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
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

You might be interested in
I haven't studied accounting in a well can some one please help me?
docker41 [41]
Bad debt expenses 800
Allowance for doubtful account 800

Allowance for doubtful accounts 60
Accounts receivable 60

Allowance for doubtful accounts 75
Accounts receivable 75

Accounts receivable 45
Allowance for doubtful accounts 45

Allowance for doubtful accounts 100
Accounts receivable 100

Accounts receivable 25
Allowance for doubtful accounts 25

Hope it helps!

3 0
3 years ago
The seller of a dry cleaning business has agreed not to open another dry cleaning business for two years within a one-mile radiu
algol [13]

Answer:

c. is valid and enforceable

Explanation:

In business,  this is called a Non-Compete Clause.

Non-Compete Clause can prevent a certain individual or organization to compete with another business , as long as both parties con sensually sign the agreement.

Typically, Non-Compete clause is required after all the parties involved have some sort of affiliation toward one another/

<u>for example:</u>

1. One party just bought the business from another party.

2. One party is an ex-members/ex-employees of another party. Making them know internal secrets of that other party.

6 0
3 years ago
Which of the following is NOT a useful strategy when making an informed purchase?
kkurt [141]
The answer is 4, purchase a product based on a social media influencer.

this would not be an informed purchase
4 0
3 years ago
The primary goal of financial management is to: a. maximize current dividends per share of the existing stock.b. maximize the cu
tangare [24]

Answer:

The correct answer is letter "B": maximize the current value per share of the existing stock.

Explanation:

Financial management collects several strategies to add value to the company in the long-term. This could be achieved by generating revenue sustainably and increasing the value per share of the firm's stock which boosts the value of the overall entity in the market.

<em>One of the most important goals financial management has is to maximize the stakeholders' wealth.</em>

6 0
3 years ago
The IMF projects that​ China's real GDP per person will be​ 57,163 yuan in 2017 and​ 60,334 yuan in 2018 and that​ India's real
erica [24]

Answer: India / 11.1years

Explanation:

Per capita income (PCI) or average income measures or calculate the average income earned per person in a given place (country,city, region etc.) in a particular year. It can be calculated by dividing the area's total income or wealth by its total number of population.

India's GDP will increase or double than that of China's, because is has a larger income than that of China.

5 0
3 years ago
Other questions:
  • an advertiser wants to increase the quality score of a low–performing keyword. which approach would you recommend
    14·1 answer
  • Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the followin
    7·1 answer
  • Other things the same, when the price level falls, interest rates ____ (A) rise, which means consumers will want to spend more o
    9·1 answer
  • Change champions are more likely to make mistakes:_________.
    5·1 answer
  • Adams operates his $57500 firm using his own equity. Bob operates his firm with $28750 of his own money plus $28750 of debt at a
    9·1 answer
  • Blackwell Automotive’s balance sheet at the end of its most recent fiscal year shows the following information: Blackwell Automo
    12·1 answer
  • 1. Drawing on discussions of informational justice, how should Andrea approach the morning briefing? Should she be honest and in
    8·1 answer
  • What is cold Storewhat is cold Store <br>​
    12·1 answer
  • Which of the following statements is most accurate regarding sufficient and appropriate documentation?
    13·1 answer
  • What must people taking out a mortgage agree to? Check all that apply. A loan amount plans for repairs an interest rate renovati
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!