Delmar Industries uses the perpetual inventory method in accounting for inventory. Prepare the necessary adjusting entry for each of the following independent cases using the cost of goods sold account. If an amount box does not require an entry, leave it blank. Case 1 Physical count as of April 30 $43,100 Perpetual inventory records as of April 30 41,800 Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Apr. 30 If an amount box does not require an entry, leave it blank. Case 2 $37,800 Physical count as of April 30 38,300 Perpetual inventory records as of April 30 Page: 1 POST. DEBIT CREDIT DATE DESCRIPTION REF. 1 Apr. 30

Delmar Industries uses the perpetual inventory method in accounting for inventory. Prepare the necessary adjusting entry for each of the following independent cases using the cost of goods sold account. If an amount box does not require an entry, leave it blank. Case 1 Physical count as of April 30 $43,100 Perpetual inventory records as of April 30 41,800 Page: 1 POST. DATE DESCRIPTION DEBIT CREDIT REF. 1 Apr. 30 If an amount box does not require an entry, leave it blank. Case 2 $37,800 Physical count as of April 30 38,300 Perpetual inventory records as of April 30 Page: 1 POST. DEBIT CREDIT DATE DESCRIPTION REF. 1 Apr. 30

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A2