Question

it says my values for B, step one and C step one are wrong. not sure what i did wrong

b. The Supplies account has an $1,800 debit balance to start the year. Supplies of $4,100 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $1,150 of supplies remaining 8.33 points DR or CR? 1,800 Debit Supplies 1,800 Step 1: Determine what the current account balance equals. $ Step 2: Determine what the current account balance should equal 1,150 Debit 1,150 Credit References Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Adjusting Entry Debit Supplies expense 4.750 Supplies 4,750 c. The Supplies account has a $6,000 debit balance to start the year. During the current year, supplies of $13,400 were purchased and debited to the Supplies account. The Inventory of supplies available at December 31 totaled $3.860. Step 1: Determine what the current account balance equals. I DR or CR? s 6,000 Debit Supplies 6,000 15,540 Step 2: Determine what the current account balance should equal. 5 3,860 Debit 3,800 Credit Step 3 Record the December 31, adjusting entry to get from step 1 to step 2 Adjusting Entry Debit Supplies expense 15,540 Supplies 15,840

Answer 1

Question ! b) Step 1 i Chorrent Account Balance = $5,900 Debit . Sterz: Current Account balance should = $1,150 Debit Step 3: Adjusting Entry. Debit (3) creditis) Supplies Expense($5,900-$1,150) $4750 Supplies: $4,750 -Sachineaien supplies - 5,900 niso 1,150 l Explanation: Current Account Balance - Opening Balance t purchases = $1800 +$.n1oo - $5,900

Question 4- () Step 1: Current Account Balance $191,400 Step ai Current Account balance should - $3,260 Step 3: Adjusting Entry Debit(I) Credits supplies Expense ($19,400-$3,860) $15,540 $15,540 Supplies 7 TTT supplies 19,6ool 15,540 3,8601 Explanations Current Account Balance = opening balance of purchases = $61,000 + $13,400 =$19,400

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