TAILIEUCHUNG - Lecture Accounting principles (11E): Chapter 5 - Coby Harmon

After completing this chapter you should be able to: Identify the differences between a service and merchandising companies, explain the recording of purchases under a perpetual inventory system, explain the recording of sales revenues under a perpetual inventory system,. and other contents. | Prepared by Coby Harmon University of California, Santa Barbara Westmont College 5-1 5 Accounting for Merchandising Operations Learning Objectives After studying this chapter, you should be able to: [1] Identify the differences between a service and merchandising companies. [2] Explain the recording of purchases under a perpetual inventory system. [3] Explain the recording of sales revenues under a perpetual inventory system. [4] Explain the steps in the accounting cycle for a merchandising company. [5] Distinguish between a multiple-step and a single-step income statement. 5-2 Preview of Chapter 5 Accounting Principles Eleventh Edition Weygandt Kimmel Kieso 5-3 Merchandising Operations Merchandising Companies Buy and Sell Goods Retailer Wholesaler Consumer The primary source of revenues is referred to as sales revenue or sales. 5-4 LO 1 Identify the differences between service and merchandising companies. Merchandising Operations Income Measurement Sales Revenue Less Cost of Goods Sold Not used in a Service business. Equals Gross Profit Cost of goods sold is the total cost of merchandise sold during the period. 5-5 Illustration 5-1 Income measurement process for a merchandising company Less Operating Expenses Equals Net Income (Loss) LO 1 Identify the differences between service and merchandising .

• Kế toán - Kiểm toán
• Lecture Accounting principles
• Accounting principles
• Merchandising operations
• Merchandising companies
• Perpetual inventory system
• A merchandising company
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Accounting information systems
• Fundamental system principles
• Technology based accounting systems
• Accounting information
• Financial accounting
• Managerial accounting
• Managerial cost
• Reporting manufacturing activities
• Accounting cycle
• Completing the accounting cycle
• Classified balance sheet
• Accounting for partnerships
• Partnership form of organization
• Basic partnership accounting