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
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.

You might be interested in
why is government intervention often crucial when dealing with both positive and negative externalities?
Dennis_Churaev [7]

Answer:

Because the government can use her sovereign power to both mitigate negative externalities as well as encourage positive externalities.

Explanation:

A positive externality occurs when the transaction between a producer and end user benefits a third party that did not take art in the process.

A very Good example is Education. There is a third party benefit to the society when we have more educated citizens.

A negative externality happens when the business transaction between a manufacturer and consumer affects a third party adversely. a typical example is cigarettes. When cigarettes is consumed by the end user, the smoke can affect the health of a third party that was not part of the initial transaction.

To deal with both positive and negative externalities, government intervention is very crucial.

Government encourages positive externalities like education by subsidizing the cost of attending a school. They also enact laws that make basic education compulsory.

In the case of negative externalities, Government can intervene with a ban on producing harmful goods and also set a legislation about smoking in public laces to mitigate  the health complications caused by third party inhalation.

6 0
3 years ago
A person who buys stocks to make a little extra money consistently each year would be said to be doing so for __________________
blondinia [14]

Answer:

Investment

Explanation:

To invest is to allocate money in the expectation of some benefit/return in the future.

3 0
3 years ago
Why do you think companies felt that unions were "conspiracies that interfere with property rights"?
Dafna1 [17]
Companies felt that unions were conspiracies which interfere with property right because, unions usually challenge the employers about the working conditions of their workers and the manner the employers treat their workers; they fight for the rights of the worker. Because of this, employers usually do all they can to stop unions from forming.
7 0
3 years ago
Assume that an employee of a FINRA member firm opens a securities account at another FINRA member firm. If requested, the employ
murzikaleks [220]

Answer:

C) confirmations and account statements

Explanation:

If an employee of a FINRA member firm wants to work for another FINRA firm, he/she must notify his/her employing member firm, and his/her new employer must send duplicate confirmations and account statements only if requested by the member employing firm. The member employing firm does not have to grant any type of approval or permission.

The Financial Industry Regulatory Authority (FINRA) regulates member brokerage firms and exchange markets. FINRA is regulated and overseen by the SEC. They issue licences to individuals and admits companies into the financial trading industry.

3 0
3 years ago
An example of a personal skill is
SVEN [57.7K]

Answer:

Well, Personal skills refer to the inner abilities.  Examples of personal skills include the ability to communicate with others, Leadership skills, or Management skills.

3 0
3 years ago
Other questions:
  • The type of account and normal balance of unearned consulting fees is revenue, credit liability, credit liability, debit expense
    12·1 answer
  • If labor and capital are perfect substitutes: A. isoquants are linear and downward sloping. B. cost-minimizing firms will genera
    15·1 answer
  • How much TOTAL (principle and interest) will be paid over the life of the following loan: $185,000 loan; 7% annual interest (mon
    5·1 answer
  • When the cost of the cpi market basket increases from one year to the next we know that?
    5·1 answer
  • Using the information provided, analyze the affects of Lawry Lawn Service's transactions on the accounting equation.
    10·1 answer
  • The introduction of diet coke by the Coca Cola Company is an example of ________.A) line extensionB) brand harmonizationC) categ
    15·1 answer
  • Sandy wants to go on a trip in 10 years. If she invests $1,000 per year at the end of each year for 10 years at a 12% interest r
    14·1 answer
  • A firm has fixed operating costs of $253,750, a sales price per unit of $100, and a variable cost per unit of $65. The firm's op
    5·1 answer
  • The Solar Calculator Company proposes to invest $5 million in a new calculator-making plant that will depreciate on a straight-l
    6·1 answer
  • Using the allowance method of accounting for uncollectible receivables, the entry to reinstate a specific receivable previously
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!