会计学原理23版 英文版课件WildFAP23eCh05PPT.pptx

Accounting for Merchandising Operations;2; C1: Describe merchandise activities and identify income components for a merchandising company.; Service organizations sell time to earn revenue. Examples: Accounting firms, law firms, and plumbing services ;;Reporting Income for a Merchandiser; C2: Identify and explain the inventory asset and cost flows of a merchandising company.;Operating Cycle for a Merchandiser;Inventory Systems;Perpetual systems updates accounting records for each purchase and sale of merchandising ;;; P1: Analyze and record transactions for merchandise purchases using a perpetual system.;Purchases without Cash Discounts;Credit Terms;2/10, n/30; On November 2, Z-Mart purchased $500 of merchandise inventory on account, credit terms are 2/10, n/30.;Trade Discounts; On November 12, Z-Mart paid the amount due on the purchase of November 2.;Payment within Discount Period; On December 2, Z-Mart paid the amount due on the purchase of November 2.;Purchases with Returns and Allowances; On November 5, Z-Mart (buyer) issues a $30 debit memorandum for an allowance from Trex for defective merchandise.; Z-Mart purchases $250 of merchandise on June 1 with terms 2/10, n/60. On June 3, Z-Mart returns $50 of goods before paying the invoice. When Z-Mart pays on June 11, it takes the 2% discount only on the $200 remaining balance.;Purchases and Transportation Costs;Transportation Costs;Purchases and Itemized Costs;;;; P2: Analyze and record transactions for merchandise sales using a perpetual system. ;Accounting for Merchandise Sales;Sales of Merchandise; Z-Mart sold $1,000 of merchandise on credit. The merchandise has a cost basis to Z-Mart of $300. ;Sales Discounts;Z-Mart completes a $1,000 credit sale with terms of 2/10, n/45.;Sales Returns and Allowances;Customer returns merchandise which sold for $15 and cost $9.; Assume that $40 of the merchandise Z-Mart sold on November 12 is defective but the buyer decides to keep it beca