商务会计英文.ppt

ABC Ltd collected $240,000 cash from customers during the year ending 30 June 2012. It was noted that $40,000 was from sales made in May and June 2011. It was also noted that customers have not paid for sales made in June 2012 that amounted to $30,000 What was the sales amount for the year ended 30 June 2012? What is the amount outstanding from debtor as at 30 June 2012? ABC Ltd paid an annual subscription of $1,200 for a technical book, the delivery of which starts from 1 Oct. 2011 What is the applicable subscription expense for the year ending 30 June 2012? What is the amount of prepayment? Depreciation Calculate the profit or loss given the following revenue and expenses: * Accounting and Business Decisions BUACC 1506 Prepared by Jennifer Lect 4 ” Income Statement” Prepared by Jennifer Chapter 6 Income Statement Four Main Learning Objectives 1.Income Statement 2.Accrual Basis Accounting 4.Presentation of Income Statement 3.Depreciation Mr. Neal Invested $15,000 in Jan. 1 2012 Shoe Store Income Statement ?Reflects the profit for the entity over a specified time period ?Assists users to evaluate past decisions and plan for the future ?Calculates profit by subtracting expense from income transactions for a given period. Income Increases in economic benefits during the reporting period in the form of inflows or enhancements of assets or decreases in liabilities that result in increases in equity, other than those relating to contributions from equity participants income is recognised when: ‘The increase in future economic benefits related to an increase in asset or a decrease of a liability has arisen and can be measured reliably.’ Expense Decreases in economic benefits in the form of outflows or depletions in assets or incurrence of liabilities of the entity, other than thos