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Stalin Thursday, April 18, 2019 04:04 PM

Css 2018
 
Can someone explain what the adjusting entry of the highlighted part would be?

TIA[IMG]https://uploads.tapatalk-cdn.com/20190418/f2ab58fe97ed40114ba20ce61be243f9.jpg[/IMG]

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Mir Shahnawaz Friday, April 19, 2019 03:52 AM

answer
 
Hope this helps, there's one catch, the income summary. the question doesn't requires it, but again the person on the other end of the paper might deduct marks.

[IMG][url=https://ibb.co/0ykvzW4][img]https://i.ibb.co/WvQjRd8/accounts-4.jpg[/img] [url=https://ibb.co/YpWKdWQ][img]https://i.ibb.co/PwYbWYj/accounts-3.jpg[/img][url=https://ibb.co/SQN6PCn][img]https://i.ibb.co/KN65Xvq/accounts-2.jpg[/img][url=https://ibb.co/cCZQRfw][img]https://i.ibb.co/7RZKBMQ/accounts-1.jpg[/img][/url] [/url][/url] [/url][/IMG]

waqarmughal Thursday, November 07, 2019 04:52 PM

Issue Store Supplies Entry
 
I think the entry for Store supplies should be

Supplies Exp(Dr) 3500

Store Supplies(Cr) 3500

as you are making adjusted trail balance with figure 1500

waqarmughal Thursday, November 07, 2019 05:03 PM

Closing Stock Inventory Adjustment
 
Don't you think
Closing Stock Inventory Adjustment would be like this.
How can we create a summery account.

Closing Stock Adjustment

Purchases(CR) 95000
Opening Merchandise Inv(CR) 45000
Purchases Ret(DR) 6500
CGS(DR) 98500
Closing Merchandise Inv(DR) 35000
[B]Total 140000 140000[/B]


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