If the adjustment for Supplies Inventory during the period was NOT made:
If the adjustment for Supplies Inventory during the period was NOT made:
Homework Answers
At the end of the accounting period, the total cost of supplies used during the period becomes an expense and an adjusting entry is made for it. If this adjusting entry is not made, the income statement will show higher income and the balance sheet will show supplies asset that actually does not exist
At the end of the accounting period, the cost of the supplies used during the period is computed and an adjusting entry is made to record supplies expense. This entry is made as follows:
Supplies expense Dr XXX
Supplies Cr XXX
Add Answer to:
If the adjustment for Supplies Inventory during the period was
NOT made:
Which of the following is an adjustment made at the end of an accounting period? O...
Which of the following is an adjustment made at the end of an accounting period? O A. Record revenue earned but not yet billed OB. Record depreciation expense for the period O C. Record supplies expense for supplies used during the period D. All of the above are adjustments
If prepaid rent has expired during the current period and no adjustment has been made, net...
If prepaid rent has expired during the current period and no adjustment has been made, net income for the current period will be overstated. O True O False Click to select your answer. MacBook Air 6.50 80 F3 F4
The supplies account had a beginning balance of $1,504. Supplies purchased during the period totaled $3,934....
The supplies account had a beginning balance of $1,504. Supplies purchased during the period totaled $3,934. At the end of the period before adjustment, $529 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank.
The supplies account had a beginning balance of $1,948. Supplies purchased during the period totaled $4,593....
The supplies account had a beginning balance of $1,948. Supplies purchased during the period totaled $4,593. At the end of the period before adjustment, $255 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Cash Supplies Supplies Expense
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?
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?
GreenSource Company began the period with $330 in supplies. During the month, an additional $1,500 of...
GreenSource Company began the period with $330 in supplies. During the month, an additional $1,500 of supplies were purchased. A physical inventory at the end of the period revealed that there were $585 of supplies on hand. The adjusting entry should include a O credit to Supplies for $1.245.
General Journal instruction The supplies account had a beginning balance of $1,500. Supplies purchased during the...
General Journal instruction The supplies account had a beginning balance of $1,500. Supplies purchased during the period toiled $4,000. At the end of the period before adjustment 5500 of supplies were on hand Required Prepare the aquating entry for supplies Refer to the Chart of Accounts for exact wording of account is.
adjustments made at the end of the accounting period songs by See What's Hot Requirement PTM cleats BMX Videos -...
adjustments made at the end of the accounting period
songs by See What's Hot Requirement PTM cleats BMX Videos - Vital. Bike list 527.87 XBL Free Action games on St Saved Help Sa Read the description of the following adjustments that are required at the end of the accounting period for Riley Furniture Restoration Determine the account and amount to be debited and the account and amount to be credited. A. Purchased supplies for $1,000 on June 1, 2019. Inventory...
1. A prior period adjustment should be reported as an adjustment to the retained earnings balance...
1. A prior period adjustment should be reported as an adjustment to the retained earnings balance at the beginning of the period in which the adjustment was made. True or False 2. A clean audit opinion is not the same as an unmodified opinion. True or False 3. Analyzing a company's performance should take into account conditions peculiar to the industry and the general economic conditions. True or False
Which of the following is an adjustment made at the end of an accounting period? O A. Record revenue earned but not yet billed OB. Record depreciation expense for the period O C. Record supplies expense for supplies used during the period D. All of the above are adjustments
If prepaid rent has expired during the current period and no adjustment has been made, net income for the current period will be overstated. O True O False Click to select your answer. MacBook Air 6.50 80 F3 F4
The supplies account had a beginning balance of $1,504. Supplies purchased during the period totaled $3,934. At the end of the period before adjustment, $529 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank.
The supplies account had a beginning balance of $1,948. Supplies purchased during the period totaled $4,593. At the end of the period before adjustment, $255 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Receivable Cash Supplies Supplies Expense
GreenSource Company began the period with $330 in supplies. During the month, an additional $1,500 of supplies were purchased. A physical inventory at the end of the period revealed that there were $585 of supplies on hand. The adjusting entry should include a O credit to Supplies for $1.245.
General Journal instruction The supplies account had a beginning balance of $1,500. Supplies purchased during the period toiled $4,000. At the end of the period before adjustment 5500 of supplies were on hand Required Prepare the aquating entry for supplies Refer to the Chart of Accounts for exact wording of account is.
adjustments made at the end of the accounting period
songs by See What's Hot Requirement PTM cleats BMX Videos - Vital. Bike list 527.87 XBL Free Action games on St Saved Help Sa Read the description of the following adjustments that are required at the end of the accounting period for Riley Furniture Restoration Determine the account and amount to be debited and the account and amount to be credited. A. Purchased supplies for $1,000 on June 1, 2019. Inventory...
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