财务会计第六章答案 毕晓方.docx

财务会计第六章答案 毕晓方.docx

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财务会计第六章答案毕晓方

Ex06

6-1

a.$485,000（$250,000+$970,000–$735,000）

b.40%（$485,000÷$1220,000）

c.No.Ifoperatingexpensesarelessthangrossprofit,therewillbeanetincome.Ontheotherhand,ifoperatingexpensesexceedgrossprofit,therewillbeanetloss.

6-2

$15710million（$20946million–$5236million）

6-3

a）purchasesreturnsandallowances,purchasesdiscounts

b）transportation

c）merchandiseavailableforsale

d）merchandiseinventory

6-4

见书

6-5

Netsales

3570000-320000-240000=3010000

Grossprofit

3010000-2142000＝868000

6-6

THEMeridenCOMPANY

IncomeStatement

FortheYearEndedJune30,2003

Revenues:

Netsales$5,400,000

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

IncomeStatement

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

IncomeStatement

FortheYearEndedAugust31,2003

Revenuefromsales:

Sales$775,000

Less:

Salesreturnsandallowances$25,000

Salesdiscounts18,00043,000

Netsales$732,000

Costofmerchandisesold210,000

Grossprofit$522,000

Operatingexpenses:

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

MerchandiseInventory2940

d.MerchandiseInventory2,000

AccountsPayable—GreenCo.2,000

e.Cash940

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

2003

July10HunanRugImporters8,0008,000

12HunanRugImporters3,5003,500

21HunanRugImporters