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How to make an adjustment entry for the variation of
physical asset Vs book value of asset. For example: As per
asset register there are 1000 computers where as 950
computers are available in stores. How to make an adjustment
entries for the difference of 50 quantities?
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Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.
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