中级财务会计英文版课后答案(chap2).docVIP

下载本文档

38
0
约 13页
2016-11-24 发布于重庆
举报
版权申诉

中级财务会计英文版课后答案(chap2).doc

1、本文档共13页，可阅读全部内容。
2、原创力文档（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。
5、该文档为VIP文档，如果想要下载，成为VIP会员后，下载免费。
6、成为VIP后，下载本文档将扣除1次下载权益。下载后，不支持退款、换文档。如有疑问请联系我们。
7、成为VIP后，您将拥有八大权益，权益包括：VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
8、VIP文档为合作方或网友上传，每下载1次，网站将根据用户上传文档的质量评分、类型等，对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档

中级财务会计英文版课后答案(chap2)

Exercise 2-4 Requirement 1 Sales price = 100 units x $600 = $60,000 x 70% = $42,000 November 17, 2011 Accounts receivable 42,000 Sales revenue 42,000 November 26, 2011 Cash (98% x $42,000) 41,160 Sales discounts (2% x $42,000) 840 Accounts receivable 42,000 Requirement 2 November 17, 2011 Accounts receivable 42,000 Sales revenue 42,000 December 15, 2011 Cash 42,000 Accounts receivable 42,000 Exercise 7-4 (concluded) Requirement 3 Requirement 1, using the net method: November 17, 2011 Accounts receivable 41,160 Sales revenue (98% x $42,000) 41,160 November 26, 2011 Cash 41,160 Accounts receivable 41,160 Requirement 2, using the net method: November 17, 2011 Accounts receivable 41,160 Sales revenue (98% x $42,000) 41,160 December 15, 2011 Cash 42,000 Accounts receivable 41,160 Interest revenue 840 Exercise 2-7 Requirement 1 Estimated returns = 4% x $11,500,000 = $460,000 Less: Actual returns (450,000) Remaining estimated returns $10,000 To record the actual sales returns Sales returns 450,000 Accounts receivable 450,000 Inventory – estimated returns 292,500 Cost of goods sold ($450,000 x 65%) 292,500 December 31, 2011 To record the estimated sales returns Sales returns 10,000 Allowance for sales returns 10,000 Inventory – estimated returns 6,500 Cost of goods sold ($10,000 x 65%) 6,500 Note: another series of journal entries that produce the same end result would be: To record the actual sales returns Allowance for sales returns 450,000 Accounts receivable 450,000 December 31, 2011 To record the estimated sales returns Sales returns (4% x $11,500,000) 460,000 Allowance for sales returns 460,000 Inventory-estimated returns 299,000 Cost of goods sold (65% x $460,000) 299,000 Exercise 2-7 (continued) Requirement 2 Beginning balance in allowance account $300,000 Add: Year-end estimate 460,000 Less: Actual returns (450,000) Ending balance in allowance account $310,000 Exercis