The trial balance for a commercial vendor prior to the following journal entries is as follows. The
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Question:
- The trial balance for a commercial vendor prior to the following journal entries is as follows. The physical inventory count at the end of the accounting year reveals $28,000 of inventory on hand. (Assume a perpetual inventory system.)
debt | Credit | |||
advance | $12,600 | |||
accounts receivable | 2400 | |||
Re-Help Hire | 800 | |||
goods inventory | 30.000 | |||
accounts payable | 42000 | |||
Salaries Payable | 1.000 | |||
Notes | 800 | |||
yung capital | 13.800 | |||
yung, withdrawal | 1.000 | |||
sales revenue | 96.000 | |||
cost of goods sold | 23.000 | |||
Submit the expense | 2.000 | |||
Salary expenses | 21.000 | |||
Rent | 14.000 | |||
selling expense | 8.500 | |||
you are lying | 500 | |||
Total | 1.15.800 | 1.15.800 | ||
Prepare the journal entry and prepare all closing entries to post the stock contraction
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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