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Sergeu [11.5K]
3 years ago
9

St. Book​ Shop's unadjusted Merchandise Inventory at June ​30, 2018 was $ 5 comma 600. The cost associated with the physical cou

nt of inventory on hand on June ​30, 2018​, was $ 5 comma 500. In​ addition, Morgan St. Book Shop estimated approximately $ 1 comma 200 of merchandise sold will be returned with a cost of $ 550.
Journalize the adjustment for inventory shrinkage.

Business
1 answer:
Blizzard [7]3 years ago
5 0

Inventory shrinkage is the shortage of inventory in physical count when compared with the system records.

Explanation:

Write down the values given in the question

St. Book​ Shop's unadjusted Merchandise Inventory at June ​30, 2018 was $ 5 comma 600.

he cost associated with the physical count of inventory on hand on June ​30, 2018​, was $ 5 comma 500.

Morgan St. Book Shop estimated approximately $ 1 comma 200 of merchandise sold will be returned with a cost of $ 550.

the adjustment for inventory shrinkage is explained in the table attached

The amount that is credited and debited are are found by following the

Note : Inventory shrinkage is the shortage of inventory in physical count when compared with the system records.

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Barry is engaging in an exchange as he he pays to attend an online webinar about pinterest strategy to improve his skills in social media.

<h3>What is an exchange?</h3>

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8 0
1 year ago
A city government purchased a new fire truck in Year 1 for $270,000. The city incurred an additional $ 30,000 in transportation
erica [24]

Answer:

correct option is  $0

Explanation:

given data

purchased  truck = $270,000

transportation and calibration costs = $30,000

life = 20 years

financed period = 15 year

solution

we know here that some expenses like insurance and depreciation etc is allocated by systematic and the rational procedure for some period

so that during that period related asset is expected to provide the benefit

and acquisition of capital asset is not record as expenses

we know  appropriate property and  plant or the equipment assets account are debit on  purchases

so that Depreciation expenses are recorded to reflect the allocation of costs of the asset to operation over service life of assets

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6 0
3 years ago
Scientists assign each kind of organism a universally accepted name in the system known as:.
Viefleur [7K]

Answer:

Binomial nomenclature.

Explanation:

What is Binomial nomenclature?

a system for giving each organism a two-word latin name that consists of the genus name followed by the specifies name taxonomy.

4 0
2 years ago
Read 2 more answers
"_____" is the alternative term for "comfort" that is used by the wall street journal as one of the factors to grade jobs.
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3 years ago
Astair, Inc. reported sales of $6,000,000 for the month and incurred variable expenses totaling $4,600,000 and fixed expenses to
tiny-mole [99]

Answer:

Break-even point in units= 78,000

Explanation:

Giving the following information:

Fixed cost= $940,000

Total contribution margin= (6,000,000 - 4,600,000)= $1,400,000

Unitary contribution margin= 1,400,000 / 70,000= $20

Desired profit= $620,000

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4 0
3 years ago
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