The General Ledger Shows a Balance of $65 300 in the Inventory

question 41

Multiple Choice

The general ledger shows a balance of $65 300 in the Inventory account at the end of the period. A physical inventory shows a count of $67 900. The adjusting entry would be a:

• A)debit to Cost of sales and a credit to Cash.
• B)debit to Inventory and a credit to Cash.
• C)debit to Inventory and a credit to Cost of sales.
• D)debit to Cost of sales and a credit to Inventory.

Construct planning budgets and understand the influence of activity levels on budgeted amounts.

Identify and calculate variances between actual and budgeted performances including favorable and unfavorable outcomes.

Use budget formulas to prepare budgets based on activity measures such as customer served and patient-visits.

Understand and apply cost formulas in budget preparations.

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Definitions:

Drug Overdose

The ingestion or application of a drug in quantities greater than are recommended or generally practiced, leading to a toxic state or death.

Carbon Monoxide Poisoning

Exposure to excessive levels of carbon monoxide gas, which is toxic, leading to symptoms like headache, dizziness, and possibly death.

Firearms

Weapons capable of firing a projectile using gunpowder or another propellant, including guns, rifles, and pistols.

Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment.