Analyze each situation and indicate the correct dollar amount for the adjusting entry. 1. Ending inventory of

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Analyze each situation and indicate the correct dollar amount for the adjusting entry.

1. Ending inventory of supplies is $95.

(Balance Sheet) (Income Statement) Supplies Expense Supplies TB 540 Adj. Adj. Bal.

2. Amount of supplies used is $280.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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