When the Physical Count of RNA Company Inventory Had a Cost

question 131

Short Answer

When the physical count of RNA Company inventory had a cost of $3,400 at year end and the unadjusted balance in Inventory was $3,600, RNA will have to make the following entry:

---

Definitions:

Multiplier

In economics, a factor that quantifies the change in economic output as a result of a change in other economic variables, such as spending or investment.

National Debt

The gross total of financial obligations acquired by a country's governing institution, through assorted methods.

Budget Deficit

The financial situation where a government’s expenditures exceed its revenue.

Balance Budget

A balanced budget occurs when the total revenues equal total expenditures for a government within a specific fiscal period, eliminating deficits.