Accounting I Chapter 17 – Recording Adjusting & Closing Entries for a Partnership.
Closing Entries Chapter 7ir-lib.wilmina.ac.jp/dspace/bitstream/10775/2014/1/20120043.pdf · 7 -2...
Transcript of Closing Entries Chapter 7ir-lib.wilmina.ac.jp/dspace/bitstream/10775/2014/1/20120043.pdf · 7 -2...
Closing Entries Chapter 7
叩切仕訳(第7章)
1. Work Sheet精算表
2. Closing Entries 締切仕訳
3. Post-closing Trial Balance締切後試算表
4. Accounting Cycle会計サイクル
第5章でのAdjustedTrial Balance (修正後残高試算表)の作成の後の会計サイクルでは財務諸表(第8章)へと進む。111買序は違うが第7章では当期の財務諸表が作成され、翌期の会計を始めるための締切仕訳を学ぶ。
7-1 Worksheet精算表
XY Company Worksheet: December 31,2口Ox
Account Title Trial Balance Adjustments Adj TIB Income Balance Sheet Statement
Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr
Cash 2.360 2.360 2.360
Accounts receivable 2.400 2.400 2.400
Inventory 4口D 500 4口口 500 500
Marketable secur比les 460 460 460
Equipment 15.000 15.000 15.000
Accumulated deprec旧t旧n 2.890 230 3.120 3.120
Accounts payable 4.290 4.290 4.290
Income tax payable 520 520 520
Bonds payable 640 640 640
Common stock 4口00 4.000 4口00
Retained earnings 6口口 600 6口口
Sales 45.990 45.990 45.990
Purchases 23.4口D 400 500 23.300 23.300
Salaries expense 6.500 703 7.203 7.203
Travel expense 1.650 1.650 1.650
Interest expense 6.510 520 5.990 5.990
Income tax 250 250 250
58.930 58.930
Depreciat旧nexpense 230 230 230
Prepaid expense 520 520 520
Salaries payable 703 703 703
2.353 2.353 59.863 59.863
Net income 7.367 7.367
Plug number 45.990 45.990 21.240 21.240
Income Statement I mage XY Company
Income Statement (損益計算書)
For the year ended Dec. 31, 200x
Net sales (純売上)
Cost of goods sold (売上原価)
Gross profit (売上総利益)
Operating expenses (営業費)
Salaries expense (給料)
Travel expense (交通費)
Depreciation expense (減価償却費)
Operating profit (営業利益)
Other expense (その他費用)
Interest expense (支払い利息)
Income before income tax (税引前利益)
Income tax (法人税、等)
Net income (当期純利益)
7,203
1,650
230
$45,990
23,300
22,690
9,083
13β07
5,990
7,617
250
$7,367
8alance Sheet Imaae
Assets (資産の部)
Current assets: (流動資産)
Cash (現金)
Marketable securities (有価証券)
Accounts receivable (売借金)
Inventory (在庫)
Prepaid interest
Total current assets
XY Company
Balance Sheet (貸借対照表)
As of December 31, 200x
Liabilities & Eauitv (負債・資本の部)
Current liabilities: (流動負債)
$2,360 I Accounts payable (買借金)
460 I Salaries payable (未払給料)
2,400 I Income tax payable (未払税)
500 I Total current liabilities
520 I Non-current lia刷lities:(長期負債)
6,240 I Bonds payable (社債)
Property, plant & equipment: (有形固定資産) Total liabilities
Equipment (設備) 15,000 I Stockholders' equity: (資本)
Less accumulated depreciation (3,120)
Total property, plant & equipment 11,880
Common stock (普通株)
Retained earnings-beginning (利益剰余金)
Net income (当期純利益)
Total stockholders' equity
Total assets 辰五日 To凶 liabilities& st帥 hold郎 '叩比
$4,290
703
520
5,513
640
6,153
4,000
600
7,367
11,967
$18,120
7 -2 Closing Entries
締切仕訳
After preparing financial statements, accountants must prepare the ledger accounts to record the next period's transactions. This process is called “closing the books", although transferring, summarizing, or clearing might be better labels
• A11 balances in the “temporarv" stockholders' eauitv accounts (revenue and expense accounts) are summarized and transferred to “permanent" stockholders' eauitv account町 RetainedIncome. Closing entries pe斤ormthis transfer
• Result of this transfer creates the retained income balance-end of period, which in turn becomes the retained income-beginning of period for the following fiscal year
• No asset or liability account is affected in this process
A new account called the income summarv account is used, but it is only used for this instant and merely keeps track of the process
この "IncomeSummary"という暫定的な通過勘定を使うということは非常に判りづらい。rpL勘定の残高を直接快etainedEamings"勘定!こ移すJほうが判りやすいと思う。
• Slight variations on this process occur in different companies, but the end result is always the same, revenue and expense account balances are “reset" to zero and net income generated during the period increases retained income
7-2 Closing Entries (2)
切仕訳(2)
Common Stock
I bal 500 bal
。、一
nド一
oiu「Ill1
+ー、一nu
間一切
ou
一
一一凶500 …f
同 5.500
くbegin.bal. >
Salaries expense
bal. 2.0∞| ハUm
oi》-
y-a
p--b
nu-
nu-
A
一
Rent expense
凶 τ高下一Cffice supplies expense
凶 8∞|
Accounts receivable
bal. 1.0∞| ω可
7 -2 Closing Entries (3)
切仕訳(3)
Common Stock
1 bal 500
一一凶 500
くbegin.bal. >
bal
Salaries expense
2.0∞I 2.000 cl国 l叩
bal
Rent expen
市0011.000 closing
Accounts receivable
bal. 1.0∞|
bal 500 1 500 closi叩
Revenue Income summary
closing 5.5
800
Off巴esupplies expense
bal 800 I 800 closing
bal ω可
5.500
1.000
500
8口口
7 -2 Closing Entries (3)
切仕訳(3)
Common Slock
I bal 500 bal 500 I 500 closi叩
一一凶Revenue Income summary
5.500 500 closing
くbegin.bal. > 1.000
500
8口口
bal
Salaries expense
2.0∞I 2.000 cl国 l叩 800 enlries ar
町んomeSumm叫 4.3∞ Renl expense Off巴esupplies expense / Cr. Salaries exp 2口口口
bal closing bal 800 800 closing /1 Renl exp 1口口口
Inleresl exp 500
Accounls receivable Cash Office supplies exp 800
bal bal and 、
Dr. Revenue 5.500
Cr. Income Summary 5.5口口
7-1 Closing Entries (4)
切仕訳(4)
Common Stock
1 bal 500 bal 500 1 500 closing
Retained earnings Revenue Income summary
5口D closing 5.500 2,000 I 5.500
1.200 1.000
1.700 5口D
Salaries expense Accounts payable 8口D
bal closing 800 -closing 1.200
bal
Rent expense
日0011,000 cl国 l時
Off巴esupplies expense
凶 8∞ 8∞ cl国 l時
Accounts receivable
bal. 1.0∞| bal ω可
7 -3 Post-closing Trial Balance
締切後試算表
• After the closing entries, no revenue or expense related accounts has an account balance They were closed
• Also notice that there is no Income Summary account as well
• These account balances are the initial balance to newly start recording the transactions of the following fiscal year
“A" Company
Post-closing Trial Balance
December 31, 20xO
Cash
Accounts receivable
Accounts payable
Common stock
Retained earnings
Dr
$2,000
1,000
$3,000
Cr
$800
500
1,700
$3,000
This becomes;
January 1,
20x 1 ba la nce
e
c
VJ
FUEν一
町白
川サ一
∞計一
向
会一
A『ウー
Accounting Cycle (会計サイクル)is a series of steps taken by the aCGountant to maintain a company's bo豆恒(帳簿)and prepare its financial statements (財務諸表)based on generally accepted accounting principles
仕訳
取引の一一二ノ、
/ 財務諸表
経理概念
経理倫理
精算表 総勘定元帳
ノ決算
仕訳