0
What is the Accounting Journal Entry for Excess Inventory Reserve?
Cahedt
you take it in the closing stock .. it means that you have already added with in closing stock .. therefore you are closing stock reduce ... so excess stock entry will be made directly for the purpose of balance sheet. you are give this effect on it stock sheet only..
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Which basic production planning strategy will build inventory and avoid the costs of excess capacity?
Which basic production strategy will build inventory and avoid the costs of excess capacity
What are the merits of continuos inventory records?
There is something called the Opportunity cost. The regular inventory check would help in minimization of the capital tied up in excess inventory and the opportunity cost can be minimized by that. So the biggest merit of that is to lay check on the maintenance and excess tied up capital to the inventory reserves.
Is billings in excess of cost reported in current asset side is your inventory?
No, billings in excess of costs are a current liability.
A check drawn by a company for 270 in payment of a liability was recorded in the journal as 720 What entry is required in the company?
Reduction in liability for 550 should be recorded in journal to reduce the excess payment.
The Paid-in Capital in Excess of Par Value is increased in the accounting records when?
Paid-in Capital in Excess of Par Value in increased in accounting records when the value of a corporation's shares exceeds the par value of those shares. The latter occurs when investors purchase share from the corporation instead of from other shareholders.
What is the formula for actual reserve?
excess reserve plus the reserve requirements
Where could I sell off excess dollar store inventory?
You can use ebay to sell excess inventory. Also craiglist or local wanted ads may have people looking to buy excess inventory.
Which basic production planning strategy will build inventory and avoid the costs of excess capacity?
Which basic production strategy will build inventory and avoid the costs of excess capacity
What is a major inhibitor for the DoD to sell excess inventory?
Difficulty with identifying and classifying excess items
What is another words to excess or reserve?
surplus and cache
How do you calculate the excess inventory across a supply chain or at a particular site warehouse?
You would have to do a count of all the inventory. Have all the managers submit the information so you can determine the excess.
How do businesses manage excess inventory?
With excess inventory, it is possible to return it back to the supplier for a fee. However, if a business still wants to attempt to make a profit, many businesses will put the inventory up for sale or clearance. This usually occurs at the end of a selling season when new inventory is coming in.
Is billings in excess of cost reported in current asset side is your inventory?
No, billings in excess of costs are a current liability.
What are the merits of continuos inventory records?
There is something called the Opportunity cost. The regular inventory check would help in minimization of the capital tied up in excess inventory and the opportunity cost can be minimized by that. So the biggest merit of that is to lay check on the maintenance and excess tied up capital to the inventory reserves.
What do you mean by royalty reserve?
landlord transfers the excess of minimum rent over Royalty to Royalty reserve account.
How do companies liquidate excess inventory that isn't selling?
Companies have several options when liquidating inventory. They can hold liquidation sales for the public. Or they can send their inventory to be auctioned by bulk.
Are funds that the bank uses to satisfy the reserve requirement?
excess reserves
