Recent Tutoring Session Reviews
"He completed practice exam problem #s 11, 13, 14, and 16. These problems related to weighted average method-equivalent units and the physical flow of resources, cost-volume profit analysis, and cost estimation specifically the high-low method. The student will continue to study all of the formulas related to cost estimation, cost-volume profit, equivalent units, predetermined manufacturing overhead rate, COGM, and COGS."
"Today the student and I went over LIFO and FIFO methods. She sent me the chapter notes ahead of time, so we went through the concepts, reviewed examples, and reviewed the chapter problems. Mainly it was about the effects on the balance sheet and income statement and ratios when you change from LIFO to FIFO. Next week we will go over depreciation and long-lived assets."
"We worked on recording the journal and ledger for a new business. Some of the more difficult aspects were prepaid accounts. She'll work on the rest of her assignment on her own and we'll follow up this weekend."