Journalize the adjusting entry for the inventory shrinkage

Assignment Help Accounting Basics

Reference no: EM131971817

Problem

Rodriguez Company's perpetual inventory records indicate that $169,940 of merchandise should be on hand on June 30, 2014. The physical inventory indicates that $156,340 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Rodriguez Company for the year ended June 30, 2014. Assume that the inventory shrinkage is a normal amount.

Reference no: EM131971817

Questions Cloud

What is the average time to read a single sector : What is the average time to read a single sector?

Prepare the manufacturing overhead budget by quarters : For Roche Inc., variable manufacturing overhead costs are expected. Prepare the manufacturing overhead budget by quarters and in total for the year.

Reshape the WHO data set into the form : MATH2349 Data Preprocessing - Read the species and surveys data sets using an appropriate function. Name these data frames as "species" and "surveys"

Compute what is the npv of the project : We're looking at a new project. We plan to sell 7,600 units per year, $ 68 per unit, for the next 10 years. In other words, the annual cash flow.

Journalize the adjusting entry for the inventory shrinkage : Journalize the adjusting entry for inventory shrinkage for Rodriguez Company for year ended June 30, 2014. Assume that inventory shrinkage is a normal amount.

Warehouse operations manager for implementation : Recommend best practices for backup plans to a warehouse operations manager for implementation.

Determine what is the annual yield to maturity : Evans Emergency Response bonds have 4 years to maturity. Interest is paid semiannually. The bonds have a $1,400 par value and a coupon rate of 9 percent.

Write a strong introduction and conclusion : Your paper is well organized: You write a strong introduction and conclusion. Your paper follows a consistent and coherent logical progression

What is the beginning purchase differential created : What is the beginning purchase differential created in worksheet elimination number 1 for the 20x8 consolidated financial statements?

User Account

All Pages