09 Financing with debts会计英语课件 复旦大学出版社 叶建芳 孙红星 何瑞丰主.ppt

Chapter 9;Describe the nature, type, and valuation of current liabilities. Explain the classification issues of short-term debt. Identify the criteria used to account for and disclose gain and loss contingencies. Explain the accounting for different types of loss contingencies. Identify various types of bond issues. Describe the accounting valuation for bonds at date of issuance. Apply the methods of bond discount and premium amortization.;(1) Current Liabilities;What is a Liability?;What is a Current Liability?;Balances owed to others for goods, supplies, or services purchased on open account.;Written promises to pay a certain sum of money on a specified future date.;E9-2 (Accounts and Notes Payable) The following are selected 2007 transactions of Sean Astin Corporation.;Sept. 1 - Purchased inventory from Encino Company on account for $50,000. Astin records purchases gross and uses a perpetual inventory system.;Oct. 1 - Issued a $50,000, 12-month, 8% note to Encino in payment of account.;Oct. 1 - Borrowed $50,000 from the Shore Bank by signing a 12-month, zero-interest-bearing $54,000 note.;Amount owed by a corporation to its stockholders as a result of board of directors’ authorization.;Payment received before delivering goods or rendering services;BE9-5 Game Pro Magazine sold 10,000 annual subscriptions on August 1, 2007, for $18 each. Prepare Game Pro’s August 1, 2007, journal entry and the December 31, 2007, annual adjusting entry.;Retailers must collect(代收) sales taxes from customers on transfers of tangible personal property and on certain services and then remit（汇缴） to the proper governmental authority.;BE13-6 Flintstones Corporation made credit sales of $30,000 which are subject to 6% sales tax. The corporation also made cash sales which totaled $19,610 including the 6% sales tax. (a) prepare the entry to record Flintstones’ credit sales. (b) Prepare the entry to record Flintstones’ cash sales.;;Businesses must prepare an income tax return and compute the