Supplies expense = Beginning supplies+Supplies purchase-ending supplies0
= 5270+3630-3120
Supplies expense = 5780
So answer is b) $5780
The balance in the supplies account on June 1 was $5270, supplies purchased during June were...
Question 6 (1 point) ✓ Saved The balance in the supplies account on June 1 was $5,200, supplies purchased during June were $2,500, and the supplies on hand at June 30 were $3,000. The amount to be used for the appropriate adjusting entry is O $2,500 $4,700. $5,500 $10,700.
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 office supplies account on January 1 was $6,671, the supplies purchased during January were $3,811, and the supplies on hand on January 31 were $2,401. The amount to be used for the appropriate adjusting entry is a.$3,811 b.$8,081 c.$2,401 d.$12,883
The balance in the supplies account on June 1 was $5. 00 sulis purchased during June were $3,000, and the supplies on hand at June 30 were $3.500. The amount to be used for the appropriate adjusting entry a $4.000 b $4.500 c 58.500 d. $11,500. 10. 96 Depreciation expense for a period is the a original cost of an asset accumulated depreciation b. book value of the asset useful life. c. portion of an asser's cost that expired during...
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.
2. On June 1, during its first month of operations, Crooked Rain purchased supplies for $4,500 and debited the supplies account for that amount. At June 30, an inventory of supplies showed $1,000 of supplies on hand. What adjusting journal entry should be made for June?
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
If Bojana Tax Services' office supplies account balance on March 1 was $1,550, the company purchased $700 of supplies during the month, and a physical count of supplies on hand at the end of March indicated $1,650 unused, what is the amount of the adjusting entry for office supplies on March 31? Multiple Choice $2,500 $2,250 O O $700 $600 O $1,550 O
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....
At the beginning of the month, supplies were $ 2,500. During the month, $3,500 of supplies were purchased. At month's end, 500 of supplies are still on hand. What is the • adjusting entry? •ending balance in the Supplies account? First, prepare the adjusting journal entry for Supplies. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts and Explanations Debit Credit The ending balance in the Supplies account was $ .