User Account

All Pages

Problem- Adjusting entry for merchandise inventory shrinkage

Assignment Help Accounting Basics
Reference no: EM132680293

Problem - Adjusting entry for merchandise inventory shrinkage

Old Faithful Tile Co.'s perpetual inventory records indicate that $715,950 of merchandise should be on hand on December 31, 2012. The physical inventory indicates that $693,675 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Old Faithful Tile Co. for the year ended December 31, 2012.

Reference no: EM132680293

Questions Cloud

Why some organizations are accepting use of bitcoins : Bitcoin Economics. For this week's research paper, search the Internet and explain why some organizations are accepting and other organizations are rejecting.
What amount of cash that dorr should invest in partnership : a 20% share of net income and losses in exchange for a cash investment. The amount of cash that Dorr should invest in the partnership is
Bitcoins as standard form of currency : Explain why some organizations are accepting and other organizations are rejecting the use of Bitcoins as a standard form of currency.
What was thurman share of income or loss for the first year : What was Thurman's share of income or loss for the first year? Thurman has to invest an additional $13,000 per year so the % will change annually.
Problem- Adjusting entry for merchandise inventory shrinkage : Problem - Adjusting entry for merchandise inventory shrinkage - Journalize the adjusting entry for the inventory shrinkage for Old Faithful Tile Co.
Differences between software development and methods : This week we discuss the overall process of developing new software. Please also note the differences between software development and methods.
What additional audit evidence to obtain about controls : What are the key considerations in determining what additional audit evidence to obtain about controls operating during the roll-forward period?
What amount did zell contribute to the business : Interest in the partnership and the total amount of goodwill credited to the original partners was $700. What amount did Zell contribute to the business?
Quantity of data collected or vise versa : What data quality is and why you should care about it. Should data quality get more attention than the quantity of data collected or vise versa?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd