会计学原理英文3.pptVIP

Chapter 3;Business Background; Learning Objectives;The Operating Cycle;The Time Period Assumption;The Time Period Assumption; Learning Objectives;Elements on the Income Statement;Elements on the Income Statement;; Learning Objectives;A = L + SE;; Learning Objectives;Two Accounting Systems;Cash Basis Accounting;Assets, liabilities, revenues, and expenses should be recognized when the transaction that causes them occurs, not necessarily when cash is paid or received.;Accrual Basis Accounting;Revenue Principle;Revenue Principle – Case 1;Revenue Principle – Case 2;Revenue Principle;Revenue Principle – Case 3;Revenue Principle – Case 3;Revenue Principle;Matching Principle;Matching Principle – Case 1;Matching Principle – Case 2;Matching Principle – Case 2;Matching Principle – Case 3;Matching Principle – Case 3;Matching Principle;Analyzing Papa John’s Transactions;Identify Classify the Accounts 1. Cash (asset) 2. Franchise fee revenue (revenue) 3. Unearned franchise fees (liability);(a) Papa John’s sold franchises for $400 cash. The company earned $100 immediately. The rest will be earned over several months.;Identify Classify the Accounts 1. Cash (asset) 2. Restaurant sales revenue (revenue) 3. Cost of sales- restaurant (expense) 4. Inventories (asset);(b) The company sold $36,000 of pizzas for cash. The costs of the pizza ingredients for those sales were $9,600.;(c) In January, Papa John’s paid $7,000 for utilities, repairs, and fuel for delivery vehicles, all considered general and administrative expenses.;(d) Papa John’s ordered and received $29,000 in supplies, paying $9,000 in cash and owing the rest on account to suppliers.;(e) Papa John’s paid $14,000 cash to employees for their work in January.;(f) At the beginning of January, Papa John’s paid the following: $2,000 for insurance covering the next four month beginning January 1, $6,000 for renting space in shopping centers over the next three months beginning January 1, and