Ex 2 Inventory? Inventory 10,000 Cash 10,000 What type of account is it? On what financial statement will it show up?

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Presentation transcript:

Ex 2

Inventory? Inventory 10,000 Cash 10,000 What type of account is it? On what financial statement will it show up?

Spreadsheet Adding two cells (multiplying, dividing) Sum function Create a spreadsheet in google docs and share it with chrialex@fc.amdsb.ca Rename it ‘yourName Physical Inventory’

Physical Inventory Recreate your physical inventory sheet & total the value of your ending inventory. Each: Textbook is worth $1.25 Random books are worth $0.25 Magazines are worth $0.75 If your beginning inventory was worth $3500. What was your Cost of Goods Sold?

Bookstore Using the following information: Sales 100,000 Purchases 20,000 Bank 9,000 Supplies 3,200 Equipment 40,000 Misc Expenses 1,850 Wages Expense 9,000 Prepare the ‘Assets’ section of the balance sheet, and make an income statement! (Share these with chrialex@fc.amdsb.ca as well.)