Homework Answers
answer: supplies expense for august is $3023
supplies expense=begining balance + purchase - ending balance
begining balance=$1195
purchase=$3340
ending balance=$1512
supplies expense=$1195+$3340-$1512=$3023
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Missing Amount from an Account On August 1, the supplies account balance was $1,195. During August,...
Please answer the following three questions PE 2-5A Missing amount from an account On June 1,...
Please answer the following three questions
PE 2-5A Missing amount from an account On June 1, the cash account balance was $17.200. During June, cash payments totaled $178,300, and the June 30 balance was $23,900. Determine the cash receipts during June. PE 2-5B Missing amount from an account On October 1, the supplies account balance was $900. During October, supplies of $2,750 were purchased, and $1,025 of supplies were on hand as of October 31. Determine sup- plies expense for...
The balance in the office supplies account on January 1 was $6,671, the supplies purchased during...
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Question 18 The balance in the supplies account on June 1 was $5370, supplies purchased during...
Question 18 The balance in the supplies account on June 1 was $5370, supplies purchased during June were $3540, and the supplies on hand at June 30 were $3090. The amount to be used for the appropriate adjusting entry is O $6630. O $3540. $5820. O $12000. Question 26 The following items are taken from the financial statements of the Novak Service for the year ending December 31, 2018: Accounts payable $ 17800 Accounts receivable 11000 Accumulated depreciation - equipment...
The balance in the supplies account on June 1 was $5270, supplies purchased during June were...
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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
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....
mJy1,2019, the balance in the Supplies account was $400. During the year, $11,500 of supplies was...
mJy1,2019, the balance in the Supplies account was $400. During the year, $11,500 of supplies was purchased on account. 0n December 31, 2019 the company revealed that there were supplies of $1,100 remaining in the closet Required: a) What amount of Supplies Expense will be reported on the 2019 income statement? b) What account and amount, if any, will be reported on the 2019 Balance Sheet? Account Name 47. (Pains) This company paid $24.000 for sis months'reat Angust 1. 2019....
The balance in the supplies inventory account was $24019 at the beginning of the year. During...
The balance in the supplies inventory account was $24019 at the beginning of the year. During the year, a total of $92290 of supplies were purchased. These were debited to the supplies expense account. At year end, a count of office supplies revealed that there was $10204 of office supplies on hand. What is the office supplies expense for the year? Select one: O a. $106105 O b. $78475 O c. $92290 O d. $10204
The company has a Supplies account balance of $200 on January 1. During the year, the...
The company has a Supplies account balance of $200 on January 1.
During the year, the company purchased $1,500 of supplies. As of
December 31, a count revealed that there were $500 of supplies on
hand. Complete the necessary journal entry. (If no entry is
required for a transaction/event, select "No journal entry
required" in the first account field.)
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Please answer the following three questions
PE 2-5A Missing amount from an account On June 1, the cash account balance was $17.200. During June, cash payments totaled $178,300, and the June 30 balance was $23,900. Determine the cash receipts during June. PE 2-5B Missing amount from an account On October 1, the supplies account balance was $900. During October, supplies of $2,750 were purchased, and $1,025 of supplies were on hand as of October 31. Determine sup- plies expense for...
Question 18 The balance in the supplies account on June 1 was $5370, supplies purchased during June were $3540, and the supplies on hand at June 30 were $3090. The amount to be used for the appropriate adjusting entry is O $6630. O $3540. $5820. O $12000. Question 26 The following items are taken from the financial statements of the Novak Service for the year ending December 31, 2018: Accounts payable $ 17800 Accounts receivable 11000 Accumulated depreciation - equipment...
The balance in the supplies account on June 1 was $5270, supplies purchased during June were $3630, and the supplies on hand at June 30 were $3120. The amount to be used for the appropriate adjusting entry is O $6750. O $5780. O $12020 O $3630.
Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $9,000. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $1,575. If an amount box does not require an entry, leave it blank. Determining Supplies Purchased The supplies and supplies expense accounts at December 31, after adjusting entries have been posted at the end of the first year of operations, are...
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
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....
mJy1,2019, the balance in the Supplies account was $400. During the year, $11,500 of supplies was purchased on account. 0n December 31, 2019 the company revealed that there were supplies of $1,100 remaining in the closet Required: a) What amount of Supplies Expense will be reported on the 2019 income statement? b) What account and amount, if any, will be reported on the 2019 Balance Sheet? Account Name 47. (Pains) This company paid $24.000 for sis months'reat Angust 1. 2019....
The balance in the supplies inventory account was $24019 at the beginning of the year. During the year, a total of $92290 of supplies were purchased. These were debited to the supplies expense account. At year end, a count of office supplies revealed that there was $10204 of office supplies on hand. What is the office supplies expense for the year? Select one: O a. $106105 O b. $78475 O c. $92290 O d. $10204
The company has a Supplies account balance of $200 on January 1.
During the year, the company purchased $1,500 of supplies. As of
December 31, a count revealed that there were $500 of supplies on
hand. Complete the necessary journal entry. (If no entry is
required for a transaction/event, select "No journal entry
required" in the first account field.)
1 Record the supplies used during the year. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31
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