l*****n
发帖数: 82 | |
c*****a
发帖数: 1577 | 2 第一道的答案是d. no yes吧， 不是yes no吧
【在 l*****n 的大作中提到】
: 不懂不懂 求指点～
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c*****a
发帖数: 1577 | 3 第二道答案是b吧
【在 l*****n 的大作中提到】
: 不懂不懂 求指点～
|
l*****n
发帖数: 82 | |
c*****a
发帖数: 1577 | 5 http://www.cpanet.com/cpa_forum/forum_posts.asp?TID=31939
"
Unadjusted balance means you have $300 already sitting in the account before
any year-end adjusting entries. Then, you have to expense the portion of
insurance you have already used.
Step 1: Take $7,200/3 years = 2400/year of insurance expense
Step 2: Expense the insurance that has been used. $2400 x 1/12 = $200.
Step 3: Add $200 to the unadjusted balance in the insurance expense account
and you get $500.
Step 4: Then subtract the $200 from your prepaid insurance account and you
will be left with $7000 adjusted balance." |
c*****a
发帖数: 1577 | 6 A decrease in Accounts Receivable (or any current asset) always increases
income on a cash basis. When Accounts Receivable is decreasing that means
you are bringing in more cash since customers are paying you hence increase
in cash income. Conversely, a decrease in Accrued Expenses (or any current
liability) always decreases cash income. When accrued expenses decreases
that means you are paying off those liabilities with cash hence decrease in
cash income.
To say this another way, a decrease in Accounts Receivables always
overstates (increases) income when looking at income from a cash basis
instead of an accrual basis. Conversely, a decrease in Accrued Expenses
always understates (decreases) income when looking at income from a cash
basis instead of an accrual basis.
**Key point to remember: Whenever you are dealing with the cash flow
statement or cash-basis income, current assets always go in the opposite
direction than current liabilities. If you can remember one (a decrease in
current assets increases cash) then you can derive the other (a decrease in
current liabilities decreases cash)." |
l*****n
发帖数: 82 | 7 恩 但是那个300 应该在上一年就adjust到expense里然后close掉吗？ 因为原有的
unadjed insurance expense7200 也close掉了 所以才没有影响下一年的？ |
B*****m
发帖数: 434 | 8 是应该这么算，可是我有一点不理解的是：
这个是公司的only insurance policy,那应该是旧的到期新的renew，renew的日期开始
是3/1，可为什么到3/31账上还有以前的$300prepaid的呢？也就是说3月份付了两个保
费--一个是原来付过cover到3月底的$300和新renew的第一个月的$200?
谁能给解释下这个问题吗？
before
account
【在 c*****a 的大作中提到】
: http://www.cpanet.com/cpa_forum/forum_posts.asp?TID=31939
: "
: Unadjusted balance means you have $300 already sitting in the account before
: any year-end adjusting entries. Then, you have to expense the portion of
: insurance you have already used.
: Step 1: Take $7,200/3 years = 2400/year of insurance expense
: Step 2: Expense the insurance that has been used. $2400 x 1/12 = $200.
: Step 3: Add $200 to the unadjusted balance in the insurance expense account
: and you get $500.
: Step 4: Then subtract the $200 from your prepaid insurance account and you
|
l**********4
发帖数: 28 | 9 Q2: $300在3月底unadjusted trial balance上，new policy starts at Mar 1st,说明
300属于old policy尚未摊销的部分，在这个quarter需要转入insurance expense。同
时需要摊销new policy一个月的部分(March)，也就是$200，所以这个quarter的
expense是500。new policy摊销了200，so ending balance for prepaid expense is
7000.这道题应该assume no gap or overlap between old and new policies.
Q1: "Compared to accural basis of accounting, the cash basis..." which means
从accural basis net income 出发,推出cash basis net income. This is exactly
the same as Cash Flow Statement operating section,其中的调整项对current
assets是反方向，current liabilities是正方向。题目问"understates" "decrease",
是指正方向，所以选“NO，YES”
【在 l*****n 的大作中提到】
: 恩 但是那个300 应该在上一年就adjust到expense里然后close掉吗？ 因为原有的
: unadjed insurance expense7200 也close掉了 所以才没有影响下一年的？
|
l*****n
发帖数: 82 | 10 请问楼上的mm， 那unadjed insurance expense 7200怎么处理呀 我怎么还没弄懂～～
～～QQ |
l**********4
发帖数: 28 | 11 Here the $7200 prepaid insurance expense in unadjusted trial balance is the
$7200 paid on March 1st. (It is still not adjusted at the end of March).
After you amortize $200, the adjusted ending balane of prepaid insurance
expense becomes $7000.
【在 l*****n 的大作中提到】
: 请问楼上的mm， 那unadjed insurance expense 7200怎么处理呀 我怎么还没弄懂～～
: ～～QQ
|
l*****n
发帖数: 82 | 12 那么为什么insurance expense 不是7200+500呢？？
不好意思哈~ |
l**********4
发帖数: 28 | 13 $7200 is cash prepaid, it goes to prepaid expense, a balance sheet account.
$500 is insurance expense, an income statement account.
【在 l*****n 的大作中提到】
: 那么为什么insurance expense 不是7200+500呢？？
: 不好意思哈~
|
