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dedylja [7]
2 years ago
13

At the beginning of the year, SnapIt had $12,400 of inventory. During the year, SnapIt purchased $39,800 of merchandise and sold

$33,600 of merchandise. A physical count of inventory at year-end shows $13,400 of inventory exists. Prepare the entry to record inventory shrinkage.
Record the inventory shrinkage on journal entry worksheet
Business
1 answer:
AveGali [126]2 years ago
4 0

The journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600.

<h3>Inventory shrinkage</h3>

Based on the information given the appropriate  the journal entry to record the inventory shrinkage is :

Debit Cost of goods sold $18,600

Credit Inventory $18,600

($12,400+$39,800-$33,600)

(To record inventory shrinkage)

Inconclusion the journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600

Learn more about inventory shrinkage here:brainly.com/question/6233622

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5 0
3 years ago
Storico Co. just paid a dividend of $3.15 per share. The company will increase its dividend by 20 percent next year and then red
ololo11 [35]

Answer:

The price of the stock today or the price at which the stock should sell today is $61.30

Explanation:

The price of the stock today can be calculated using the Dividend Discount Model approach which values a stock based on the present value of the expected future dividends from the stock. The price of this stock will be,

P0 = 3.15 * (1+0.2) / (1+0.12)  +  3.15  * (1+0.2) * (1+0.15)  /  (1+0.12)^2  +  

3.15 * (1+0.2) * (1+0.15) * (1+0.1) / (1+0.12)^3  +  

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5 0
3 years ago
The unemployment rate in an economy is 6 percent. The total population of the economy is 290 million, and the size of the civili
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Answer:

2. 9 million

Explanation:

We know that

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So, the number of unemployed workers would be

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= 9 million

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7 0
3 years ago
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OlgaM077 [116]

Answer:

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=$605,500

7 0
3 years ago
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