Capitulo 4
Hojas de Trabajo
Objetivo de Estudio #1
Preparación de una hoja de trabajo
Hoja de Trabajo
(WorkSheet)
 Una hoja de trabajo es una forma de
múltiples columnas que puede ser usada en el
proceso de ajuste y en la preparación de
estados financieros.
 Es una herramienta de trabajo para los
contadores y no es un record permanente.
 El uso de una hoja de trabajo
debe hacer la preparación de
entradas de ajuste y estados
financieros mas fácil.
ILLUSTRATION 4-1
FORM AND PROCEDURE FOR A WORK SHEET
Work Sheet
Account
Titles
Trial Balance
Cr.
Dr.
Adjustments
Cr.
Dr.
Adjusted
Trial Balance
Cr.
Dr.
Income
Statement
Cr.
Dr.
(Ledger
account
titles)
(Additional
account titles
for
adjustments)
1.
Prepare un
Balance de
comprobación
En la
hoja de
Trabajo
2.
Entre
ajustes
necesarios
3.
Entre
Los balances
ajustados
4.
Pase los balances a las
Columnas correspondientes
5.
Total the statement columns,
compute net income (or net
loss), and complete work sheet
Balance
Sheet
Cr.
Dr.
Hoja de trabajo
 El uso de la hoja de trabajo es opcional
 Cuando una es usada, los estados financieros
son preparados de la hoja de trabajo.
 Ajustes son jornal izados y costeados desde la
hoja de trabajo luego de que los estados
financieros sean preparados.
Pasos para preparar
una hoja de trabajo
1 Prepare un “trial balance” en la hoja de trabajo
2 Entre los ajustes en las columnas de ajustes
3 Entre los balances ajustados en las columnas del
“trial balance ajustado”
4 Extienda las cantidades del “adjusted trial
balance” a las columnas del estado financiero
apropiado
5 Totalice las columnas de los estados y compute el
ingreso neto (net icome) o la perdida (net loss), y
complete la hoja de trabajo
Preparación de una hoja de trabajo
1 Preparación del Trial Balance
Pioneer Advertising Agency
WorkSheet
For the Month ended October 31, 2002
Trial Balance
Account Titles
Cash
DR
CR
15,200
Advertising Supplies
Preparid insurance
Of f ice Equipment
2,500
600
5,000
Notes Payable
5,000
Accounts Payable
2,500
Unearned Fees
1,200
C.R.Byrd Capital
C.R. Byrd Draw ings
10,000
500
Fees Earned
10,000
Salaries Expense
Rent Expense
Totals
Advertising Supplies expenses
Insurance expense
Accum Depr- of f ice Equipment
Depreciation expense
interest Expense
Accounts Receivable
Interest Payable
Salaries payable
Totals
4,000
900
28,700
28,700
Adjusted
Trial Balance
Adjustment
DR
CR
Dr
CR
Preparación de una hoja de trabajo
2 Entradas de Ajuste
Pioneer Advertising Agency
WorkSheet
For the Month ended October 31, 2002
Trial Balance
Account Titles
Cash
DR
Adjusted
Trial Balance
Adjustment
CR
DR
CR
Dr
15,200
Advertising Supplies
2,500
a
1,500
600
b
50
d
400
e
200
c
40
Interest Payable
f
50
Salaries payable
g
Preparid insurance
Of f ice Equipment
5,000
Notes Payable
5,000
Accounts Payable
2,500
Unearned Fees
1,200
C.R.Byrd Capital
C.R. Byrd Draw ings
d
400
10,000
500
Fees Earned
10,000
Salaries Expense
g
1,200
Advertising Supplies expenses
a
1,500
Insurance expense
b
50
Rent Expense
Totals
4,000
900
28,700
28,700
Accum Depr- of f ice Equipment
Depreciation expense
c
40
interest Expense
f
50
Accounts Receivable
e
Totals
200
3,440
1,200
3,440
-
Preparación de una hoja de trabajo
3 Entrada de balances ajustados
Pioneer Advertising Agency
WorkSheet
For the Month ended October 31, 2002
Trial Balance
Account Titles
Cash
DR
Adjusted
Trial Balance
Adjustment
CR
DR
CR
Dr
15,200
Advertising Supplies
Preparid insurance
Of f ice Equipment
CR
15,200
2,500
a
1,500
1,000
600
b
50
550
5,000
5,000
Notes Payable
5,000
5,000
Accounts Payable
2,500
2,500
Unearned Fees
1,200
C.R.Byrd Capital
C.R. Byrd Draw ings
d
400
10,000
10,000
500
Fees Earned
500
10,000
Salaries Expense
Rent Expense
Totals
800
4,000
g
d
400
e
200
1,200
5,200
900
28,700
10,600
900
28,700
Advertising Supplies expenses
a
1,500
1,500
Insurance expense
b
50
50
Accum Depr- of f ice Equipment
c
40
40
Depreciation expense
c
40
40
interest Expense
f
50
50
Accounts Receivable
e
200
200
Interest Payable
f
Salaries payable
g
Totals
3,440
50
50
1,200
1,200
3,440
30,190
30,190
PREPARING A WORKSHEET 4 EXTEND ADJUSTED BALANCES
Pioneer Advertising Agency
WorkSheet
Adjusted
For the
Month
ended October
31,Statement
2002
Trial
Balance
Income
Account Titles
Cash
Dr
CR
Dr
Cr
15,200
Advertising Supplies
Preparid insurance
Of f ice Equipment
1,000
550
5,000
Notes Payable
5,000
Accounts Payable
2,500
Unearned Revenues
800
C.R.Byrd Capital
C.R. Byrd Draw ings
10,000
500
Service Revenues
Salaries Expense
Rent Expense
Balance Sheet
Dr
Cr
15,200
1,000
550
5,000
5,000
2,500
800
10,000
500
10,600
10,600
5,200
900
5,200
900
Totals
Advertising Supplies expenses
Insurance expense
50
Accum Depr- of f ice Equipment
40
interest Expense
50
200
22,450
50
1,200
19,590
22,450
2,860
22,450
50
Salaries payable
Net Income
40
50
200
Interest Payable
Totals
40
40
Depreciation expense
Accounts Receivable
1,500
50
1,500
1,200
30,190
30,190
7,740
2,860
10,600
10,600
10,600
ADJUSTING ENTRIES
JOURNALIZED
GENERAL JOURNAL
Date
2002
Oct. 31
31
31
31
31
31
31
Account Titles and Explanation
a
Advertising Supplies Expense
Advertising Supplies
b
Insurance Expense
Prepaid Insurance
c
Depreciation Expense
Accumulated Expense
d
Unearned Fees
Fees Earned
e
Accounts Receivable
Fees Earned
f
Interest Expense
Interest Payable
g
Salaries Expense
Salaries Payable
Ref.
Debit
Credit
1,500
1,500
50
50
40
40
400
400
200
200
50
50
1,200
1,200
PREPARATION OF FINANCIAL STATEMENTS
INCOME STATEMENT
PIONEER ADVERTISING AGENCY
Income Statement
For the Month Ended October 31, 2002
Revenues
Service revenue
Expenses
Salaries expense
Advertising supplies expense
Rent expense
Insurance expense
Interest expense
Depreciation expense
Total expenses
Net income
$10,600
The income statement is
prepared from the income
statement columns of the
work sheet.
$5,200
1,500
900
50
50
40
7,740
$ 2,860
PREPARATION OF FINANCIAL STATEMENTS
OWNER’S EQUITY STATEMENT
PIONEER ADVERTISING AGENCY
Owner’s Equity Statement
For the Month Ended October 31, 2002
C.R. Byrd, Capital, October 1
Add: Investments
Net income
Less: Drawings
C.R. Byrd, Capital, October 31
$
The owner’s equity
statement is prepared from
the balance sheet columns
of the work sheet.
$10,000
2,860
-0-
12,860
12,806
500
$12,360
PREPARATION OF FINANCIAL STATEMENTS
BALANCE SHEET
PIONEER ADVERTISING AGENCY
Balance Sheet
October 31, 2002
Liabilities and Owner’s Equity
Assets
Cash
Accounts receivable
Advertising supplies
Prepaid insurance
Office equipment
Less: Accumulated
depreciation
Total assets
$ 15,200
200
1,000
550
$5,000
40
4,960
$21,910
Liabilities
Notes payable
Accounts payable
Interest payable
Unearned revenue
Salaries payable
Total liabilities
Owner’s equity
C.R. Byrd, Capital
Total liabilities and owner’s
equity
The balance sheet is prepared from the
balance sheet columns of the work sheet.
$ 5,000
2,500
50
800
1,200
9,550
12,360
$21,910
STUDY OBJECTIVE 2
Explain the process of closing the books.
ILLUSTRATION 4-5
Cuentas temporeras vs Permanentes
Temporeras (NOMINAL)
Estas cuentas se cierran
PERMANENTE (REAL)
Estas cuentas no se
cierran
Todas las cuentas de Ingreso
Todas las cuentas de Activos
Todas las cuentas de Gastos
Todas las cuentas de deuda
Retiros del Dueño
Cuentas de Capital del
Dueño
Entradas de Cierre
 Entradas de Cierre formalmente reconoce en el
mayor (ledger) la transferencia del ingreso neto o
la perdida y los retiros del dueño, al capital del
dueño.
 Jornalizacion y posteo de entradas de cierre es un
paso requerido en el ciclo de contabilidad.
 Una cuenta temporera,Income Summary, es
usada en el cierre de cuentas de ingresos y gastos
para minimizar la cantidad de detalles en la
cuenta permanente del capital del dueño.
ILLUSTRATION 4-6
DIAGRAM OF CLOSING PROCESS
PROPRIETORSHIP
(INDIVIDUAL)
EXPENSES
(INDIVIDUAL)
REVENUES
2
1
INCOME
SUMMARY
1 Debitas cada cuenta de ingreso por su balance, y
acreditas Income Summary por el total de ingreso.
2 Debitas Income Summary por el total de gastos, y
acreditas cada cuenta de gasto por sus balances.
ILLUSTRATION 4-6
DIAGRAM OF CLOSING PROCESS
INCOME
SUMMARY
3
OWNER’S
CAPITAL
3 Debitas o Acreditas Income Summary y acreditas o
debitas el capital por la cantidad del net income o net loss
ILLUSTRATION 4-6
DIAGRAM OF CLOSING PROCESS
OWNER’S
CAPITAL
4
OWNER’S
DRAWING
4 Debitas owners capotal; por el balance en la cuenta de returo s y
acreditas las cuentas de retiro por la misma cantidad.
ILLUSTRATION 4-7
CLOSING ENTRIES JOURNALIZED
GENERAL JOURNAL
Date
2002
Oct. 1
Date
2002
Oct. 31
Account Titles and Explanation
Service Revenue
Income Summary
(To close revenue acccount)
INCOME SUMMARY
Explanation Debit
Credit
10,600
No. 400
Balance
10,600
Date
2002
Oct. 31
Ref.
400
350
Debit
Credit
10,600
10,600
SERVICE REVENUE
Explanation
Debit
10,600
Credit
No. 350
Balance
10,600
–0–
ILLUSTRATION 4-7
CLOSING ENTRIES JOURNALIZED
GENERAL JOURNAL
Date
2002
Oct. 31
Account Titles and Explanation
Income Summary
Salaries Expense
Advertising Supplies Expense
Rent Expense
Insurance Expense
Interest Expense
Depreciation Expense
(To close expense
accounts)
Date
2002
Oct. 31
31
INCOME SUMMARY
Explanation Debit
7,740
Credit
10,600
Ref.
Debit
350 7,740
726
631
729
722
905
911
No. 350
Balance
10,600
2,860
Credit
5,200
1,500
900
50
50
40
ILLUSTRATION 4-7
CLOSING ENTRIES JOURNALIZED
GENERAL JOURNAL
Date
2002
Oct. 31
Date
2002
Oct. 31
31
Account Titles and Explanation
(3)
Income Summary
C. R. Byrd, Capital
(To close net income to
capital)
INCOME SUMMARY
Explanation Debit
Credit
10,600
7,740
2,860
No. 350
Balance
10,600
2,860
–0–
Date
2002
Oct. 31
31
Ref.
Debit
350
301
2,860
C. R. BYRD, CAPITAL
Explanation Debit
Credit
2,860
Credit
10,000
2,860
No. 301
Balance
10,000
12,860
ILLUSTRATION 4-7
CLOSING ENTRIES JOURNALIZED
GENERAL JOURNAL
Date
2002
Oct. 31
Date
2002
Oct. 31
31
Account Titles and Explanation
(4)
C. R. Byrd, Capital
C. R. Byrd, Drawing
(To close net income to
capital)
C. R. BYRD, DRAWING
Explanation Debit
Credit
500
500
No. 350
Balance
500
–0–
Date
2002
Oct. 31
31
31
Ref.
Debit
350 500
301
C. R. BYRD, CAPITAL
Explanation
Debit
Credit
500
Credit
10,000
500
No. 301
Balance
10,000
12,860
12,360
CAUTIONS RELATING TO
CLOSING ENTRIES
Unos detalles relacionados a las entradas de
cierre:
1 Evite el duplicar los balances de ingresos o
gastos en vez de llevarlos a zero.
2 No cierre la cuenta de retiro atraves del
Income Summary. La cuenta de Owner’s
drawing no es un gasto y no es un factor
determinante del ingreso neto
POSTING CLOSING ENTRIES
 Todas la cuentas temporeras tienen balances cero luego
de postear las entradas de cierre.
 Los balances de owner’s capital representan el total de
equidad del dueño al final del periodo de contabilidad
 Ninguna entrada es jornalizada ni posteada durante el
ano a la cuenta de owner’s capital.
 Como parte del proceso de cierre, las cuentas
temporeras son totalizadas, balanceadas y doble ruled.
 Las cuentas permanentes (assets, liabilities, and
owner’s capital) no se cierran.
ILLUSTRATION 4-8
POSTING OF CLOSING ENTRIES
Salaries Expense
4,000
(2)
5,200
1,200
5,200
726
(1)
5,200
1
2
Advertising Supplies
Expense
1,500
(2)
1,500
Rent Expense
900
(2)
Service Revenue
10,600
10,000
400
200
10,600
10,600
631
(2)
(3)
729
900
Income Summary
7,740
(1)
10,600
2,860
10,600
350
10,600
3
Insurance Expense
50
(2)
722
50
(4)
2
Interest Expense
50
(2)
C. R. Byrd, Capital
500
10,000
(3)
2,860
905
301
12,360
50
4
Depreciation Expense
40
(2)
40
711
C. R. Byrd, Drawing
500
(4)
500
306
400
STUDY OBJECTIVE 3
Describe the content and purpose
of a post-closing trial balance.
POST-CLOSING
TRIAL BALANCE
 Luego de que todas las entradas de cierre
han sido jornalizadas y posteadas, un
balance de comprobacion luego de cierre
(post-closing trial balance)se prepara.
 El proposito de este balance de
comprobacion es proveer la igualdad de las
cuentas permanentes que se van a mover
para el proximo periodo de contabilidad.
ILLUSTRATION 4-9
POST-CLOSING TRIAL BALANCE
PIONEER ADVERTISING AGENCY
Post-Closing Trial Balance
October 31, 2002
Debit
Cash
The post-closing trial
Accounts Receivable balance is prepared from the
Advertising Supplies
permanent accounts in the
Prepaid Insurance
ledger.
Office Equipment
Accumulated Depreciation — Office Equipment
Notes Payable
The post-closing trial balance
Accounts Payable
provides evidence that the
Unearned Revenue
journalizing and posting of
Salaries Payable
closing entries has been
Interest Payable
properly completed.
C. R. Byrd, Capital
Credit
$ 15,200
200
1,000
550
5,000
$ 40
5,000
2,500
800
1,200
50
12,360
$ 21,950 $ 21,950
STUDY OBJECTIVE 4
Mencionar los pasos requeridos para el ciclo de
contabilidad
STEPS IN THE
ACCOUNTING CYCLE
1 Analizar las transacciones del
negocio
2 Jornalizar las transacciones
3 Posteo a las cuentas del mayor
4 Prepare un balance de
comprobacion
5 Jornalizar y Postear las entradas
de ajuste
STEPS IN THE
ACCOUNTING CYCLE
6 Preparar un balance de comprobacion
ajustado
7 Preparar los estados financieros:
Income statement, Owner’s Equity
Statement, Balance Sheet
8 Jornalizacion y posteo de las entradas
de cierre
9 Preparar un balance de comprobacion
luego de cierre
REVERSING ENTRIES
 A reversing entry es realizada al principio del
proximo periodo de contabilidad
 El proposito de las entradas es el simplificar el
registro de transacciones subsecuentes a las
entradas de ajuste
 Reversing entries son mayormente usada para
reversar 2 tipos de entradas de ajustes las :
accrued revenues and accrued expenses.
ILLUSTRATIVE EXAMPLE
OF REVERSING ENTRY
2002
Oct. 26
Initial Salary Entry
Salaries Expense
Cash
4,000
4,000
(To record Oct. 26 payroll)
Adjusting Entry
31
Salaries Expense
Salaries Payable
1,200
Income Summary
Salaries Expense
5,200
1,200
(To record accrued salaries)
Closing Entry
31
(To close salaries expense)
Reversing Entry
Nov. 1
9
Salaries Payable
Salaries Expense
(To reverse Oct. 31
adjusting entry)
Subsequent Salary Entry
Salaries Expense
Cash
5,200
1,200
1,200
4,000
4,000
(To record Nov. 9 payroll)
STUDY OBJECTIVE 5
Explain the approaches to
preparing correcting entries.
CORRECTING ENTRIES
 Errores que ocurren al registrar transacciones
deben ser corregidos tan pronto estos sean
descubiertos por al preparar entradas de
correccion.
 Entradas de correccion son inecesarias siempre y
cuando los records esten libre de errores, pueden
ser jornalizadas y posteadas cuando el error sea
descubierto.
 Esto envuelve cualquier combinacion de cuentas
de los estados de situacion y los estados de
ingresos y gastos
ILLUSTRATIVE EXAMPLE
OF CORRECTING ENTRY 1
May 10
10
20
Incorrect Entry
Cash
Service Revenue
(To record collection from
customer an account)
Correct Entry
Cash
Accounts Receivable
(To record collection from
customer an account)
Correcting Entry
Service Revenue
Accounts Receivable
(To correct entry of May 10)
50
50
50
50
50
50
ILLUSTRATIVE EXAMPLE
OF CORRECTING ENTRY 2
Incorrect Entry
May 18
Delivery Equipment
Accounts Payable
45
45
(To record purchase of
equipment on account)
Correct Entry
18
Office Equipment
Accounts Payable
450
450
(To record purchase of
equipment on account)
Correcting Entry
June 3
Office Equipment
Delivery Equipment
Accounts Payable
(To correct entry of May 18)
450
45
405
STUDY OBJECTIVE 6
Identificar las secciones de un Estado de
Situacion Cualificado
ILLUSTRATION 4-17
STANDARD BALANCE SHEET CLASSIFICATIONS
 Estados financieros son mas utiles cuando sus
elementos son clasificados en subgrupos
significativos.
 Un classified balance sheet generalmente tiene
las siguientes clasificaciones estandars:
Liabilities and Owner’s Equity
Assets
Current Assets (Activos Corrientes)
Current Liabilities (Pasivos Corrientes)
Long Term Investments
Long Term Liabilities (Pasivos a Largo Plazo)
(Inversiones a Largo Plazo)
Property Plant and Equipment (Propiedad, Planta y
Equipo)
Intangible Assets (Activos Intangibles)
Owner’s Equity
Activos Corrientes
 Activos Corrientes son el cash (efectivo) y todos los
aquellos recursos que se pueden convertir en
efectivo o vendidos, o consumidos dentro de
un periodo de 1 año de la fecha del estado de
situacion o el ciclo de operación del negocio,
el que sea mas largo.
 Activos Corrientes son presentados en el orden de
liquidez
 El civlo de operación de una compania es el tiempo
promedio que se requiere de cash a cash al producir
ingresos.
 Ejemplos de activos corrientes son inventario, cuentas por
cobrar y efectivo
Inversiones a
Largo Plazo
 Long-term investments son recursos que se
pueden convertir en efectivo, pero su
conversion en efectivo no se espera que se
realice dentro de un año o dentro del ciclo de
operacion.
 Ejemplos incluyen inversiones en bonos de
otra comapañía o inversiones en terrenos para
la re-venta
10 shares
XYZ stock
PROPERTY, PLANT,
AND EQUIPMENT
 Tangible resources of a relatively permanent
nature that are used in the business and not
intended for sale are classified as property,
plant, and equipment.
 Examples include land, buildings and
machinery.
INTANGIBLE ASSETS
 Intangible assets are noncurrent resources
that do not have physical substance.
 Examples include patents, copyrights,
trademarks, or trade names that give the
holder exclusive right of use for
a specified period of time.
CURRENT LIABILITIES
Current liabilities are obligations that
are reasonably expected to be paid from
existing current assets or through the
creation of other current liabilities
within one year or the operating cycle,
whichever is longer.
Examples include accounts payable,
wages payable, interest payable, and
current maturities of long-term debt.
LONG-TERM
LIABILITIES
Obligations expected to be paid
after one year are classified as
long-term liabilities.
Examples include long-term
notes payable, bonds payable,
mortgages payable, and lease
liabilities.
OWNER’S EQUITY
 The content of the owner’s equity section varies
with the form of business organization.
 In a proprietorship, there is a single owner’s
equity account called (Owner’s Name), Capital.
 In a partnership, there are separate capital
accounts for each partner.
 For a corporation, owners’ equity is called
stockholders’ equity, and it consists of two
accounts: Capital Stock and Retained Earnings.
ILLUSTRATION 4-25
CLASSIFIED BALANCE SHEET IN ACCOUNT FORM
PIONEER ADVERTISING AGENCY
Balance Sheet
October 31, 2002
Assets
Current assets
Cash
Accounts receivable
Advertising supplies
Prepaid insurance
Total current assets
Property, plant, and equipment
Office equipment
Less: Accumulated depreciation
Total assets
$ 15,200
200
1,000
550
16,950
$5,000
40
4,960
$21,910
A classified balance sheet helps the financial statement user determine 1 the
availability of assets to meet debts as they come due and 2 the claims of
short- and long-term creditors on total assets.
ILLUSTRATION 4-25
CLASSIFIED BALANCE SHEET IN REPORT FORM
Liabilities and Owner’s Equity
Current liabilities
Notes payable
Accounts payable
Interest payable
Unearned revenue
Salaries payable
Total current liabilities
Long-term liabilities
Notes payable
Total liabilities
Owner’s equity
C. R. Byrd, Capital
Total liabilities and owner’s equity
The balance sheet is most often presented in the report form,
with the assets above liabilities and owner’s equity.
$ 1,000
2,500
50
800
1,200
5,550
4,000
9,550
12,360
$21,910
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Chapter 4 - Weygandt, Keiso, Kimmel 5th Edition