Exercise 1
1. Objective To implement the accounting of bad debt reserve.
Second, information.
Company M estimates the bad debt loss of accounts receivable through aging analysis. At the beginning of 2007, the credit balance of "bad debt reserve" was 3,500 yuan; Bad debt loss was confirmed in March of that year 1500 yuan; The balance, aging and expected loss rate of accounts receivable on June 5438+February 365438 +0, 2007 are shown in the following table:
Amount: Yuan
Aging of accounts receivable
Accounts receivable balance
Estimated loss rate (%)
Estimated loss amount
undue
120000
0.5
600
Overdue 1 month
80000
1
Eight hundred
2 months overdue
60000
2
1200
3 months overdue
Forty thousand
three
1200
Overdue for more than 3 months
20000
five
1000
Combination plan
320000
4800
On March 4, 2008, the accounts receivable previously written off as bad debts were recovered, amounting to 4,000 yuan.
Third, the requirements
1. Calculate the estimated bad debt loss of accounts receivable at the end of 2007 and fill in the above table.
2. Prepare accounting entries for related businesses in 2007 and 2008.
Answer: 2. March 2007:
Debit: bad debt provision 1 500
Credit: accounts receivable 1 500
At the end of 2007:
Estimated provision for bad debts = 4,800 yuan.
Credit balance of bad debt reserve account =3500- 1500=2000 yuan.
Bad debt reserve =4800-2000=2800 yuan.
Debit: Asset impairment loss-bad debt reserve of 2800 yuan.
Loans: provision for bad debts 2 800
March 4(th), 2008
Debit: 4 000 in the bank.
Loans: 4,000 for bad debts.
Exercise 2
First, the purpose is to implement the ending valuation of inventory.
Second, information.
Company K has four kinds of inventories, A, B, C and D, which belong to two categories: A and B; At the end of 2007, the method of "lower cost or net realizable value" is adopted for pricing. See table 1 for the balance quantity and cost of various inventories at the end of 2007:
Table 1 ending inventory balance quantity cost table amount: yuan
project
Balance Quantity (Pieces)
unit cost
Level a
A commodity
150
1400
Class b goods
90
1700
Class b
C goods
180
1 100
D goods
60
1800
Upon investigation, Company K has signed an irrevocable contract with Jiating Company, stipulating that at the beginning of March 2008, Company K will sell 60 pieces of A/KLOC-0 to Jiating Company at the unit price of 1500 yuan; Sales 120 pieces of c goods, the unit price is 1250 yuan. At present, the market prices of Company K's four commodities A, B, C and D are 1550 yuan, 1400 yuan, 1200 yuan and 1600 yuan respectively. In addition, according to the information provided by the company's sales department, the average sales expenses such as freight incurred in selling C goods to customers are 50 yuan/piece.
Third, the requirements
1. Determine the net realizable value of ending inventory of Company K, and fill in the results in Table 2;
2. Calculate and determine the ending value of K company's inventory at the end of the current period by using single comparison method, classified comparison method and total comparison method respectively, and fill in the results in Table 2;
Table 2 Ending Inventory Value Table Amount: Yuan
project
expense
Net realized value
Single comparison method
Classification comparison method
General comparison method
Level a
detailed list
2 10 000
225 000
2 10 000
stock
153 000
126 000
126 000
Small plan
363 000
35 1 000
35 1 000
Class b
stock
198 000
222 000
198000
stock
108 000
96 000
96 000
Small plan
306 000
3 18 000
306 000
Combination plan
669 000
669 000
669 000
3. According to the results of single comparison method, the relevant accounting entries are prepared by allowance method.
Debit: Asset impairment loss -B Inventory 27 000
-d inventory 12 000
Loan: 39,000 inventory depreciation reserve
Exercise 3
First, briefly describe the users of accounting information and their information needs.
See textbook P2.
2. What is the bank's settlement discipline?
Bank settlement discipline refers to the code of conduct that all units or individuals who handle transfer settlement through banks should abide by in the process of handling specific settlement business. Unified provisions in the payment and settlement system.
(1) Units and individuals are not allowed to make payment and settlement.
1. It is not allowed to issue bills or forward checks without capital guarantee to obtain bank credit.
2. It is forbidden to issue, acquire or transfer bills without real transactions and creditor's rights and debts, and it is forbidden to withdraw funds from banks and others.
3. Unreasonable refusal to pay and arbitrary occupation of other people's funds are not allowed.
4. It is forbidden to open and use accounts in violation of regulations.
(2) Banks are not allowed to handle payment and settlement.
1. You are not allowed to hold tickets or refund tickets at will for any reason, and you are not allowed to intercept or misappropriate the funds of users and other banks.
2. Do not refuse to pay bank notes payable without reason.
3. Unreasonable refusal of payment is not allowed, and late fees are not deducted.
4. It is forbidden to issue short bank drafts, cashier's checks and handle short remittance.
5. Additional conditions shall not be stipulated outside the payment and settlement system, which will affect the smooth remittance road.
6. It is not allowed to open accounts for units and individuals in violation of regulations.
7. Do not refuse to accept or act as an agent for the normal settlement business of other banks.
8, are not allowed to give up the sanctions for violation of settlement discipline.
Intermediate financial accounting unit exercise (2)
Exercise 1
Objective To conduct accounting for long-term equity investment.
Second, information.
65438 On June 2, 2007, Company A bought 25% shares of Company B with 40 million yuan in bank deposit. On that day, the fair value of identifiable net assets of Company B was 6.5438+0.50 million yuan, with a book value of 6.5438+0.7 million yuan, of which the fair value of fixed assets was 20 million yuan, with a book value of 40 million yuan, and it can still be used for 6.5438+00 years, with straight-line depreciation and no residual value; The fair value of other assets is equal to the book value. In 2007, Company B realized a net profit of150,000 yuan, and announced a cash dividend of 8 million yuan at the end of that year. The payment date was April 2, 2008. The accounting policies adopted by both parties are consistent with the accounting period, and income tax is not considered.
Third, the requirements
1. Use the equity method to prepare accounting entries for the equity investment of Company A..
2. Assume that Company A uses the cost method to calculate the equity investment and prepare relevant accounting entries.
Using the equity method: (unit: 10,000 yuan)
(1) Early 2007
Borrow: long-term equity investment of 4 000.
Loan: 4,000 yuan in the bank.
(2) At the end of 2007
The difference between the fair value and book value of fixed assets should be adjusted to increase the depreciation amount = 2000/10-4000/10 =-200 (ten thousand yuan).
Adjusted profit = 1500+200= 1700 (ten thousand yuan)
Share of Company A = 1700*25%=425 (ten thousand yuan)
Accounting treatment for determining investment income
Borrow: Long-term equity investment-profit and loss adjustment 425
Loan: investment income 425
(3) Cash dividend =800*25%=200 (ten thousand yuan)
Debit: Dividend receivable 200
Loan: long-term equity investment-profit and loss adjustment 200
(4) When receiving cash dividends,
Debit: Bank deposit 200
Credit: Dividend receivable 200
Cost method:
(1) Borrow: long-term equity investment of 4,000 yuan.
Loan: 4,000 yuan in the bank.
(2) Debit: Dividend receivable 2 00
Loan: investment income 200
(3) Debit: Bank deposit 200.
Credit: Dividend receivable 200
Exercise 2
Objective To practice the calculation of depreciation of fixed assets.
Second, information.
The original price of a piece of equipment in a company is 100000 yuan, the expected service life is 5 years, and the estimated net salvage value is 4000 yuan.
Third, the requirements
Calculate the depreciation amount of the fixed assets in each year by using the average life method, the double declining balance method and the sum of years respectively (the calculation process is required).
(1) average life method:
Annual depreciation = (100000-4000)/5 =19200 (yuan)
(2) Double declining balance method
age
Initial net value
Annual depreciation
Annual depreciation
accumulated depreciation
Ending depreciation
1
100000
40%
Forty thousand
Forty thousand
60000
2
60000
40%
24000
64000
36000
three
36000
40%
14400
78400
2 1600
four
2 1600
8800
87200
12800
five
12800
8800
96000
4000
(3) Sum of Years Method
age
Total depreciation accrued
Annual depreciation
Annual depreciation
accumulated depreciation
1
96000
5/ 15
32000
32000
2
96000
4/ 15
25600
57600
three
96000
3/ 15
19200
76800
four
96000
2/ 15
12800
89600
five
96000
1/ 15
6400
96000
Exercise 3
Objective To conduct accounting for amortization of intangible assets.
Second, information.
On June 2, 2005, Tengfei Company purchased a patent with a price of 8 million yuan and related expenses of 900,000 yuan. The effective service life of this patent is 8 years, the expected service life of Tengfei Company is 6 years, and the estimated net salvage value is 0, which is amortized by the straight-line method.
On June 5438+February 3, 20061day, due to adverse changes in economic factors related to the patent, impairment may occur. Tengfei Company estimates that the recoverable amount of the patent is 3.75 million yuan, and the original estimated service life remains unchanged.
On February 3, 2007, some factors that originally led to patent impairment were eliminated. By the end of this year, the company expects the net realizable value of the patent to be 3 million yuan.
Third, the requirements
Prepare relevant accounting entries of Tengfei Company from 2005 to 2007 after purchasing the patent right.
Answer:
June 5438, 2005+10/October 2: Purchase of patent right.
(1) Borrow: intangible assets-patent right 890
Loan: bank deposit 890
(2) Amortization in 2005 and 2006.
Debit: management fee 148
Loan: cumulative amortization 148
(3) The book value of intangible assets is June 65438+February 3, 20061= 890-148 * 2 = 594 (ten thousand yuan).
594-375 = 2 1.9 million yuan
Debit: Asset impairment loss 2 19
Loan: provision for impairment of intangible assets-Patent 2 19
Amortization in 2007 =375/4=94 (ten thousand yuan)
Book value at the end of 2007 = 375-94 = 28 1 (ten thousand yuan) < 300 (ten thousand yuan).
However, the provision for impairment of intangible assets that has been accrued cannot be reversed.
Intermediate financial accounting homework (3)
Exercise 1 (ten thousand yuan)
Company a
Debit: change in fair value of available-for-sale financial assets 15
Accounts payable 350
Inventory depreciation reserve 15
Loan: main business income 180
Taxes payable-VAT payable (output tax) 30.6
Available for sale financial assets-cost 15
Non-operating income-debt restructuring profit 154.4
Debit: the main business cost is 200.
Credit: inventory goods 200
Company b
Debit: Transactional Financial Assets _ Cost 30
Goods in stock 180
Bad debt provision 105
Taxes payable _ VAT payable (input tax) 30.6
non-business expenditure
Credit: accounts receivable 350
Exercise 2
Interest amount of special loan in 2007 =2000*6%= 120 (ten thousand yuan).
In 2007, the general loan interest amount = 800 * 8% * 4/12 = 21.33 (ten thousand yuan).
(1) Calculate the interest expenses that should be capitalized for special loans in 2007.
April 30, 2007-August 3, 20071
Interest income of capitalized special loan deposited in the bank =1500 * 0.25%+1400 * 00.25+100 * 0.25%+900 * 0.25% * 5+300 * 0.25% = 20.
The amount of special loan interest that the company should capitalize in 2007 =120-22 = 98 (ten thousand yuan).
(2) Interest expense of general loans in 2007 should be capitalized.
Weighted average of accumulated capital expenditure =100 * 3/12+240 * 2/12+300 *112 = 90 (ten thousand yuan).
Capitalized interest =90*8%=7.2 (ten thousand yuan)
Expense interest = 21.33—7.2 =14.13 (ten thousand yuan)
Borrow: Construction in progress 105.2
Interest receivable 22
Financial expenses 14. 13
Loan: interest payable 14 1.33.
Exercise 3
Calculate the real interest rate first.
1706 = 2000 *( 1+I)- 10+40 *[ 1-( 1+I)- 10]/I
i=3.79%
1, interest expense calculation table
periodicity
Interest owed
Actual interest expense
Amortization discount
Bond payable amortized cost
2007. 1. 1
1706
2007.7. 1
40
64.66
24.66
1730.66
2008. 1. 1
40
65.59
25.59
1756.25
2008.7. 1
40
66.56
26.56
1782.8 1
2009. 1. 1
40
67.57
27.57
18 10.38
2009.7. 1
40
68.6 1
28.6 1
1838.99
20 10. 1. 1
40
69.70
29.70
1868.69
20 10.7. 1
40
70.82
30.82
1899.5 1
20 1 1. 1. 1
40
7 1.99
3 1.99
193 1.5
20 1 1.7. 1
40
73.20
33.20
1964.7
20 1 1. 12.3 1
40
76.30
36.30
2000
Issue bond
Debit: bank deposit 1706
Bonds Payable-Interest Adjustment 294
Loan: bonds payable-face value 2000.
Interest is accumulated every six months (see the above table for the amount).
Debit: financial expenses
Loan: interest payable 40
Bonds payable-interest adjustment
Borrow: interest payable 40
Loans: bank deposits 40
Maturity debt and interest
Debit: bonds payable-face value 2000.
Interest payable 40
Loans: bank deposits 2040
Exercise 4,
First of all, try to simply explain the difference between the accounting of owner's equity of a company-based enterprise and a sole proprietorship or partnership enterprise.
Answer: Compared with sole proprietorship or partnership, the accounting of owners' rights and interests of corporate enterprises is different: sole proprietorship and partnership are not independent legal entities and bear unlimited joint and several liabilities, so these two types of enterprises do not mention all kinds of reserves before distributing profits, and there is no problem of reflecting the composition of owners' rights and interests in accounting. However, for limited liability companies, the characteristics and legal provisions of independent legal entities have made strict provisions on the composition of owners' rights and interests and the use of equity funds based on the protection of creditors' rights and interests. Accounting must clearly reflect the composition of owners' rights and interests, and provide faith in the formation and use of various rights and interests. Therefore, accounting should not only reflect the total amount of owners' equity, but also reflect the changes of each kind of equity.
Second, the main reason is that the calculation of present value involves many related factors, such as discount period and discount rate. For highly uncertain contingencies, these factors are more difficult to determine.
Details of the disclosure of contingent liabilities are as follows:
1, reasons for the formation of contingent liabilities
2. Expected financial impact of contingent liabilities (if unpredictable, explain the reasons)
3. Possibility of obtaining compensation
Intermediate Financial Accounting Unit Exercise (4)
Exercise 1
Objective To implement income tax accounting.
Second, the information:
Company A actually paid 360,000 yuan in 2007, and the annual taxable income was 300,000 yuan; At the end of the year, the debt interest income was confirmed to be RMB 8,000; Pay a fine of 4000 yuan; The depreciation expense in this year's income statement is 45,000 yuan, and 57,000 yuan should be accrued every year according to the tax law. At the end of the year, the book value of the company's fixed assets was 450,000 yuan, and the book value of tax basis was 540,000 yuan. The opening balance of "deferred income tax assets" and "deferred income tax liabilities" is zero. The pre-tax accounting profit reflected in the income statement of Company A is 65,438+0,000,000 yuan, and the income tax rate is 25%. Suppose the company had no other tax adjustments in that year.
Third, the requirements:
Calculate the following indicators of Company A in 2007 (list the calculation process):
1. Deferred income tax assets or deferred income tax liabilities;
2 taxable income and income tax payable;
3. Income tax expenses for this year calculated by the balance sheet debt method.
Answer:
1, deferred income tax assets = 90,000 * 25% = 22,500 yuan.
2. Taxable income = 1 0,000,000+(360,000-300,000)-8,000+4,000+(45,000-57,000) = 1.344 million yuan.
Income tax payable = 1 344 000*25%=336 000.
3. Debit: income tax expense 3 13 500.
Deferred income tax expense of 22,500
Loan: taxes payable-income tax payable is 336 000.
Exercise 2
First, the purpose is to implement profit distribution accounting.
Second, information.
Company A is invested by Party A, Party B and Party C and the income tax rate is 25%. At the end of 2007, the following economic transactions occurred:
1. At the end of the year, the fair value of available-for-sale financial assets was 3 million yuan and the book value was 2.8 million yuan.
2. The board of directors decided to use the capital reserve of 900,000 yuan for capital increase. The original registered capital of the company is RMB 2,965,438+million, of which A, B and C each account for 1/3. The capital increase procedures have been handled according to regulations.
3. Use the surplus reserve of 4 million yuan to make up for the losses of previous years.
4. Withdraw the surplus reserve of 500,000 yuan.
5. Accepting Company D as a new investor, with the consent of all parties through negotiation, Company D contributed 654.38+0.5 million yuan to acquire 25% shares of Company A. After Company D became a shareholder, the registered capital of the company increased to 40 million yuan.
Third, the requirements:
Prepare accounting entries for the above business of Company A. ..
(1) Debit: changes in fair value of available-for-sale financial assets-200,000.
Loan: capital reserve-other capital reserve of 200,000 yuan.
(2) Debit: the capital reserve is 900,000 yuan.
Loan: paid-in capital-300,000 Australian dollars
——B 300 000
-300 thousand pounds
(3) Debit: the surplus reserve is 4 million.
Loan: profit distribution-undistributed profit of 4,000,000.
(4) Debit: 500,000 yuan in profit distribution.
Loan: the surplus reserve is 500,000 yuan.
(5) Debit: bank deposit 1 500.
Loan: paid-in capital 1 000.
Capital reserve-equity premium 500
Exercise 3
First of all, the purpose is to practice the accounting treatment of accounting error correction.
Second, information.
Jiating Company is a general taxpayer, and the applicable VAT rate is 17%, and the income tax rate is 25%. The statutory surplus reserve is accrued at 10% of the net profit. From June 5, 2007 to February 2007, the company found the following problems in internal audit and asked the accounting department to correct them:
1. On February, 20071day, a batch of low-value consumables purchased by the company were all collected by the administrative department, and the price was 1.5 million yuan, which was mistakenly recorded as fixed assets. By the end of the year, 1.5 million yuan had been depreciated; The Company adopts 50% amortization method for low-value consumables.
2.65438 On June 2, 2006, the company purchased a patent for 2 million yuan, and the amortization period stipulated by the accounting and tax laws was 8 years, but the company did not amortize the patent in 2006.
3. In June, 2006, the company sold a batch of products that met the conditions of sales revenue confirmation. Confirmed revenue150,000 yuan, and its sales cost 1 1 10,000 yuan.
4. On June 65438+1 October 1 2007, the company sold a batch of goods by stages, with a total contract price of 4 million yuan, divided into four years, and collected at the end of each year110,000 yuan; This sales business meets the confirmation conditions of commodity sales income, regardless of the corresponding value-added tax. The accounting entries prepared by the Company are as follows:
Borrow: 2000000 installments.
Loan: inventory goods 2000000.
Third, the requirements:
Analyze the accounting errors in the above business, and prepare corrected accounting entries.
1. Borrow: reusable materials-low-value consumables (inventory) 150000
Loan: fixed assets 150000.
Debit: accumulated depreciation 15000
Loan: management fee 15000.
Borrow: reusable materials-low-value consumables (in use) 150000
Loan: revolving materials-low-value consumables (inventory) 150000
Debit: Management fee is 75,000 yuan.
Borrow: reusable materials-low-value consumables (inventory) 75000.
2. Debit: adjustment of previous year's profit and loss 25
Loan: accumulated amortization 25
Borrow: Taxes payable-Income tax payable 6.25
Credit: Last year's profit and loss adjustment 6.25
Debit: profit distribution-undistributed profit 18.75
Credit: the profit and loss of the previous year was adjusted to 18.75.
Debit: surplus reserve 1.875
Loan: profit distribution-undistributed profit 1.875
3、
Debit: the profit and loss of the previous year was adjusted to 1 1000000.
Loan: goods in stock 1 1000000.
Borrow: taxes payable-income tax payable is 2.75 million yuan.
Loan: adjusted the profit and loss of the previous year by 2.75 million yuan.
Debit: profit distribution-undistributed profit of 8250000.
Loan: Adjust the profit and loss of the previous year by 8,250,000 yuan.
Debit: the surplus reserve is 825,000 yuan.
Loan: profit distribution-undistributed profit is 825,000 yuan.
4. Debit: Long-term receivables 400
Loan: main business income 400
Debit: the main business cost is 200.
Credit: installment payment of 200.
Exercise 4
1. On the confirmation conditions of commodity sales income.
See textbook P257.
2. Briefly explain the meaning and difference between "current management view" and "complete profit and loss view" when compiling the income statement.
See teaching material P305.