誤原因編制試算表時出錯確定帳戶余額時出錯分類帳記錄錯誤試算表——無法發(fā)現(xiàn)的錯誤借貸同時遺漏借貸同時重復(fù)記錄借方或貸方發(fā)生等額錯誤會計記帳基礎(chǔ)收付實現(xiàn)制權(quán)責(zé)發(fā)生制調(diào)整帳項應(yīng)計工程應(yīng)付費用應(yīng)收收入遞延工程預(yù)付費用預(yù)收收入估計工程工作底稿會計科目試算表調(diào)整分錄調(diào)整后試算表損益表工程結(jié)帳分錄結(jié)帳后試算表資產(chǎn)負債表根本財務(wù)報表損益表資產(chǎn)負債表會計帳戶虛帳戶實帳戶結(jié)帳方法帳結(jié)法表結(jié)法REVIEWtheAccountingInformationProcessingSystemFinancialAccountingInformationAccountsAccountsandTransactionRecordingFinancialAccountingInformationPermanentAccountsAssetsLiabilitiesOwners?EquityTemporaryAccountsRevenuesExpensesGains&LossesAccountsAccountsandTransactionRecordingTheAccountingIdentityA=L+OEThebalancesinPERMANENTaccountsarecarriedovertofutureaccountingperiods.A=L+OEThedouble-entrysystemrecordsthechangeinaresource,orobligation,andthereasonfor,orsourceof,thechange.TheAccountingIdentityA=L+OEForexample:Ifmoneyisborrowed,thenCash(anasset)isincreasedandNotesPayable(aliability)isincreased.$250,000isborrowedfromthebank.+$250,000+$250,000TheAccountingIdentityAccountNameDebitCreditAccountNameDebitCreditAccountName

Debit

CreditA=L+OEEachofthepermanentaccountsisaffectedbydebitsandcredits.TheAccountingIdentityASSETS

DebitforIncrease

CreditforDecreaseLIABILITIES

DebitforDecrease

CreditforIncreaseEQUITIES

DebitforDecrease

CreditforIncreaseEachofthepermanentaccountsareaffectedbydebitsandcredits.A=L+OETheAccountingIdentityTheRevenues

accountisaffectedbydebitsandcreditsasfollows:REVENUES

DebitforDecrease

CreditforIncreaseTheIncomeStatementandTemporaryAccountsTheExpenses

accountisaffectedbydebitsandcreditsasfollows:EXPENSES

DebitforIncrease

CreditforDecreaseTheIncomeStatementandTemporaryAccountsTheAccountingCycleDuringAccountingPeriod

Identifytransactionsoreventstoberecorded.

Journalizetransactionsandevents.

Postingfromjournalstoledger.TheAccountingCycleisaseriesofsequentialstepsleadingtothefinancialstatements.Attheendoftheaccountingperiod:Prepareunadjustedtrialbalance.Journalizeandpostadjustingjournalentries.Prepareadjustedtrialbalance.Preparefinancialstatements.Journalizeandpostclosingjournalentries.Preparepost-closingtrialbalance.

Atthebeginningofthenextperiod:Journalizeandpostreversingjournalentries.TheAccountingCycleStep1:IdentifyTransactionsorEventstobeRecordedEventsthatchangeafirm’sresourcesorobligationsarecategorizedintothreecategories:Step1:IdentifyTransactionsorEventstobeRecordedEventsthatchangeafirm’sresourcesorobligationsarecategorizedintothreecategories:Exchangesofresourcesandobligationsbetweenthereportingfirmandoutsideparties.Step1:IdentifyTransactionsorEventstobeRecordedEventsthatchangeafirm’sresourcesorobligationsarecategorizedintothreecategories:Internaleventswithinthefirmthataffectitsresourcesorobligationsbutdonotinvolveoutsideparties.Exchangesofresourcesandobligationsbetweenthereportingfirmandoutsideparties.Step1:IdentifyTransactionsorEventstobeRecordedEventsthatchangeafirm’sresourcesorobligationsarecategorizedintothreecategories:Internaleventswithinthefirmthataffectitsresourcesorobligationsbutdonotinvolveoutsideparties.Exchangesofresourcesandobligationsbetweenthereportingfirmandoutsideparties.Externaleconomicandenvironmentaleventsbeyondthecontrolofthecompany.Step2:JournalizeTransactionsandEventsAchronologicalrecordoftransactionsusingthedebit/creditformatGenerallytwotypesofjournals:Specialjournals-repetitiveentriesGeneraljournal-nonrepetitiveentries OnJanuary1,19X7,CaldwellCompanyborrows$10,000fromthebank. Preparetheappropriatejournalentryfortheabovetransaction.Step2:JournalizeTransactionsandEventsTwoaccountsareaffected:Cashisincreasedby$10,000.NotesPayableisincreasedby$10,000.Step2:JournalizeTransactionsandEventsTwoaccountsareaffected:Cashisincreasedby$10,000.NotesPayableisincreasedby$10,000.Step2:JournalizeTransactionsandEventsTwoaccountsareaffected:Cashisincreasedby$10,000.NotesPayableisincreasedby$10,000.Accountsareusuallynumbered.TheaccountnumbersarereferencesforpostingtotheGeneralLedger.Step2:JournalizeTransactionsandEventsStep3:PostingFromJournalstoLedgerPostingreferstotheprocessofrecordinginformationfromthejournalstotheledger.GeneralJournalandSpecialJournalsInformationisstoredchronologically.Informationisstoredbyaccount.GeneralLedgerandSubsidiaryLedgersPostStep3:PostingFromJournalstoLedgerGeneralLedgerformatisasfollows:StartwiththeentryfromtheGeneralJournal.Step3:ExampleNext,findtheappropriatepageintheGeneralLedgerforCashStep3:ExampleIdentifytheinformationtobepostedtotheGeneralLedgerStep3:ExampleEntertheinformationtobepostedintotheGeneralLedger.Step3:ExampleEntertheinformationtobepostedintotheGeneralLedger.UpdatethebalanceintheGeneralLedgeraccountforcash.Step3:ExampleStep4:PrepareUnadjustedTrialBalanceConsistsofalistingofeachgeneralledgeraccountanditsbalanceattheendofperiod.DebitbalancesinonecolumnandcreditbalancesinanotherServesasaconvenientmeansforcheckingthatthesumofdebitaccountbalancesequalsthesumofcreditaccountbalances.TrialBalance-ExampleTrialBalance-ExampleTheGeneralLedgerisinbalance!DR=CRStep5:JournalizeandPostAdjustingJournalEntriesDeferralsAccrualsOtherAdjustingJournalEntriesStep5:JournalizeandPostAdjustingJournalEntriesDeferralsAccrualsOtherAdjustingJournalEntriesCashflowsthatoccurbeforeexpenseandrevenuerecognition.Theportionthatappliestofutureperiodsisdeferredasaprepaidexpenseorunearnedrevenue.Step5:JournalizeandPostAdjustingJournalEntriesDeferralsAccrualsOtherAdjustingJournalEntriesCashflowsthatoccurafterexpenseandrevenuerecognition.Recordedwhencashistobepaidorreceivedinafutureaccountingperiod.Step5:JournalizeandPostAdjustingJournalEntriesDeferralsAccrualsOtherAdjustingJournalEntriesInclude:Reclassificationsofpermanentaccounts.Estimationsofexpenses.RecognitionofCOGSandinventorylosses.Correctionsoferrors.On12/1/X5,yourcompanypaid$1,200forasix-monthinsurancepolicy.The$1,200wasrecordedasPrepaidInsurance(anasset).

WhatAJEisneededon12/31/X5?AJEsDeferralExampleAJEsDeferralExampleOn12/1/X5,yourcompanypaid$1,200forasix-monthinsurancepolicy.The$1,200wasrecordedasPrepaidInsurance(anasset).

WhatAJEisneededon12/31/X5?Hey,let’schangethesubjectforafewminutes.AJEsAccrualExampleYourcompanypaysitsworkerseveryFriday.Year-end,12/31/X5,fallsonWednesday.Itisestimatedthatemployeeshaveearnedsalariesof$47,250throughWednesdayoftheweekended1/2/X6.WhatAJEisrequiredon12/31/X5?YourcompanypaysitsworkerseveryFriday.Year-end,12/31/X5,fallsonWednesday.Itisestimatedthatemployeeshaveearnedsalariesof$47,250throughWednesdayoftheweekended1/2/X6.AJEsAccrualExampleIknowyou’retired,butweneedtolookatanexampleofotherAJE’sifwearegoingtobeprepared!OtherAJEsExampleJax,Inc.purchasedequipmentonJune30,19X5,thatcost$25,000.Theequipmenthasanestimatedusefullifeof5yearsandnosalvagevalue.Jaxusesstraight-linedepreciation.

WhatAJEisrequiredon12/31/X5?OtherAJEsExampleJax,Inc.purchasedequipmentonJune30,19X5,thatcost$25,000.Theequipmenthasanestimatedusefullifeof5yearsandnosalvagevalue.Jaxusesstraight-linedepreciation.Let’strysomemultiplechoiceexercises!QuestionAcompanyleasesabuildingfor$60,000peryear,payablemonthly.IfrenthasnotbeenpaidforJuly,thejournalentrytorecordtheliabilityonJuly31,includesadebittoa. Cash.b. Owners?Equity.c. RentExpense.d. RentPayable.Acompanyleasesabuildingfor$60,000peryear,payablemonthly.IfrenthasnotbeenpaidforJuly,thejournalentrytorecordtheliabilityonJuly31,includesadebittoa. Cash.b. Owners?Equity.c. RentExpense.d. RentPayable.QuestionAbexCo.leasedequipmenttoanotherfor$1,250permonthonJune1.IfrenthasnotbeenreceivedbyJune30,theadjustingentrymadetoaccruerentonJune30,includesacredittoa. Cash.b. RentExpense.c. RentReceivable.d. RentRevenue.QuestionAbexCo.leasedequipmenttoanotherfor$1,250permonthonJune1.IfrenthasnotbeenreceivedbyJune30,theadjustingentrymadetoaccruerentonJune30,includesacredittoa. Cash.b. RentExpense.c. RentReceivable.d. RentRevenue.QuestionRentColeasescarstoJones,Inc.for$500permonth.OnJune1,RentCoreceived$3,000forsixmonths’rent,andrecordeditwithadebittocashandacredittorentrevenue.TheJune30,adjustmenthasadebittoa. Cash.b. RentRevenue.c. UnearnedRent.d. Owners’Equity.QuestionRentColeasescarstoJones,Inc.for$500permonth.OnJune1,RentCoreceived$3,000forsixmonths’rent,andrecordeditwithadebittocashandacredittorentrevenue.TheJune30,adjustmenthasadebittoa. Cash.b. RentRevenue.c. UnearnedRent.d. Owners?Equity.QuestionOnMay1,KellyCo.paid$2,000rent;$1,000permonthforMayandJune,chargingprepaidrent.TheMay31adjustmentincludesadebitto

a. PrepaidRent.b. RentExpense.c. Cash.d. UnearnedRent.QuestionOnMay1,KellyCo.paid$2,000rent;$1,000permonthforMayandJune,chargingprepaidrent.TheMay31adjustmentincludesadebitto

a. PrepaidRent.b. RentExpense.c. Cash.d. UnearnedRent.QuestionStep6: PrepareAdjustedTrialBalanceIncludesallaccountbalancesafteradjustmentshavebeenposted.Usedtoproducethefinancialstatements.Step7:PrepareFinancialStatementsTheincomestatementisalwayspreparedfirst.Includesthetemporaryaccountbalancesfromtheadjustedtrialbalance.Step7:PrepareFina