Dr Nick

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About Dr Nick

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Teaching Since: May 2017
Last Sign in: 340 Weeks Ago, 2 Days Ago
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Education

  • MBA (IT), PHD
    Kaplan University
    Apr-2009 - Mar-2014

Experience

  • Professor
    University of Santo Tomas
    Aug-2006 - Present

Category > Accounting Posted 10 Jun 2017 My Price 14.00

Juan Morales Company

Juan Morales Company had the following account balances at year-end: Cost of Goods Sold $60,000, Inventory $15,000, Operating Expenses $29,000, Sales Revenue $115,000, Sales Discounts $1,200, and Sales Returns and Allowances $1,700. A physical count of inventory determines that merchandise inventory on hand is $13,900.

a)      Prepare the adjusting entry necessary as a result of the physical count.

b)      Prepare closing entries.

Answers

Dr Nick
(4)
Status NEW Posted 10 Jun 2017 08:06 AM My Price 14.00

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