On January 1, 2014, the balance in office supplies was a debit balance of $2798. During...
On January 1, 2014, the balance in office supplies was a debit balance of $2798. During the year, you purchase $30, 156 of additional office supplies. On December 31, 2014, you take a physical inventory of office supplies and count $3492 in office supplies. How much would need to be credited to office supplies?
Homework Answers
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Amount to be credited to office supplies = Beginning balance + Purchases - Ending inventory = 2798+30156-3492 = 29,462 Comment if you face any issues |
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On January 1, 2014, the balance in office supplies was a debit
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Journal entry worksheet < 3 4 5 6 The Office Supplies account had a $290 debit...
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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.)
1 Record the supplies used during the year. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31
On January 1, 20x7 you had $ 12330 in your office supplies inventory account. During the year you purchased an additional $ 44826 of office supplies. A physical count of the supplies on December 31, 20x7 reveals that you have $ 18896 of supplies on hand. What is supplies expense for the year ended December 31, 20x7? Select one: a. $ 51392 b. $ 12330 Cc. $ 76052 d. $ 38260 Check
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14) Prior to recording adjusting entries, the Office Supplies account had a $500 debit balance. A physical count of the supplies showed $285 of unused supplies available. The required adjusting entry is: 15) On July 1, a company paid the $7,800 premium on a one-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the first year ended December 31?
b. The Supplies account has an $1,600 debit balance to start the year. Supplies of $3,700 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $1,050 of supplies remaining. DR or CR? 16,000 Debit Supplies 16,000 Step 1: Determine what the current account balance equals. ſ $ Step 2: Determine what the current account balance should equal. Step 3: Record the December 31, adjusting entry to get from step 1 to...
A company had no office supplies at the beginning of the year. During the year, the company purchased $400 worth of office supplies. On December 31, $150 worth of office supplies remained. How much should the company report as office supplies expense for the year? Multiple Choice O $150 о O $250 o $200 O $550 O $400 On April 30, 2014, a three-year insurance policy was purchased for $19,260 with coverage to begin immediately. What is the amount of...
Journal entry worksheet < 3 4 5 6 The Office Supplies account had a $290 debit balance at the beginning of the year; and $2,680 of office supplies were purchased during the year. The December 31 physical count showed $342 of supplies available. Note: Enter debits before credits. Transaction General Journal Debit Credit c. Supplies expense Record entry Clear entry View general journal
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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