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-   -   How to record inventory change in 10 column worksheet? (https://www.askmehelpdesk.com/showthread.php?t=340741)

  • Apr 12, 2009, 08:18 PM
    elisa_xing
    How to record inventory change in 10 column worksheet?
    I've got a question that ask you to prepare a 10 column work sheet based on the information given, the things I'm confused about is the stock section

    The business was brought in 1/06/08 with promotional material supplies $550
    On 4/06/08 purchase promotional materials $346
    On 15/06/08 purchase promotional materials $479

    The end of the year (30/06/09) closing stock of promotional materials is $910

    The entry I did is as follows:

    4/06/08 Promotional Material Supplies $346 DR
    Cash $346 CR
    15/06/08 Promotional Material Supplies $479 DR
    Cash $479 CR

    For the end of the year adjustment entry, to reflect the stock on hand ($910)

    30/06/2008 Promotional Material Expense $465 DR
    Promotional Material Supplies $465 CR

    Can anyone tell me if it is OK?
  • Apr 13, 2009, 12:00 AM
    Baha abo jemzo

    I think it's but don't keep in that for ever, try to get the best u can

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