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本文主要介绍ACCA考试《F3财务会计》辅导资料。希望本文能够帮助您更好的全面了解2012年ACCA考试的相关重点!!

☆Relationship between a statement of financial position and a statement of income

●The balance sheets are not isolated statements, they are linked over time with the income statement

●As the business records a profit in the income statement, that profit is added to

the capital section of the balance sheet, along with any capital introduced. Cash

taken out of the business by the proprietor, called drawings, is deducted.

Illustration – the accounting equation:

The transactions:

Day 1 Avon commences business introduction $1,000 cash.

Day 2 Buys a motor car for $400 cash.

Day 3 Buys inventory for $200 cash.

Day 4 Sells all the goods bought on Day 3 for $300 cash.

Day 5 Buys inventory for $400 on credit.

SFP at the end of each day’s transactions:

Solution:

Day 1 Assets (Cash $1,000) = Capital ($1,000) + Liabilities ($0)

Day 2 Assets (Motor $400) = Capital ($1,000) + Liabilities ($0)

(Cash $600)

Day 3 Assets ( Inventory $200) = Capital($1,000) + Liabilities ($0)

(Motor $400)

(Cash $400)

Day 4 Assets ( Motor$ 400) = Capital + Liabilities ($0)

(Cash $700) (Beginning$1,000)

(Profit $100)

Day 5 Assets (Inventory $ 400) = Capital + Liabilities

( Motor$ 400) (Beginning$1,000)($400)

(Cash $700) (Profit $100)

Avon

Statement of Financial Position as at end of Day 5

	$	$
Non – current assets
Motor Van		400
Current assets
Inventory	400
Cash in hand	700
		1,100
Total assets		1,500
	$	$
Capital account
Balance at Day 1	1,000
Add net profit for the period	100
		1,100
Current liabilities
Payable		400
Total		1,500

Example:

Continuing from the illustration above, prepare the SFP at the end of each day after accounting for the transactions below:

Day 6 Sells half of the goods bought on Day 5 on credit for $250.

Day 7 Pays $200 to his supplier.

Day 8 Receives $100 from a customer.

Day 9 Proprietor draws $75 in cash.

Day 10 Pays rent of $40 in cash.

Day 11 Receives a loan of $600 repayable in two years.

Day 12 Pays cash of $30 for insurance.

Your starting point is the SFP at the end of Day 5, from the illustration above.

Prepare: SFP at the end of Day 12

I.S. for the first 12 days of trading.

Solution:

Day 6 Assets (Inventory $ 200) = Capital + Liabilities

( Motor$ 400) 　(Beginning$1,000)($400)

(Cash $700) (Profit $150)

(A/Receivable$250)

Day 7 Assets (Inventory $ 200) = Capital + Liabilities

( Motor$ 400) (Beginning$1,000)($200)

(Cash $500) (Profit $150)

(A/Receivable$250)

Day 8 Assets (Inventory $ 200) = Capital + Liabilities

( Motor$ 400) (Beginning$1,000)($200)

(Cash $600) (Profit $150)

(A/Receivable$150)

Day 9 Assets (Inventory $ 200) = Capital + Liabilities

( Motor$ 400) 　(Beginning$1,000)($200)

(Cash $525) (Profit $150)

(A/Receivable$150) (Drawing $75)

Day 10 Assets (Inventory $ 200) = Capital + Liabilities

( Motor$ 400) (Beginning$1,000)($200)

(Cash $485) (Profit $110)

(A/Receivable$150) (Drawing $75)

Day 11 Assets (Inventory $ 200) = Capital 　+ Liabilities

( Motor$ 400) (Beginning$1,000)($200)

(Cash $1,085) (Profit $110) ($600)

(A/Receivable$150) (Drawing $75)

Day 12 Assets (Inventory $ 200) = Capital + Liabilities

( Motor$ 400) (Beginning$1,000)($200)

(Cash $1,055) (Profit $80 ) ($600)

(A/Receivable$150)　(Drawing $75)

Avon

Statement of Financial Position as at end of Day 12

	$	$
Non – current assets
Motor Van		400
Current assets
Inventory	200
Trade receivables	150
Cash in hand	1,055
		1,405
Total assets		1,805
	$	$
Capital account
Balance at Day 1	1,000
Add net profit for the period	80
Less: Drawing for year	（75）
		1,005
Non – current liabilities		600
Current liabilities
Payable		200
Total		1,805

Avon

Income statement for the period ended at Day 12

	$	$
Sales revenue		550
Opening inventory	0
Purchases	600
Less: Closing inventory	（200）
Cost of sales		（400）
Gross profit		150
Less: Expenses
rent	40
insurance	30
		（70）
Net profit		80

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