Presented below is information related to Hoerl Co. for the month of January 2017. Instructions (a) Prepare

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Presented below is information related to Hoerl Co. for the month of January 2017.

Instructions
(a) Prepare the necessary adjusting entry for inventory.
(b) Prepare the necessary closingentries.

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Mar 02, 2015 09:31 AM

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Presented below is information related to Hoerl Co. for the month of January 2017. Instructions (a) Prepare

Question:

Ending inventory per $12,000 20,000 55,000 10,000 13,000 380,000 Insurance expense 21,600 Rent expense perpetual records Ending inventory actually on hand Cost of goods sold Freight-out Salaries and wages expense Sales discounts Sales returns and allowances 21,000 218.000 7,000 Sales revenue

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a Cost of Goods Sold 600 Inventory 600 b Sales Revenue 380000 Income Summary ...View the full answer

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