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Adjusting entries
The statement
Storage fees earned for the quarter total $7414 There are no accured storage fees earned for this quarter. A second adjustment to storage fees earned will not be required and the storage fees recievable account twill continue to have a zero balance Is the answer Unearned storage 7414 dr Storage fees earned 7414 cr Also I need help with this one Thunder mountain snowmobile uses the adjusting entry approach for merchandise inventory. The income summary account is used for this adjustment process. The beginning inventory balance from September 30, 2005 was $126,780 Is the answer dr. income summary Cr inventory And I need help with this one The new ending inventory balance on dec 31, 2005 is 122,640 Is the answer dr. inventory Cr income summary $122, 640 |
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