The Trial Balance for a Merchandiser Is as Follows

question 202

Essay

The trial balance for a merchandiser is as follows. A physical count of inventory at the end of the accounting year reveals $28,000 of inventory on hand. (Assume a perpetual inventory system.) Give journal entry to record the inventory shrinkage, and the entries to close the Sales Revenue account, the expense accounts and contra revenue accounts with a debit balance, and the the Income Summary account and the Owner, Withdrawals account.

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Definitions:

α-D-Ribofuranose

A sugar derivative where the pentose sugar ribose is in its furanose form (a five-membered oxygen-containing ring) and has a specific orientation (alpha) of the hydroxyl group attached to the anomeric carbon.

Epimers

Stereoisomers that differ in configuration at only one stereogenic center among several.

D-Arabinose

A naturally occurring pentose sugar, which is a component of many polysaccharides and glycoproteins.

D-Xylose

A sugar molecule classified as an aldopentose, which means it has five carbon atoms and contains an aldehyde functional group.