Cash and receivables

　　? Bank reconciliation – JE 總結

　　1. Bank collections:

　　Dr: Cash

　　Cr: AR/sales revenue/service revenue (取決于具體題目)

　　2. EFT receipts:

　　Dr: Cash

　　Cr: AR/sales revenue/service revenue (取決于具體題目, 與 bank collection 很像)

　　3. Interest income(revenue)

　　Dr: Cash

　　Cr: Interest income/revenue

　　4. EFT payments – 通常是一些 operating expense

　　Dr: Expense (取決于具體 expense)

　　Cr: Cash

　　5. Service charges:

　　Dr: Service charge expense/bank charge expense

　　Cr: Cash

　　6. NSF cheques:

　　Dr: Accounts receivable

　　Cr: cash

　　7. Book s – 具體情況具體討論，無法套用，請仔細讀題。

　　? Record receivables

　　1. AR:

　　Dr: AR

　　Cr Sales/Service revenue

　　2. Note receivable

　　Dr: Note receivables

　　Cr: Cash/Revenue/AR

　　? Allowance

　　1. Record uncollectible account expense

　　Dr Uncollectible-account expense

　　Cr Allowance for uncollectible Accounts

　　2. Write off uncollectible accounts

　　Dr Allowance for Uncollectible Accounts

　　Cr Accounts Receivable – Customer A

　　Cr Accounts Receivable – Customer B

　　3. Recovery:

　　I.

　　Reinstate the AR:

　　Dr Accounts receivable

　　Cr Allowance for uncollectible accounts

　　II.

　　Record the collection of cash:

　　Dr Cash

　　Cr Accounts receivable

　　? Note receivables

　　1. Record:

　　Dr: Note receivables

　　Cr: Cash/Revenue/AR

　　2. Accrue interest at year end

　　Dr: Interest receivables

　　Cr: interest revenue

　　3. Maturity

　　Dr: Cash

　　Cr: Note receivables

　　Cr: Interest receivable

　　Cr: Interest revenue

　　? How to speed up cash flow

　　1. Credit card sales (允許客戶用信用卡付款)

　　Dr: Cash

　　Dr: Financing expense ( of revenue 作為手續費)

　　Cr: Sales revenue

　　2. Debit card sales (允許客戶用借記卡付款)

　　Dr: Cash

　　Dr: Interac fee (fee)

　　Cr: Sales revenue

　　3. Sell receivables to another business (把 receivables 賣給別的公司)

　　Dr: Cash

　　Dr: Financing expense

　　Cr: Accounts receivables/note receivables

　　Inventory and cost of goods sold

　　Journal Entry

　　? Closing entries to record COGS – Periodic method

　　Dr: COGS

　　Dr: Inventory, ending

　　Dr: Purchase allowance

　　Dr: Purchase returns

　　Dr: Purchase discount

　　Cr: Purchases

　　Cr: Freight-in

　　Cr: Inventory, beginning

　　? Other entries – related to sales

　　1. Record sales return

　　Dr: Sales return

　　Cr: AR

　　Dr: Inventory

　　Cr: COGS

　　? Inventory write off (if NRV < Cost)

　　Dr: COGS

　　Cr: Inventory

　　PPE and intangible assets

　　? Record assets

　　Dr: PPE

　　Cr: Cash/Note payable

　　? Record depreciation expense

　　Dr: Depreciation expense

　　Cr: Accumulated depreciation

　　? Record disposal of PPE

　　Dr: Accumulated depreciation

　　Dr: Loss on disposal

　　Cr: PPE

　　? 如果是 sale of PPE → 計算 Gain/Loss on sale of PPE = Sales proceeds – carrying amount

　　? Record impairment loss

　　Dr: Loss on impairment

　　Cr: Accumulated depreciation

　　? Revaluation model: write up asset

　　Dr: PPE

　　Cr: Revaluation surplus

　　? Intangible assets – amortization expense

　　Dr: amortization expense

　　Cr: Accumulated amortization

　　? Intangible assets – goodwill

　　Dr: Assets FV of assets

　　Dr: Goodwill GW = Purchase price – (FV of assets – FV of liabilities)

　　Cr: Liabilities FV of liabilities

　　Cr: Cash Purchase price

　　liabilities

　　? Estimated Warranty Payable

　　Dr: Estimated warranty expense

　　Cr: Estimated warranty payable

　　Shareholders’ equity

　　? Issuance of common shares/preferred shares

　　Dr: Cash/PPE/Intangible assets

　　Cr: Common/Preferred shares

　　? Declaration of Cash dividend

　　Dr: Retained earnings

　　Cr: Dividend payable

　　Payment of cash dividend

　　Dr: Dividend payable

　　Cr: Cash

　　? Declaration of stock dividend

　　Dr: Retained earnings

　　Cr: Stock Dividends Distributable

　　Distribution of stock dividend

　　Dr: Stock Dividends Distributable

　　Cr: Cash

　　? Share repurchase

　　1. Repurchase price > share cost

　　Dr: Common shares

　　Dr: Retained earning

　　Cr: Cash

　　2. Repurchase price < Share cost

　　Dr: common shares

　　Cr: cash

　　Cr: contributed surplus