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The following summarizes Tesla's merchandising activities for the year:

- Cost of merchandise sold to customers: [tex]$283,000
- Merchandise inventory, beginning-of-year: $[/tex]41,092
- Merchandise purchases, gross amount: [tex]$290,132
- Shrinkage on inventory as of year-end: $[/tex]750
- Transportation-in for merchandise purchases: [tex]$2,901
- Cost of merchandise returned by customers (and restored to inventory): $[/tex]2,380
- Discounts received from suppliers on merchandise purchases: [tex]$2,322
- Returns to and allowances from suppliers on merchandise purchases: $[/tex]3,600

Enter the summarized activities in the two T-accounts below.

Merchandise Inventory

| Debit | Credit |
|---------------------------------|-----------------------------------|
| Balance, beginning-of-year | Discounts received on merchandise |
| Merchandise purchases | Returns and allowances on merchandise |
| Returns by customers | Cost of merchandise sold |
| Transportation-in for merchandise | Shrinkage as of year-end |
| Balance, end-of-year | |

Cost of Goods Sold

(Insert appropriate values for each account based on the summarized activities.)

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Sagot :

GinnyAnsweridn
To summarize Tesla's merchandising activities for the year and enter them into the T-accounts, you need to record each activity in the corresponding Merchandise Inventory and Cost of Goods Sold (COGS) accounts. I will guide you step-by-step on how to enter these values.

Merchandise Inventory T-Account:

[tex]\[ \begin{array}{|l|c|c|} \hline \multicolumn{2}{|l|}{\text{Merchandise Inventory}} \\ \hline \text{Balance, beginning-of-year} & 41,092 & \\ \hline \text{Merchandise purchases} & 290,132 & \text{Discounts received on merchandise} & 2,322 \\ \hline \text{Returns by customers} & 2,380 & \text{Returns and allowances on merchandise} & 3,600 \\ \hline \text{Transportation-in merchandise} & 2,901 & \text{Cost of merchandise sold} & 283,000 \\ \hline \text{Balance, end-of-year} & 42,073 & \text{Shrinkage as of year-end} & 750 \\ \hline \end{array} \][/tex]

Now let's transfer the information to the T-Account format:

### Merchandise Inventory

Debit Side (Left):

1. Balance, beginning-of-year: \[tex]$41,092 2. Merchandise purchases: \$[/tex]290,132
3. Returns by customers: \[tex]$2,380 4. Transportation-in merchandise: \$[/tex]2,901

Credit Side (Right):

1. Discounts received on merchandise purchases: \[tex]$2,322 2. Returns and allowances from suppliers: \$[/tex]3,600
3. Cost of merchandise sold: \[tex]$283,000 4. Shrinkage as of year-end: \$[/tex]750
5. Balance, end-of-year: \[tex]$42,073 Here is the final T-account with all the entries: \[ \begin{array}{|l|c|c|} \hline \multicolumn{2}{|l|}{\text{Merchandise Inventory}} \\ \hline \text{Balance, beginning-of-year} & 41,092 & \\ \hline \text{Merchandise purchases} & 290,132 & \text{Discounts received on merchandise} & 2,322 \\ \hline \text{Returns by customers} & 2,380 & \text{Returns and allowances on merchandise} & 3,600 \\ \hline \text{Transportation-in merchandise} & 2,901 & \text{Cost of merchandise sold} & 283,000 \\ \hline \text{Balance, end-of-year} & 42,073 & \text{Shrinkage as of year-end} & 750 \\ \hline \end{array} \] ### Cost of Goods Sold Although this account is not requested explicitly here, it’s useful to note that: - Debit Side: - Cost of merchandise sold: \$[/tex]283,000
- Shrinkage: \$750

- Credit Side:
- Transfers of cost from Merchandise Inventory

This completes the detailed step-by-step solution for entering Tesla's merchandising activities in the Merchandise Inventory account for the year.
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