At December 31, 2018, you obtained the following data relating to supplies. Unadjusted balance in Supplies on December 31, 2018 $ 1,757 Unadjusted balance in Supplies Expense on December 31, 2018 3,477 Supplies on hand, counted on December 31, 2018 588 What amount should be reported on the 2018 income statement as Supplies Expense?
At December 31, 2018, you obtained the following data relating to supplies. Unadjusted balance in Supplies on December 31, 2018 $ 1,757 Unadjusted balance in Supplies Expense on December 31, 2018 3,477 Supplies on hand, counted on December 31, 2018 588 What amount should be reported on the 2018 income statement as Supplies Expense?
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 3.8E: Adjustment for supplies Answer each of the following independent questions concerning supplies and...
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At December 31, 2018, you obtained the following data relating to supplies.
Unadjusted balance in Supplies on December 31, 2018 $ 1,757
Unadjusted balance in Supplies Expense on December 31, 2018 3,477
Supplies on hand, counted on December 31, 2018 588
What amount should be reported on the 2018 income statement as Supplies Expense?
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