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Business
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Ending inventory per perpetual records $21,900 Rent expense $18,700 Ending inventory actually on hand 19,000 Salaries expense 53,900 Cost of goods sold 219,000 Sales discounts 11,000 Delivery expense 8,200 Sales returns and allowances 14,100 Insurance expense 12,200 Sales 386,000

Ending inventory per perpetual records $21,900 Rent expense $18,700 Ending inventory actually on hand 19,000 Salaries expense 53,900 Cost of goods sold 219,000 Sales discounts 11,000 Delivery expense 8,200 Sales returns and allowances 14,100 Insurance expense 12,200 Sales 386,000

FINANCIAL ACCOUNTING
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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Current Attempt in Progress Presented below is information related to Carla Vista Co., owned by D. Moore, for the month of January 2024. Ending inventory per perpetual records $21,900 Rent expense $18,700 Ending inventory actually on hand 19,000 Salaries expense 53,900 Cost of goods sold 219,000 Sales discounts 11,000 Delivery expense 8,200 Sales returns and allowances 14,100 Insurance expense 12,200 Sales 386,000 Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles Jan. 31 eTextbook and Media Debit Credit Prepare the necessary closing entries. D. Moore did not withdraw any cash during the month of January. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Jan. 31 Jan. 31 (To close income statement account with credit balance.) Debit Credit
Transcribed Image Text:Current Attempt in Progress Presented below is information related to Carla Vista Co., owned by D. Moore, for the month of January 2024. Ending inventory per perpetual records $21,900 Rent expense $18,700 Ending inventory actually on hand 19,000 Salaries expense 53,900 Cost of goods sold 219,000 Sales discounts 11,000 Delivery expense 8,200 Sales returns and allowances 14,100 Insurance expense 12,200 Sales 386,000 Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles Jan. 31 eTextbook and Media Debit Credit Prepare the necessary closing entries. D. Moore did not withdraw any cash during the month of January. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Jan. 31 Jan. 31 (To close income statement account with credit balance.) Debit Credit
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