ACCY 202: Accounting and Accountancy II
School: University of Illinois at Urbana, Champaign (UIUC )
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From: GradeBuddy Pages: 2Introducing the Sellers Perspective to the delivery and recording of goods and inventory
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From: GradeBuddy Pages: 2This lecture was a discussion section that recapped the past collection assignment. Also discussed were how to calculate Beginning Inventory, Ending Inventory and Cost of Goods Sold
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From: GradeBuddy Pages: 2Lecture 4 focused on an example from the notes package about FOB Shipping Point Prepaid Expense. Journal entries and the method of calculating the cash payment is highlighted.
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From: GradeBuddy Pages: 3Lecture 3 includes discussion notes on legal title transfer and how shipping points and destinations determine whether the buyer or the seller pays for transportation costs and how cash is reimbursed if need be.
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From: GradeBuddy Pages: 3This lecture begins to elude on recording inventory purchases. The different types of inventory are mentioned and the process of what to consider when recording journal entries.
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From: GradeBuddy Pages: 4Introduction to the course as well as all resources and information needed to succeed. Beginning the discussion on the Purchase and Disbursement Cycle which is a large part of external transactions