BS (Accounting Bootcamp)

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Sale Impact on Equity
Since something that is sold would already be included as COGS, wouldn't that mean that its sale would have no net impact on equity in the accounting equation because COGS is decreasing by the same amount that cash or A/R is increasing?
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added 9 months ago
Video Glitch
The last two minutes of the video for this module will noy play so I am not able to perform the exercise.
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added 10 months ago
Asset and Expense Valuation
In the Accounting Bootcamp Series, I think I understood him to say that the historical cost principal states that we should [u:i24l2u7i]ALWAYS [/u:i24l2u7i]use the actual cost we paid for an expense rather than market price. For example, if we bought 10,000 gallons of diesel at $5.00 a gallon and th... Read More
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added 11 years ago