Presented below is information related to Poulsen Industries for the month of January 2020. Instructions a. Prepare
Question:
Presented below is information related to Poulsen Industries for the month of January 2020.
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 on hand Cost of goods sold Freight-out Insurance expense Rent expense Salaries and wages expense Sales discounts Sales returns and allowances Sales revenue € 12,000 € 21,600 20,000 59,000 8,000 13,000 378,000 21,000 208,000 7,000
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a Cost of Goods Sold 600 Inventory 600 b Sales Revenue 378...View the full answer
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Hassan Imtiaz
The following are details of my Professional Experience. Responsibilities Eight years of demanding teaching experience in the field of finance and business studies at Master’s Level. Completion of the given tasks within given time with quality and efficiency. Marketing professional with practical experience in and solid understanding of a diverse range of management applications, including market analysis, sales and marketing, team building and quality assurance. I have excellent skills to approach deal and sustain corporate clients / customers by demonstrating not only extraordinary communication and interpersonal skills but also high caliber presentation, negotiation and closing skills. Manage and follow up the day-to-day activities. Manage and co-ordinate the inventories. Fulfillment of all the tasks assigned.
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Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
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