Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please answer both questions. i really need it. th

Please answer both questions. I really need it. Thanks a lot! ...

70.2K

Verified Solution

Question

Accounting

Please answer both questions. I really need it. Thanks a lot! image
At December 31, 2022, Mohling Company's inventory records indicated a balance of $632,000. Upon further investigation it was determined that this amount included the following: - $112,000 in inventory purchases made by Mohling shipped from the seller 12/27/22 terms FOB destination, but not due to be received until January 2 - $74,000 in goods sold by Mohling with terms FOB destination on December 27 . The goods are not expected to reach their destination until January 6 - $6,000 of goods received on consignment from Dollywood Company What is Mohling's correct ending inventory balance at December 31,2022 ? $520,000$526,000$440,000$514,000 Question 6 An aging of a company's accounts recelvable indicates that $9,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $3,200 debit balance, the adjustment to record bad debts for the period will require a debit to Bad Debt Expense for $9.000 debit to Bad Debt Expense for $12.200 debit to Bad Debt Expense for $5,800 credit to Allowance for Doubtful Accounts for $9.000

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