intermediateaccountingareviewoftheaccountingcycle-資料下載頁
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【導(dǎo)讀】accountingprocess(accountingcycle).journalentries.accounting.(accountingcycle).prepared.Anoldand. accountingdata.Eachtransaction/. equation.anaccount.Assets,expenses,anddividendsare. credits.ofanaccount.Liabilities,capitalstock,retained. debits.earningsaccount.earningsaccount.decreasedbydebits.account.transaction.sales,purchases,cashdisbursements,Post.monstock.equipment..
【正文】 ounts to a zero balance. Closing the Nominal Accounts 253 Revenues Bal. xxx Retained Earnings Beg. Bal. xxx xx Since the revenue account is a nominal account, it is closed at the end of the period to Retained Earnings. The Closing Process Revenues 254 Expenses Bal. xxx The Closing Process Each expense account is credited in order to close the account at the end of the period. Expenses Retained Earnings Beg. Bal. xxx xx Revenues 255 Dividends Bal. xxx The dividends account, which is also nominal, is credited to close out the balance. The Closing Process Expenses Retained Earnings Beg. Bal. xxx Revenues Dividends xx 256 Revenues Retained Earnings is a real account and always carries a balance. Dividends reduce Retained Earnings. The Closing Process Retained Earnings Beg. Bal. xxx Expenses Dividends Net Ine for the period is determined by these two items. 257 (continues) The Closing Process for Rosi, Inc. 258 The Closing Process for Rosi, Inc. (concl.) 259 ? Provides a listing of all real account balances at the end of the closing process. ? The postclosing trial balance is prepared to verify the equality of debits and credits for all real accounts. PostClosing Trial Balance 260 Distinguish between accrual and cashbasis accounting. OBJECTIVE 4 261 Accrual Accounting ? Accrual accounting recognizes revenues as they are earned, not necessarily when cash is received. ? Expenses are recognized as they are incurred, not necessarily when cash is paid. ? Provides a better basis for financial reporting, according to the FASB. 262 CashBasis Accounting ? Cashbasis accounting is focused on cash receipts and cash disbursements. ? Typically used by service businesses, such as CPAs, dentists, and engineers. ? AICPA holds that it is appropriate for small service panies. 263 Discuss the importance and expanding role of puters to the accounting process. OBJECTIVE 5 264 Computers and Accounting ? Many steps of the accounting cycle are performed using puters. ? Typical puterized functions include generating reports and putational analysis. ? The puter will never replace a good accountant! 265 Computers and Accounting ? A recent development in the use of puters in financial reporting is the spread of XBRI. ? Stands for eXtensible Business Reporting Language. ? Is a method of embedding puterreadable tags in financial report documents. ? Allows a pany to download its financial statements into spreadsheets where they can be pared to the financial statements of other panies that have also been downloaded. 266 Chapter 2 The En
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