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Jobisdone [24]
3 years ago
6

Salem ​Computers Merchandise Inventory account at​ year-end is showing a balance of $ 44 comma 000. The physical count of invent

ory came up with $ 42 comma 800. Journalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system.
Business
1 answer:
strojnjashka [21]3 years ago
7 0

Answer:

Explanation:

The journal entry is shown below:

Cost of goods sold A/c Dr $1,200

           To Merchandise inventory A/c $1,200

(Being the shrinkage inventory is recorded)

The computation is shown below:

= $44,000 - $42,800

= $1,200

We simply debited the costs of goods sold and credited the merchandise inventory so that the correct posting can be done

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hardworking personal

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2 years ago
A machine that cost $36,000 and on which $26,500 of depreciation had been recorded was disposed of for $10,200. Indicate whether
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Answer:

The Gain of $700.

Explanation:

For the computation of gain or loss first we need to find out the book value which is shown below:-

Book value = Purchase cost - Accumulated Depreciation

= $36,000 - $26,500 = $9500

Gain or Loss = Selling Price - Book Value

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So, there is a

The Gain of $700 as selling price is more than the book value

Therefore for computing the gain or loss we simply applied the above formula.

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3 years ago
A plant asset with a five-year estimated useful life and no residual value is sold at the end of the second year of its useful l
Alinara [238K]

Using the sum-of-the-years'-digits method of depreciation instead of the double-declining balance method of depreciation would affect a gain or loss on the sale of the plant asset by decreased gain or increase d loss.

<u>Explanation: </u>

Depreciation is indeed an accounting strategy for the distribution of costs over the lifespan or life expectancy in a financial or material resource.  

Depreciation shows the amount of money used for an asset. Depreciating capital allows businesses to earn profits from an estate while investing a part of its value on the property every year. It can significantly affect earnings if not taken into account.

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3 0
4 years ago
which among these is not a key skills in management .(a) technical skills (b) human skills (c) writing skills​
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A key skill that is not in management is writing skills.

Managerial skills are the ability and knowledge of those in managerial positions to perform specific management tasks. According to Robert Katz, a successful management process requires three different types of abilities.

Technical skills - They enable the management to know how to employ various strategies to accomplish their goals.

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Thus these are some Management skills.

To learn more about Management skills, refer: brainly.com/question/28072629

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7 0
2 years ago
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