The balance in the supplies account, before adjustment at the end of the year, is $5,175. Journalize
Question:
The balance in the supplies account, before adjustment at the end of the year, is $5,175. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $615.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Supplies Ex...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Financial And Managerial Accounting
ISBN: 9780357714041
16th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
Question Posted:
Students also viewed these Business questions
-
The balance in the supplies account, before adjustment at the end of the year, is $2,975. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $614.
-
The balance in the supplies account, before adjustment at the end of the year, is $5,175. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $615.
-
The balance in the supplies account, before adjustment at the end of the year, is $1,736. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $813.
-
Depreciation policy is an important decision made by a company's Finance Director. A company has purchased some equipment for 85,000, with an estimated scrap value of 9,000 at the end of its useful...
-
How does depletion affect the balance sheet and income statement? Why is depletion accounted for in a manner that differs from depreciation and amortization?
-
Saputo Inc., which is headquartered in Montreal, produces, markets, and distributes dairy products in markets around the world. Exhibit 3.28 contains an excerpt from the companys consolidated...
-
FRAUD PREVENTION AND DETERRENCE IN ACTION Assume the following facts: thirty-day collection period. The invoice is used to post-sales to the accounting system. Checks are received in the mailroom and...
-
Linden Company manufactures and sells a single product. Cost data for the product follow: Variable costs per unit: Direct materials. . . . . . . . . . . . . . . . . . . . . . . . . $ 6 Direct labor ....
-
2. What is the computational complexity of the following function Mystery1? int Mystery1(int n) { int sum = 0; for (int i=0; i
-
Omar Marquez is the audio engineer for Summer Musical Enterprises. The group is considering the purchase of a new sound system consisting of five separate components. The components are arranged in...
-
The balance in the prepaid insurance account, before adjustment at the end of the year, is $22,500. Journalize the adjusting entry required under each of the following alternatives for determining...
-
The estimated amount of depreciation on equipment for the current year is $33,200. Journalize the adjusting entry to record the depreciation.
-
What is the distinction between a qualitative and a quantitative measure?
-
Describe how World War I affected two of the four cities. Describe how World War II affected the other two of the four cities The cities are New Orleans, Paris, Soweto, Shanghai
-
In general terms, describe the Market for EV Battery- This is the General Market in which the product would be sold and existing products, and sales trend in the past five years.
-
A. Explain how height-by-age can be used to assess quality of life. (10 marks) B. What difficulties result from using height-by-age as an indicator of quality of life? (20 marks) This question is...
-
What has happened to the unemployment rate in the u.s 2008 through 2002? To what would you attribute?how would this information be reflected on our production possibilities curve?
-
Citizens United v. Federal Election Commission (2010) -What are your general reactions to and critique of the Court's opinion? .Are there any aspects of the ruling that you especially agree or...
-
Shows the different forms of employee teams. Provide an example of where each type of team can be used. How do teams create synergy?
-
If the annual fixed costs are 54,000 dinars, the occupation expense represents 20%, the contribution margin is 25%, and the unit selling price is 40 dinars. Required: Calculate the closing point of...
-
The following expenses were incurred by a merchandising business during the year. In which expense section of the income statement should each be reported: (a) Selling, (b) Administrative, or (c)...
-
What is the normal balance of the following accounts? (a) Cost of Merchandise Sold, (b) Delivery Expense, (c) Merchandise Inventory, (d) Sales, (e) Sales Discounts, (f) Sales Returns and Allowances,...
-
Selected transactions for Sandusky Company during December of the current year are listed in Problem 6-5A. Instructions Journalize the entries to record the transactions of Sandusky Company for...
-
What is meant by business sustainability? Why is it good for business?
-
This week, we are discussing job search and networking correspondence. What are some of the things you find helpful in your job search; (as a paralegal or working in a law office) and what type of...
-
Products Liability has become a big issue in the news and courts. Is it fair to hold companies responsible when it is a small fraction of the products produced that cause consumers harm? Is there an...
Study smarter with the SolutionInn App