Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated

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Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.)

1. Ending inventory of supplies is $130.

(Income Statement) Supplies Expense (Balance Sheet) Supplles 460 TB Adj. Adj. Bal.

2. Amount of supplies used is$320.

Analyze each situation and indicate the correct

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Dec 20, 2011 09:57 AM

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Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated

Question:

(Income Statement) Supplies Expense (Balance Sheet) Supplles 460 TB Adj. Adj. Bal.

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1 2 TB Bal Balance ...View the full answer

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