1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mrs_skeptik [129]
2 years ago
7

Sunland Company had the following account balances at year-end: Cost of Goods Sold $60,410; Inventory $15,010; Operating Expense

s $29,380; Sales Revenue $126,580; Sales Discounts $1,340; and Sales Returns and Allowances $2,090. A physical count of inventory determines that merchandise inventory on hand is $12,360.Prepare the adjusting entry necessary as a result of the physical count.
1. Account Titles and Explanation
Debit Credit
2. Account Tiles and Explanation
Debit Credit
Business
1 answer:
charle [14.2K]2 years ago
5 0

Answer and Explanation:

The journal entry is shown below:

Cost of goods sold Dr $2,650   ($15,010 - $12,360)

           To Inventory $2,650

(Being the cost of goods sold)

By recording this we debited the cost of good sold as it increased the expenses and credited the inventory as it decreased the assets so that the correct recording and posting could be done

You might be interested in
What are the 3 goals of an economy?
forsale [732]
To maintain a strong Economy the federal government seeks to accomplish three policy goals stable prices , full employment and economy growth in addition to these three policy goals the federal government has other objectives to maintain sound economy policy
8 0
3 years ago
The forecast for your company’s headquarters predicts the area hit head on by a hurricane,. The company sends you to their cold
zubka84 [21]

Answer:

The correct answer is <em>The site will have all of the company’s applications.</em>

Explanation:

It is the only way to ensure a minimum or zero level of inactivity, because otherwise people will not have the necessary tools to execute their work.

It is hardly obvious that due to the nature of the tasks it is impossible to try to adapt a space that is not adequate to execute them, since the conditions must be the necessary ones to guarantee it.

5 0
3 years ago
If u.s. firms attempt to use covered interest arbitrage to capitalize on the high argentine peso interest rate, what forces shou
lesya [120]

Answer:

The answer is: Downward pressure on the Argentine peso's forward rate

Explanation:

Forward rates are interest rates applicable to financial transactions that will happen in the future.

Currently the Argentine peso is yielding a high interest rate. If American firms try to benefit from this by investing in financial transactions involving Argentine pesos, they will eventually put downward pressure to reduce Argentine peso's forward rate. As the demand for Argentine pesos increase, they will yield lower interest rates.

7 0
3 years ago
If something happens to alter the quantity supplied at any given price, then.
morpeh [17]

Change in quantity supply will lead to a shift in supply curve.

<h3>What is change in supply?</h3>

Change in supply lead to a shift in the supply curve either to the left or right.

This occur in the price to quantity relationship which defines a supply curve.

This change often makes the supply curve becomes steeper and flatter.

Therefore, Change in quantity supply will lead to a shift in supply curve either to right or left.

Learn more on supply curve here,

brainly.com/question/1456933

3 0
1 year ago
True or false: being an actor is required for a director's complete training.
gayaneshka [121]
False. 

In theatre, a director's role and training is independent and separate from that of an actor. The two roles are distinct and do not require participation as the other in order to complete each. A director's training will be complete through activity other than working or being an actor in a production. 
4 0
2 years ago
Other questions:
  • The following information relates to next year's projected operating results of the Children's Division of Grunge Clothing Corpo
    13·1 answer
  • Defining the communications objectives to be accomplished and then, estimating the costs associated with the performance of the
    13·1 answer
  • Jodys daughter has been preparing for a school spelling bee by studying several hours a day. jody feels that by encouraging this
    7·1 answer
  • Asymmetric information in a market transaction occurs when there is unequal knowledge possessed by the multiple choice seller an
    15·1 answer
  • Factors involved in importing​
    8·1 answer
  • "Convergence occurs as ________ is sought, such as for the EC countries, and as competitive pressures in free-trade zones, such
    15·1 answer
  • To be effective, your goals must be balanced in the following areas:a. Career, Fun, Health, Relationship, Spiritualityb. Environ
    11·1 answer
  • Elaine is very good at what she does, but she is constantly stressed by internal deadlines assigned to co-workers, obligatory me
    8·1 answer
  • To which of the following would a
    11·1 answer
  • The annual global growth rate of the human population peaked in the ________ and has been declining ever since.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!