Presented below is information related to Hurley Co. for the month of January 2012. Instructions(a) Prepare the

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Presented below is information related to Hurley Co. for the month of January 2012.

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

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Accounting Principles

ISBN: 978-0470534793

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Oct 24, 2011 08:01 AM

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Presented below is information related to Hurley Co. for the month of January 2012. Instructions(a) Prepare the

Question:

Ending inventory per Insurance expense $ 12,000 perpetual records Ending inventory actually on hand Cost of goods sold Freight-out $ 21.600 Rent expense Salaries and wages expense Sales discounts Sales returns and allowances Sales revenue 20,000 55.000 21,000 218.000 10,000 13,000 380,000 7.000

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

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