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
-
Supplies and a credit to Service Revenue.
-
Supplies Expense and a credit to Supplies.
-
Supplies and a credit to Cash.
-
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
Add Answer to:
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...
Record the adjusting entry for the spa services obtained by a customer by using a $70 gift certificate that was purchased earlier in the month. Use of the gift certificate to pay for these services had not yet been recorded. Note: Enter debits before credits. Transaction Credit General Journal Service Revenue + Service Revenue Debit 701
The journal entry to record the prior year’s deferred Inflows: property taxes (those expected to be...
The journal entry to record the prior year’s deferred Inflows: property taxes (those expected to be collected more than 60 days beyond year-end) as revenue in the current year would include: Multiple Choice A credit to Revenues Control. A debit to Deferred Inflows: Property Taxes; and a credit to Revenues Control. A debit to Deferred Inflows: Property Taxes. A debit to Revenues Control.
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
$1,800...
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 gift certificate that was purchased earlier in the month. Use of the gift certificate to pay for these services had not yet been recorded. Note: Enter debits before credits. Transaction Credit General Journal Service Revenue + Service Revenue Debit 701
Most questions answered within 3 hours.
-
The following temperatures show the (fictional) daily low
measured at O'Hare airport every January 1st from...
asked 6 minutes ago -
Your friend is interested in the characteristics of fast tree
planters. He searched through the records...
asked 14 minutes ago -
. 0.67 g of Ag is deposited electrolytically from
AgNO3 after a certain period of time...
asked 15 minutes ago -
assuming that the boric acid, h3po3 present at the end of the
borax tritation has a...
asked 14 minutes ago -
When a carbonate solution is acidified, carbon dioxide is
produced.
2H+(aq) + CO32-(aq) → H2O(l) +...
asked 53 minutes ago -
A reaction has the following rate law: Rate =
kr[A][B]2. In experiment 1, the
concentrations of...
asked 51 minutes ago -
king owns a large number of public pay phones. as rhe use of
payphones decline deamatically,...
asked 54 minutes ago -
3.7 - A book is sitting on a table. The mass of the book
is 1...
asked 1 hour ago -
Which term describes the process by which a single strand of DNA
serves as a template...
asked 1 hour ago -
LAB FOOD DRING
ANSWER THE QUESTIONS:
Q1. What value is the moisture content versus time and...
asked 1 hour ago -
You are told that an object has zero acceleration. Two forces on
the object are: F_1...
asked 1 hour ago -
The usual starting point for preparing a master budget is
forecasting or estimating:
Multiple Choice
Sales....
asked 1 hour ago