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22 February, 16:39

Q 5.28: Amanda Accountant works for a company that distributes birdseed. While walking through the plant, she notices birdseed scattered all over the floor from a few boxes that have been torn open. It is the end of the quarter. What do you predict Amanda will do? Why?

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  1. 22 February, 18:01
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    The answer is:

    Amanda should record the wasted birdseeds (inventory loss) by adjusting the inventory account.

    A company's inventory account may be incorrect and show errors due to waste or theft. When a loss in inventory is detected, the inventory account should be adjusted to record all the losses due to waste or theft.
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Home » Business » Q 5.28: Amanda Accountant works for a company that distributes birdseed. While walking through the plant, she notices birdseed scattered all over the floor from a few boxes that have been torn open. It is the end of the quarter.
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