Головна Усі новини «Дебет-Кредит» Новини партнерів

Adjusting Entries 2: перевір свою фінансову англійську

Продовжуємо вивчати лексику з "Practical Financial English". Цього разу пропонуємо Вашій увазі слова на тему регулювання записів

1. TASK: Insert the appropriate word in the text below:

Accurately – arises – asset - assume 

expired - recorded - report – unlikely – used 

 


Adjusting Entries 2

Another situation requiring an adjusting journal entry __________ when an amount has already been recorded in the company's accounting records, but the amount is for more than the current accounting period. To illustrate let's __________ that on December 1, 2016 the company paid its insurance agent $2,400 for insurance protection during the period of December 1, 2016 through May 31, 2017. The $2,400 transaction was __________ in the accounting records on December 1, but the amount represents six months of coverage and expense. By December 31, one month of the insurance coverage and cost have been used up or __________. Hence the income statement for December should report just one month of insurance cost of $400 ($2,400 divided by 6 months) in the account Insurance Expense. The balance sheet dated December 31 should __________ the cost of five months of the insurance coverage that has not yet been __________ up. This means that the balance sheet dated December 31 should report five months of insurance cost or $2,000 ($400 per month times 5 months) in the __________ account Prepaid Insurance. Since it is __________ that the $2,400 transaction on December 1 was recorded this way, an adjusting entry will be needed at December 31, 2016 to get the income statement and balance sheet to report this __________.

 


2. CHECK YOUR SPEAKING 

 

accurately

[ ˈæk.jʊ.rət ]

Точно

arises

[ əˈraɪz ]

Виникає

asset

[ ˈæs.et ]

Актив

assume

[ əˈsjuːm ]

Допускати

expired

[ ɪkˈspaɪər ]

Спливати

recorded

[ rɪˈkɔːd ]

Зареєструвати

report

[ rɪˈpɔːt ]

Відобразити в звіті

unlikely

[ ʌnˈlaɪkli ]

Малоймовірно

 

 [ juːst ]

використовувати

 


3. SEE CORRECT ANSWER

[ Див. правильну відповідь ] 

Adjusting Entries 2

Another situation requiring an adjusting journal entry arises when an amount has already been recorded in the company's accounting records, but the amount is for more than the current accounting period. To illustrate let's assume that on December 1, 2016 the company paid its insurance agent $2,400 for insurance protection during the period of December 1, 2016 through May 31, 2017. The $2,400 transaction was recorded in the accounting records on December 1, but the amount represents six months of coverage and expense. By December 31, one month of the insurance coverage and cost have been used up or expired. Hence the income statement for December should report just one month of insurance cost of $400 ($2,400 divided by 6 months) in the account Insurance Expense. The balance sheet dated December 31 should report the cost of five months of the insurance coverage that has not yet been used up. This means that the balance sheet dated December 31 should report five months of insurance cost or $2,000 ($400 per month times 5 months) in the asset account Prepaid Insurance. Since it is unlikely that the $2,400 transaction on December 1 was recorded this way, an adjusting entry will be needed at December 31, 2016 to get the income statement and balance sheet to report this accurately.

 


Цей та багато інших цікавих матеріалів Ви знайдете 
в підручнику “Practical Financial English”

Докладніше про книгу та її замовлення див. тут >>>

Переглянути нову термінологію і пройти інші тести можна тут >>>

Тренуйте навички фінансової англійської тут >>>

Автор:
FBE School
Рубрика:
«Дебет-Кредит» / Новини партнерів
Теги:
financial english

Зверніть увагу: новинна стрічка «Дебету-Кредиту» містить не тільки редакційні матеріали, але також статті сторонніх авторів, роз'яснення співробітників фіскальної служби тощо.

Дані матеріали відображають виключно точку зору їх авторів і можуть не співпадати з точкою зору редакції.

Коментарі: 0

Новини по темі

Хочете отримувати

найважливіші новини від «Дебету-Кредиту»?