Unit 4 会计循环 2.ppt

Accounting English Unit Four Vocabulary Unit Four apportion outlay accrue adjusted trial balance reflect equality worksheet facilitate duplication closing entries 分派，分摊 费用，花费；支出 自然增加 调整后试算平衡表 反映 相等 工作表 促进 加倍，重复 结账分录 Learning Objectives Unit Four to prepare adjusted trial balance; to use the worksheet; to close entries; to prepare post-closing trial balance; to understand preparing reversing entries is an optional process. In the previous unit, we described and illustrated the analysis and recording of transactions, posting to the ledger, etc.. In this unit, we complete our discussion of the accounting cycle by making adjustments, preparing a trial balance, preparing financial statements, etc.. Warming-up Unit Four Adjusting Entries 1. Adjusting entries are made at the end of the accounting period, and the purpose of adjusting entries is to ensure the revenues to be recorded in the period in which they are earned and expenses to be recognized in the period in which they are incurred. 2. There are two types of adjusting entries: The accruals include accrued revenues and accrued expenses. The prepayments include prepaid expenses and unearned revenues. Adjusting Entries 1. The prepaid expenses are expenses paid in cash and are recorded as assets before they are used or consumed. 2. The unearned revenues refer to revenues received in cash and recorded as liabilities before they are earned. 3. The accrued revenues indicate revenues earned but not yet received in cash or recorded. 4. The accrued expenses are expenses incurred but not yet paid in cash or recorded. Adjusted Trial Balance After all adjusting entries have been journalized and posted, adjusted trial balance can be prepared from the ledger accounts, and the adjusted trial balance shows all accounts including the adjusted accounts. Statement Preparation The statement