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Two accounts are used - There will be a merchandise account and create an Expense due to Shrinkage Account if an asset of $100 is lost due to shrinkage
credit the merchandise account, debit the loss due shrinkage account
after that in income statement list under exchange account
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What is abnormal loss in cost accounting?
Abnormal loss is an unexpected loss in financial assets in business activities.
A large extraordinary loss has what effect on cost of goods sold?
A large loss will cause the cost of goods to increase. The cost of goods will increase because the organization will attempt to recoup the money.
Inventory carrying cost and cost of not having it?
Inventory carrying cost is that cost which is incurred by company to stock the inventory while cost for not having inventory means that cost which company has to bear due to non availability of inventory like loss of sales or good sales opportunity loss cost etc.
What effect does an extraordinary loss have on cost of goods sold?
Has no effect.
What is a trading accounts?
A Trading Account is an account that shows the gross profit of or loss of a manufactures or retail buisness. Sales less than the cost of sales. This is an account similar to a traditional account.
What is loss prevention?
Loss prevention in the business/retail world is the Monitoring and prevention of internal/external theft in a business or "shrinkage"
Shrinkage of concrete?
The loss of water results in reduction of volume of concrete this is known as shrinkage of concrete.Prevention of shrinkage in concrete:Low moisture contentSize of aggregates used.
What is bilateral volume loss?
Bilateral volume loss is shrinkage on both the right and left sides.
Washer or dryer cause shrinkage cause color loss?
color loss, washer, always was on cold for color fastness. shrinkage is dryer, you can avoid this by using low heat or no heat tumble dry
How do you compute ROE if there is loss and negative equity?
To compute for ROE if there is loss and negative equity, divide the company's net income by the stockholders' equity. A negative ROE does not necessarily mean bad news.
What is the shrinkage of a tissue through a loss in cell size or number?
I believe that "Atrophy" is the word you are looking for.
How much money do retailers lose in merchandise each year through theft and employee error?
In the past year, the retail industry lost $38 billion due to theft. Overall, 38% of all inventory shrinkage were due to theft. These are very alarming stats. You can read further on this topic here - ...gizmosupport.com/6-tips-for-loss-prevention-in-retail/
What is shrinkage?
Shrinkage has multiple meanings, depending on the context. * Shrinkage (accounting) - the loss of products * Shrinkage (statistics) - a technique to improve an estimator * Shrinkage (casting) - a casting defect brought about by the reduction in volume of the cast material as it cools and solidifies * Shrinkage (slang) - slang term referring to penis size, particularly when the penis and scrotum contract in response to chilling.
How do you account for the gain or loss on sale of property plant and equipment for cash?
Please guide me to compute profit or loss made on sales of land
Who do you get percentage of loss to ratio?
% loss = ((selling price - cost)/cost x 100 Ratio of loss to cost? (selling price - cost)/cost
The cost of overhead minus the selling price?
The cost of overhead minus the selling price is loss.
How do you compute the cost basis for the spectra energy spin off of duke energy?
To compute the cost basis for the Spectra Energy spin off of Duke Energy one is recommended to contact and make an inquiry with a financial or tax adviser. Duke Energy received a ruling from the IRS to the effect that the distribution of its shares of Spectra Energy qualifies as a tax-free distribution for U.S. federal income tax purposes. As a result shareholders will not recognize gain or loss.
