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  • Single Entry Formulas

    Diunggah oleh

    Dexter Dee
    138 tayangan3 halaman
    Net Income can be calculated on a cash or Accrual Basis using the following formulas: 1. Total sales, 2. Total purchases, 3. Total expenses, 4. Other income, 5. Depreciation (applicable to cash and accrual basis) 6. Other income, 7. Other income, 8. Other income, 9. Other income, 10. Other expenses, 11. Other income, 12. Other income, 13. Other income, 14. Other income, 15. Other income, 16. Other income, 17. Other income, 18. Other income, 19. Other expenses, 19. Other income, 20.

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    Net Income can be calculated on a cash or Accrual Basis using the following formulas: 1. Total sales, 2. Total purchases, 3. Total expenses, 4. Other income, 5. Depreciation (applicable to cash and accrual basis) 6. Other income, 7. Other income, 8. Other income, 9. Other income, 10. Other expenses, 11. Other income, 12. Other income, 13. Other income, 14. Other income, 15. Other income, 16. Other income, 17. Other income, 18. Other income, 19. Other expenses, 19. Other income, 20.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai DOC, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    138 tayangan3 halaman

    Single Entry Formulas

    Diunggah oleh

    Dexter Dee
    Net Income can be calculated on a cash or Accrual Basis using the following formulas: 1. Total sales, 2. Total purchases, 3. Total expenses, 4. Other income, 5. Depreciation (applicable to cash and accrual basis) 6. Other income, 7. Other income, 8. Other income, 9. Other income, 10. Other expenses, 11. Other income, 12. Other income, 13. Other income, 14. Other income, 15. Other income, 16. Other income, 17. Other income, 18. Other income, 19. Other expenses, 19. Other income, 20.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai DOC, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 3

    PAGE 1

    Single entry Formulas: 1. Computation of net income using Single Entry Method A. For Single Proprietorship and Partnership Increase/Decrease in Net Assets: Capital balance, end Capital balance, beginning Withdrawals Additional Investments / Contributions Net Income B. For Corporation Increase/Decrease in Retained earnings: Retained earnings, end Retained earnings, beginning Dividends declared Net Income 2. Computation of Net Income by Analyzing Changes in Account Balances A. For Single Proprietorship and Partnership Increase in Assets Decrease in Assets Increase in Liabilities Decrease in Liabilities Increase in Net Assets Withdrawals Additional Investments/Contributions Net Income B. For Corporation Increase in Assets Decrease in Assets Increase in Liabilities Decrease in Liabilities Increase in Stockholders Equity Increase in Contributed Capital Decrease in Contributed Capital Increase in Retained Earnings Add: Dividends declared Net Income Dr(Cr) Pxx (xx) (xx) xx xx (xx) xx xx xx Pxx Dr(Cr) Pxx (xx) (xx) xx xx xx (xx) Pxx Pxx (xx) Pxx (xx)

    Pxx xx ( xx) Pxx

    Pxx xx Pxx

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    PAGE 2

    Cash vs. Accrual Formulas: Cash Basis 1. Total Sales Cash Sales Add: Sales on account: AR and NR, end Collections of AR /NR NR Discounted Write off Sales returns and allowances Sales discounts AR and NR, beginning Total Sales 2. Total Purchases Cash Purchases Add: Purchases on account: AP and NP, end Payments on AP/NP Purchase returns and allowances Purchase discounts AP and NP, beginning Total Purchases 3. Expenses in General Expenses Paid Add/(Deduct): Prepaid expenses, beginning Accrued expenses, end Prepaid expenses, end Accrued expenses, beginning Total Expenses Incurred 4. Other Income Income (cash) received Add/(Deduct): Unearned income, beginning Accrued income, end Unearned income, end Accrued income, beginning Total Income Earned 5. Depreciation (applicable to cash and accrual basis) PPE beg Add: Acquisition / Purchase of PPE Total Less: PPE end Sale or Disposal of PPE Depreciation expense xx xx xx xx xx xx xx xx xx xx xx (xx) (xx) xx xx xx xx xx (xx) (xx) xx Accrual Basis xx xx . . xx Cash Basis xx xx xx xx (xx) xx Accrual Basis xx xx xx xx xx xx xx xx xx (xx) xx Accrual Basis Accrual Basis

    . . xx Cash Basis

    . . xx Cash Basis

    . . xx

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