Question: Need some help wrote random numbers to show format. Thank you For each separate case below, follow the three-step process for adjusting the Supplies asset

Need some help wrote random numbers to show format. Thank you

Need some help wrote random numbers to show format. Thank you For

each separate case below, follow the three-step process for adjusting the Supplies

asset account at December 31. Step 1: Determine what the current account

For each separate case below, follow the three-step process for adjusting the Supplies asset account at December 31. 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. Assume no other adjusting entries are made during the year. a. The Supplies account has a $400 debit balance to start the year. No supplies were purchased during the current year. A December 31 physical count shows $160 of supplies remaining. Supplies DR or CR? 44 Debit Step 1: Determine what the current account balance equals. $ 44 Step 2: Determine what the current account balance should equal. | $ 44 Debit 44 Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Adjusting Entry Debit Prepaid insurance Credit Prepaid rent b. The Supplies account has an $1,050 debit balance to start the year. Supplies of $2,600 were purchased during the current year and debited to the Supplies account. A December 31 physical count shows $775 of supplies remaining. Supplies DR or CR? 6 Debit Step 1: Determine what the current account balance equals. $ Step 2: Determine what the current account balance should equal. $ 9 Credit Credit Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Adjusting Entry Debit Prepaid insurance Rent expense Adjusting Entry Debit Credit Prepaid insurance Rent expense c. The Supplies account has a $4,500 debit balance to start the year. During the current year, supplies of $10,400 were purchased and debited to the Supplies account. The inventory of supplies available at December 31 totaled $2,960. DR or CR? Supplies Step 1: Determine what the current account balance equals. $ 7 Debit Step 2: Determine what the current account balance should equal. $ 6 Debit Credit Step 3: Record the December 31, adjusting entry to get from step 1 to step 2. Adjusting Entry Debit Prepaid insurance Prepaid rent

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