Chat with AI
Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381 Exercise 32
Taking a Physical Inventory
Frisbee Hardware uses a perpetual inventory system.t year-end, the Inventory account has a balance of $250,000, but a physical count shows that the merchandise on hand has a cost of only $246,000.
a.xplain the probable reason(s) for this discrepancy.
b.repare the journal entry required in this situation.
c.ndicate all the accounting records to which your journal entry in part b should be posted.
Frisbee Hardware uses a perpetual inventory system.t year-end, the Inventory account has a balance of $250,000, but a physical count shows that the merchandise on hand has a cost of only $246,000.
a.xplain the probable reason(s) for this discrepancy.
b.repare the journal entry required in this situation.
c.ndicate all the accounting records to which your journal entry in part b should be posted.
Explanation
Verified
Verified
A. Over time normal inventory shrinkage ...
Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
