Question: ---------------------- a) BE3-2 Calculate missing data for supplies. (LO 2) AP Calculate the missing information in each of the following independent situations: Red Co. Blue
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BE3-2 Calculate missing data for supplies. (LO 2) AP Calculate the missing information in each of the following independent situations: Red Co. Blue Co. Green Co. Supplies on hand, May 31, 2016 $ 795 $ 985 $1,325 Supplies purchased during the year 3,830 3,070 2,395 Supplies on hand, May 31, 2017 665 1,700 Supplies used during the year ? 2,750 ?BE3-4 Prepare and post transaction and adjusting entries for supplies. (LO 2) AP Hahn Consulting Company's general ledger showed $785 in the Supplies account on January 1, 2017. On May 31, 2017, the company paid $3,255 for additional supplies. A count on December 31, 2017, showed $1,035 of supplies on hand. (a) Prepare the journal entry to record the purchase of supplies on May 31, 2017. (b) Calculate the amount of supplies used in 2017. (c) Prepare the adjusting entry required at December 31, 2017.BEE-13 Identify effect of adjustment on elements of nancial statements. {L0 2.3} C The bookkeeper for Kwan Enterprises asks you to prepare the adjusting entries for the following items at December 31. 1. Interest on note payable of $4111] is accrued 2. Services performed but not recorded total $2,30. 3. Salaries earned by employees of $9M have not been recorded. Use the following account titles: Service Revenue, Accounts Receivable, Interest Expense, interest Payable, Salaries Expense, and Salaries Payable
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