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The Following Is a Random List of the Accounts and Their

Question 13

Essay

The following is a random list of the accounts and their balances for Gordon Auto Sales (a proprietorship owned by A. Gordon) on December 31, 2014. The company uses a perpetual inventory system. The following is a random list of the accounts and their balances for Gordon Auto Sales (a proprietorship owned by A. Gordon) on December 31, 2014. The company uses a perpetual inventory system. A physical count of inventory on December 31, 2014 reveals $671,575 on hand. Instructions a. Prepare the entry to adjust inventory. b. Prepare the closing entries on December 31, 2014. c. Prepare the post-closing trial balance. A physical count of inventory on December 31, 2014 reveals $671,575 on hand.
Instructions
a. Prepare the entry to adjust inventory.
b. Prepare the closing entries on December 31, 2014.
c. Prepare the post-closing trial balance.

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