中级财务会计英文版复习提纲1.docx
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中级财务会计英文版复习提纲1.docx
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中级财务会计英文版复习提纲1
Chapter9&10
Property,PlantandEquipment
一、Acuisition
1.购买取得:
purchasepricelessanytradediscount,lesscashdiscountsavailable(现金折扣不计入取得成本,不包括在固定资产的入账价值——享受现金折扣则扣除;若不享受则作为费用)
✓DevonCompanypurchasesamachinewithacontractpriceof$100,000ontermsof2/10,n/30.Thecompanydoesnottakethecashdiscountandincurstransportationcostsof$2,500,aswellasinstallationandtestingcostsof$3,000.Salestaxestotal$5,000onthepurchase.Duringinstallation,uninsureddamagesof$500areincurred.Whatisthecostofthemachine?
Contractprice$100,000
Discountnottaken(2,000)
Transportationcost2,500
Installationandtesting3,000
Salestax5,000
Costofmachine$108,500
•Dr.Machine108,500
•DiscountsLost2,000
•RepairExpense500
•Cr.Cash111,000
•Note:
Thecompanydoesnotincludethe$500damageaspartofthecostofthemachinerybecauseitwasnotanecessarycost.
2.Lump-sumpurchase一揽子采购:
按公允价值分配,记录cost
✓Acompanypays$120,000forlandandabuilding.Thelandandbuildingareappraisedat$50,000and$75,000,respectively.
3.Deferredpayments延期付款:
1)首先比较资产的公允价值(thefairvalueoftheassets)与票据的公允价值(thefairvalueoftheliability)哪个更可靠,record可靠的那个
2)如果二者均没有,则用现值记录。
✓例1OnAugust1,2011DarmowCorporationpurchasedanewmachineonadeferredpaymentbasis.Itmadeadownpaymentof$1,000andwillmakefourmonthlyinstallmentsof$2,500eachbeginningonSeptember1,2011.Thecashequivalentpriceofthemachinewas$9,500.Darmowincurredandpaidinstallationcostamountingto$300.Required:
Preparethejournalentrytorecordtheacquisitionofthemachine.
Cashequivalentprice$9,500
Installationcosts300
Capitalizedcost$9,800
Dr.Machinery9,800
DiscountonNotesPayable1,500
Cr.Cash1,300
NotesPayable10,000
✓例2Acompanypurchasesequipmentbyissuinga$10,000non-interest-bearing5-yearnote.A$2,000paymentwillbemadeattheendofeachyear.Themarketrateforobligationsofthistypeis12%.
Equipment7,210
DiscountonNotesPayable2,790
NotesPayable10,000
4.Issuanceofsecurities:
记录资产公允价值和股票公允价值中更可靠的一个
✓InJanuary2011CordovaCompanyenteredintoacontracttoacquireanewmachineforitsfactory.Themachine,whichhasacashpriceof$215,000,waspaidforasfollows:
Downpayment$55,000
NotepayableinfourequalannualpaymentsstartinginJanuary2012$120,000
600sharesofCordovapreferredstockwithamutuallyagreedvalueof$100pershare(parvalue$100)$60,000
Fairrateofinterestonthenon-interest-bearingnoteis10%.
✓Required
题1.Preparethejournalentrytorecordtheacquisitionofthemachine.
题2.Howwouldyouranswerchange,ifatall,ifthe$215,000cashpricewerenotavailable?
Presentvaluefactorn=4,i=10%3.169865
题1.Thefairvalueoftheassetisconsideredtobethecashpriceof$215,000andthusthemachineisrecordedatthisfairvalue.
Sincea$55,000downpaymentismade,theremaining$160,000hastobeallocatedbetweenthenoteandthepreferredstock.
Inmostsituations,itwouldbeconsideredthatthe10%fairvalueofthenoteshouldtakeprecedenceovertheagreedvalueofthepreferredstock.
Dr.Machinery215,000
DiscountonNotesPayable
($120,000-$95,095.95)24,904.05
Cr.NotesPayable120,000
PreferredStock,$100par
($100x600)60,000
AdditionalPaid-inCapital
onPreferredStock4,904.05
Cash55,000
题2.Ifthe$215,000cashpricewerenotknown,thefairvalueofthenoteandtheagreedvalueofthepreferredstockwouldbeused.
Dr.Machinery[$55,000+($120,000-$24,904.05)
+$60,000]210,095.95
DiscountonNotesPayable24,904.05
Cr.NotesPayable120,000
PreferredStock,$100par60,000
Cash55,000
5.Assetsacquiredbydonation:
政府捐赠与非政府捐赠,均记录其资产的公允价值
6.Exchangeofotherassets(non-monetaryexchange)非货币性交换:
当公允价值和账面价值不同时,要记录gainorloss
1)exchangeofdissimilarproductiveassets非相似生产资产交换
•dissimilarwithoutboot
companyAbuilding
Cost$100,000
Accum.depr.54,000
Fairvalue40,000
companyBequipment
Cost$60,000
Accum.depr.32,000
Fairvalue40,000
记账分录:
companyA
Equipment40,000
Accum.depr.54,000
Loss6,000
Building100,000
记账分录:
companyB
Building40,000
Accum.Depr.32,000
Equipment60,000
Gain12,000
•dissimilarwithboot
companyA
Cost$100,000
Accum.depr.54,000
Fairvalue40,000
Cashreceived5,000
companyB
Cost$60,000
Accum.depr.32,000
Fairvalue35,000
Cashpaid5,000
记账分录:
companyA
Equipment35,000
Accum.depr.54,000
Cash5,000
Loss6,000
Building100,000
记账分录:
companyB
Building40,000
Accum.Depr.32,000
Equipment60,000
Cash5,000
Gain7,000
2)similarproductiveassets
●首先,计算补价,如果补价过大(即≥25%的交换总价值),则按照非相似资产进行
●若补价正常范围内,即是相似资产交换。
再次,判断是收到补价一方还是支付补价一方。
A.收到补价一方:
判断是否FV<BV
a.FV<BV,cost=FV-bootreceivedLoss=FV-BV
b.FV>BV,gain=boot/(boot+FV*(支付补价一方资产的公允价值))x(FV-BV)
cost=BV-bootreceived+gain
B.支付补价一方:
判断是否FV<BV
a.FV<BV,cost=FV+bootpaidLoss=FV-BV
b.FV>BV,cost=BV+bootpaidGainnotrecongnized
二、持有
1.折旧:
如何计提折旧。
四因素(assetcost、servicelife、residualvalue、methodofcostallocation)
1)各种计算折旧的方法
✓assetsinformation
OriginalCost.....…………..$120,000
Dateofpurchase………January1,2012
EstimatedResidualValue...$20,000
Estimatedservicelife....…....…
5years,10,000hours,20,000units
A.Units-of-ProductionMethod
B.Straight-LineMethod
2)Additionaldepreciationmethods
(1).Groupdepreciation
例题:
Acompanypurchasedtencarsfor$20,000each,andtheaverageexpectedlifeis3yearswitharesidualvalueof$5,000each.
i.Torecordthepurchase.
Cars200,000
Cash200,000
ii.Torecordthefirstyear’sdepreciationexpense.
DepreciationExpense50,000
AccumulatedDepreciation50,000(depreciationrate=50,000/200,000=25%)
iii.Thissamedepreciationentrywouldbemadeatintheendofthesecondyear.
iv.Threecarsweresoldafter2yearsfor$8,000each.
Cash24,000
AccumulatedDepreciation36,000
Cars60,000
v.Torecordthethirdyear’sdepreciationexpense.
DepreciationExpense35,000
AccumulatedDepreciation35,000(25%*($200,000–$60,000))
vi.Fivecarsweresoldafter3yearsfor$6,000each.
Cash30,000
AccumulatedDepreciation70,000
Cars100,000
vii.Torecordthefourthyear’sdepreciationexpense.
DepreciationExpense1,000
AccumulatedDepreciation1,000(Toreducethe$11,000bookvaluetothesalvagevalue.)
viii.
ix.Twocarsweresoldafter4yearsfor$4,800each.
Cash9,600
AccumulatedDepreciation30,000
LossonDisposal400
Cars40,000
Bookvalue=$10,000
(Cashreceived=9,600)
Loss$400
(2).Compositedepreciation
例题:
TheBowenCompanypurchasedfourdeliverytrucksonJanuary2,2004for$40,000each.Thecompanyexpectedtwoofthetruckstolast4yearsandhavearesidualvalueof$4,000each.Theothertwotruckshadanexpectedlifeof8yearsandnoresidualvalue.Thecompanyusesstraight-linedepreciationonacompositebasis.
i.Torecordthepurchase.
Trucks160,000
Cash160,000
January5,2007.Anewtruckisacquiredfor$40,000.Ithasanexpectedlifeof4yearsandaresidualvalueof$2,000.
新车进入,需要重新计算折旧率
AssetCostResidualValueLifeDepreciation
2$40,000$4,0004yrs.$9,000
340,000-0-85,000
440,000-0-85,000
New40,0002,00049,500
$160,000$6,000$28,500
3)计提折旧的开始与结束
A.开始:
如果在15号之前购买,则在当月需要计提折旧;如果15号之后购买,从下个月开始计提折旧
B.结束:
如果在15号之前处置,则折旧就提到上一个月;如果15号之后处置,则折旧计提到本月。
4)如果资产购买不是从会计年度的开始(一年的开始),则按照当年使用和下年使用分段计提折旧。
例Acompanypurchasesa$6,000assetwitha3-yearlifeandnoresidualvalueonAugust18.
i.Thefirmusesthesums-of-the-years’-digitsmethodii.Thefirmusesthedouble-declining-balancemethod
5)折旧政策的复核
在选择一个合适的折旧方法后,估计使用年限和残值后再接下来的时间内一直使用。
在一致性或可比性原则下,需要对可使用年限,残值进行复核。
如果出现变化,则估计的使用年限和残值都需要改变。
但是,折旧政策变更只针对现在和未来,不追溯调整之前。
A.
(1).Reviewofusefullifeorresidualvalue
例题Abusinesspurchasedanon-currentassetcosting$12,000withanestimatedlifeof4yearsandnoresidualvalue.Ifitusedthestraightlinemethodofdepreciation,itwouldmakeanannualprovisionof25%of$12,000=$3,000perannum
✓Ifthebusinessdecidedaftertwoyearsthattheusefullifeoftheassethasbeenunderestimated,anditstillhadfivemoreyearsinusetocome.
✓Forthefirsttwoyears,theassetwouldhavebeendepreciatedby$3,000perannum,sothatitnetbookvalueaftertwoyearswouldbe$(12,000-6,000)=6,000.
✓Iftheremaininglifeoftheassetisnowrevisedtofivemoreyears,theremainingamounttobedepreciated(here$6,000)shouldbespreadovertheremaininglife,givinganannualdepreciationchargeforthefinalfiveyearsof:
B.
(2).Reviewofchangeindepreciationmethod
例题JakonCopurchasedanassetfor$100,000on2011Jan.1.Ithadanestimatedusefullifeof5yearsanditwasdepreciatedusingthereducingbalancemethodatarateof40%.On2013Jan.1itwasdecidedtochangethemethodtostraightline.
Required:
Showthedepreciationchargeforeachyear(toDec.31)oftheasset’slife.
Year
Depreciationcharge$
Aggregatedepreciation$
2011
$100,000×40%
40,000
40,000
2012
$60,000×40%
24,000
64,000
2013
($100,000-64,000)÷3
12,000
76,000
2014
12,000
88,000
2015
12,000
100,000
C.depletion折耗(关于自然资源的折旧)记录折耗一般用工作量法
a.
例题Acompanypurchaseslandfor$3,000,000fromwhichitexpectstoextract1,000,000tonsofcoal,theestimatedresidualvalueis$200,000,anditmines80,000tonsofcoalin2011.
减少了naturalcost,形成inventory.
分录:
Drinventory
CrAccumulatedDepletion(或者asset)
b.当其他的资本性支出发生,折耗政策也要发生复核,计算新的折耗率
例题Acompanypurchaseslandfor$3,000,000fromwhichitexpectstoextract1,000,000tonsofcoal,theestimat
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