1. Answer each of the following independent questions concerning supplies and the adjustment for supplies.

a. The balance in the supplies account, before adjustment at the end of the year, is $3,500. What is the amount of the adjustment if the amount of supplies on hand at the end of the year is $1,100? $=?

b. The supplies account has a balance of $650, and the supplies expense account has a balance of $1,950 at the end of the first year of operations. What was the number of supplies purchased during the year? $=?

2. Answer each of the following independent questions concerning supplies and the adjustment for supplies.

a. The balance in the supplies account, before adjustment at the end of the year, is $3,900. What is the amount of the adjustment if the amount of supplies on hand at the end of the year is $1,830? $=? b. The supplies account has a balance of $2,200, and the supplies expense account has a balance of $6,160 at the end of the first year of operations. What was the amount of supplies purchased during the year?

$=?

3. La-Z-Boy Inc. (LZB) is one of the world's largest manufacturer of furniture and is best known for its reclining chairs. The following data (in thousands) were adapted from recent financial statements:

Accounts Payable		$ 46,168
Accounts Receivable		158,548
Accrued expenses		108,326
Accumulated depreciation		325,993
Common stock		50,747
Cash		107,938
Intangible assets		20,622
Inventories		156,789
Debt due within one year		397
Long-term debt		433
Other current assets		53,176
Other long-term assets		103,495
Other long-term liabilities		86,180
Other stockholders' equity items		246,847
Property, plant, and equipment		500,029
Retained earnings		235,506

Prepare a classified balance sheet as of April 25.

Assets
Current assets:
Choose One: Accounts payable Accrued expenses Cash Common stock Intangible assets (trade names) Other long-term assets	$-
Accounts payable Accounts receivable Debt due within one year Long-term debt Other long-term liabilities Retained earnings	-
Accrued expenses Common stock Intangible assets (trade names) Inventories Other long-term liabilities Retained earnings	-
Accounts payable Accrued expenses Debt due within one year Other current assets Other long-term assets Other long-term liabilities	-
Total current assets		$
Accounts receivable Common stock Intangible assets (trade names) Inventories Other long-term liabilities Property, plant, and equipment	$
Debt due within one year Intangible assets (trade names) Less accumulated depreciation Long-term debt Other current assets Property, plant, and equipment	-
Total property, plant, and equipment		-
Accounts payable Accounts receivable Intangible assets (trade names) Cash Common stockInventories		-
Accounts payable Cash Common stock Inventories Other long-term assets Other long-term liabilities		-
Total assets		$
Liabilities
Current liabilities:
Accounts payable Accounts receivable CashCommon stock Property, plant, and equipment Intangible assets	$
Accounts receivable Accrued expenses Cash Common stock Intangible assets (trade names) Less accumulated depreciation	-
Accounts receivable Common stock Debt due within one year Intangible assets (trade names) Property, plant, and equipment Retained earnings	-
Total current liabilities		$
Long-term liabilities:
Less accumulated depreciation Long-term debt Other current assets Other long-term assets Property, plant, and equipment Retained earnings	$-
Cash Inventories Other current assets Other long-term assets Other long-term liabilities Property, plant, and equipment	-
Total long-term liabilities		-
Total liabilities		$
Stockholders' Equity
Accounts payable Accounts receivable Accrued expenses Common stock Property, plant, and equipment Intangible assets (trade names)	$-
Inventories Other current assets Other long-term assets Other long-term liabilities Property, plant, and equipment Retained earnings	-
Inventories Other current assets Other long-term assets Other long-term liabilities Other stockholders' equity items Property, plant, and equipment	-
Total stockholders' equity		-
Total liabilities and stockholders' equity		$