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HOMEWORK: CHAPTER 3 PART 2

Question 2

Schramel Advertising Companys trial balance at December 31 shows Supplies $6,700 and Supplies Expense $0. On December 31, there are $2,100 of supplies on hand. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31	enter an account title for the adjusting entry on December 31	enter a debit amount	enter a credit amount
	enter an account title for the adjusting entry on December 31	enter a debit amount	enter a credit amount

Supplies
choose a transaction date 12/3112/31 Bal.	enter a debit amount	choose a transaction date 12/3112/31 Bal.	enter a credit amount
choose the end date of the accounting period 12/3112/31 Bal.	enter a debit balance	choose the end date of the accounting period 12/3112/31 Bal.	enter a credit balance
Supplies Expense
choose a transaction date 12/3112/31 Bal.	enter a debit amount	choose a transaction date 12/3112/31 Bal.	enter a credit amount