Question
Please make the following adjustments for the month of February for Sokka's Cactus Juice Shack. The food inventory had a beginning balance of $20,000. During
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Please make the following adjustments for the month of February for Sokka's Cactus Juice Shack. The food inventory had a beginning balance of $20,000. During the month, a total of $30,000 worth of food was purchased, and the ending inventory at the end of the month was $10,000.
Debit Food Inventory $40,000, credit Cost of Food Sold $40,000
Debit Cost of Food Sold $30,000, credit Food Inventory $30,000
Debit Cost of Food Sold $40,000, credit Food Inventory $40,000
Debit Food Inventory $30,000, credit Cost of Food Sold $30,000
Please make the following adjustments for the month of February for Sokka's Cactus Juice Shack. The food inventory had a beginning balance of $20,000. During the month, a total of $30,000 worth of food was purchased, and the ending inventory at the end of the month was $10,000.
| Debit Food Inventory $40,000, credit Cost of Food Sold $40,000 | ||
| Debit Cost of Food Sold $30,000, credit Food Inventory $30,000 | ||
| Debit Cost of Food Sold $40,000, credit Food Inventory $40,000 | ||
| Debit Food Inventory $30,000, credit Cost of Food Sold $30,000 |
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Auditing And Assurance Services
Authors: Alvin A. Arens . Randal J. Elder . Mark S. Beasley
18th Global Edition
1292448989, 978-1292448985
