Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the consolidating entry to eliminate deferred prof

The consolidating entry to eliminate deferred profit in ending inventory. A ...

90.2K

Verified Solution

Question

Accounting

The consolidating entry to eliminate deferred profit in ending inventory.

A

(dr) Merchandise inventory

(cr) Cost of goods sold

B

(dr) Cost of goods sold

(cr) Merchandise inventory

C

(dr) Equity income

(cr) Merchandise inventory

D

(dr) Equity investment

(cr) Merchandise inventory

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

Accounting
1.2K views

Flow of Costs and Income Statement Ginocera Inc. is a designer, manufacturer, and distributor of custom gourment...

Biology
1.2K views

Did the Supreme Court decide Chapman was guilty or not guilty

Basic Math
1.2K views

During the day, Sam's Soda Shop took in $352. That same day, Sam paid a...

Basic Math
1.2K views

A jar contains 6 red marbles numbered 1 to 6 and 8 blue marbles numbered...

Algebra
1.2K views

a compute the power in rectangular form by using binomial multiplication b write the complex...

Accounting
1.2K views

A single taxpayer purchases stock directly from a local small business in 2015...

Accounting
1.2K views

Exercise 21-7 (Algo) Standard cost per...

Accounting
1.2K views

The following is financial information describing the six operating segments that make up...

Accounting
1.2K views

Find the amount paid by Country Companies Insurance under the following conditions. Assume ...

Accounting
1.2K views

Un complejo de apartamentos que genera $70,000 anuales como ingreso neto se compra con base...

Accounting
1.2K views

Question 5 Using the Financial Statements provided in the file attached to this exam, answer...

Accounting
1.2K views

eBook Show Me HowSpreadsheetPrint Item Question Content Area Retail Inventory Method Harmes Company is...