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University Of California, San Diego Operations And Supply Chain Management Assignment Help - Company s ledger


Question - ACCT 1A: Financial Accounting...
Ch. 4-6


1.Nix It Company s ledger on July 31, its fiscal year-end, includes the following selected accounts that
have normal balances (Nix It uses the perpetual inventory system).














Merchandise inventory


$


34,800


Sales returns and allowances


$


3,500


Retained earnings




115,300


Cost of goods sold




102,000


Dividends




7,000


Depreciation expense




7,300


Sales




157,200


Salaries expense




29,500


Sales discounts




1,700


Miscellaneous expenses




2,000


A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory
s ...Read More

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