Answered: 7 Supplies had a beginning balance of…

Name: period.3) Supplies had a beginning balance of $4.500. Duringthe perio
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Description: period.3) Supplies had a beginning balance of $4.500. Duringthe period, $1500 of Supplies were purchased. Theending balance in supplies was $ 2.800. What isthe adjusting entry for Supplies used during ther19720my sontAtJOUB?RICCOHCOCES2apad shall 24

Business

Accounting

7 Supplies had a beginning balance of $4.500. During the period, $15.00 of Supplies were purchased. The ending balance in Suppines was $2,800. What is the adjusting entry for Supplies used during the

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter11: Work Sheet And Adjusting Entries

Section: Chapter Questions

Problem 5QY: The Supplies account has a 1,400 balance. A physical inventory is taken at the end of the fiscal...

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Adjustment process and financial statements Adjustment data for Ms. Ellen’s Laundry Inc. for the year ended December 31, 20Y8. are as follows: a. Wages accrued but not paid at December 31. $2150 h. Depreciation of equipment during the year. $12500 c. Laundry supplies on hand at December 31. $1,500 d. Insurance premiums expired. $4600 Instructions 1. Using the following integrated financial statement framework, record each adjustment to the appropriate accounts, identifying each adjustment by its letter. After all adjustments are recorded, determine the balances.
The Supplies account has a 1,400 balance. A physical inventory is taken at the end of the fiscal year, and the amount on hand is determined to be 300. What adjusting entry is required to record the supplies used? a. Supplies 300 DR, Cash 300 CR b. Supplies Expense 1,400 DR, Supplies 1,400 CR c. Supplies 1,100 DR, Supplies Expense 1,100 CR d. Supplies Expense 1,100 DR, Supplies 1,100 CR e. None of the above
ANALYSIS OF ADJUSTING ENTRY FOR SUPPLIES Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.) 1. Ending inventory of supplies is 260. 2. Amount of supplies used is 230.
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ANALY SIS OF ADJUSTING ENTRY FOR SUPPLIES Analyze each situation and indicate the correct dollar amount for the adjusting entry. 1. Ending inventory of supplies is 95. 2. Amount of supplies used is 280.
The balances of the ledger accounts of Beldren Home Center as of December 31, the end of its fiscal year, are as follows: Data for the adjustments are as follows: ab. Merchandise Inventory at December 31, 102,765. c. Wages accrued at December 31, 1,834. d. Supplies inventory (on hand) at December 31, 645. e. Depreciation of store equipment, 5,782. f. Depreciation of office equipment, 1,791. g. Insurance expired during the year, 845. h. Rent earned, 2,500. Required 1. Complete the work sheet after entering the account names and balances onto the work sheet. Ignore this step if using CLGL. 2. Journalize the adjusting entries. If using manual working papers, record adjusting entries on journal page 16.
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The supplies account had a beginning balance of $4,085 and was debited for $7,810 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $3,610. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select -
Bramble Company purchased supplies costing $7170 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2030 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be A) Debit Supplies Expense, $5140; Credit Supplies, $5140. B) Debit Supplies, $5140; Credit Supplies Expense, $5140. C) Debit Supplies, $2030; Credit Supplies Expense, $2030. D) Debit Supplies Expense, $2030; Credit Supplies, $2030.