Valix Finacc vol 1 Problem 7-38

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 7-38

                                                                     Inventory                          Accounts payable                        Net sales

Unadjusted                                  1,250,000                           1,000,000                      9,000,000

       1                                          (   165,000)                         (  165,000)                                          -

       2                                         (     20,000)                                  -                                    -

       3                                                   -                                        -                         (     40,000)

       4                                              210,000                                   -                                  -

       5                                               25,000                               25,000                              - ___

                                                   1,300,000                              860,000                      9,040,000