Witryna14 paź 2024 · Rent expense—Office space 8,000 Store supplies expense 0 Advertising expense 9,300 Totals $181,150 $181,150 Additional Information: a. Store supplies still available at fiscal year-end amount to $2,550. b. Expired insurance, an administrative expense, for the fiscal year is $1,720. c. Depreciation expense on … WitrynaQuestion: The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. Nelson Company uses a perpetual inventory system. It categorizes the following accounts as selling expenses: Depreciation Expense—Store Equipment, Sales Salaries Expense, Rent Expense—Selling Space, Store Supplies Expense, …
ACC 211 Week 3 Chapter 4 Problem - Just Question Answer
Witryna20 lut 2024 · Example: You own a clothing store. You bought 50 denim jackets, but you only sold 12 so far. You can write off the costs of those 12 jackets that you sold. 7. … Witryna3 lut 2024 · For example, a clothing boutique's inventory includes the different clothing items it sells. The shop's supplies may include the items employees use to clean the store after hours and the bags they put customers' purchases in as they leave the store. Meaning in accounting. Supplies and inventory represent two distinct concepts in … fortiplanner download free
Are supplies general and administrative expenses?
WitrynaIndicate whether each period cost is a selling expense or an administrative expense. Costs Classification a. Salary of quality control supervisor Product costs-factory overhead cost b. Packing supplies for products sold. These supplies are a very small portion of the total cost of the product. WitrynaPalisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 20Y7 (unless otherwise indicated), are as follows: 110 Cash $ 83,600 112 Accounts Receivable 233,900 115 Merchandise Inventory 652,400 117 Prepaid Insurance 16,800 118 … Witryna22 cze 2024 · A) Store supplies still available at fiscal year-end amount to $2,950. B) Expired insurance, an administrative expense, for the fiscal year is $1,880. C) Depreciation expense on store equipment, a selling expense, is $6,300 for the fiscal year. D) To estimate shrinkage, a physical count of ending merchandise inventory is … fortiportal datasheet