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    mutantpenny Posts: 7, Reputation: 1
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    Nov 8, 2010, 07:29 PM
    Merchandise inventory
    Tb figures
    Merchandise inventory 27,050
    Unearned sales revenue 4,000
    Sales 263,770
    Cost of goods sold 171,225

    Adjustment data
    Unearned sales revenue of $975 is still unearned at December 31, 2011
    On the sales that were unearned cost of goods were $2,000
    A physical count of merchandise inventory indicates 23,800 on hand as at December 31, 2011

    I did the following adjustments:

    Merchandise inventory 21,800 (27050-2000-3250)
    Unearned sales revenue 975 (4000-975)
    Cost of goods sold 176475 (171225+2000+3250)
    Sales 266795 (263770+3025)

    Did I do the correct adjustments?

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