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cost control exercise 1, Study Guides, Projects, Research of Cost Accounting

Virginia Polytechnic Institute and State University (Virginia Tech)Cost Accounting
Prof. C. Cole

cost control exercise 1, in cost control

Typology: Study Guides, Projects, Research

2025/2026

Uploaded on 02/25/2026

buse-konur
buse-konur 🇺🇸

1 document

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bg1
Assets 47.8 =
Account Balances 40 0 7.8 0
Assets
Transaction
Cash
$20 from savings 20
borrow $30 from mom 30
buy lemons & sugar -47 47
make lemonade -47 47
sell lemonade 100
-39.2
rent+ads+glasses -33
payback mom -30
close books
Raw
Material
Inventory
Finished
Goods
Inventory
Accounts
Receivable
pf3

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Assets 47.8 = Account Balances 40 0 7.8 0 Assets

Transaction

Cash

$20 from savings 20

borrow $30 from mom 30

buy lemons & sugar -47^47

make lemonade -47^47

sell lemonade 100

rent+ads+glasses -

payback mom -

close books

Raw Material Inventory Finished Goods Inventory Accounts Receivable

20 Liabilities + Equities 0 0 0 20 27.8 -27. Liabilities Owner's Equities 20 30 100 Revenue -39.2 COGS -33 Expense

  • 27.8 -27.8 End of Period -27. Prepaid Expense Accounts Payable Notes Payable Paid in Capital Retained Earnings Earnings this period Comments (Rev, Exp, COGS)