ACC 201 Accounting Week 2 Assignment 2

May 1st, 2015
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Accounting 1ACC 201 Accounting Week 2 Assignment 1-ACC201: Principles of Financial Accounting-Accounting 23-22Identifying product and period costsIndicate whether each of the following is a product or a period (selling and administrative) cost1. Transportation-in product cost2. Insurance on the office building period cost3. Office supplies product cost4. Costs incurred to improve the quality of goods available for sale- product cost5. Goods purchased for resale- product cost6. Salaries of salespersons period cost7. Advertising costs period cost8. Rent expense period cost9. Salary of the company president period cost3-25 2012 D&L EnterprisesCash $8,400Inventory $2,000Common Stock $8,000Retained Earnings $2,400 Assets = Liabilities+ Stockholders EquityEventCashAccts Rec.InventoryMdseInv.

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