acct journal entries and presentation

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yhliuaa
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221157
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acct journal entries and presentation
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2013-05-26 23:58:34
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acct journal entries presentation
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acct journal entries and presentation
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  1. Writing down ivt(LCM)

    • Dr COGS
    • Cr Ivt
    • -A -SE

  2. Acquisition for debt

    • Dr Equipment
    • Cr cash; note payable
    • +A +L

  3. Acquisition for non-cash considerations

    • Dr Equipment
    • Cr cash; common stock; additional paid-in capital
    • +A +SE

  4. Disposal of equipment for a gain, assume depreciation is not updated

    • Dr Depreciation expense
    • Cr Accumulated Dep
    • Dr Accumulated Dep; Cash
    • Cr Equipment; Gain
    • +A +SE

  5. Bonds issued at discount: issuance

    • Dr Cash; Discount on Bonds Payable(XL)
    • Cr Bond Payable(at principle)
    • +A +L

  6. Bonds issued at premium: issuance

    • Dr Cash;
    • Cr Premium on Bonds Payable(L); Bond Payable(at principle)
    • +A +L

  7. Bonds issued at discount: interest payment

    • Dr Interest Expense;
    • Cr Cash; discount on bond payable
    • -A –SE +L

  8. Bonds issued at premium: interest payment

    • Dr Bond Interest Expense; premium on bond payable
    • Cr Cash
    • -A –SE -L

  9. Bonds issued at discount: at maturity

    • Dr Bond Payable
    • Cr Cash
    • -A -L

  10. Bonds issued at premium: at maturity

    • Dr Bond Payable
    • Cr Cash

  11. Early retirement of Bond(discount and gain)

    • Dr Bond Payable
    • Cr Cash; gain(BV-retirement price); Discount on bond payable
    • +SE –L –A

  12. Early retirement of Bond(premium and loss)

    • Dr Bond Payable; Premium on bond payable; loss(retirement price-BV)
    • Cr Cash
    • -SE –L –A

  13. Issuance of stock

    • Dr Cash
    • Cr Preferred stock; Capital in excess of par value, preferred stock; Common stock; Capital in excess of par value, common stock
    • +A +SE

  14. Repurchase of stock

    • Dr Treasury Stock(XSE)(at purchase price)
    • Cr Cash
    • -A –SE

  15. Reissued treasury stock at a price higher than cost(“gain”)

    • Dr Cash
    • Cr Treasury stock(at purchase price); Capital in excess of par value
    • +A +SE

  16. Reissued treasury stock at a price lower than cost(“loss”)

    • Dr Cash; Capital in excess of par value
    • Cr Treasury stock(at purchase price);
    • +A +SE

  17. Dividends on common stock: declaration

    • Dr Retained earnings(SE)
    • Cr Dividends payable
    • -SE +L

  18. Dividends on common stock: payment

    • Cr Dividends payable
    • Cr Cash
    • -A –L

  19. Stock dividends: smaller than <20-25%(record at current market value)

    • Dr Retained Earnings
    • Cr Common Stock, Additional Paid in Capital
    • No change in SE

  20. Stock dividends: smaller than >20-25%(record at par value)

    • Dr Retained Earnings
    • Cr Common Stock
    • No change in SE

  21. Impairment of long-lived asset

    • Dr Loss due to impairment of asset
    • Cr Equipment
    • -A –SE

  22. Impairment of good-will

    • Dr Loss due to impairment of goodwill
    • Cr Goodwill

  23. Acquisition of another company which comes with goodwill

    • Dr Goodwill; Asset
    • Cr Cash

  24. Depletion of natural resources

    • Dr Depletion expense
    • Cr Natural resources
    • -A –SE

  25. Amortization of intangible asset

    • Dr Amortization Expense
    • Cr Intangible Asset
    • -A –SE

  26. Purchase ivt: perpetual

    • Dr Ivt
    • Cr Cash

  27. Purchase ivt: periodic

    • Dr Purchase
    • Cr Cash

  28. Sell ivt: perpetual

    • Dr Cash
    • Cr sales revenue
    • Dr COGS
    • Cr ivt

  29. Sell ivt: periodic

    • Dr Cash
    • Cr Sales Revenue

  30. Sales R&A: perpetual

    • Dr Sales R&A(contra-revenue)
    • Cr Cash
    • Dr Ivt
    • Cr COGS
    • -A –SE

  31. Sales R&A: periodic

    • Dr Sales R&A(contra-revenue)
    • Cr Cash

  32. Purchase R&A: perpetual

    • Dr Cash
    • Cr Ivt
    • No net change in A

  33. Purchase R&A: periodic

    • Dr Cash
    • Cr Purchase R&A

  34. Presentation for double declining account depreciation

    • Date
    • Depreciation expense(for the year)
    • Accumulated depreciation
    • Book value(at the end of the year)

  35. Presentation for note paid in equal installments

    • Payment date
    • Amount of installments
    • Interest expense
    • Reduction of principal
    • Principal

  36. Presentation for note paid at maturity

    • Payment date
    • Interest expense
    • Principal

  37. Presentation for bond amortization schedule

    • Payment date
    • Cash interet
    • Interest expense
    • Effective interest amortization
    • Book value

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