Tim Jarosz Company had the following account balances at year-end: Cost of Goods Sold $60,000 and Inventory

Question:

Tim Jarosz Company had the following account balances at year-end: Cost of Goods Sold $60,000 and Inventory $15,000. A physical count of inventory determines that merchandise inventory on hand is $13,600.


Instructions
Prepare the adjusting entry necessary as a result of the physical count.

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

Step by Step Answer:

Related Book For  book-img-for-question

College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

Question Posted: