At the end of the month, the adjusting journal entry to record the use of supplies...
At the end of the month, the adjusting journal entry to record the use of supplies would include a debit to:
Multiple Choice
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Supplies and a credit to Service Revenue.
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Supplies Expense and a credit to Supplies.
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Supplies and a credit to Cash.
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Supplies and a credit to Supplies Expense.
Homework Answers
answers: Supplies Expenses and a credit to Supplies
Adjustment Journal entry for the Use of the Supplies Expenses :
Debit: Supplies Expenses
Credit: Supplies
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At the end of the month, the adjusting journal entry to record
the use of supplies...
On January 7, a corporation purchased supplies of $1,200. At the end of the month it...
On January 7, a corporation purchased supplies of $1,200. At the end of the month it was determined that the supplies at the end of the period was only $200. What is the ADJUSTING entry that should be recorded as a result of this information? Debit supplies; credit supplies expense Debit supplies expense; credit Supplies Debit accounts receivable; credit Supplies expense Debit supplies ; credit cash Adjusting journal entries are divided into two main categories. What are these called? Depreciation...
1. Record the adjusting entry assuming that Derby records the purchase of office supplies by initially...
1. Record the adjusting entry assuming that Derby 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 beginning balance and purchase of office supplies in the Office Supplies T-account. 2. Record the adjusting entry assuming that Derby records the purchase of office supplies by initially debiting an expense account. Post the adjusting entry to the Office Supplies and Supplies Expense...
Multiple Choice Questions: 1) An example on an ACCRUAL journal entry is: A) Debit to Interest...
Multiple Choice Questions: 1) An example on an ACCRUAL journal entry is: A) Debit to Interest Expense and Credit to Interest Payable, because the expense has been incurred but it wasn't paid yet which creates a liability B) Debit to A/R and Credit to Service Revenue because the service has been provided and the customer already paid us in advance C) Debit to Salaries Expense and Credit to Salaries Payable, because the expense has been incurred and cash was paid...
View transaction list of 7 Journal entry worksheet 3:00:05 Record the consumption of supplies during the...
View transaction list of 7 Journal entry worksheet 3:00:05 Record the consumption of supplies during the month if supplies worth $4,000 were purchased on January 5 and at the end of the month supplies worth $3,000 were in hand. oped took Note: Enter debits before credits. Date General Journal Jan 31 Debit Credit Ask rint rences Record entry Clear entry View general journal View lans Journal entry worksheet Record the $2,100 rent paid for 3 months on January 1. Note:...
Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance...
Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering the account name and amount and indicating whether it is an addition (+) or subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity. The first transaction is provided as an illustration. a. During the month, Supplies Expense was debited $2,800 for...
The balance in the Supplies account before the adjusting entry is $500. At the end of...
The balance in the Supplies account before the adjusting entry is $500. At the end of the month there are $100 of supplies left. What is the adjusting entry account in use? Which account is debit and credit?
Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance...
Record the effect, if any, of the transaction entry or adjusting
entry on the appropriate balance sheet category or on the income
statement by entering the account name and amount and indicating
whether it is an addition (+) or subtraction (–). Column headings
reflect the expanded balance sheet equation; items that affect net
income should not be shown as affecting stockholders' equity. The
first transaction is provided as an illustration.
During the month, the Supplies (asset) account was debited
$1,800...
Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance...
Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering the account name and amount and indicating whether it is an addition (+) or subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity. The first transaction is provided as an illustration. a. During the month, the Supplies (asset) account was debited...
Record the adjusting entry for the spa services obtained by a customer by using a $70...
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The journal entry to record the prior year’s deferred Inflows: property taxes (those expected to be...
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1. Record the adjusting entry assuming that Derby 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 beginning balance and purchase of office supplies in the Office Supplies T-account. 2. Record the adjusting entry assuming that Derby records the purchase of office supplies by initially debiting an expense account. Post the adjusting entry to the Office Supplies and Supplies Expense...
View transaction list of 7 Journal entry worksheet 3:00:05 Record the consumption of supplies during the month if supplies worth $4,000 were purchased on January 5 and at the end of the month supplies worth $3,000 were in hand. oped took Note: Enter debits before credits. Date General Journal Jan 31 Debit Credit Ask rint rences Record entry Clear entry View general journal View lans Journal entry worksheet Record the $2,100 rent paid for 3 months on January 1. Note:...
Record the effect, if any, of the transaction entry or adjusting entry on the appropriate balance sheet category or on the income statement by entering the account name and amount and indicating whether it is an addition (+) or subtraction (-). Column headings reflect the expanded balance sheet equation; items that affect net income should not be shown as affecting stockholders' equity. The first transaction is provided as an illustration. a. During the month, Supplies Expense was debited $2,800 for...
Record the effect, if any, of the transaction entry or adjusting
entry on the appropriate balance sheet category or on the income
statement by entering the account name and amount and indicating
whether it is an addition (+) or subtraction (–). Column headings
reflect the expanded balance sheet equation; items that affect net
income should not be shown as affecting stockholders' equity. The
first transaction is provided as an illustration.
During the month, the Supplies (asset) account was debited
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