Chapter 10 Problem 10-30 LO 1012,1015 You are engaged to oudit the Ferrick Corporation for the year ended December 31, 2021. Only merchandise shipped by the Ferrick Corporation to customers up to and including December 30,2021 , has been eliminated from inventory. The inventory as determined by physical inventory count has been recorded on the books by the company's controller. No perpetual inventory records are maintained. Al sales are made on an FOB-shipping point basis. You are to assume that all purchase involces have been correctly recorded. The following ilsts of sales invoices are entered in the sales journal for the months of December 2021 and January 2022 , respectively. Required: You are to ensure that there is proper cutoff of sales and inventory for items a through h above. If an item is not properly recorded. prepare the necessary adjusting entries. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first occount fleld. lequired: Ou are to ensure that there is proper cutoff of sales and inventory for items a through h above. If an item is not properly recorded, repare the necessary adjusting entries. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 3 4 5 6 7 B Record the adjusting entry for goods shipped on December 31 ,included in the physical inventory at the end of last fiscal year. Note: Enter debits before credits. Journal entry worksheet 2 4 5 6 7 8 Record the adjusting entry for goods shipped on December 31 , included in the physical inventory at the end of last fiscal year. Note: Enter debits before credits. Journal entry worksheet 4 5 6 7 8 Record the sale of merchandise for sales invoice dated December 31, 2021, wherein the goods were shipped on December 13, 2021. Note: Enter debits before credits. Journal entry worksheet 78 Record the sale of merchandise on December 29, 2021, wherein goods will be shipped on December 30, 2021. Note: Enter debits before credits: Journal entry worksheet Record the reversal of sale for sales involce dated December 31,2021 , wherein goods will be shipped on January 9,2021. Note: Enter debits before credits. Journal entry worksheet Record the shipment of merchandise to the consignee. Note: Enter debits before credits. Journal entry worksheet Record the sale of merchandise for sales invoice dated December 31, 2022, wherein the goods will be shipped on December 30,2022. Note: Enter debits before credits. Journal entry worksheet Record the sale of merchandise for sales invoice dated January 3, 2022, wherein the goods will be shipped on December 31, 2022. Note: Enter debits before credits. Journal entry worksheet Record the sale of merchandise for sales invoice dated January 3, 2022 goods being shipped on December 31,2022. Note; Enter debits before credits
