Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 9. wizard computers's merchandise inventory accoun

9. Wizard Computers's Merchandise Inventory account at year-end is showing a balance of $47,000. The...

70.2K

Verified Solution

Question

Accounting

image
9. Wizard Computers's Merchandise Inventory account at year-end is showing a balance of $47,000. The physical count of inventory came up with $46, 100. Joumalize the adjusting entry needed to account for the inventory shrinkage. The company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

19. Salmond signs a note for the purpose of lending credit toJohn. Salmond also...

Accounting
Q

RTF stock is expected to return 11 percent in a normal economy and lose 15 percent...

Finance
Q

Special Senses: What so special about the \"Special Senses\". Why do we call General Senses general and...

Medical Sciences
Q

Use tabulated electrode potentials to calculate ΔG∘ for the reaction 2K(s)+2H2O(l)→H2(g)+2OH−(aq)+2K+(aq)

Chemistry
Q

1. A sociologist claims that children ages 6-17 spend less time watching television today than children...

Basic Math
Q

You are planning on setting up a new Best Buy in Saudi Arabia. What is your...

General Management
Q

PART A Complete solution required Two point charges are placed on the x axis The...

Physics
Q

Becton Labs, Incorporated, produces various chemical compounds for industrial use. One compound, called Fludex, is...

Accounting
Q

Interpret the following transactions This information is presented in chapter 7 but may require outside...

Accounting
Q

problem 5 income statement of manufacturing income PROBLEM 5 INCOME STATEMENT OF...

Accounting
Q

If borrowed $8000 @7.5% with compounded interest semiannually for 8 years, what would I owe?

Accounting
Q

In 2019, LB Corp recognized EBT of $69,178 had interest expense of 13,605. Calculate LB's...

Accounting