BE1-1Presented below is the basic accounting equation. Determine the missing amounts. ASSETS = LIABILITY OWNER’S EQUITYa. 90,000. = 50,000 ?b. ? = 40,000 70,000c. 94,000 = ? 53,000

In a chapter 7 bankruptcy, a debtor:

Lauer corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: date transaction number of units cost per unit 1/1 beginning inventory 210 $ 910 5/5 purchase 310 $ 1,010 8/10 purchase 410 $ 1,110 10/15 purchase 255 $ 1,160 during the year, lauer sold 1,025 laptop computers. what was cost of goods sold using the lifo cost flow assumption?

As a general rule, when accountants calculate profit they account for explicit costs but usually ignorea. certain outlays of money by the firm. b. implicit costs. c. operating costs. d. fixed costs.