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
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Author:Scott, Cathy J.
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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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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=
 
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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