Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

still don't understand these practice questions.... help!!! 0 Band made the following four inventory purchases in ne Unit Purchased Total Amount Value June 1 150

still don't understand these practice questions.... help!!!
image text in transcribed
0 Band made the following four inventory purchases in ne Unit Purchased Total Amount Value June 1 150 Units 51040 ne 10 200 Units 51560 June 15 200 Units 51.680 une 28 150 Units 51320 Total 700 Units Total $5.600 (Total In Value A physical count of merchandise Inventory on June 30 reveals that there we only 150 units on hand. Odin uses the FIFO inventory method what is the value of the ending inventory? 31.320 $1.00 D$1.200 51.560 Question 9 On August 1st, Shiva, Inc. paid $27.600 to Landlord Realty for 12 months rent beginning on September 1st. The company did the correct recording on August ist." financial statements are prepared on December 31st, the adjusting journal entry AJE) to be made by Shiva is Increase Rent Expense $11.500, Decreate President $11.500 Increase Rent Expense $27,600. Decrease Cash 527600 Increase Rent Expense 59.200, Decrease Prepaid Rent $9200 increase Rent Expense $27.600. Decrease Prepaid Rent $27.600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions