c. Ending office supplies inventory, $504. How do I post the as an adjustment to the...
c. Ending office supplies inventory,
$504.
How do I post the as an adjustment to the journal entry
worksheet?
Homework Answers
Hi since you have not provided the beginning office supplies inventory balance, I have left is blank.
Entry as below:
| Account titles | Debit | Credit |
| Office supplies expense | Beginning inventory - 504 | |
| Office supplies | Beginning inventory - 504 |
Office supplies expense is the difference between beginning and ending inventory of office supplies inventory. It is the utilized office supplies during the year.
Add Answer to:
c. Ending office supplies inventory,
$504.
How do I post the as an adjustment to the...
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Select the account name of the other account affected by the
Office Supplies adjustment. Post the adjustment to the two accounts
using a "Nov. 30" posting reference, and then calculate and enter
the ending balance of the accounts using a "Bal." posting
reference.
On November 1, Candid Equipment had a beginning balance in the Office Supplies account of $1,600. During the month, Candid purchased $1,900 of office supplies. At November 30, Candid Equipment had $1,300 of office supplies on hand....
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