Before recording adjusting entries, the Office Supplies account had a $359 debit balance while a physical count of the supplies showed $105 of unused supplies on hand. Thus, the required adjusting entry is Group of answer choices Debit Office Supplies $105 and credit Office Supplies Expense $105 Debit Office Supplies Expense $254 and credit Office Supplies $254 Debit Office Supplies Expense $105 and credit Office Supplies $105 Debit Office Supplies $254 and credit Office Supplies Expense $254 Do not give answer in image

Before recording adjusting entries, the Office Supplies account had a $359 debit balance while a physical count of the supplies showed $105 of unused supplies on hand. Thus, the required adjusting entry is Group of answer choices Debit Office Supplies $105 and credit Office Supplies Expense $105 Debit Office Supplies Expense $254 and credit Office Supplies $254 Debit Office Supplies Expense $105 and credit Office Supplies $105 Debit Office Supplies $254 and credit Office Supplies Expense $254 Do not give answer in image

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter15: Preparing Adjusting Entries And A Trial Balance

Section: Chapter Questions

Problem 1AFE

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Prior to recording adjusting entries, the Office Supplies account had a $392 debit balance. A physical count of the supplies showed $96 of unused supplies available. The required adjusting entry is: Multiple Choice Debit Office Supplies $96 and credit Supplies Expense $296. Debit Office Supplies Expense $296 and credit Office Supplies $296. Debit Office Supplies $296 and credit Office Supplies Expense $296. Debit Office Supplies $96 and credit Office Supplies Expense $96 Debit Office Supplies Expense $96 and credit Office Supplies $96.
Prior to recording adjusting entries, the Office Supplies account had a $390 debit balance. A physical count of the supplies showed $97 of unused supplies available. The required adjusting entry is: Multiple Choice Debit Office Supplies $97 and credit Cash $293. Debit Office Supplies Expense $97 and credit Office Supplies $97. Debit Office Supplies $293 and credit Office Supplies Expense $293. Debit Office Supplies $97 and credit Office Supplies Expense $97 Debit Office Supplies Expense $293 and credit Office Supplies $293.
Prior to recording adjusting entries, the Office Supplies account had a $359 debit balance. A physical count of the supplies showed $105 of unused supplies available. The required adjusting entry is: a. Debit Office Supplies $254 and credit Office Supplies Expense $254. b. Debit Office Supplies $105 and credit Office Supplies Expense $105. c. Debit Office Supplies Expense $254 and credit Office Supplies $254. d. Debit Office Supplies Expense $105 and credit Office Supplies $105.
Prior to recording adjusting entries, the Office Supplies account had a $393 debit balance. A physical count of the supplies showed $95 of unused supplies available. The required adjusting entry is: 14 Multiple Choice Debit Office Supplies $95 and credit Office Supplies Expense $95 Debit Office Supplies Expense $95 and credit Office Supplies $95. 14 of 19 Next > Mc Graw Hill < Prev 457 PM a 9/17/2019 pe here to search
Multiple Choice Quiz: Prior to recording adjusting entries, the Supplies account has a $450 debit balance. A physical count of supplies shows $125 of unused supplies still available. The required adjusting entry is: a. Debit Supplies $125; credit Supplies Expense $125. b. Debit Supplies $325; credit Supplies Expense $325. c. Debit Supplies Expense $325; credit Supplies $325. d. Debit Supplies Expense $325; credit Supplies $125. e. Debit Supplies Expense $125; credit Supplies $125.
CORRECTING ERRORS Assuming that all entries have been posted, prepare correcting entries for each of the following errors. The following entry was made to record the purchase of 400 in equipment on account: The following entry was made to record the payment of 200 for advertising: The following entry was made to record a 600 payment to a supplier on account:
ANALY SIS OF ADJUSTING ENTRY FOR SUPPLIES Analyze each situation and indicate the correct dollar amount for the adjusting entry. 1. Ending inventory of supplies is 95. 2. Amount of supplies used is 280.
On December 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $276. A physical count of the supplies inventory shows that $106 of supplies remain. Question Content Area Analyze this adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.) (Balance Sheet)Supplies fill in the blank fffd0eff0fe6f82_2 fill in the blank fffd0eff0fe6f82_4 Bal. fill in the blank fffd0eff0fe6f82_5 (Income Statement)Supplies Expense Adj. fill in the blank fffd0eff0fe6f82_6 Feedback Area Feedback Question Content Area If an amount box does not require an entry, leave it blank. Page: DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 20-- Dec. 31 Supplies Expense Supplies Expense 1 2 Supplies Supplies 2
Prior to recording adjusting entries, the Supplies account has a $450 debit balance. A physical count of supplies shows $125 of unused supplies still available. The required adjusting entry is a. Debit Supplies $125; credit Supplies Expense $125. b. Debit Supplies $325; credit Supplies Expense $325. c. Debit Supplies Expense $325; credit Supplies $325. d. Debit Supplies Expense $325; credit Supplies $125. e. Debit Supplies Expense $125; credit Supplies $125.
Journalize the entries to correct the following errors: a. A purchase of supplies for $201 on account was recorded and posted as a debit to Supplies for $595 and as a credit to Accounts Receivable for $595. (Record the entry to reverse the error first.) If an amount box does not require an entry, leave it blank. b. A receipt of $5,900 from Fees Earned was recorded and posted as a debit to Fees Earned for $5,900 and a credit to Cash for $5,900. If an amount box does not require an entry, leave it blank.
On January 1, Whispering Corporation issues a $140,000, 10-year non-interest-bearing note to Camden Production for new machinery. The market interest rate is 11% and Camden is to pay $14,000 instalments at the end of each year. Fair value for a purchase of the new machinery in cash is not available from the supplier at this time. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Calculate the purchase price using any of the three methods (tables, financial calculator, or Excel). (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 5,275.) $ Purchase price eTextbook and Media List of Accounts
Adjustment for Supplies On December 31, the trial balance indicates that the supplies account has a balance, prior to the adjusting entry, of $320. A physical count of the supplies inventory shows that $90 of supplies remain. Analyze this adjustment for supplies using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.) (Balance Sheet)Supplies fill in the blank d9cf920a902df9c_2 fill in the blank d9cf920a902df9c_4 Bal. fill in the blank d9cf920a902df9c_5 (Income Statement)Supplies Expense Adj. fill in the blank d9cf920a902df9c_6 Page: DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT 1 20--Dec. 31 fill in the blank 408d0d04ffc0fd3_2 fill in the blank 408d0d04ffc0fd3_3 1 2 fill in the blank 408d0d04ffc0fd3_5 fill in the blank 408d0d04ffc0fd3_6 2