Required Information (The following information applies to the questions displayed below.] A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USA's inventory. Unit NRV $61 Inventory Quantity Unit cost Shirts 26 $55 MegaDriver MegaDriver II 20 270 210 21 310 330 3. Record any necessary adjusting entry to inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Required Information (The following information applies to the questions displayed below.] A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USA's inventory. Unit NRV $61 Inventory Quantity Unit cost Shirts 26 $55 MegaDriver MegaDriver II 20 270 210 21 310 330 3. Record any necessary adjusting entry to inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter15: Decision Analysis
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Please read and answer jorunal enrrty question using table provided
![Required Information
(The following information applies to the questions displayed below.]
A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf
equipment. As technology advances the design and performance of the next generation of drivers, the older models
become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf
clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts
related to Golf USA's inventory.
Unit NRV
$61
Inventory
Quantity
Unit cost
Shirts
26
$55
MegaDriver
MegaDriver II
20
270
210
21
310
330
3. Record any necessary adjusting entry to inventory. (If no entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0dca0735-100d-4c55-bf07-5c5fbc1c89d2%2Fb8f0c93e-5d58-4c36-aef7-a3be97bab4f9%2F74wekhp_processed.png&w=3840&q=75)
Transcribed Image Text:Required Information
(The following information applies to the questions displayed below.]
A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf
equipment. As technology advances the design and performance of the next generation of drivers, the older models
become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf
clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts
related to Golf USA's inventory.
Unit NRV
$61
Inventory
Quantity
Unit cost
Shirts
26
$55
MegaDriver
MegaDriver II
20
270
210
21
310
330
3. Record any necessary adjusting entry to inventory. (If no entry is required for a transaction/event, select "No Journal Entry
Required" in the first account field.)
Transcribed Image Text:Journal entry worksheet
1
Record any necessary adjusting entry for inventory.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
1
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