ch11-2010原书第五版~PPT~!.pptVIP

CHAPTER 11 LIABILITIES 负债 Study Objectives Current liability Accounting for notes payable Bonds and the types of bonds. Entries for the issuance of bonds and interest expense Accounting for long-term notes payable CURRENT LIABILITIES 流动负债 A Current Liability is a debt that can reasonably be expected to be paid: from existing current assets or in the creation of other current liabilities and within one year or the operating cycle, whichever is longer CURRENT LIABILITIES Current liabilities include: Notes Payable 应付票据 Accounts Payable 应付账款 Unearned Revenues 预收款 Accrued Liabilities 应计负债 NOTES PAYABLE 应付票据 Notes Payable are obligations in the form of written promissory notes that usually require the borrower to pay interest. Notes payable may be used instead of accounts payable because it supplies documentation of the obligation in case legal remedies are needed to collect the debt. Notes due for payment within one year of the balance sheet date are usually classified as current liabilities SALES TAXES PAYABLE 应付销售税 Sales tax is expressed as a stated percentage of the sales price on goods sold to customers by a retailer The retailer (or selling company) collects the tax from the customer when the sale occurs, and periodically (usually monthly) remits the collections to the state’s department of revenue Thus, the retailer serves as a collection agent for the taxing authority SALES TAXES PAYABLE When sales taxes are not rung up separately on the cash register, total receipts are divided by 100% plus the sales tax percentage to determine the sales, and the difference is sales tax If Cooley Grocery “rings up” total receipts, which are $10,600, and the sales tax percentage is 6%, we can figure sales as follows: SALES TAXES PAYABLE In China, sale tax rate is 17%. When you bought goods in supermarket, you paid $1170. For the supermarket, sales revenue is: 1170 / (1+17%) =1000 Sales tax = 1170 – 1000 =170 PAYROLL AND PAYROLL TAXES PAYABLE 工资及相关的税 The term payroll工