#1
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Can someone explain what the adjusting entry of the highlighted part would be?
TIA ![]() Sent from my SM-G950F using Tapatalk |
#2
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#3
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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 |
#4
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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 Total 140000 140000 |
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