Interested to Buy Any Domain ? << Click Here >> for more details...
What will be journal entry of cost of goods sold.
- 21 Answers
- 43214 Views
- Cura HealthCare, Ernst Young, I also Faced
- E-Mail Answers
Answer Posted / lakshmi
Example: ABC International has a beginning balance in its inventory asset account of $500,000. It buys $450,000 of materials from suppliers during the month. At month-end, it counts its ending inventory and determines that there is $200,000 of inventory on hand. The cost of goods sold journal entry is?
Cost of goods sold expense 750,000
To Purchases 450000
to investory(5L-2L) 300000
| Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
Tell me in accounting, how do you define premises?
What is cotangent Account?
paid vendor to RS 15000 and incentives of RS.5000 and deducted Rs.3000 as penalty so finally paid to vendor is Rs.17000. please let me know the journal entry for this.
WHAT IS THE VAT/CST RATE FOR PURCHASING COMPUTER/PHERIPHERALS FROM GUJARAT AGAINST C FORM, FOR DIU (UNION TERRITORY) AND WHAT RATE OF VAT/CST I HAVE TO PAY IN DIU FOR SALE.
What we have to post entry for payroll processing ? (Indian payroll)
what is book building
Under Accrual Accounting, How Are Worker Comp Premiums Handled?
What is the difference in accounting and marketing and what is so different about them?
Tell us what do you believe should be an important quality of an account executive?
cash credit taken from bank then what is the general entry?
What is the difference between provision and reverse?
how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry
WHAT IS THE DIFFERENCE BETWEEN ESTIMATED BALANCE SHEET & PROJECTED BALANCE SHHET
What is accounting period?
Tell us why did you select accounting as your profession?
