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Catégorie :Category: nCreator TI-Nspire
Auteur Author: AlanZhang0119
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 9.12 Ko KB
Mis en ligne Uploaded: 19/12/2024 - 04:57:33
Uploadeur Uploader: AlanZhang0119 (Profil)
Téléchargements Downloads: 3
Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4422330
Type : Classeur 3.0.1
Page(s) : 1
Taille Size: 9.12 Ko KB
Mis en ligne Uploaded: 19/12/2024 - 04:57:33
Uploadeur Uploader: AlanZhang0119 (Profil)
Téléchargements Downloads: 3
Visibilité Visibility: Archive publique
Shortlink : http://ti-pla.net/a4422330
Description
Fichier Nspire généré sur TI-Planet.org.
Compatible OS 3.0 et ultérieurs.
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Ch2 Buying Land, Buildings, etc does not contribute to NI. NI = Revenue - COGS - Expenses A = L + E Ch3 Matching Principle: Expenses are recorded when goods/services are used/recieved Realization Principle: Revenues are recorded when G/S are provided, not necessarily when cash is recieved Interest Earned is part of revenue Ch4 Getting Service before paying: Debit Expense & Credit AP Paying before Getting Service: Debit Prepaid Expenses & Credit Cash/AR Getting the service: Debit Expenses & Credit Prepaid Expenses Provide Service before getting paid: Debit Revenue & Credit AP Get paid before providing service: Debit Cash/AR & Credit Unearned Revenue Providing the Service: Debit Unearned Revenue & Credit 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 - Accumulated depreciation THINGS THAT CAN BE DEPRECIATED ALWAYS HAVE A BALANCE OF THE ORIGINAL COST Ch5 RE = Start Balance + NI - Dividends 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 Journal Entry for Closing Accounts: Revenue (D, -) Income Summary (C, +) Income Summary (D, -) Expense (C, -) COGS IS AN EXPENSE Income Summary (D, -) POSSIBLE THAT THIS IS NEGATIVE, THEN OTHER WAY AROUND Retained Earnings (C, +) Retained Earnings (D, -) Dividends (C, -) Trial Balance: Assets Liabilities Equity Income Statement: Revenue (C) Expenses (D) Statement of Retained Earnings: Beg Balance NI (Dividends) End 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 - COGS Perpetual: Transactions recorded immediately Buying Inventory: Debit Inventory & Credit Cash/AP Selling: Debit Cash/AR & Credit Revenue Reducing Inventory: Debit COGS & Credit Inventory Shrinkage: Debit COGS & Credit Inventory Periodic: Inventory determined after a certain period Buying Inventory: Debit Purchases & Credit Cash/AP Selling: Debit Cash/AR, Credit Sales Revenue End of Period: Debit COGS, Credit Inventory COGS = Beginning Inventory + Purchases - Ending inventory Discount: 2/10, n/30: 2% discount if paid in first 10 days, full payment due in 30 days EQUIVALENT ANNUAL RATE OF RETURN: Ex. 1.25/5, n/30; then = 0.0125/0.9875 * 365/(30-5) Transportation Prices to get Inventory is part of COGS, Transportation Prices to Deliver Product is part of Delivery Expense. Gross Invoice Price (Assuming discount is not taken at purchase): At time of purchase: Debit Inventory & Credit AP (At Original cost) Paying if discount taken: Debit AP & Credit Cash and Discount Net Cost (Assuming discount is taken at purchase): At time of purchase: Debit Inventory & Credit AP (At discount cost) Paying if discount not taken: Debit AP and Loss & Credit Cash 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 Customer Returns: Debit Sales Returns and Allowances & Credit Cash Debit Inventory & Credit COGS to reverse purchase 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 Debit: Cash 1070 Credit: Revenue 1000, Tax Payable 70 Gross Profit Margin = (Sales - COGS)/Sales Ch7 Bank Reconciliation: Outstanding checks: paid by company but not yet deducted in bank. -Bank Deposit in transit: deposit not yet recieved by bank. +Bank Service Charges: service charges by bank -Self NSF checks: money from customer not recieved by bank. -Self Counts as acct recievable by customer Interest earned +Self Misc bank charges -Self Customer Order Department Prepares the sales order upon receipt of a customer order. Credit Department Reviews the customers file and decides whether, and how much, credit should be extended. Shipping Department Ensures that the goods shipped match those ordered by the customer. Billing Department Compares
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Compatible OS 3.0 et ultérieurs.
<<
Ch2 Buying Land, Buildings, etc does not contribute to NI. NI = Revenue - COGS - Expenses A = L + E Ch3 Matching Principle: Expenses are recorded when goods/services are used/recieved Realization Principle: Revenues are recorded when G/S are provided, not necessarily when cash is recieved Interest Earned is part of revenue Ch4 Getting Service before paying: Debit Expense & Credit AP Paying before Getting Service: Debit Prepaid Expenses & Credit Cash/AR Getting the service: Debit Expenses & Credit Prepaid Expenses Provide Service before getting paid: Debit Revenue & Credit AP Get paid before providing service: Debit Cash/AR & Credit Unearned Revenue Providing the Service: Debit Unearned Revenue & Credit 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 - Accumulated depreciation THINGS THAT CAN BE DEPRECIATED ALWAYS HAVE A BALANCE OF THE ORIGINAL COST Ch5 RE = Start Balance + NI - Dividends 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 Journal Entry for Closing Accounts: Revenue (D, -) Income Summary (C, +) Income Summary (D, -) Expense (C, -) COGS IS AN EXPENSE Income Summary (D, -) POSSIBLE THAT THIS IS NEGATIVE, THEN OTHER WAY AROUND Retained Earnings (C, +) Retained Earnings (D, -) Dividends (C, -) Trial Balance: Assets Liabilities Equity Income Statement: Revenue (C) Expenses (D) Statement of Retained Earnings: Beg Balance NI (Dividends) End 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 - COGS Perpetual: Transactions recorded immediately Buying Inventory: Debit Inventory & Credit Cash/AP Selling: Debit Cash/AR & Credit Revenue Reducing Inventory: Debit COGS & Credit Inventory Shrinkage: Debit COGS & Credit Inventory Periodic: Inventory determined after a certain period Buying Inventory: Debit Purchases & Credit Cash/AP Selling: Debit Cash/AR, Credit Sales Revenue End of Period: Debit COGS, Credit Inventory COGS = Beginning Inventory + Purchases - Ending inventory Discount: 2/10, n/30: 2% discount if paid in first 10 days, full payment due in 30 days EQUIVALENT ANNUAL RATE OF RETURN: Ex. 1.25/5, n/30; then = 0.0125/0.9875 * 365/(30-5) Transportation Prices to get Inventory is part of COGS, Transportation Prices to Deliver Product is part of Delivery Expense. Gross Invoice Price (Assuming discount is not taken at purchase): At time of purchase: Debit Inventory & Credit AP (At Original cost) Paying if discount taken: Debit AP & Credit Cash and Discount Net Cost (Assuming discount is taken at purchase): At time of purchase: Debit Inventory & Credit AP (At discount cost) Paying if discount not taken: Debit AP and Loss & Credit Cash 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 Customer Returns: Debit Sales Returns and Allowances & Credit Cash Debit Inventory & Credit COGS to reverse purchase 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 Debit: Cash 1070 Credit: Revenue 1000, Tax Payable 70 Gross Profit Margin = (Sales - COGS)/Sales Ch7 Bank Reconciliation: Outstanding checks: paid by company but not yet deducted in bank. -Bank Deposit in transit: deposit not yet recieved by bank. +Bank Service Charges: service charges by bank -Self NSF checks: money from customer not recieved by bank. -Self Counts as acct recievable by customer Interest earned +Self Misc bank charges -Self Customer Order Department Prepares the sales order upon receipt of a customer order. Credit Department Reviews the customers file and decides whether, and how much, credit should be extended. Shipping Department Ensures that the goods shipped match those ordered by the customer. Billing Department Compares
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