Which of the following journal entries would be recorded when the inventory with cost of 33.000 TL has a shrinkage of 3.000 TL in its value? a. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 153-Inventory O b. 3.000 TL debit to 621-COGS; 3.000 TL credit to 153-Inventory O c. 3.000 TL debit to 157-Other Inventory; 3.000 TL credit to 153-Inventory O d. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 100-Cash
Which of the following journal entries would be recorded when the inventory with cost of 33.000 TL has a shrinkage of 3.000 TL in its value? a. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 153-Inventory O b. 3.000 TL debit to 621-COGS; 3.000 TL credit to 153-Inventory O c. 3.000 TL debit to 157-Other Inventory; 3.000 TL credit to 153-Inventory O d. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 100-Cash
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter17: Financial Statement Analysis
Section: Chapter Questions
Problem 5PEB: Inventory analysis A company reports the following: Determine (a) the inventory turnover and (b) the...
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![Which of the following journal entries would be recorded when the inventory with cost of
33.000 TL has a shrinkage of 3.000 TL in its value?
a. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 153-Inventory
O b. 3.000 TL debit to 621-COGS; 3.000 TL credit to 153-Inventory
O c. 3.000 TL debit to 157-Other Inventory; 3.000 TL credit to 153-Inventory
O d. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 100-Cash](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb8cc3c0c-1256-49d5-b233-0656dbdf124f%2F66fe1b0d-8f11-47f7-923b-8b774655bab1%2Fw33w948_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following journal entries would be recorded when the inventory with cost of
33.000 TL has a shrinkage of 3.000 TL in its value?
a. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 153-Inventory
O b. 3.000 TL debit to 621-COGS; 3.000 TL credit to 153-Inventory
O c. 3.000 TL debit to 157-Other Inventory; 3.000 TL credit to 153-Inventory
O d. 3.000 TL debit to 689-Ext. Loss; 3.000 TL credit to 100-Cash
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