Concept explainers
Journalizing
Learning Objective 3, 4
Emerson St. Book Shop’s unadjusted and Merchandise Inventory at June 30, 2018 was $5,200. The cost associated with the physical count of inventory on hand on June 30, 2018, was $4,900. In addition, Emerson St. Book Shop estimated approxiamately $1,000 of merchandise sold will be returned with a cost of $400.
Requirements
- Journalize the adjustment for inventory shrinkage.
- Journalize the adjustment for estimated sales returns
Learn your wayIncludes step-by-step video
Chapter 5 Solutions
Horngren's Accounting (12th Edition)
Additional Business Textbook Solutions
Horngren's Accounting (11th Edition)
Financial Accounting, Student Value Edition (5th Edition)
Principles of Accounting Volume 1
Intermediate Accounting (2nd Edition)
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Managerial Accounting (5th Edition)
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