In Trial Balance, Inventories is $130000. Entry 12/31 Based on inventory count, ending inventories amounted to $140,000.

Fantastic news! We've Found the answer you've been seeking!

Question:

In Trial Balance, Inventories is $130000.

Entry

12/31 Based on inventory count, ending inventories amounted to $140,000.

How do you journalize this

Posted Date: Jun 18, 2024 10:13 PM

See More Questions

Refer to Exercise 8-24. Del Spencers purchases clothing evenly throughout the month. All purchases are on account. On the first of every month, Jana Spencer, Dels wife, pays for all of the previous...
(a) Make suggestions about how the $355 might be integrated into the Johnsons budget by making reductions in certain expense categories. (b) If they cannot make room in their budget for a $355...
2. Monetary policy Problem 2.1. Consider a consumer who receives an income of Y at the beginning of each month and spends it evenly throughout the month on consumption. This income is put in a...
Consider the following selected accounts from the records ofNorth Shore Enterprises at December 31, 2021 Data tableRequirement 1. Prepare the closing entries for North Shore Enterprises at December...
Assume the following: Actual Variable Overhead$17,000Allocated Variable Overhead$18,000Budgeted Variable Overhead$17,500VOH Spending Variance Variance$1500 FVOH Efficiency Variance$500 U Prepare the...
The before-tax income for Sage Co. for 2025 was $102,000 and $72,700 for 2026. However, the accountant noted that the following errors had been made: 1. 2. 3. Sales for 2025 included amounts of...
In April, the vice president of sales of Petro Products asks the controller to prepare responsibility report for the performance evaluation of the manager of its Division Y, which is organized into...
Atlantic Manufacturing is considering a new investment project that will last for four years. The delivered and installed cost of the machine needed for the project is $23,545 and it will be...
The novice advanced practice psychiatric nurse working as a new nurse psychotherapist may become increasingly aware of being incompetent as progress is made. According to the Stages of Learning model...
PART 1: Required: Record the following transactions in the Transaction Analysis on the following tab: On April 1, Ed Hillary established Himalaya Travel Agency. The following actions were completed...

In Trial Balance, Inventories is $130000. Entry 12/31 Based on inventory count, ending inventories amounted to $140,000.

Question:

Expert Answer:

Students also viewed these accounting questions