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1 . Under a perpetual inventory system, is it necessary to take a physical inventory at the end of the period? Why or why not?
Under a perpetual inventory system, is it necessary to take a physical inventory at the end of the period? Why or why not? Short answer Assume that the RM sales made by Perniagaan Makmur for the month ended December were made to customers using credit cards. Prepare one entry in journal form to record these sales assuming that all of the credit card companies charge a percent fee. On August Kurnia Industries purchased RM of merchandise on credit. Terms of n are extended, and Phillips makes payment on August. a Prepare journal entries, assuming use of the perpertual inventory system. b Prepare the entry that would have been made had payment been made on August Assume that on July Perniagaan Kuntum had a sale totaling RM with a related cost of goods sold of RM Record this transaction in journal form assuming the perpetual inventory system was in use.
Under a perpetual inventory system, is it necessary to take a physical inventory at the end of the period? Why or why not? Short answer
Assume that the RM sales made by Perniagaan Makmur for the month ended December were made to customers using credit cards. Prepare one entry in journal form to record these sales assuming that all of the credit card companies charge a percent fee.
On August Kurnia Industries purchased RM of merchandise on credit. Terms of n are extended, and Phillips makes payment on August. a Prepare journal entries, assuming use of the perpertual inventory system. b Prepare the entry that would have been made had payment been made on August
Assume that on July Perniagaan Kuntum had a sale totaling RM with a related cost of goods sold of RM Record this transaction in journal form assuming the perpetual inventory system was in use.
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