What accounts are used for the adjustment for merchandise inventory?
Question:
What accounts are used for the adjustment for merchandise inventory?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
The accounts commonly used for the adjustment of merchandise inventory are 1 Merchandise Inventory T...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The Fashion Rack has a monthly accounting period. The firms chart of accounts is shown below and on the next page. The journals used to record transactions are the sales journal, purchases journal,...
-
Part 1: Complete the partial income statement for Pinnacle, a merchandising business. Part 2: Complete the partial income statement for Slope, a manufacturing business. Part 3: Explain the difference...
-
What accounts are used to record inventory purchase transactions under the periodic inventory system? Why aren't these accounts used in a perpetual inventory system?
-
Nu-Look Design, Inc., operated as a residential home improvement company. During calendar years 1996, 1997, and 1998, Ronald A. Stark not only was Nu-Looks sole shareholder and president but also...
-
Why are rapid thermal processing technologies generally advantageous?
-
The dot plots below show the use of energy over several ZIP Codes in the area surrounding Nashville, Tennessee, in February 2017. Interpret. I. *************** ***** we www + 1. Commercial Outdoor...
-
During 2007, Musicland Corporation and Jazz town Corporation reported net incomes of \($62,000\) and \($54,000\) , respectively. Each company had 10,000 shares ofcommon stock issued and outstanding....
-
Heritage Insurance Co. is a regional insurance company that began operations on January 1, 2012. The following transactions relate to trading securities acquired by Heritage Insurance Co., which has...
-
Solve the equation analytically. 1. log (3 x - 1) = log (4 - x )
-
What adjusting entry is entered on a work sheet when the ending merchandise inventory is less than the beginning value?
-
In what order should general ledger accounts be listed on a work sheet?
-
Rouse Builders builds starter homes in the fast-growing suburbs of Saint John, NB. Land and labour are cheap, and competition among developers is fierce. The homes are cookie- cutter, with any...
-
What is the entry for the current year's taxes on a common-sized income statement? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal...
-
Assume the following market as given below in the graph where S denotes the supply of the currency and D denotes the demand for the currency and the point E denotes the current foreign exchange rate...
-
Record the adiusting journal entries necessary, if any for the additional information (label the reference # for your entries. Complete the worksheet. taking into account the adiusting journal...
-
Consider the following table Bond Bond A Bond B Bond C Bond D Bond E Bond F Maturity 2 Yr 2 Yr 5 Yr 5 Yr 10 Yr 10 Yr Coupon 4% 7% 4% 7% 4% 7% Frequency Annual Semi-Annual Annual Semi-Annual Annual...
-
Let a probability space (N, F, ), a natural number n E N, and a function Xo: (N, F) (R, BRn) be given. The Dirac measure on BR concentrated at x Rn is defined by x (B): = [1, if x B, 0, if x BC,...
-
If the efficiency of a power plant goes up as the low temperature drops why do they not just reject energy at say 40oC?
-
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
-
Question 1 Job costing with single direct-cost category, single indirect-cost pool, law firm. Wigan Associates is a recently formed law partnership. Ellery Hanley, the managing partner of Wigan...
-
Calculate the accrued interest liability for the following note payable owed by Border's, Inc. as of December 31, 2021: Lender Centric Bank Date of Note 11/01/21 Principal $100,000 Annual Interest...
-
An analysis was performed using logistic regression relating incident breast cancer and calorie- adjusted total fat. For a 10 g/day increase in calorie adjusted total fat intake result in a...
Study smarter with the SolutionInn App