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Direct Materials
+Direct Labor
Total Manufacturer overhead
=Total Manufacturing Costs
+Work in Process Beginning Balance
-Work in Process Ending Balance
=Cost of Goods Manufactured
+Finished...

Where do the goods go that were returned?

Book value= Cost-Depreciation

1 B $38,000

$45,000-$10,000=$35,000/5=$7000 for a year of depreciation.

$45,000-$7000= $38,000 book value

Residual or salvage value is used to determine...

C. Sales returns and allowances

Cash payments is for payments made to vendors not customers. Since the customer returned INVENTORY(goods you sold), then it would go in the sales returns and...

Net Sales
-COGS
=Gross margin

a. If you look in your textbook I am sure you will find an classified balance sheet to look at and answer this question. Here is a clue. Assets and Liabilities are listed as current first, and...

The answer is A

Cogs is the cost of the goods sold. Ending Inventory is the number of units left after after the goods have been picked out and sold.

Inventory Beginning
+ Purchases of Inventory
=Inventory...

A=L+OE

$80,000=?+$15,000

$80,000-$15,000= $65,000. That means Liabilities increased by $65,000. I don't know where Captain Forest got his numbers? If assets increased, in this problem, then...

What helps is to journalize the transactions and then post them to T-accounts (general ledger accounts). Then do the a-e transactions as adjusting entries into the T-accounts. The ending balances...

If you can show us that you have at least attempted the problem, then I will help you. However, I am not just going to do your homework for you...

The easy way to do this is to use the accounting equation. Did you learn this?

A=L+OE(PIC+EC)

So, if you plug the numbers into the equation, you can solve it.

$125,000=$65,000+?
...

Always check out the website for each course your taking. Most of the time there are practice quizzes and review material on the website. In my business law course, there is actually lecture notes....

I totally believe it is always good to give information that is relevant to the situation. However, it's obvious that this student is in the first year of accounting and has not covered the more...

When you extend the useful life of an asset, it's called capitalization. You are adding to the asset. That's why its an asset.

Repairs are like Captain Forest said. It just keeps the asset in...

Current Ration is Current Assets(Short Term Assets) divided by Current Liabilities(short term liabilities). It is used to determine if a company can pays its short term obligations with its current...

You know what probably happened? Your renting a house, and normally all utilities except for phone and cable bills are left up to the landlord. Usually, when you rent a place its your...

Just remember that Asset, Drawing and Expense accounts all get increased with debits. All Liability, Revenue, Owners Equity accounts get increased with credits. When you decrease any of these...

If your off the amount of the truck asset account, did you account for accumulated depreciation on the credit side? Or, if the trucks have a liability account, maybe the Note Payable is incorrect...

Peachtree: It looks as though, somebody received payments against those invoices. So its showing up in your checking account as payment being received. You will have to reverse the payments per the...