Presented below is information related to Hoerl Co. for the month of January 2020. Instructions a. Prepare
Question:
Instructions
a. Prepare the necessary adjusting entry for inventory.
b. Prepare the necessary closing entries.
Transcribed Image Text:
Ending inventory per perpetual records Ending inventory actually Insurance ex pense Rent expense Salaries and wages expense Sales discounts Sales returns and allowances $ 12,000 $ 21,600 20,000 55,000 21,000 on hand 10,000 Cost of goods sold Freight-out 218,000 13,000 380,000 7,000 Sales revenue
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a Cost of Goods Sold 21600 21000 600 Inventory 600 b Sales R...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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