Question: prepare a 1 8 column trial balance for this Becsuse Natalic has had such a successful first few months, she is considering other opportunitles to
prepare a column trial balance for this
Becsuse Natalic has had such a successful first few months, she is considering other opportunitles to develop her business. One distributor of these fine mixers in her state. The current cost of a mixer is approximately $ and Natalie would sell each one for $ Natale comes to you for advice on how to account for these mikers. Each appliance has a serial number and can be easily Identified.
Natalie asks you the following questions.
"Would you consider these mixers to be inventory or should they be classifed as supplies or equipment?"
Tvelearned allttle about keeping track of inventory using both the perpetual and the periodic systems of accounting for Inventory Which system do you tink is better? Which one would you recommend for the type of irventory that i want to sell?
"How often do I neod to count inventory if I maintain it using the verpetual system? Do I need to count imventory at all"
The trial balance for cookie creations as on December is as follows:
tabletableCOOKIE CREATIOPostClosing Trial BaDecember AccountDebit,CreditCash$Accounts Receivable,SuppliesPrepaid Insurance,ExEquipmentAccumulated DepreciationEqulpment,,$trial balance for this
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
