Homework Answers
Correct answer-----------106,105
Working
| Supplies at beginning | $ 24,019.00 |
| Supplies purchased | $ 92,290.00 |
| Total supplies available for use | $ 1,16,309.00 |
| Less: Supplies in the end of year | $ 10,204.00 |
| Supplies used and charged as expense | $ 1,06,105.00 |
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The balance in the supplies inventory account was $24019 at the beginning of the year. During...
The supplies account had a balance of $1,354 at the beginning of the year and was...
The supplies account had a balance of $1,354 at the beginning of the year and was debited during the year for $3,272, representing the total of supplies purchased during the year. If $2,718 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is O $4,626 b. $1,908 c. $2,718 d. $5,990
The supplies account had a balance of $887 at the beginning of the year and was...
The supplies account had a balance of $887 at the beginning of the year and was debited during the year for $3,642, representing the total of supplies purchased during the year. If $2,605 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is $2,605 $6,247 $1,924 $4,529
1) The supplies account has a balance of $3,000 at the beginning of the year and...
1) The supplies account has a balance of $3,000 at the beginning of the year and was debited during the year for $1,400, representing the total of supplies purchased during the year. If $800 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is ______________? 2) ABC, Inc. Made a Prepaid Rent payment of $4,000 on January 1st. The company's monthly rent is $800. The...
The Supplies account had a balance at the beginning of year 3 of $7700 (before the...
The Supplies account had a balance at the beginning of year 3 of $7700 (before the reversing entry). Payments for purchases of supplies during year 3 amounted to $46200 and were recorded as expense. A physical count at the end of year 3 revealed supplies costing $14000 were on hand. Reversing entries are used by this company. The required adjusting entry at the end of year 3 will include a debit to:
The supplies account had a balance at the beginning of year 3 of $8,000 (before the...
The supplies account had a balance at the beginning of year 3 of $8,000 (before the reversing entry). Payments for purchases of supplies during year 3 amounted to $50,000 and were recorded as an expense. A physical count at the end of year 3 revealed supplies costing $14,500 was on hand. reversing entries are used by this company. the required adjusting entry at the end of year 3 will include a debit to?
The beginning balance in supplies inventory is $25,000. During the year, $13,500 of supplies were purchased...
The beginning balance in supplies inventory is $25,000. During the year, $13,500 of supplies were purchased on credit. The ending balance in the supplies inventory account is $23,750. What was the supply expense for the year, wages payable had a beginning balance of $35,000, wage expense for the period was $$48,000. The ending balance in the wages payable account was $36,300. How much cash was paid for wages during the period?
On January 1, 20x7 you had $ 12330 in your office supplies inventory account. During the...
On January 1, 20x7 you had $ 12330 in your office supplies inventory account. During the year you purchased an additional $ 44826 of office supplies. A physical count of the supplies on December 31, 20x7 reveals that you have $ 18896 of supplies on hand. What is supplies expense for the year ended December 31, 20x7? Select one: a. $ 51392 b. $ 12330 Cc. $ 76052 d. $ 38260 Check
a. The Supplies account has a $360 debit balance to start the year. No supplies were...
a. The Supplies account has a $360 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $140 of supplies remaining. Supplies Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. b. The Supplies account has an $950 debit balance to start the year....
Adjustment for Prepaid Expense The supplies account had a beginning balance of $5,010 and was debited...
Adjustment for Prepaid Expense The supplies account had a beginning balance of $5,010 and was debited for $2,150 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $2,720.
Adjustment for Prepaid Expense The supplies account had a beginning balance of $8,450 and was debited...
Adjustment for Prepaid Expense The supplies account had a beginning balance of $8,450 and was debited for $4,480 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $5,300.
The supplies account had a balance of $1,354 at the beginning of the year and was debited during the year for $3,272, representing the total of supplies purchased during the year. If $2,718 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is O $4,626 b. $1,908 c. $2,718 d. $5,990
On January 1, 20x7 you had $ 12330 in your office supplies inventory account. During the year you purchased an additional $ 44826 of office supplies. A physical count of the supplies on December 31, 20x7 reveals that you have $ 18896 of supplies on hand. What is supplies expense for the year ended December 31, 20x7? Select one: a. $ 51392 b. $ 12330 Cc. $ 76052 d. $ 38260 Check
a. The Supplies account has a $360 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $140 of supplies remaining. Supplies Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. b. The Supplies account has an $950 debit balance to start the year....
Adjustment for Prepaid Expense The supplies account had a beginning balance of $8,450 and was debited for $4,480 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year, assuming the amount of supplies on hand is $5,300.
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