The beginning inventory of SoCal Wholesalers was $121,000, and the ending inventory is $116,500. What entries are
Question:
The beginning inventory of SoCal Wholesalers was $121,000, and the ending inventory is $116,500. What entries are needed at the end of the fiscal period to adjust Merchandise Inventory?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Answer Since no data regarding Amount of purchases are provided the question i...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
The beginning inventory of Norcal Wholesalers was $141,000, and the ending inventory is $118,519. What entries are needed at the end of the fiscal period to adjust Merchandise Inventory?
-
The beginning inventory of a merchandising business was $121,000, and the ending inventory is $102,519. What entries are needed at the end of the fiscal period to adjust Merchandise Inventory?
-
The beginning inventory of merchandise at Martin Co. and data on purchases and sales for a two-month period are as follows: Instructions 1. Record the inventory, purchases, and cost of goods sold...
-
Write an application to simulate the rolling of two dice. The application should use an object of class Random once to roll the first die and again to roll the second die. The sum of the two values...
-
We saw in Section 10.1 that the undiscounted risk-neutral expected stock price equals the forward price. We will verify this using the binomial tree in Figure 11.4. a. Using S = $100, r = 0.08, and ...
-
a. What are the properties of the normal distribution? Why is it called "normal"? b. What is the meaning of a positive (+) Z score? What is the meaning of a negative (-) Z score?
-
Diagnostic Services Inc. (DSI) is a new company. It has been in business for only one year, offering diagnostic services to physicians in the Tampa/St. Petersburg, Miami, and Orlando markets. DSI...
-
Downtown Health Clinic needs to order influenza vaccines for the next flu season. The Clinic charges its patients $15.00 per vaccination and each dose of vaccine costs the clinic $4.00 to purchase....
-
1. Perform the following conversions: 2. a. 428 cm to hm (1 mark) b. 2748 yd to km (2 marks) c. 7.0 m to ft (2 marks) a. Calculate the surface area of a rectangular prism which is 2 cm 4 cm x 6 cm....
-
The room temperature of an 11 m 2 room is to be controlled by varying the power of an indoor radiator. For this specific room, the open-loop transfer function from radiator power, Q (s), to...
-
Based on the information below, record the adjusting journal entries that must be made for Kisling Distributors on June 30, 20X1. The company has a June 30 fiscal year-end. Use 18 as the page number...
-
What is Form 941? How often is the form filed? Data from in 941 Form 941 for 20X1: Employer's QUARTERLY Federal Tax Return Department of the Treasury Internal Revenue Service Employer identification...
-
Calculate the number of particles in each of the following. (a) 1.50 g potassium, K (b) 0.470 g oxygen, O 2 (c) 0.555 g silver chlorate, AgClO 3 .
-
A 100 kg sprinter pushes against the blocks with a force of -2500 N at an angle of 45 to the horizontal. a. What is the horizontal reaction force acting on the sprinter? b. What is the vertical...
-
A sprinter is pushing against the starting blocks with one foot with a backward horizontal force of 650 N and a downward vertical force of 900 N. a. What is the resultant force generated by the...
-
Muscle biceps brachii exerts a force of 200 N on the radius while the muscle is oriented 50 with respect to the proximal surface of the radius. What is the amount of force which is oriented parallel...
-
1. A triathlete swims 750 m South, rides 20 km East, and runs 5 km North, in that order. How far from the original starting position, as the crow flies, was the athlete after completing the above 3...
-
Consider the force of the vasti muscles acting on the tibia via the patella tendon. A force of 750 N is acting at an angle of 15 (with respect to the surface of the tibia). a. What is the torque...
-
Let R be the relation represented by the matrix Find the matrices that represent a) R2. b) R3. c) R4. MR=10 0 11.
-
The relationship described in question 7 does not always appear to hold. What factors, besides the number of firms in the market, might affect margins?
-
What is the value of having a description for each general journal entry?
-
What is the value of having a description for each general journal entry?
-
What procedure is used to record an entry in the general journal?
-
Derive Roger's Engel curve for B. Recall that Roger's utility function is Cobb-Douglas, U =B0.3370.67, his income is Y, the price of B is PB, and the price of Z is pz. Roger's Engel curve for B is Y...
-
Bryant Smith needs to triple his savings in 5 years. What interest rate per year (compounded annually) would he need to earn?
-
you need to assemble data for a country of your choice for at least 6 years, including 2018. You can use World Bank Open Data or any other credible source. You need to collect data for the following...
Study smarter with the SolutionInn App