A company purchased office supplies costing $5300 and debited Supplies for the full amount. At the...
A company purchased office supplies costing $5300 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $950 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be:
|
debit Supplies, $950; credit Supplies Expense, $950. |
|
debit Supplies Expense, $4350; credit Supplies, $4350. |
|
debit Supplies, $4350; credit Supplies Expense, $4350. |
|
debit Supplies Expense, $6250; credit Supplies, $6250. |
Homework Answers
Journal entry
| Date | account and explanation | Debit | Credit |
| Supplies expense (5300-950) | 4350 | ||
| Supplies | 4350 | ||
So answer is b) debit Supplies Expense, $4350; credit Supplies, $4350.
Add Answer to:
A company purchased office supplies costing $5300 and debited
Supplies for the full amount. At the...
Skysong, Inc. purchased office supplies costing $5740 and debited Supplies for the full amount. At the...
Skysong, Inc. purchased office supplies costing $5740 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2050 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: debit Supplies Expense, $2050; credit Supplies, $2050. O debit Supplies, $3690; credit Supplies Expense, $3690. O debit Supplies Expense, $3690; credit Supplies, $3690. debit Supplies, $2050; credit Supplies Expense, $2050.
18-20 18. Bill's Consulting Company purchased supplies costing $10,000 and debited Supplies for the full amount....
18-20
18. Bill's Consulting Company purchased supplies costing $10,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2,000 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be a. Debit Supplies Expense, $10,000; Credit Supplies, $10,000 b. Debit Supplies, $10,000; Credit Supplies Expense, $10,000. C. Debit Supplies Expense, $8,000; Credit Supplies, $8,000. d. Debit Supplies, $8,000Credit Supplies Expense, $8,000....
Ignatenko Company purchased office supplies costing $5,000 and debited Supplies for the full amount. Supplies on...
Ignatenko Company purchased office supplies costing $5,000 and debited Supplies for the full amount. Supplies on hand at the end of the accounting period were $1,300. The appropriate adjusting journal entry to be made would be: Supplies Expense Supplies $3,700 $3,700 Supplies Expense Supplies $1,300 $1,300 Supplies Supplies Expense $1,300 $4,000 Supplies Supplies Expense $3,700 $3,700
Sheffield Corp. purchased office supplies costing $7600 and increase Supplies for the full amount. At the...
Sheffield Corp. purchased office supplies costing $7600 and increase Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2500 still on hand. The appropriate adjustment to be made at the end of the period would be: increase Supplies Expense, $2500; decrease Supplies, $2500. O increase Supplies, $2500; decrease Supplies Expense, $2500. O increase Supplies, $5100; decrease Supplies Expense, $5100. O increase Supplies Expense, $5100; decrease Supplies, $5100.
Question 14 Question 14 of 20 1 points Save As Been The-Bonnet Company purchased office supplies...
Question 14 Question 14 of 20 1 points Save As Been The-Bonnet Company purchased office supplies costing $8.000 and de l es for the on hand. The appropriateadusting journal entry to be made at the end of the period would be amount At the end of the accounting period i cal count of succ e d Debit Supplies 2200: Credit Supplies Expense S2 200 Debet Supplies 55.500. Credit Supplies Expense. 55.800 Debit Supplies Expense,55,800Credit Supplies 55.800 Debt Supplies Expense 52.200Credit...
12 During a company's first year of operations, the asset account, Office Supplies, was debited for...
12 During a company's first year of operations, the asset account, Office Supplies, was debited for $4,100 for the purchases of supplies. At year-end, a physical count of the supplies on hand revealed that $1,725 of unused supplies were available for future use. How will the related adjusting entry affect the company's financial statements? 1.17 points Multiple Choice Skipped Expenses will increase and assets will decrease by $2,375. eBook References 이 Assets and expenses will both increase by $1,725. Expenses...
If Bojana Tax Services' office supplies account balance on March 1 was $400, the company purchased...
If Bojana Tax Services' office supplies account balance on March 1 was $400, the company purchased $550 of supplies during the month, and a physical count of supplies on hand at the end of March indicated $500 unused, what is the amount of the adjusting entry for office supplies on March 31? Multiple Choice $450 $550 $950 $400 $350
[3 points each = ber 31, 2010, before any year-end adjustments, J.Tucker's Insurance Expense acco ce...
[3 points each = ber 31, 2010, before any year-end adjustments, J.Tucker's Insurance Expense acco ce of $1,800 and its Prepaid Insurance account had a balance of $5,000. It was determine $2,000 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for th would be: A) $1,800 B $2,000 $3,800 D) $5,000 2. When expenses for a reporting period exceed revenue for the period: A) Equity is reduced B) The company must borrow money to remain in...
Which of the following is an example of a current liability Accounts Payable b. Cash Equipment...
Which of the following is an example of a current liability Accounts Payable b. Cash Equipment d Note payable due in 5 years 15 business pays weekly salaries of $5.000 on Friday for a five-day week ending on the wyThe adjusting entry necessary at the end of the fiscal period ending on a Tuesday Debit Salaries and Wages Payable, $2.000; Credit Cash, $2.000 Debit Salaries and Wages Expense $5,000 Credit Cash, $5.000 Debit Salaries and Wages Expense S2000 Cred Salaries...
At the beginning of the period, a company reports a balance in office supplies of $450....
At the beginning of the period, a company reports a balance in office supplies of $450. During the period, the company purchases an additional $3,900 of office supplies for cash. By the end of the period, only $950 of office supplies remains Record the period-end adjusting entry. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the period-end adjusting entry. Note: Enter debits before...
Skysong, Inc. purchased office supplies costing $5740 and debited Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2050 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be: debit Supplies Expense, $2050; credit Supplies, $2050. O debit Supplies, $3690; credit Supplies Expense, $3690. O debit Supplies Expense, $3690; credit Supplies, $3690. debit Supplies, $2050; credit Supplies Expense, $2050.
18-20
18. Bill's Consulting Company purchased supplies costing $10,000 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2,000 still on hand. The appropriate adjusting journal entry to be made at the end of the period would be a. Debit Supplies Expense, $10,000; Credit Supplies, $10,000 b. Debit Supplies, $10,000; Credit Supplies Expense, $10,000. C. Debit Supplies Expense, $8,000; Credit Supplies, $8,000. d. Debit Supplies, $8,000Credit Supplies Expense, $8,000....
Ignatenko Company purchased office supplies costing $5,000 and debited Supplies for the full amount. Supplies on hand at the end of the accounting period were $1,300. The appropriate adjusting journal entry to be made would be: Supplies Expense Supplies $3,700 $3,700 Supplies Expense Supplies $1,300 $1,300 Supplies Supplies Expense $1,300 $4,000 Supplies Supplies Expense $3,700 $3,700
Sheffield Corp. purchased office supplies costing $7600 and increase Supplies for the full amount. At the end of the accounting period, a physical count of office supplies revealed $2500 still on hand. The appropriate adjustment to be made at the end of the period would be: increase Supplies Expense, $2500; decrease Supplies, $2500. O increase Supplies, $2500; decrease Supplies Expense, $2500. O increase Supplies, $5100; decrease Supplies Expense, $5100. O increase Supplies Expense, $5100; decrease Supplies, $5100.
Question 14 Question 14 of 20 1 points Save As Been The-Bonnet Company purchased office supplies costing $8.000 and de l es for the on hand. The appropriateadusting journal entry to be made at the end of the period would be amount At the end of the accounting period i cal count of succ e d Debit Supplies 2200: Credit Supplies Expense S2 200 Debet Supplies 55.500. Credit Supplies Expense. 55.800 Debit Supplies Expense,55,800Credit Supplies 55.800 Debt Supplies Expense 52.200Credit...
12 During a company's first year of operations, the asset account, Office Supplies, was debited for $4,100 for the purchases of supplies. At year-end, a physical count of the supplies on hand revealed that $1,725 of unused supplies were available for future use. How will the related adjusting entry affect the company's financial statements? 1.17 points Multiple Choice Skipped Expenses will increase and assets will decrease by $2,375. eBook References 이 Assets and expenses will both increase by $1,725. Expenses...
[3 points each = ber 31, 2010, before any year-end adjustments, J.Tucker's Insurance Expense acco ce of $1,800 and its Prepaid Insurance account had a balance of $5,000. It was determine $2,000 of the Prepaid Insurance had expired. The adjusted balance for Insurance Expense for th would be: A) $1,800 B $2,000 $3,800 D) $5,000 2. When expenses for a reporting period exceed revenue for the period: A) Equity is reduced B) The company must borrow money to remain in...
Which of the following is an example of a current liability Accounts Payable b. Cash Equipment d Note payable due in 5 years 15 business pays weekly salaries of $5.000 on Friday for a five-day week ending on the wyThe adjusting entry necessary at the end of the fiscal period ending on a Tuesday Debit Salaries and Wages Payable, $2.000; Credit Cash, $2.000 Debit Salaries and Wages Expense $5,000 Credit Cash, $5.000 Debit Salaries and Wages Expense S2000 Cred Salaries...
At the beginning of the period, a company reports a balance in office supplies of $450. During the period, the company purchases an additional $3,900 of office supplies for cash. By the end of the period, only $950 of office supplies remains Record the period-end adjusting entry. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the period-end adjusting entry. Note: Enter debits before...
Most questions answered within 3 hours.
-
Based on historical data, your team knows what proportion of the
company's orders come from Males...
asked 5 minutes ago -
8. Which of the following atoms has the largest magnitude
electron affinity?
(a) Sodium (Na)
(b)...
asked 7 minutes ago -
Assess the two types of tests of cognitive abilities. (
regarding HR course)
asked 12 minutes ago -
1.Write an inspiring vision statement for an organization where
you work or have worked. If the...
asked 13 minutes ago -
2. Is fair trade coffee sustainable for the mass market,
or is it a niche product...
asked 14 minutes ago -
Please answer this asap in MATLAB.
In the following for loop, the the loop is executed...
asked 26 minutes ago -
A 50.0-g golf ball is driven from the tee with an initial speed
of 44.6 m/s...
asked 21 minutes ago -
Use the molar concentration of the 50 mL solution to calculate
the moles of Cr(III) in...
asked 24 minutes ago -
Calculate the molarity of Fe3+ in solution A.
Solution A: 10 mL of 0.0600 M Fe(No3)3 ...
asked 32 minutes ago -
two dogs pull 2 strings horizontally which are tied to a sleigh.
the angle between the...
asked 33 minutes ago -
please write a paper about any ethical violation based on the
case study Stanford's Prison Experiment....
asked 54 minutes ago -
What is the advantage of considering each of the
following in calculating the work done by...
asked 1 hour ago