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Tutor profile: Lauren J.

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Lauren J.
Financial Planning at BMW | Recent college graduate with Accounting Degree
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Questions

Subject: Pre-Algebra

TutorMe
Question:

Find x: 3x+8=14

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Lauren J.
Answer:

To solve this equation, you need to separate x. 3x+8=14 -8 -8 (subract 8 fromboth sides) 3x=6 /3 3/ (divide both sides by 3) x=2 (you have now found the value of x)

Subject: Accounting

TutorMe
Question:

Complete the following journal entry: A customer purchases $500 worth of backpacks on credit. The backpacks cost is $275.

Inactive
Lauren J.
Answer:

Accounts Receivable 500 Cost of Goods Sold (COGS) 275 Inventory 275 Sales Revenue 500 Explanation: When you see goods and the customer receives them, you can book revenue for the amount that the customer owes. Revenues are increased with a credit. Since the customer paid on credit, you have not yet received cash. The customer owes you $500 in the form of an asset, which is increased with a debit. The backpacks are on your inventory list for the amount it cost you to purchase them. This is the $275. When you sell them, you will empty out the inventory which is an asset. You decrease your asset with a debit. When you sell items, you must incur an expense for how much the goods cost you. This is called Cost of Goods Sold. This expense is increased with a debit.

Subject: Algebra

TutorMe
Question:

Solve for x and y in the following sequence of equations: 2x+3y=21 2y=x+7

Inactive
Lauren J.
Answer:

To solve a sequence of equations you need to separate out one variable. Step 1: subtract 7 from both sides to separate x 2y=x+7 -7 -7 2y-7=x Step 2: Plug in this equation into the first equation. 2(2y-7)+3y=21 Step 3: solve this equation to separate out the y-variable 4y-14+3y=21 +14 +14 4y+3y=35 7y=35 y=5 Step 4: Plug y into the second equation to solve for x 2y-7=x 2(5)-7=x 10-7=x 3=x Final Answer: x=3, y=5

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