Homework Answers
Opening supplies is $330
Purchase made is $ 1500
Total supplies would have been $1830
Physical inventory at the end of period $585
Sale made or supplies used during the period is (330+1500-585) =$1245
A credit to supplies for $1245 would be required to reflect the correct accounting.
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GreenSource Company began the period with $330 in supplies. During the month, an additional $1,500 of...
Jem #4 of 20 If an adjustment for salaries earned but not recorded or paid in...
Jem #4 of 20 If an adjustment for salaries earned but not recorded or paid in the amount of $85.000 were to be omitted, how would this affect the financia statements? 5 OT 20 GreenSource Company began the period with $330 in supplies. During the month, an additional $1,500 of supplies were purchased. A physical inventory at the end of the period revealed that there were $585 of supplies on hand. The adjusting entry should include a
On January 1, Ogden, Inc. had $1,500 of supplies on hand. During January, Ogden purchased $5,500...
On January 1, Ogden, Inc. had $1,500 of supplies on hand. During January, Ogden purchased $5,500 worth of new supplies. At the end of the month, a cour revealed $700 worth of supplies remaining on the shelves. Prepare the adjusting journal entry required at the end of the month. Include date...omit explanations. Show your work for all calculated numbers and label your numbers. 1 i T: I B I U ! E > < III Date Account Debit Credit
At the beginning of the month, supplies were $ 2,500. During the month, $3,500 of supplies...
At the beginning of the month, supplies were $ 2,500. During the month, $3,500 of supplies were purchased. At month's end, 500 of supplies are still on hand. What is the • adjusting entry? •ending balance in the Supplies account? First, prepare the adjusting journal entry for Supplies. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts and Explanations Debit Credit The ending balance in the Supplies account was $ .
Knowledge Check 01 A company is in its first month of operations. Supplies worth $4,000 were...
Knowledge Check 01 A company is in its first month of operations. Supplies worth $4,000 were purchased on January 5. At the end of the month supplies worth $3,000 were in hand. What adjusting entry would be made at the end of January? Post the adjusting entry for the scenario provided. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. record the consumption of supplies during the month if supplies are...
A company purchased office supplies costing $5300 and debited Supplies for the full amount. At the...
A company purchased office supplies costing $5300 and debited
Supplies for the full amount. At the end of the accounting period,
a physical count of office supplies revealed $950 still on hand.
The appropriate adjusting journal entry to be made at the end of
the period would be:
debit Supplies, $950; credit Supplies Expense, $950.
debit Supplies Expense, $4350; credit Supplies, $4350.
debit Supplies, $4350; credit Supplies Expense, $4350.
debit Supplies Expense, $6250; credit Supplies, $6250.
Question 7 0.5 pts A corporation began the period with $3,500 of supplies on hand and...
Question 7 0.5 pts A corporation began the period with $3,500 of supplies on hand and recorded as assets. On the last day of the accounting period, there are $1,100 of unused office supplies on hand. What should the accountant do? O Debit Supplies and credit Supplies Expense for $1,100. Debit Supplies Expense for $1,100 and credit Supplies for $1,100. O Debit Supplies Expense for $2,400 and credit Supplies for $2,400. o Debit Supplies and credit Supplies Expense for $3,500....
6. At the beginning of the period, a company reports a balance in office supplies of $500. During the period, the compan...
6. At the beginning of the period, a company reports a balance in office supplies of $500. During the period, the company purchases an additional $3,500 of office supplies for cash. By the end of the period, only $700 of office supplies remains. RECORD THE PERIOD END ADJUSTING ENTRY 7.A company purchases one year of flood insurance in advance on May 1, paying $24,000 ($2,000/month). Record the adjusting entry on December 31. Record the adjusting entry on December 31. Note:...
General Journal instruction The supplies account had a beginning balance of $1,500. Supplies purchased during the...
General Journal instruction The supplies account had a beginning balance of $1,500. Supplies purchased during the period toiled $4,000. At the end of the period before adjustment 5500 of supplies were on hand Required Prepare the aquating entry for supplies Refer to the Chart of Accounts for exact wording of account is.
Skysong, Inc. purchased office supplies costing $5740 and debited Supplies for the full amount. At the...
Skysong, Inc. purchased office supplies costing $5740 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2050 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: debit Supplies Expense, $2050; credit Supplies, $2050. O debit Supplies, $3690; credit Supplies Expense, $3690. O debit Supplies Expense, $3690; credit Supplies, $3690. debit Supplies, $2050; credit Supplies Expense, $2050.
The supplies account had a beginning balance of $1,504. Supplies purchased during the period totaled $3,934....
The supplies account had a beginning balance of $1,504. Supplies purchased during the period totaled $3,934. At the end of the period before adjustment, $529 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank.
Jem #4 of 20 If an adjustment for salaries earned but not recorded or paid in the amount of $85.000 were to be omitted, how would this affect the financia statements? 5 OT 20 GreenSource Company began the period with $330 in supplies. During the month, an additional $1,500 of supplies were purchased. A physical inventory at the end of the period revealed that there were $585 of supplies on hand. The adjusting entry should include a
On January 1, Ogden, Inc. had $1,500 of supplies on hand. During January, Ogden purchased $5,500 worth of new supplies. At the end of the month, a cour revealed $700 worth of supplies remaining on the shelves. Prepare the adjusting journal entry required at the end of the month. Include date...omit explanations. Show your work for all calculated numbers and label your numbers. 1 i T: I B I U ! E > < III Date Account Debit Credit
A company purchased office supplies costing $5300 and debited
Supplies for the full amount. At the end of the accounting period,
a physical count of office supplies revealed $950 still on hand.
The appropriate adjusting journal entry to be made at the end of
the period would be:
debit Supplies, $950; credit Supplies Expense, $950.
debit Supplies Expense, $4350; credit Supplies, $4350.
debit Supplies, $4350; credit Supplies Expense, $4350.
debit Supplies Expense, $6250; credit Supplies, $6250.
Question 7 0.5 pts A corporation began the period with $3,500 of supplies on hand and recorded as assets. On the last day of the accounting period, there are $1,100 of unused office supplies on hand. What should the accountant do? O Debit Supplies and credit Supplies Expense for $1,100. Debit Supplies Expense for $1,100 and credit Supplies for $1,100. O Debit Supplies Expense for $2,400 and credit Supplies for $2,400. o Debit Supplies and credit Supplies Expense for $3,500....
General Journal instruction The supplies account had a beginning balance of $1,500. Supplies purchased during the period toiled $4,000. At the end of the period before adjustment 5500 of supplies were on hand Required Prepare the aquating entry for supplies Refer to the Chart of Accounts for exact wording of account is.
Skysong, Inc. purchased office supplies costing $5740 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2050 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: debit Supplies Expense, $2050; credit Supplies, $2050. O debit Supplies, $3690; credit Supplies Expense, $3690. O debit Supplies Expense, $3690; credit Supplies, $3690. debit Supplies, $2050; credit Supplies Expense, $2050.
The supplies account had a beginning balance of $1,504. Supplies purchased during the period totaled $3,934. At the end of the period before adjustment, $529 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank.
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