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4 years ago

May 23 Cash 22,000 Common Stock 22,000 This journal entry will

Business

1 answer:

Yuri [45]4 years ago

4 0

Answer:

The Journal entry will Increase cash and as well Increase Common stock

Explanation:

Based on the information given where we have Cash of the amount of $22,000 and Common Stock of the amount $22,000 on May 23 this means that the journal entry will Increase cash and as well Increase Common stock. And since cash is an asset this mean that it will increased by debit While Common stock will increased by Credit becauee Common stock is a Capital .

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<h3>What is the specific identification method?</h3>

The specific identification method is an inventory method that identifies specific inventories sold and uses their specific costs in valuing the cost of goods sold.

<h3>Data and Calculations:</h3>

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Thus, using a periodic specific identification, Delta Diamonds' Inventory after the December 24 sale is <u>$2,250</u>.

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