The beginning balance in supplies inventory is $25,000. During the year, $13,500 of supplies were purchased...
The beginning balance in supplies inventory is $25,000. During the year, $13,500 of supplies were purchased on credit. The ending balance in the supplies inventory account is $23,750. What was the supply expense for the year, wages payable had a beginning balance of $35,000, wage expense for the period was $$48,000. The ending balance in the wages payable account was $36,300. How much cash was paid for wages during the period?
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The beginning balance in supplies inventory is $25,000. During
the year, $13,500 of supplies were purchased...
The beginning balance in cash was $100,000. The beginning balance in accounts receivable was $50,000 and...
The beginning balance in cash was $100,000. The beginning balance in accounts receivable was $50,000 and the ending balance was $45,000. The beginning balance in wages payable was $40,000 and the ending balance in wages payable was $41,000. During the year the company had credit sales of $120,000 and wage expense of $48,000. What was the ending cash balance
1) The supplies account has a balance of $3,000 at the beginning of the year and...
1) The supplies account has a balance of $3,000 at the beginning of the year and was debited during the year for $1,400, representing the total of supplies purchased during the year. If $800 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is ______________? 2) ABC, Inc. Made a Prepaid Rent payment of $4,000 on January 1st. The company's monthly rent is $800. The...
The balance in the supplies inventory account was $24019 at the beginning of the year. During...
The balance in the supplies inventory account was $24019 at the beginning of the year. During the year, a total of $92290 of supplies were purchased. These were debited to the supplies expense account. At year end, a count of office supplies revealed that there was $10204 of office supplies on hand. What is the office supplies expense for the year? Select one: O a. $106105 O b. $78475 O c. $92290 O d. $10204
The supplies account had a beginning balance of $1,948. Supplies purchased during the period totaled $4,593....
The supplies account had a beginning balance of $1,948. Supplies purchased during the period totaled $4,593. At the end of the period before adjustment, $255 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Cash Supplies Supplies Expense
A company reported cost of goods sold of $1,520,000 for the year. During the year, inventory...
A company reported cost of goods sold of $1,520,000 for the year. During the year, inventory decreased from a $92,000 beginning balance to a $75,000 ending balance, and accounts payable decreased from a $48,000 beginning balance to a $38,000 ending balance. How much is the cash paid for merchandise purchased during the year? $1,547,000 $1,503,000 $1,527,000 $1,513,000
At the beginning of the year, office supplies of $900 were on hand. During the year,...
At the beginning of the year, office supplies of $900 were on hand. During the year, Rocket Air Conditioning Service paid $2,000 for more office supplies. At the end of the year, Rocket has $800 of office supplies on hand. Read the requirements. Requirement 1. Record the adjusting entry assuming that Rocket records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include...
At the beginning of the year, office supplies of $1,200 were on hand. During the year,...
At the beginning of the year, office supplies of $1,200 were on hand. During the year, Amble Air Conditioning Service paid $3,500 for more office supplies. At the end of the year, Amble has $900 of office supplies on hand. Read the requirements Requirement 1. Record the adjusting entry assuming that Amble records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include...
The balance in the Wages Payable account was $25,000 at the beginning of the month. Wages...
The balance in the Wages Payable account was $25,000 at the beginning of the month. Wages accrued during the month totaled $54.000 Wages! paid during the month were $63,000. Multiple Choice The balance of the Wages Payable account at the end of the month was $16,000. The balance of the Wages Payable account at the end of the month was $34.000 O Wages expense for the month totaled $63,000. C) Wages expense for the month totaled $79,000.
Solve for the missing amounts in the T-account given below. Assume that there is only one...
Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account during the month. Required: a. The Supplies account had a balance of $1,650 at the beginning of the month and $2,500 at the end of the month. The cost of supplies purchased during the month was $4,800. Calculate the cost of supplies used during the month. Supplies Beginning balance Supplies purchased Supplies used Ending...
Solve for the missing amounts in the T-account given below. Assume that there is only one...
Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account during the month. Required: a. The Supplies account had a balance of $1,300 at the beginning of the month and $1,800 at the end of the month. The cost of supplies purchased during the month was $4.100. Calculate the cost of supplies used during the month. Supplies Beginning balance Supplies purchased Ending balance Supplies used...
The balance in the supplies inventory account was $24019 at the beginning of the year. During the year, a total of $92290 of supplies were purchased. These were debited to the supplies expense account. At year end, a count of office supplies revealed that there was $10204 of office supplies on hand. What is the office supplies expense for the year? Select one: O a. $106105 O b. $78475 O c. $92290 O d. $10204
The supplies account had a beginning balance of $1,948. Supplies purchased during the period totaled $4,593. At the end of the period before adjustment, $255 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Cash Supplies Supplies Expense
A company reported cost of goods sold of $1,520,000 for the year. During the year, inventory decreased from a $92,000 beginning balance to a $75,000 ending balance, and accounts payable decreased from a $48,000 beginning balance to a $38,000 ending balance. How much is the cash paid for merchandise purchased during the year? $1,547,000 $1,503,000 $1,527,000 $1,513,000
At the beginning of the year, office supplies of $900 were on hand. During the year, Rocket Air Conditioning Service paid $2,000 for more office supplies. At the end of the year, Rocket has $800 of office supplies on hand. Read the requirements. Requirement 1. Record the adjusting entry assuming that Rocket records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include...
At the beginning of the year, office supplies of $1,200 were on hand. During the year, Amble Air Conditioning Service paid $3,500 for more office supplies. At the end of the year, Amble has $900 of office supplies on hand. Read the requirements Requirement 1. Record the adjusting entry assuming that Amble records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense T-accounts. Make sure to include...
The balance in the Wages Payable account was $25,000 at the beginning of the month. Wages accrued during the month totaled $54.000 Wages! paid during the month were $63,000. Multiple Choice The balance of the Wages Payable account at the end of the month was $16,000. The balance of the Wages Payable account at the end of the month was $34.000 O Wages expense for the month totaled $63,000. C) Wages expense for the month totaled $79,000.
Solve for the missing amounts in the T-account given below. Assume that there is only one debit entry and one credit entry in the account during the month. Required: a. The Supplies account had a balance of $1,300 at the beginning of the month and $1,800 at the end of the month. The cost of supplies purchased during the month was $4.100. Calculate the cost of supplies used during the month. Supplies Beginning balance Supplies purchased Ending balance Supplies used...
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