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ASAP!! please Show Me How Print Item Adjusting entries Hahn Flooring Company uses a perpetual Inventory system. Journalize the December 31 adjusting entries based upon
ASAP!! please Show Me How Print Item Adjusting entries Hahn Flooring Company uses a perpetual Inventory system. Journalize the December 31 adjusting entries based upon the following: a. The inventory account has a balance of 51,331,100, while physical inventory indicates that $1,300,900 of merchandise is on hand. Assume any shrinkage is a normal amount. If an amount box does not require an entry, leave it blank Dec. 31 Cost of Goods Sold .X 1,331,100 x Inventory M 1,300,900 X Feedback Check My Work a. Inventory shrinkage is recorded by decreasing merchandise inventory and increasing cost of merchandise sold for the difference between the perpetual inventory records and the Inventory on hand b. Sales returns of $146,200 and merchandise returns of $77,000 are estimated for the current year's sales. If an amount box does not require an entry, leave it blank. Dec. 31 Sales 88 Customer Refunds Payable Estimated Returns Inventory Cost of Goods Sold Feedback Asset turnover ratio Financial statement data for years ended December 31, 2013 and 20Y2, for Edison Company follow: 20Y3 2012 Sales $1,680,000 $1,370,000 Total assets: Beginning of year 750,000 620,000 End of year 850,000 750,000 a. Determine the asset turnover ratio for 20Y3 and 2072. Round answers to one decimal place. 20Y3 2012 Asset turnover b. Is the change in the asset turnover ratio from 2042 to 20Y3 favorable or unfavorable
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