会计英语第三章复习.ppt

* * * * * * * * * * * * * * * * * Why should adjusting entries be made? Types of adjusting entries Accrued（?‘krud，应计的） Revenues or Accrued Assets Accrued Expenses or Accrued Liabilities Unearned Revenues or Deferred Revenues Prepaid Expenses 1. Apportioning Recorded Costs摊销已记录的成本 Assume that a business paid $3600 on Jan1 for one year’s rent in advance. Prepaid Rent 3600 Cash 3600 At the end of Jan31,$300 had expired or been used up during the period. Rent Expense 300 Prepaid Rent 300 2. Apportioning Recorded Revenue摊销已记录的收入 Assume a monthly magazine publisher collected in advance $4800 from customers for 6 months fees on July 1 Cash 4800 Unearned Subscription Revenue 4800 [s?b‘skr?p?(?)n] n. 捐献；订阅；订金；签署 At the end of July31,1/6 of the publisher’s obligation is fulfilled after magazines are supplied to the subscribers. Unearned Subscription Revenue 800 Subscription Revenue 800 3. Accruing Unrecorded Expenses 应计未记录的费用 Suppose AJ CO. borrowed $100 000 on Dec 31,2004. The loan is for 1 year with interest at 9%.As of Jan 31,2005, AJ has had the benefit of loan for one month and it owes $750 ($100 000*9%/12) Interest Expense 750 Accrued Interest Payable 750 4. Accruing Unrecorded Revenue 应计未记录的收入 Suppose DR CO. has completed 2/3 of service work on May 31. The total amount to be received will be $6000 when the work is complete. Accounts Receivable 4000 (6000*2/3) Accrued Service Revenue 4000 Do adjusting entries go directly to the relative ledger accounts? Prepare a trial balance Trial Balance What is a trial balance? A two-column schedule listing the names and balances of all the accounts in the order in which they appear in the general ledger, the debit balances are listed in the left-hand column and the credit balances in the right-hand column. The total of the two column shoul