Presented below is information related to Poulsen Industries, A/S for the month of January 2017. Instructions (a)

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Presented below is information related to Poulsen Industries, A/S for the month of January 2017.

Instructions
(a) Prepare the necessary adjusting entry for inventory.
(b) Prepare the necessary closing entries.

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Financial Accounting

ISBN: 978-1118978085

IFRS 3rd edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 07, 2017 11:07 AM

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Presented below is information related to Poulsen Industries, A/S for the month of January 2017. Instructions (a)

Question:

12,000 20,000 59,000 8,000 13,000 378,000 Ending inventory per Insurance expense 21,600 Rent expense Ending inventory actually Salaries and wages expense Sales discounts Sales returns and allowances on hand 21,000 208,000 Cost of goods sold Freight-out 7,000 Sales revenue

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a Cost of Goods Sold 600 Inventory 600 b Sales Revenue 378000 Income Summary ...View the full answer

Financial Accounting

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