Professor Guerrero's Blog

mguerrero@gmail.com

Co-author of East of Tiffany's, 13 short stories of a Latino immigrant's success in USA; a journey from West Harlem to Sutton Place and Park Avenue. Check out the reviews in Amazon.com and in Barnes and Noble.

on KINDLE on NOOK

My best seller as of now is

Titanes de la Filosofia

Professor Guerrero's Blog: Ch5 Accounting for Merchandising Operations Professor Guerrero's Blog: Book Reviews, Human Interest Articles, Accounting Lessons, and Writing Techniques

Book Reviews  

Books

Sentence Openers Book: FREE Lessons

Jane Austen  

Boethius: Consolation of Philosophy

How to Become a Writer  

Personal Finance  

Self Help, Wealth, & Learning

Greeks Romans Trojans  

Feminism  

Great Gatsby: Is Nick Gay?

All my books are now in NOOK

Ideas About the Novel is a prophetic book that all writers must own.

Ideas About the Novel by Ortega y Gasset - my translation $0.99


Next to Cervantes, Benito Perez Galdos is the most beloved Spanish writer of all times.

Torquemada at the Stake by Perez Galdos- my translation $0.99

Lazarillo of Tormes - my translation $0.99
Read it in contemporary English -- No Thous, Thees, or King James' Bible language. Transliterated into easy language for enjoyable reading pleasure. Because The Lazarillo of Tormes pointed a new direction, European and American literature benefited with titles that today are considered classics: Cervantes’ Rinconete and Cortadillo; Daniel Defoe’s Moll Flanders, Henry Fielding’s Tom Jones and Joseph Andrews; Tobias Smollett’s Roderick Random, and Peregrine Pickle; Voltaire’s Candide; Charles Dickens’ David Copperfield. And many others to include American works ranging from Mark Twain to Saul Bellow.

Dehumanization of Art by Ortega y Gasset - my translation $0.99
The Dehumanization of Art— is now a constant in music, literature, aesthetics, and philosophy, having come to mean that in post-modern times human-shaped mimesis (representation of the human) is irrelevant to art. According to Ortega, the arts don't have to tell a human story; art should deal with its own forms—and not with the human form.

Sentence Openers
How writers open their sentences makes prose agile, interesting, and athletic. This e-book teaches how to break the pattern Subject-verb-object--and discard openings that begin with nouns, articles, and pronouns.

East of Tiffany's - bestseller $5
With the city as its backdrop "East of Tiffany's" is filled with earnest tales of love, loss, faith, success and morality. While business terminology is interwoven throughout these short stories, it's not business lessons that I take away with me, but life lessons. The circumstances and the characters' profound humanity are relatable despite their zip code . "Luke, Postmodern Man" offers a new vista into faith, suffering, and love of neighbor. Way after you read this book you'll find yourself thinking about the various characters throughout the series of stories and will find solace in their unwavering faith. The narrators' ability to reflect on their hardships with such serenity is inspiring.



My writing was as flat as a sidewalk. And then I downloaded ...

Mary Duffy's Toolbox for Writers
After I purchased Mary's e-book I started to get 'A's in my essays and term papers! Every page is filled with great writing tips, training lessons, and wonderful useful writing skills! Not only do I write essays for college, but also short stories!
--IVONNIE Indrawan
College student
Sentence Openers on KINDLE

Sentence Openers on NOOK













All my books are now in KINDLE


Ideas About the Novel by Ortega y Gasset - my translation $0.99
Torquemada at the Stake by Perez Galdos- my translation $0.99
Lazarillo of Tormes - my translation $0.99
Dehumanization of Art by Ortega y Gasset - my translation $0.99
Sentence Openers
East of Tiffany's - bestseller $5


The most beloved short story from Spanish literature
All my books are in NOOK $0.99 or in Amazon KINDLE $0.99








All my books are now in NOOK

Ideas About the Novel is a prophetic book that all writers must own.
Ideas About the Novel by Ortega y Gasset - my translation $0.99

Next to Cervantes, Benito Perez Galdos is the most beloved Spanish writer of all times.

Torquemada at the Stake by Perez Galdos- my translation $0.99

Lazarillo of Tormes - my translation $0.99
Read it in contemporary English -- No Thous, Thees, or King James' Bible language.

Dehumanization of Art by Ortega y Gasset - my translation $0.99
The Dehumanization of Art— is now a constant in music, literature, aesthetics, and philosophy, having come to mean that in post-modern times human-shaped mimesis (representation of the human) is irrelevant to art.

Sentence Openers
How writers open their sentences makes prose agile, interesting, and athletic.

East of Tiffany's - bestseller $5
With the city as its backdrop "East of Tiffany's" is filled with earnest tales of love, loss, faith, success and morality.



My writing was as flat as a sidewalk. And then I downloaded ...

Mary Duffy's Toolbox for Writers
After I purchased Mary's e-book I started to get 'A's in my essays and term papers!
--Ivonnie Indrawan
College student
Sentence Openers on KINDLE

Sentence Openers on NOOK





Available in KINDLE $0.99


Available in KINDLE $0.99

Tuesday, September 2, 2008

Ch5 Accounting for Merchandising Operations

What are the two forms of the balance sheet?
The two forms of the balance sheet are Account form and Report form. The account form resembles the basic format of the accounting equation, with assets on the left side and the liabilities and owner’s equity sections on the right side. The report form shows the assets, liabilities, and owner’s equity in a downward sequence.

What are administrative expenses?
Administrative expenses are general expenses incurred in the administration of the business.

How do you find cost of Goods sold in the Periodic System?
We find cost of merchandise sold by subtracting the ending inventory from cost of merchandise available for sale.

What is a credit memorandum?
A credit memo is a form used by a seller to inform the buyer of the amount the seller proposes to credit to the account receivable due from the buyer.

What is a debit memorandum?
A debit memo is a form used by a buyer to inform the seller of the amount the buyer proposes to debit to the accounts payable due the seller.

Who pays for the transportation or freight cost under FOB destination?
The seller pays for the freight cost (debit Transportation out or delivery expense).

Who pays for the transportation or freight costs under FOB shipping point?
The buyer pays for the freight cost (debit Transportation In or Freight In).

How do you find gross profit?
We find gross profit by subtracting cost of merchandise sold from net sales.

How do you find income from operations?
We find Income from Operations by subtracting the Operating Expenses from Gross Profit.

What is inventory shrinkage?
The amount by which the merchandise for sale, as indicated by the balance of the merchandise inventory account, is larger than the total amount of merchandise counted during the physical inventory.

What is an invoice?
An invoice is a bill that the seller sends to the buyer.

What kind of account is merchandise inventory?
Merchandise Inventory is an asset account that shows the merchandise on hand (not sold) at the end of the accounting period.

What are the two forms of Income Statement?
The two forms of the income statement are: single-step income statement and multiple-step income statement.

What is the periodic method?
The periodic method is the inventory system in which the inventory records do not show the amount available for sale or sold during the period. When merchandise is purchase we debit the Purchases account rather than the Merchandise Inventory account.

What is the perpetual method?
The perpetual method is the inventory system in which each purchase and sale of merchandise is recorded in an inventory account.

What are Purchases Returns and Allowances?
From the buyer’s side, Purchase returns and allowances are the amount owed to the buyer for merchandise returned because of defects or damages.

What are Purchases Discounts?
Purchase discounts are the percentages taken by the buyer for early payment of an invoice.

What are Sales Discounts?
Sales discounts are cash discounts that the seller offers to their customers to give them an incentive to pay their invoices right away.

What are Sales Returns and Allowances?
Sales Returns and Allowances are given by the seller (to the buyer) because of damaged merchandise.

What are selling expenses?
Selling Expenses are expenses that are incurred directly in the selling of merchandise.

What are trade discounts?
Trade discounts are discounts from the list price in published catalogs or special discounts offered to certain classes of buyers.

What is Gross Profit Margin?
It is the percentage of each dollar remaining once the company has paid for the cost of the merchandise sold. The formula is:

GPM = Gross Profit / Net sales

What is Profit Margin?
The Profit Margin the percentage of earnings generated from revenue. It provides an idea of the firm’s pricing, cost structure, and efficiency.

PM = Net income / Net sales

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Ch1 Accounting in Action

Ch2 Recording Process

Ch3 Adjusting the Accounts

Ch4 Completing the Accounting Cycle

Ch5 Merchandising Operations

Ch6 Inventories

Ch7 Accounting Information Systems

Ch8 Internal Control and Cash

Ch9 Accounting for Receivables

Ch10 PP&E, Natural Resources, and Intangible Assets

Ch11 Current Liabilities and Payroll


Ch12 Partnerships

Ch13 Corporations

Ch14 Corporations:Dividends, RE

Ch15 Long Term Liabilities

Ch16 Investment

Ch17 Statement of Cash Flows

Ch18 Financial Statement Analysis

Plato and Accounting

Price/Earnings Ratio

Plant Assets

Luca Pacioli and DaVinci


The secrets of 'no-doze' prose:
Mary Duffy's Sentence Openers




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Professor Guerrero's Blog

Co-author of East of Tiffany's, 13 short stories that will warm your heart - See 101 reviews in Amazon.com and 37 in Barnes and Noble.

on KINDLE on NOOK

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