Q3-20. At the beginning of hnuary, the first month of the accounting year, the supplies account hall

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Q3-20. At the beginning of hnuary, the first month of the accounting year, the supplies account hall debi balance of $825. During January, purchases of $36ll worth of supplies were debated to the act Although only $630 of supplies were still available at the end of January, the necessary adjusting entry was omitted. How will the omission affect la the income statement for January, and (h) the bulance sheet prepared January 317

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Financial Accounting

ISBN: 9781618534316

7th Edition

Authors: Michelle Hanlon, Robert Magee, Glenn Pfeiffer

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