Chapter3balancesheet会计英语第三章资产负债表

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1、TermsandconceptsChapter31.Anothernameforthebalancesheetis…StatementofOperationsStatementofFinancialPositionStatementofFinancialCondition2.Thebalancesheetheadingwillspecifya…PeriodoftimePointintime3.Thelengthoftimebetweenfinancialreportsisafiscalperiodorfiscalyear.1.Thebalan

2、cesheetpresentsaflowingpictureofthecompany’sfinancialpositionataspecifictime.2.Tangibleassetshavenophysicalexistence,buttheydohavevaluethatmaybringthebusinesshugeprofits.3.Acompanythatborrowsmoneyfromanexternalpartyiscalledacreditor.4.Long-termliabilitiesareobligationsthata

3、businessdoesnotexpecttoliquidatewithinthenormaloperatingcycleoroneyear.5.Retainedearningsreferstothebusiness’scumulativenetincomes.Trueorfalse?Fillintheblankswiththeproperwords.1.Cashincludesbankdeposits,currency,coin,checks,bank_______,andmoney_______,etc.2.Accountsreceiva

4、bleareowedbyacustomerforsalesofservicesormerchandise_______andare_______bycustomerstopayinthefuture.3.Whenasumofmoneyisborrowedbythefirm,a_______isincurred.4.Owners’equityisa_______claimbecausetheclaimsofthe________legallycomefirst.5.Decreasesoftheowners’equityarecausedintw

5、oways:_______ofcashand_______fromunprofitableoperation.6.Abalancesheetsetsforthtwomajorpartsinitsformat:________and________ofthestatement.SelfstudyStudythisSoundandLightbalancesheetandanswerthefollowingquestionsaboutthecompany’sfinancialcondition.1.Istheenterprisesoundlyfin

6、anced?2.Cantheenterprisepayitsbillsontime?3.Shouldtheownersdeclarethemselvesadividend?Ifso,howlargeshoulditbe?OralTask5SoundandLightPtyLtdBalancesheetasatJune301997(inthousandsofdollars)Assets$$CurrentassetCash50Accountsreceivable75Inventory120245Non-currentassetsLand100Fac

7、tory272Accumulateddepreciation(122)250Total495Liabilitiesandequity$$CurrentliabilitiesBankoverdraft30Accountspayable73103Non-currentliablilitiesLandmortgage87Shareholders’equitySharecapital130Retainedprofits175305Total495P51--3.2.3businessenterprisessubdivisionsofowner'sequ

8、ityTheownerwithdrawsbusinessassetsforpersonaluse.Supplementaryexercisesforweek8Sof