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frutty [35]
3 years ago
15

If the physical count of the inventory revealed $158,000 of merchandise on hand and the inventory records reported $163,000, wha

t would be the necessary adjusting entry to record inventory shrinkage?
Business
1 answer:
krek1111 [17]3 years ago
6 0

The necessary adjusting entry to record inventory shortage would be:

“Cost of Merchandise Sold debit $5,000; Merchandise Inventory credit $5,000.”

Cost of Merchandise Sold is the cost of goods and services that correspond to sales made to customers. In this case, we need to decrease ending inventory by the quantity of these goods ($5,000) that either were shipped to customers or assigned as being customer-owned under a certain agreement. Meanwhile, the merchandise inventory is the cost of goods on hand and is available for sale ($5,000).

 

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$170

Explanation:

Given the following information about Munster company:

Net inflow from operating ACTIVITIES = $200

Net outflow from investing ACTIVITIES =  $300

Net outflow from financing ACTIVITIES = $50

Ending balance in cash = $20

BEGINNING BALANCE :

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____ is a short-term debt instrument issued only by well-known, creditworthy firms and is normally issued to provide liquidity o
monitta

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Commercial Paper.

Explanation:

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