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please solve this Question 5 (20 points) The following amounts summarize...

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Accounting

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Question 5 (20 points) The following amounts summarize Star Inc.'s merchandising activities during 2014. (a) Merchandise Inventory balance, December 31, 2013 49,000 (b) Cost of merchandise sold to customers in sales transactions 197,000 (c) Invoice cost of merchandise purchases 255,000 (d) Shrinkage determined on December 31, 2014 10,500 (e) Cost of Transportation-in 14,400 (0) Cost of merchandise returned by customers and restored to inventory 7,100 (9) Purchase discounts received 2,750 (h) Purchase returns and allowances received 5,200 Record these activities directly in the T-accounts below and compute the account balances. Use the letter beside each activity to identify the entries, by placing the letter in the left-hand cell and the amount in the right-hand cell on the appropriate side of the T-account. When determining the balance of each account, Write 'Balance' or 'Bal') next to it in the left-hand cell on the appropriate side. Be sure to include only the final adjusted balance. Merchandise Inventory Cost Of Goods Sold

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