Accounting Notes - sale.------ At the end you take cost of...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
21:00 There will be a quiz next Tuesday based on the topical ratios that we learned in  the lesson for chapter 5. Current Assets – Current Liabilities = Working Capital Week 6 now. So know the following. Freight out is an operating expense Never take a discount on shipping. Cost of goods sold… Beginning inventory plus cost of purchases = cost of goods available for 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: sale.------ At the end you take cost of goods sold and subtract that from the cost of goods available for sale and you get your ending inventory. Sales. -Sales Returns and Allowances-Sales Discount Net Sales Every time you sell something on account. This is your transaction. A debit to sales and a credit to sales. 21:00 21:00...
View Full Document

This note was uploaded on 06/13/2011 for the course POLI SCI 111 taught by Professor Ceriello during the Spring '11 term at Clark College.

Page1 / 3

Accounting Notes - sale.------ At the end you take cost of...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online