Question

says incomplete

3. At December 31, the unadjusted trial balance of H&R Tacks reports Supplies of $10,000 and Supplies Expense of $0. On December 31, supplies costing $8,200 are on hand. Required: 1. Prepare the adjusting journal entry on December 31. 2. Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted 10 points eBook Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance Supplies 10,000 Supplies Expense 1.800 Beg Bal Beg Bal 10.000 11 800 End. Bal 10.000 End Bal < Required 1

Answer 1

1.

Unadjusted supplies = $10,000

Ending supplies = $8,200

Supplies expense = Unadjusted supplies - Ending supplies

= 10,000 - 8,200

= $1,800

Journal

Date	Account title	Debit	Credit
Dec. 31	Supplies expense	1,800
	Supplies		1,800

2.

Supplies

Beg. bal	10,000	Dec. 31	1,800
End. Bal.	8,200

Supplies expense

Beg. bal.	0
Dec. 31	1,800
End. bal.	1,800

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