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Catégorie :Category: nCreator TI-Nspire
Auteur Author: AlanZhang0119
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 3.34 Ko KB
Mis en ligne Uploaded: 22/10/2024 - 04:37:03
Uploadeur Uploader: AlanZhang0119 (Profil)
Téléchargements Downloads: 1
Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4267505
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 3.34 Ko KB
Mis en ligne Uploaded: 22/10/2024 - 04:37:03
Uploadeur Uploader: AlanZhang0119 (Profil)
Téléchargements Downloads: 1
Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4267505
Description
Fichier Nspire généré sur TI-Planet.org.
Compatible OS 3.0 et ultérieurs.
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Ch4: Need for adjusting entries: make certain that the right amount of revenue/expenses are reported in the income statement 4 Types of Adjusting Entries: Converting assets to expenses Converting liabilities to revenue Accruing unpaid expenses Accruing unrecieved revenue Service can occur earlier than payment, Expense & Accounts Payable Service can occur after payment, Prepaid Expenses (Asset Item) is debited before being adjusted to Expenses Revenue can be earned before payment, Revenue & Accounts Recievable Revenue can be earned after payment, Unearned Revenue (Liability Item) is credited before being adjusted to Revenue Depreciation: (Expense item) Depreciation expense per period is (cost of the asset)/(Estimated useful life) Ex. A fridge is bought for $1000 and is expected to be used for 10 years, then its Depreciation expense is $100 per year. Book value: For an asset: Original cost - any accumulated depreciation Ex. Fridge bought for 1000, used for 3 years, then book value is $700. Ch5: Income Statement Revenue - Expenses = Income before taxes Statement of Retained Earnings Start Balance + NI - Dividends = End Balance Closing Accounts -- Income summary (Equity item) Use the income summary to make revenue and expenses 0 THEN use retained earnings to get rid of income summary If income summary has a positive/credit balance, then Net income is +, so add to retained earnings. debit income summary and credit retained earnings Close dividends to retained earnings Trial Balance: Assets Liabilities Equity Net Income Percentage: NI/Revenue ALSO CALLED NET PROFIT MARGIN Return on Equity = NI/Equity Working Capital = Current Assets - Current Liabilities Current Ratio = Current Assets / Current Liabilities Interim Financial Statements -- Statements that cover other than the fiscal year Ex. Monthly, Quarterly, etc. Ch6 Gross Profit = Sales (Revenue) - COGS Operating expenses: Expenses other than COGS Perpetual VS Periodic Inventory System Perpetual: Transactions recorded immediately When something is sold, Recognize revenue Recognize COGS and reduce Inventory according to COGS If something is lost/shrinkage, Increase COGS and reduce Inventory Periodic: Inventory determined after a certain period When Inventory is bought, cost is debited to "Purchases" rather than Inventory When things are sold, an entry is made to recognize sales revenue, no COGS/Inventory COGS and Inventory is changed after the period Discount 2/10, n/30: 2% discount if paid in first 10 days, full payment due in 30 days NET COST (Assuming discount is taken at purchase): Discount Lost (if didn't get discount) GROSS INVOICE PRICE (Assuming we will take full price): Discounts Taken (if took discount) Transportation Prices to get Inventory is part of COGS, Transportation Prices to Deliver Produce is part of Delivery Expense. Net sales = Sales Revenue - returns - discounts "Sales Returns and Allowances" -- when customer returns (Equity Item, Takes equity down, Debit account) remember to put product back in inventory and reverse COGS COGS: Equity Item, (Expense) when buy inventory, inventory goes up and cash goes down when sell inventory, inventory goes down and COGS goes up Sales Tax: When sell something, if there is 7% sales tax, price is 1000, then customer pays 1070; 1000 goes to sales revenue, 70 goes to sales tax Payable GROSS PROFIT MARGIN: Gross Profit (Revenue - COGS) / Net Sales (Basically revenue after returns and discounts) Made with nCreator - tiplanet.org
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Compatible OS 3.0 et ultérieurs.
<<
Ch4: Need for adjusting entries: make certain that the right amount of revenue/expenses are reported in the income statement 4 Types of Adjusting Entries: Converting assets to expenses Converting liabilities to revenue Accruing unpaid expenses Accruing unrecieved revenue Service can occur earlier than payment, Expense & Accounts Payable Service can occur after payment, Prepaid Expenses (Asset Item) is debited before being adjusted to Expenses Revenue can be earned before payment, Revenue & Accounts Recievable Revenue can be earned after payment, Unearned Revenue (Liability Item) is credited before being adjusted to Revenue Depreciation: (Expense item) Depreciation expense per period is (cost of the asset)/(Estimated useful life) Ex. A fridge is bought for $1000 and is expected to be used for 10 years, then its Depreciation expense is $100 per year. Book value: For an asset: Original cost - any accumulated depreciation Ex. Fridge bought for 1000, used for 3 years, then book value is $700. Ch5: Income Statement Revenue - Expenses = Income before taxes Statement of Retained Earnings Start Balance + NI - Dividends = End Balance Closing Accounts -- Income summary (Equity item) Use the income summary to make revenue and expenses 0 THEN use retained earnings to get rid of income summary If income summary has a positive/credit balance, then Net income is +, so add to retained earnings. debit income summary and credit retained earnings Close dividends to retained earnings Trial Balance: Assets Liabilities Equity Net Income Percentage: NI/Revenue ALSO CALLED NET PROFIT MARGIN Return on Equity = NI/Equity Working Capital = Current Assets - Current Liabilities Current Ratio = Current Assets / Current Liabilities Interim Financial Statements -- Statements that cover other than the fiscal year Ex. Monthly, Quarterly, etc. Ch6 Gross Profit = Sales (Revenue) - COGS Operating expenses: Expenses other than COGS Perpetual VS Periodic Inventory System Perpetual: Transactions recorded immediately When something is sold, Recognize revenue Recognize COGS and reduce Inventory according to COGS If something is lost/shrinkage, Increase COGS and reduce Inventory Periodic: Inventory determined after a certain period When Inventory is bought, cost is debited to "Purchases" rather than Inventory When things are sold, an entry is made to recognize sales revenue, no COGS/Inventory COGS and Inventory is changed after the period Discount 2/10, n/30: 2% discount if paid in first 10 days, full payment due in 30 days NET COST (Assuming discount is taken at purchase): Discount Lost (if didn't get discount) GROSS INVOICE PRICE (Assuming we will take full price): Discounts Taken (if took discount) Transportation Prices to get Inventory is part of COGS, Transportation Prices to Deliver Produce is part of Delivery Expense. Net sales = Sales Revenue - returns - discounts "Sales Returns and Allowances" -- when customer returns (Equity Item, Takes equity down, Debit account) remember to put product back in inventory and reverse COGS COGS: Equity Item, (Expense) when buy inventory, inventory goes up and cash goes down when sell inventory, inventory goes down and COGS goes up Sales Tax: When sell something, if there is 7% sales tax, price is 1000, then customer pays 1070; 1000 goes to sales revenue, 70 goes to sales tax Payable GROSS PROFIT MARGIN: Gross Profit (Revenue - COGS) / Net Sales (Basically revenue after returns and discounts) Made with nCreator - tiplanet.org
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