Introduction to Financial Accounting Chapter 6.ppt

  1. 1、本文档共32页,可阅读全部内容。
  2. 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. 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. 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)。
查看更多
* On April 25, Mario pays freight charges of $300 for inventory purchased on April 25. On April 30, Mario pays for the units purchased on April 25, less a 2% purchase discount. On October 22, Mario returns 50 defective units from the October 19 purchase. Freight Charges: Under the perpetual system discussed in the chapter, we saw that freight charges are included as an additional cost of inventory. Here we’ll see that under the periodic system, we record these charges in a separate account called Freight-in. Purchase discounts and returns: Under the perpetual system, purchase discounts and purchase returns are recorded as a reduction in inventory cost. Under the periodic system, these transactions are recorded in separate accounts— Purchase Discounts and Purchase Returns. In the perpetual system, we credit purchase returns and purchase discounts to Inventory. The purchase returns and purchase discounts accounts used in the periodic system are referred to as contra purchases accounts. * Comparing Perpetual and Periodic inventory system – Freight charges, Purchase discounts and returns 6-* End of chapter 06 6-* * This chapter is divided into 3 parts Part A: Understanding Inventory and Cost of Goods Sold Part B: Recording Inventory Transactions Part C: Other Inventory Reporting Issues * We report inventory as a current asset in the balance sheet—an asset because it represents a valuable resource the company owns, and current because the company expects to convert it to cash in the near term. At the end of the period, the amount the company reports for inventory is the cost of inventory not yet sold. * In preceding chapters, we dealt mostly with companies that provide a service. Many companies, though, earn revenues by selling inventory rather than a service. Cost of the inventory that was sold during the period is known as Cost of goods sold. * Many companies, earn revenues by selling inventory rather than a service. These companies are either manufacturing or

文档评论(0)

fpiaovxingl + 关注
实名认证
内容提供者

该用户很懒,什么也没介绍

1亿VIP精品文档

相关文档