专业英语会计学Chap006

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1、MERCHANDISINGACTIVITIESChapter6LearningobjectivesOperatingcycleformerchandisingcompany.Perpetualandperiodicinventorysystem.Transactionformerchandisepurchase,sale.OperatingCycleofaMerchandisingCompany1.Purchaseofmerchandise3.Collectionofthereceivables2.SaleofmerchandiseonaccountCash

2、InventoryAccountsReceivableComparingMerchandisingActivitieswithManufacturingActivitiesMerchandisingCompanyPurchaseinventoryinready-to-sellcondition.ManufacturingCompanyManufactureinventoryandhavealongerandmorecomplexoperatingcycle.RetailersandWholesalersRetailerssellmerchandisedire

3、ctlytothepublic.Wholesalersbuymerchandisefromseveraldifferentmanufacturersandthensellthismerchandisetoseveralretailers.IncomeStatementofaMerchandisingCompanyCostofgoodssoldrepresentstheexpenseofgoodsthataresoldtocustomers.Grossprofitisausefulmeansofmeasuringtheprofitabilityofsalest

4、ransactions.AccountingSystemsRequirementsforMerchandisingCompaniesAlthoughgeneralledgeraccountsprovideusefulinformation,theydonotprovidemuchofthedetailedinformationneededinthedailybusinessoperations.Whoowesusmoney?AccountingSystemsRequirementsforMerchandisingCompaniesControlAccount

5、SubsidiaryLedgersTwoApproachesUsedinAccountingforMerchandiseTransactionsPerpetualInventorySystemPeriodicInventorySystemPerpetualInventorySystemsTheinventoryaccountiscontinuouslyupdatedtoreflectitemsonhand.Let’slookatsomeentries!PerpetualInventorySystemsOnSeptember5,WorleyCo.purchas

6、ed100laserlightsforresalefor$30perunitfromElectronicCityonaccount.PerpetualInventorySystemsOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadios.10´$30=$300PerpetualInventorySystemsCostRetailOnSeptember10,WorleyCo.sold10laserlightsfor$50perunitonaccounttoABCRadi

7、os.PerpetualInventorySystemsOnSeptember15,WorleyCo.paidElectronicCity$3,000fortheSeptember5purchase.PerpetualInventorySystemsOnSeptember22,WorleyCo.received$500fromABCRadiosaspaymentinfullfortheirpurchaseonSeptember10.TakingaPhysicalInventoryInordertoensuretheaccuracyoftheirperpetu

8、alrecords,mostbusinessesta