Determine the Account and Amount to Be Debited and the Account

question 32

Essay

Determine the account and amount to be debited and the account and amount to be credited for the following adjustment. The company uses the periodic inventory system. The beginning inventory for a merchandising business was $32,000, and the ending inventory is $45,000.

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Definitions:

Luck Of The Draw

An expression denoting the outcome of a situation determined purely by chance.

Dispositional Factors

These are inherent personality traits and characteristics that influence an individual's behavior and reactions to situations.

Situational Factors

External influences on an individual’s behavior or performance that are determined by the circumstances or environment.

Heider

Fritz Heider, an Austrian psychologist known for his work in attribution theory, focusing on how individuals infer the causes of behavior.