Journalizing adjusting and closing entries, and computing gross profit Emerson St. Paul Book Shop's accounts at June 30, 2012, included the following unadjusted balances: 11eb8258_9509_ea47_bb02_731f7766692b_SM1625_00 The physical count of inventory on hand on June 30, 2012, was $5,000. Requirements 1. Journalize the adjustment for inventory shrinkage. 2. Journalize the closing entries for June 2012. 3. Compute the gross profit.

Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

النسخة 3الرقم المعياري الدولي: 978-0132962339

Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

النسخة 3الرقم المعياري الدولي: 978-0132962339

تمرين 22

Journalizing adjusting and closing entries, and computing gross profit
Emerson St. Paul Book Shop's accounts at June 30, 2012, included the following unadjusted balances:

The physical count of inventory on hand on June 30, 2012, was $5,000.
Requirements
1. Journalize the adjustment for inventory shrinkage.
2. Journalize the closing entries for June 2012.
3. Compute the gross profit.

التوضيح

موثّق

2.
Step 1 Read the exercise.
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