上海海事外國會計選讀chapter11課件

Chapter11CurrentLiabilities1.CurrentLiabilities2.ContingentLiabilities3.EmployerLiabilitiesforPayroll4.EmployeeFringeBenefitContentsDefinitionLiabilities負債areonecompany’sobligationstopaycashortoprovidegoodsandservicestoothercompaniesorindividualsClassificationCurrentliabilities流動負債andLong-termliabilities長期負債LiabilitiesinPerspectiveTheNatureofCurrentLiabilitiesTwoissuesinmeasuringliabilities:TheexistenceoftheliabilityTheamountoftheliabilityTypesofcurrentliabilitiesDeterminablecurrentliabilities:existenceandamounttobepaidareprescribedbywrittenorimpliedcontracts.CurrentliabilitiesdependentonoperatingresultsContingenciesPresentationonthebalancesheetDivideintocurrentliabilitiesandling-termliabilitiesCurrentportionofthelong-termobligationsasapartofthecurrentliabilitiesPresentationofCurrentLiabilitiesShort-TermNotesPayableNotesissuedwhenmerchandiseorotherassetsarepurchasedortosatisfyanaccountpayablecreatedearlierInterest-bearingnote帶息票據(jù)ornon-interest-bearingnote非帶息票據(jù)Notespayableisreportedatitsfaceamountin“Notespayable”accountInterestsincurredarerecordedin“interestexpense”accountNotesissuedwhenmoneyisborrowedfrombanksDescription Debit CreditAccountsReceivable 10,000 Sales 10,000CostofMdse.Sold 7,500 Mdse.Inventory 7,500BowdenCo.(Borrower)CokerCo.(Creditor)May31.BowdenCo.issueda60-day,12%notefor$10,000toCokeronaccount.AccountsPayable 10,000 NotesPayable 10,000NotesReceivable 10,000 AccountsReceivable 10,000Mdse.Inventory 10,000 AccountsPayable 10,000CokerCo.(Creditor)Description Debit CreditAccountsReceivable 10,000 Sales 10,000CostofMdse.Sold 7,500 Mdse.Inventory 7,500Short-TermNotesPayableDescription Debit CreditMdse.Inventory 10,000 AccountsPayable 10,000AccountsReceivable 10,000 Sales 10,000CostofMdse.Sold 7,500 Mdse.Inventory 7,500BowdenCo.(Borrower)CokerCo.(Creditor)Description Debit CreditJuly30.BowdenCo.paidCokerCo.theamountdueonthenoteofMay31.Interest:$10,000x12%x60/360=$200.AccountsPayable 10,000 NotesPayable 10,000NotesReceivable 10,000 AccountsReceivable 10,000NotesPayable 10,000InterestExpense 200 Cash 10,200Cash 10,200 InterestRevenue 200 NotesReceivable 10,000Short-TermNotesPayableDiscountedNotesPayableSometimesaborrowerwillissuetoacreditoradiscountednoteratherthananinterestbearingnote.Nointerestrateisspecifiedinthenote,butthecreditorsetarateofinterestanddeductstheinterestfromthefaceamountofthenote.Theinterestiscalleddiscount.Therateusedincomputingthediscountiscalledthediscountrate.Theborrowerisgiventheremainder,calledtheproceeds貼現(xiàn)收入.DiscountedNotesPayableNov. 8 NotesPayable 2000000Paidnotedue.Cash 2000000OnNovember8thenoteispaidinfull.Long-termliabilitiesareoftenpaidbackinperiodicpayments,calledinstallments.Long-termliabilityinstallmentsthatareduewithinthecomingyearmustbeclassifiedasacurrentliability.Thetotalamountoftheinstallmentsdueafterthecomingyearisclassifiedasalong-termliability.

Fiscalyearending

2003 $710,0002004 722,000 2005 735,000 2006 748,000 2007 762,000Thereafter 2,109,000 Totalprincipalpayments $5,786,000

CurrentPortionofLong-termDebtContingentLiabilities或有負債ProductLiabilityOnJune30,acompanysellsaproductfor$60,000onwhichthereisa36-monthwarrantyforrepairsdefects.Pastexperienceindicatesthatrepairsofdefectscost5%ofthesalespriceoverthewarrantyperiod.June30 ProductWarrantyExpense 300000WarrantyexpensesprojectedforJune,5%of$60,000.ProductWarrantyLiability 300000OnAugust16,acustomerneededadefectivepartreplaced.Costtothecompanywas$200forthepart.Aug. 16 ProductWarrantyPayable 20000Replaceddefectivepartunderwarranty.Supplies 20000ProductLiability…eBaywasservedwithalawsuit…filedonbehalfofapurportedclassofeBayuserswhopurchasedallegedlyforgedautographedsportsmemorabiliaoneBay.ThelawsuitclaimseBaywasnegligentinpermittingcertainnamed(andotherunnamed)defendantstosellallegedlyforgedautographedsportsmemorabiliaoneBay.ManagementbelievesthattheultimateresolutionofthesedisputeswillnothaveamaterialadverseimpactoneBay’sconsolidatedfinancialpositions,resultsofoperations,orcashflows.----eBayInc.ContingentLiabilityAccountingTreatmentofContingentLiabilitiesLikelihoodofOccurringMeasurementAccountingTreatmentProbableEstimableRecordLiabilityNotEstimableDiscloseLiabilityDiscloseLiabilityContingencyPossiblePayrollPayrollPayroll薪酬istheamountpaidtoemployeesforservicesprovided.EmployerliabilitiesforpayrollincludeLiabilitiesarisingfromemployeeearningsGrosspay:Salary,wage,overtimepay,allowance,commissions,bonusetcSalary:referstopaymentformanagerial,administrativeorsimilarservices.Therateifsalaryisnormallyexpressedintermsofamonthorayear.Wages:referstopaymentformanuallabor,bothskilledandunskilled.Therateofwagesisnormallystatedonanhourlyorweeklybasis.Deductionsfromearning:FICAtax,withholdingtaxandotherdeductionsFICATaxEmployersarerequiredtowithholdaportionoftheearningsofeachoftheemployees.TheamountismatchedbytheemployerandservestoprovidetheemployeewithsocialsecurityandMedicarebenefitsuponretirement.Earningssubjectto6%socialsecuritytax ($100,000–$99,038) $962 Socialsecuritytaxrate x6%Socialsecuritytax $57.72 FICATaxCalculationAssumethatJohnT.McGrath’sannualearningspriortothecurrentperiodtotal$99,038.Hiscurrentperiodearningsare$1,462.Earningssubjectto1.5%Medicaretax Currentearnings $1,462 Medicaretaxrate x1.5% Medicaretax 21.93TotalFICAtax $79.65RecordingEmployees’EarningsDec.27 SalesSalariesExpense ******* OfficeSalariesExpense *******PayrollfortheperiodSocialSecurityTaxPayable ******MedicareTaxPayable ******EmployeesFederalInc.TaxPay. ******RetirementSavingsDed.Payab