Presented is information related to Taylor Co. for the month of January 2006. Instructions (a) Prepare the

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Presented is information related to Taylor Co. for the month of January 2006.

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Instructions

(a) Prepare the necessary adjusting entry for inventory.

(b) Prepare the necessary closing entries.

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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

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

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Question Posted: Jun 10, 2024 01:08 AM

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Presented is information related to Taylor Co. for the month of January 2006. Instructions (a) Prepare the

Question:

Ending inventory per perpetual records Salary expense $ 61,000 $ 21.600 Sales discounts 10.000 Ending inventory actually on hand Sales returns and allowances 13,000 21,000 Sales 350,000 Cost of goods sold 208.000 Freight-out 7.000 Insurance expense 12.000 Rent expense 20,000

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Financial Accounting Text Only

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