Can someone please help me with this, I am stuck
Nix’It Company’s ledger on July 31, its fiscal year-end, includes
the following selected accounts that have normal balances (Nix’It
uses the perpetual inventory system).
Merchandise inventory | $ | 38,300 | Sales returns and allowances | $ | 6,400 | |
Retained earnings | 116,300 | Cost of goods sold | 105,300 | |||
Dividends | 7,000 | Depreciation expense | 10,400 | |||
Sales | 160,000 | Salaries expense | 33,000 | |||
Sales discounts | 3,000 | Miscellaneous expenses | 5,000 | |||
A physical count of its July 31 year-end inventory discloses that
the cost of the merchandise inventory still available is
$37,100.
QS 4-10 Closing entries LO P3
Prepare journal entries to close the balances in temporary revenue and expense accounts. Remember to consider the entry for shrinkage from QS 4-9. (The solution from QS 4-9 is required to complete this question.)
Can someone please help me with this, I am stuck Nix’It Company’s ledger on July 31,...
Nix’It Company’s ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix’It uses the perpetual inventory system). Merchandise inventory $ 42,300 Sales returns and allowances $ 5,600 Retained earnings 124,300 Cost of goods sold 107,700 Dividends 7,000 Depreciation expense 11,200 Sales 159,100 Salaries expense 37,000 Sales discounts 3,800 Miscellaneous expenses 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $40,700. Prepare...
Nix’It Company’s ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix’It uses the perpetual inventory system). Merchandise inventory $ 44,300 Sales returns and allowances $ 5,200 Retained earnings 128,300 Cost of goods sold 108,900 Dividends 7,000 Depreciation expense 11,600 Sales 161,100 Salaries expense 39,000 Sales discounts 4,200 Miscellaneous expenses 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is...
Nix’It Company’s ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix’It uses the perpetual inventory system). Merchandise inventory $ 42,300, Sales returns and allowances $ 5,600, Retained earnings 124,300, Cost of goods sold 107,700, Dividends 7,000, Depreciation expense 11,200, Sales 159,100, Salaries expense 37,000, Sales discounts 3,800, Miscellaneous expenses 5,000, A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $40,700. Record...
VIUNON-ps%253A%252F%252Fkei... HW Saved Help Save & Ch ! Required information [The following information applies to the questions displayed below.) Nix'lt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'It uses the perpetual inventory system). Merchandise inventory T. Nix, Capital T. Nix, Withdrawals Sales Sales discounts $ 38,300 116,300 7,000 160,000 3,000 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 6,400 105,300 10,400 33,00 5,000...
Required information Nix'lt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'lt uses the perpetual inventory system) Merchandise inventory Retained earnings Dividends Sales Sales discounts $39,300 Sales returns and allowances $ 6,200 105,900 10,600 34,000 5,000 118,300 Cost of goods sold 7,000 Depreciation expense 159, 600 Salaries expense 3,200 Miscellaneous expenses A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is...
(The following information applies to the questions displayed below.) Nix"It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal bal (Nix"It uses the perpetual inventory system). Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 47,300 134,300 7,000 164,100 4,800 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses $ 4,600 110, 700 12,200 42,000 5,000 A physical count of its July 31 year-end inventory discloses that the...
Nix'It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'it uses the perpetual Inventory system). $ Merchandise inventory Retained earnings Dividends Sales Sales discounts $ 40,300 120,389 7,000 159,200 3,400 Sales returns and allowances Cost of goods sold Depreciation expense Salaries expense Miscellaneous expenses 6,000 106,500 10,800 35,000 5,000 A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $38.900. Prepare...
Nix’It Company’s ledger on July 31, its fiscal year-end,
includes the following selected accounts that have normal balances
(Nix’It uses the perpetual inventory system).
Help Save & Exit Submit O Required information The following information applies to the questions displayed below! Nix'It Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nix'It uses the perpetual inventory system). Merchandise inventory T. Nix, Capital T. Nix, withdrawals Sales Sales discounts $ 37,800 Sales returns and allowances 115,300 Cost of goods sold 7,000 Depreciation expense 160,200 Salaries expense 4,700 Miscellaneous expenses $ 6,500 105,000 10,300 32,580 5,000 A physical...
Required information Use the following information for the Quick Study below. The following information applies to the questions displayed below) Nxt Company's ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Nixit uses the perpetual inventory system) Merchandise inventory Dividende $ 40,00 120,100 7,000 15,200 3.400 Sales return and allowances Coot of goods sold Depreciation expense salaries expense Miscellaneous expenses 6,000 106,500 10.800 35,000 5.000 Sales discount A physical count of its July...