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Can I get help with sloving E 5-8? Merchandising Operations (a) Prepare the adjusting entry necessary as a result of the physical count. (b) Prepare
Can I get help with sloving E 5-8?
Merchandising Operations (a) Prepare the adjusting entry necessary as a result of the physical count. (b) Prepare closing entries. Instructions below is information related to Garland Co. for the month of January 2019 $12,000 20,000 55,000 10,000 13,000 380,000 ES-8 Presented Ending inventory per Ending inventory actually Cost of goods sold Insurance expense Salaries and wages expense Sales returns and allowances perpetual records $ 21,600Rent expense on hand 21,000 Sales discounts 218,000 Freight-out 7,000 Sales revenue Instructions (a) Prepare the necessary adjusting entry for inventory. (b) Prepare the necessary closing entries. E5-9 Presented below is information for Furlow Company for the month of March 201 32,000 8,000 Sales returns and allowances13,000 380,00 Cost of goods sold $212,000 Rent expense 7,000 Sales discounts 6,000 Freight-out Insurance expense Salaries and wages expense Instructions (a) Prepare a multiple-step income statement. (b) Compute the gross profit rate 58,000 Sales revenue E5-10 In its income statement for the year ended December 31, 2019, Lemere Compa reported the following condensed data. Operating expenses$ 725,000 Cost of goods sold1,289,000 Interest expense Interest revenue Loss on disposal of plant assets $ 28,00 17,00 70,000 Net sales Other comprehensive income 2,200,0 8,30 nstructions a) Prepare a multiple-step income statementStep by Step Solution
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