On December 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $276. A physical count of the supplies inventory shows that $106 of supplies remain. Question Content Area Analyze this adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.) Balance Sheet Supplies TB = adj= balance=
On December 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $276. A physical count of the supplies inventory shows that $106 of supplies remain. Question Content Area Analyze this adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.) Balance Sheet Supplies TB = adj= balance=
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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Question
On December 31, the
Question Content Area
Analyze this adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.)
Balance Sheet Supplies
TB =
adj=
balance=
Income Sheet Supplies Expense
Adj=
Page:
DATE | ACCOUNT TITLE | DOC. NO. |
POST. REF. |
DEBIT | CREDIT | ||
---|---|---|---|---|---|---|---|
1 | 20-- Dec. 31 |
Supplies Expense
|
|||||
2 |
Supplies
|
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