Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer asap, thankyou:) blossom compan

please answer asap, thankyou:) Blossom Company had the following account...

60.1K

Verified Solution

Question

Accounting

please answer asap, thankyou:) image
image
Blossom Company had the following account balances at year-end: cost of goods sold $105,400; inventory $18,600; operating experses $35,960; sales revenue $167,400; sales discounts $1,612; and sales returns and allowances $3,224. A physical count of inventory determines that inventory on hand is $17,484. (a) Prepare the adjusting entry necessary as a result of the physical count. (List all debit entries before credit entries. Credit account titles are automotically indented when the amount is entered. Do not indent manually.) Prepare closing entries. (Ust ail debit entries before credit eneries. Credit occount titles are outomaticolly Indented when the amount is entered. Do not indent manually)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

A survey on British Social Attitudes asked respondents if they had ever boycotted goods for ethical...

Chemistry
1.2K views

Consider the combustion reaction of hydrocarbon. CH + O2 -----> CO2 + H20 a. Write out the...

Mechanical Engineering
1.2K views

The volume of 1 kg of helium in a piston-cylinder device is initially 7 m3 ....

Physics
1.2K views

A person B accidentally slips from a large building and screams with a sound of...

Algebra
1.2K views

Explain how you function could restrict the domain of f x 2 x 4 2...

Accounting
1.2K views

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash...

Accounting
1.2K views

XYZ Inc. had outstanding 50,000 shares of non-par value common stock, with a stated value...

Accounting
1.2K views

ersensl budget t the beginning of the school yesr, Craig Kovst debided to prepare a...

Accounting
1.2K views

all entries are for blue star airlines Blue stars fiscal year is based on calendar...

Finance
1.2K views

A firm has a project with the following cash flows: The appropriate discount rate is...

Accounting
1.2K views

Major League Baseball (MLB) consists of teams that play in the American League and the...

Accounting
1.2K views

a. 12,900 b. 47,100 c. 114,000 d. 60,000