Accounting |
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 Nov 7 2005, 04:36 PM
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#1
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Senior Member  Group: Member Posts: 151 Joined: Dec 2004 Member No: 74,827  |
I have to write 2 scenario's and this is the one thing i have a hard time with cuz im not good at it my mind goes totally blank and I end up not knowing what to do.
1. Write a scenairo to illustrate an adjustment that would show a LOSS to merchandise inventory. Write it as a t-account. 2. Write a scenairo to illustrate an adjustment that would show a GAIN to merchandise inventory, Write it as a t-account. If someone can help me with it thanks |
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| *mzkandi* |
Nov 7 2005, 05:00 PM
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#2
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When is this assignment due?
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Nov 7 2005, 05:10 PM
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#3
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Senior Member Group: Member Posts: 151 Joined: Dec 2004 Member No: 74,827 |
well i was out a week b/c i had sugery n i just got all my assingments today it's an esstinal question i have to do.
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Nov 9 2005, 03:47 PM
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#4
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 Randomness rules Group: Member Posts: 128 Joined: Nov 2004 Member No: 64,288 |
wow, its been a while since ive done accounting, and i hate t-accounts, but, for a gain in inventory, the inventory account would be debited and its contra account would be credited, and opposite for a loss
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| *mzkandi* |
Nov 13 2005, 08:58 PM
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#5
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I'm going assume the topic starter no longer needs assistance on this assigment. If you do pm me to reopen this.
Topic Closed. |
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