财务会计第六章答案 毕晓方Word文档下载推荐.docx
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Rentrevenue30,000
Totalrevenues$5,430,000
Expenses:
Costofmerchandisesold$3,240,000
Sellingexpenses480,000
Administrativeexpenses300,000
Interestexpense47,500
Totalexpenses4,067,500
Netincome$1,362,500
6-7
1.Salesreturnsandallowancesandsalesdiscountsshouldbedeductedfrom(notaddedto)sales.
2.Salesreturnsandallowancesandsalesdiscountsshouldbedeductedfromsalestoyield"
netsales"
(notgrosssales).
3.Deductingthecostofmerchandisesoldfromnetsalesyieldsgrossprofit.
4.Deductingthetotaloperatingexpensesfromgrossprofitwouldyieldincomefromoperations(oroperatingincome).
5.Interestrevenueshouldbereportedunderthecaption“Otherincome”andshouldbeaddedtoIncomefromoperationstoarriveatNetincome.
6.ThefinalamountontheincomestatementshouldbelabeledNetincome,notGrossprofit.
Acorrectincomestatementwouldbeasfollows:
THEPlautusCOMPANY
FortheYearEndedOCT31,2003
Revenuefromsales:
Sales$4,200,000
Less:
Salesreturnsandallowances$81,200
Salesdiscounts20,300101,500
Netsales$4,098,500
Costofmerchandisesold2,093,000
Grossprofit$2,004,500
Operatingexpenses:
Sellingexpenses$203,000
Transportationout7,500
Administrativeexpenses122,000
Totaloperatingexpenses332,500
Incomefromoperations$1,672,000
Otherincome:
Interestrevenue66,500
Netincome$1,738,500
6-8
a.
NOBLECOMPANY
FortheYearEndedAugust31,2003
Sales$775,000
Salesreturnsandallowances$25,000
Salesdiscounts18,00043,000
Netsales$732,000
Costofmerchandisesold210,000
Grossprofit$522,000
Sellingexpenses$
Administrativeexpenses
Totaloperatingexpenses
Incomefromoperations$
Otherexpense:
Interestexpense
Netincome$
b.Themajoradvantageofthemultiple-stepformofincomestatementisthatrelationshipssuchasgrossprofittosalesareindicated.Themajordisadvantagesarethatitismorecomplexandthetotalrevenuesandexpensesarenotindicated,asisthecaseinthesingle-stepincomestatement.
6-9
a.Cash6,900
Sales6,900
CostofMerchandiseSold4830
MerchandiseInventory4830
b.AccountsReceivable7,500
Sales7,500
CostofMerchandiseSold5625
MerchandiseInventory5625
c.Cash10200
Sales10200
CostofMerchandiseSold6630
MerchandiseInventory6630
d.AccountsReceivable—AmericanExpress7200
Sales7200
CostofMerchandiseSold5,040
MerchandiseInventory5,040
e.CreditCardExpense675
Cash675
f.Cash6875
CreditCardExpense325
AccountsReceivable—AmericanExpress7200
6-10
ItwasacceptabletodebitSales.However,usingSalesReturnsandAllowancesassistsmanagementinmonitoringtheamountofreturnssothatquickactioncanbetakenifreturnsbecomeexcessive.
AccountsReceivableshouldalsohavebeencredited.Inaddition,CostofMerchandiseSoldshouldonlyhavebeencreditedforthecostofthemerchandisesold,notthesellingprice.MerchandiseInventoryshouldalsohavebeendebitedforthecostofthemerchandisereturned.Theentriestocorrectlyrecordthereturnswouldhavebeenasfollows:
Sales(orSalesReturns&
Allowances)235750
AccountsReceivable235750
MerchandiseInventory141450
CostofMerchandiseSold141450
6-11
Ex.6–11
a.$7,350[$7,500–$150($7,500×
2%)]
b.AccountReceivable7,500
SalesDiscounts150
Cash7,350
MerchandiseInventory4500
CostofMerchandiseSold4500
6-12
(1)Soldmerchandiseonaccount,$12,000.
(2)Recordedthecostofthemerchandisesoldandreducedthemerchandiseinventoryaccount,$7800.
(3)Acceptedareturnofmerchandiseandgrantedanallowance,$2,500.
(4)Updatedthemerchandiseinventoryaccountforthecostofthemerchandisereturned,$1,625.
(5)Receivedthebalanceduewithinthediscountperiod,$9405.[Saleof$12,000,lessreturnof$2,500,lessdiscountof$95(1%×
$9,500).]
Ex.6–13
a.$18,000
b.$18,375(18000+375)
c.$540(3%×
$18,000)
d.$17835
6-14
a.$8330[$8500–$170($8500×
2%)]
b.SalesReturnsandAllowances...8500
SalesDiscounts....................170
Cash.........8330
Merchandise Inventory.........800
CostofMerchandiseSold............800
Accountspayable800
Merchandise Inventory.......800
6-15
AB
Listprice $40,000$40300
Lessdiscount800403
$39200$39897
Transportation625
$39825$39897
6-16
(1)Purchasedmerchandiseonaccountatanetcostof$8,000.
(2)Paidtransportationcosts,$175.
(3)Anallowanceorreturnofmerchandisewasgrantedbythecreditor,$1,000.
(4)Paidthebalanceduewithinthediscountperiod:
debitedAccountsPayable,$7,000,andcreditedMerchandiseInventoryfortheamountofthediscount,$140,andCash,$6860.
6-17
a.MerchandiseInventory7500
AccountsPayable7500
b.AccountsPayable1200
MerchandiseInventory1200
c.AccountsPayable6300
Cash6174
MerchandiseInventory126
6-18
a.MerchandiseInventory12000
AccountsPayable—GreenCo.12000
b.AccountsPayable—GreenCo.12000
Cash11760
MerchandiseInventory240
c.AccountsPayable*—GreenCo.2940
MerchandiseInventory2940
d.MerchandiseInventory2,000
AccountsPayable—GreenCo.2,000
e.Cash940
AccountsPayable—GreenCo.940
*Note:
Thedebitof$2940toAccountsPayableinentry(c)istheamountofcashrefundduefromGreenCo.Itiscomputedastheamountthatwaspaidforthereturnedmerchandise,$3,000,lessthepurchasediscountof$60($3,000×
2%).ThecredittoAccountsPayableof$2,000inentry(d)reducesthedebitbalanceintheaccountto$940,whichistheamountofthecashrefundinentry(e).Thealternativeentriesbelowyieldthesamefinalresults.
c.AccountsReceivable—GreenCo.2940
AccountsPayable—GreenCo.2,000
AccountsReceivable—GreenCo.2,940
6-19
a.$10500=(12000-1500)
b.$4160=(4500-500)×
(1-1%)+200
c.$4900=5000(1-2%)
d.$3960=(5000-1000)×
(1-1%)
e.$834=(1500-700)×
(1-2%)+50
6-20
a.Atthetimeofsale
b.$4,000
c.$4280
d.SalesTaxPayable
6-21
a.AccountsReceivable9720
Sales9,000
SalesTaxPayable720
CostofMerchandiseSold6300
MerchandiseInventory6300
b.SalesTaxPayable9175
Cash9175
6-22
a.AccountsReceivable—BawdCo.11500
Sales11500
CostofMerchandiseSold6900
MerchandiseInventory6900
b.SalesReturnsandAllowances900
AccountsReceivable—BawdCo.900
MerchandiseInventory540
CostofMerchandiseSold540
c.Cash10388
SalesDiscounts212
AccountsReceivable—BawdCo.10600
6-23
a.MerchandiseInventory11500
AccountsPayable—SterileCo.11500
b.AccountsPayable—SterileCo.900
MerchandiseInventory900
c.AccountsPayable—SterileCo.10600
Cash10388
MerchandiseInventory212
6-24
a.debit
b.debit
c.credit
d.debit
e.debit
f.debit
6-25
(b)CostofMerchandiseSold
(d)Sales
(e)SalesDiscounts
(f)SalesReturnsandAllowances
(g)SalariesExpense
(j)SuppliesExpense
6-26(没找到)
a.2000:
0.79[$18,928,000,000÷
($32,870,000,000+$14,893,000,000)/2]
1999:
1.02[$12,173,000,000÷
($14,893,000,000+$9,043,000,000)/2]
b.Theseanalysesindicateadecreaseintheeffectivenessintheuseoftheassetstogenerateprofits.ThisdecreaseisprobablyduetoCisco’sacquisitionsofothercompaniesduring2000.However,acomparisonwithsimilarcompaniesorindustryaverageswouldbehelpfulinmakingamoredefinitivestatementontheeffectivenessoftheuseoftheassets.
6-27
a.4.13[$12334353000÷
($2937578000+3041670000)/2]
b.AlthoughWinn-DixieandZalesarebothretailstores,ZalessellsjewelryatamuchslowervelocitythanWinn-Dixiesellsgroceries.Thus,Winn-Dixieisabletogenerate$4.55ofsalesforeverydollarofassets.Zales,however,isonlyabletogenerate$0.96insalesperdollarofassets.Thismakessensewhenoneconsidersthesalesrateforjewelryandtherelativecostofholdingjewelryinventory,relativetogroceries.Fortunately,Zalesisabletocounteritsslowsalesvelocity,relativetogroceries,withhighergrossprofits,relativetogroceries.
6-28
a.andc.
SALESJOURNAL
CostofMerchan-
diseSoldDr.
InvoicePost.Accts.Rec.Dr.Merchandise
DateNo.AccountDebitedRef.SalesCr.InventoryCr.
2003
July0380AdrienneRicht12,0004,000
881K.Smith10,0005,500
1982L.Lao9,0004,000
2683CherylPugh14,0006,500
45,00020,000
(11)(41)(51)(12)
b.andc.
PURCHASESJOURNAL
AccountsMerchandiseOther
PostPayableInventoryAccountsPost.
DateAccountCreditedRef.Cr.Dr.Dr.Ref.Amount
July10HunanRugImporters8,0008,000
12HunanRugImporters3,5003,500
21HunanRugImporters