At Its Fiscal Year-End of June 30,Kendall Wholesale's General Ledger

question 36

Essay

At its fiscal year-end of June 30,Kendall Wholesale's general ledger shows the following selected account balances.Kendall Wholesale uses the perpetual inventory system. A physical count of its June 30 year-end inventory discloses that the cost of the merchandise inventory still available is $58,160.Prepare the entry to record any inventory shrinkage.

---

Definitions:

Categorical Imperative

A central philosophical concept in the deontological moral philosophy of Immanuel Kant, which asserts that an action is morally right if it can be universally applied as a principle.

Universal Law

A principle or rule that is thought to be applicable to all members of a group or category without exception.

Moral Sentiment

The emotional aspect of morality, including feelings of right and wrong, that influences ethical decision-making.

Resentment

A type of moral outrage that occurs when we ourselves are treated unjustly.