Basic Accounting - Adjusting Entry for Merchandise Inventory
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- Опубликовано: 5 фев 2025
- Basic Accounting - Adjusting Entry for Merchandise Inventory
Learn how to prepare adjusting entry for merchandise inventory.
Reference: Basic Accounting Made Easy by Mr. Win Ballada and Ms. Susan Ballada
#AdjustingEntry #MerchandiseInventory #BasicAccounting
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Thanks bestie
You're welcome, Strawberry 🙂
Medyo mahina lang po audio nito Sir, pero okay po sa iba. Yun lang po and thank you so much sa videos niyo :)
Thanks The Smart Juan 🙂 Hoping other videos ay ok naman ang audio. Hehe 🙂 Hope this video will still help you. Mag aral nang mabuti ❤️
(for partnership po) Pano po pag mas malaki ang ending merchandise inventory, ganyan pa rin po ba ang adjusting entries? At kasama po ba sa adjustments, adjusted trial balance ang income summary po?
Good morning po. Hehe andito nanamn po ako😆 pano po yung double rule? Ano po yun? Hehe
Un ung final answer lng
Sir, why we don't just adjust the beginning inventory into ending inventory by reducing it to 70,000??. Using the adjusting entry:
Income Summary 70,000
Inventory. 70,000
Thanks for answering po:))
Hello jhoevelyn.
Kaya ganyan ung adjusting entry because para mas makita natin unh pagremove ng beginning inventory and pag establish ng ending inventory.
If ginawa natin na diretso 70K ang amounts ng adjustment, hindi agad natin malalaman ang amount ng beginning and ending inventory thru journal entry. Hope it helps.
@@FilipinoAccountingTutorial Sir, that's why it's either adjusting entry or closing entry because both of them have the same way of recording it. Okay I thanks sir:)
@@jhoevelynnuelan65 Where are you from, may I know that I live in India, Uttar Pradesh and what do you do?
sir gagawa den po b a nang income summary account sa t account?
Yes, ph 🙂
4:41 hello po. bakit po nasa debit side yung unang income summary?
Around 5:50 yung answer dito, kei. Hope it helps 🙂
Sir, What would be the Adjusting Entry in finding Merchandise Inventory, Ending if the Merchandise Inventory, Beginning is not given?
Consider apply the formula of cost of goods sold and workback the computation from COGS to beginning inventory. Hope it helps, cielo 🫶
@@FilipinoAccountingTutorial Thank you, Sir. Question po, when the entity is starting Its operation for the first time and uses periodic inventory system, does it need to find Merchandise Inventory, Beginning. What I did on the Adjustment of Merchandise Inventory, Ending, I compute the COGS, then I established Merchandise Inventory, Ending and COGS then I closed the Cost Accounts in the adjustments column in the Worksheet. Is it correct sir?
Hello po, pede pong magtanong pano po pag ang given lang is end inventory?
Hello dear
Where are you from live
Sir, ang merchandise inventory, asset po ba?
Sir, tanong ko lang po. Ang allowance for doubtful accounts, asset ba siya? Salamat po
Yes, Div. You are right. Contra asset. Kabawasan sa A/R. Hope it helps 🙂
@@FilipinoAccountingTutorial How about yung uncollectible account po?
Pano po ba sir kpag gumamit ng adjusting entry method at closing entry method ng sabay sa pag determine ng merchandise inventory pwede po ba yun dahil ginamit nyo po ang adjusting entry sa special procedure sa worksheet at parang Hindi nman po Malaki yung pagkakaiba ng dalawa
You are right, dan. Wala pinagkaiba ang dalawang yan pagdating sa adjusting entry. The only difference is ung "timing" ng entry.
1. Kapag adjusting entry method, kasama sa mga adjusting entries ung closing entry ng inventory
2. Kapag closing entry method, kasama sa mga closing entries ung closing entry ng inventory.
Hope it helps 🙂
Pnu po i journal yng merchandise inventory is to be valued at 74k
Isn't it Cogs ba?
Eh bakit sir yung saamin yung merchandise inventory jan 1 is 20,000 tapos ng nilagay na sa statement of financial position ay naging 30,000 na how poba sir?
Baka kasi yung 30,000 is yung ending inventory, wilson 🙂 yung inventory sa statament of financial position, laging ending inventory nilalagay dun. Hope it helps ♥️
@@FilipinoAccountingTutorial thank you po sir sana makapasa ako mamayang exam
You're welcome, wilson 🙂 goodluck on your exam! ♥️
Hi sir. Ano pong gagawin sa balance na debit sa income summary na 70k po? Thank you po! ❤️
Actually yung mga entries na nanjan is "portion" or "part" kumbaga ng closing entries for merchandising business 🙂
Yung amounts will be posted sa ledger. Hope it helps ❤️
Bat hindi closing entries may income summary naman?
paano po kapag merchandise unsold at the end of year
Merchandise unsold at year end is deemed the ending inventory. Hope it helps, akira 🙂
merchandising business at merchandising inventory ay iisa lang po?
Hello n, magkaiba po sila.
Where are you from live ??
Sir paano po ba gawin yung T Accounts for Merchandising Business pLease po😢
Same lang ito ng t-accounts for service. However, mas marami lang pag merchandising dahil sa mga bagong account titles. Hope it helps, brian 🫶
My videos ako dito about t-accounts, please watch na lang iyon ❤️
Salamat Lodi, medyo nakakalito kasi un gagamitin mga Accounts ay nakadepende rin sa gagamitin Method... kung wala itong mga content wala na nakalimutan ko na...
Hello po paano po kaya yung adjusting entry po ng merchandising inventory pag po periodic?thanks po
Hello carmela. Itong video na ay adjusting entry for inventory using periodic system. Please watch this video if you want more lectures of this. Hope it helps 💛
Hello po ito po ba yung tinatawag na reversing entry? thank you po
Hello. Hindi po. Adjusting entry po ito. Here is the lecture for reversing entries:
ruclips.net/video/8H9LXXLIf_E/видео.html
Pano po pag walang given na beginning balance 😄
up
Use Financial Analysis(baka)...
This is a very long method
Adjusting entries for inventories is not complex. This is not a very long method. It appears it is a long method because of the explanation of concepts, the how's, and why's (why inventory account and why income summary account).