33 > Financial Accounting-Acctg__- Instructor-Turck (7)SupEx(AJES).docx: use your own paper NAME Part B (continued) 11. Zombie started 2019 with $2,000 worth of supplies in the storeroom; the 1/1/2019 balance in the Supplies account was properly at $2,000. During the year, $6,500 in supplies were purchased and debited to the Supplies account. On 12/31/2019, an inventory counting of the storeroom reveals supplies valued at a cost of $3,250 remain on hand at year end. a. Reconstruct a journal entry that represents the $6,500 worth of supplies purchases. (ignore date) Setting up T-accounts can prove helpful for working out the correct AJE in b. below. Supplies Supplies Expense Beg. Bal. Beg. Bal. I supply invoices lla) Unadj. Bal. Unadj. Bal. AJE AJE Adj.Bal. Adj.Bal. b. Prepare the necessary AJE dated 12/31/2019. c. How much will Zombie report for Supplies on the 12/31/2019 Balance Sheet? d How much will Zombie report for Supplies Expense on the 2019 Income Statement? Suppose instead of (11) above: Zombie started 2019 with $2,000 worth of supplies in the storeroom; the 1/1/2019 balance in the Supplies account was properly at $2,000. During the year, $6,500 in supplies were purchased and debited to Supplies Expense. On 12/31/2019, counting supplies in the storeroom reveals that $3,250 at cost value remain on hand at year end. (read this carefully) a. Reconstruct a joumal entry that represents the $6,500 worth of supplies purchases. (ignore date) Setting up T-accounts can prove helpful for working out the correct AJE in b. below. Supplies Supplies Expense Beg. Bal. supply invoices 12a) Unadj. Bal. Unadj. Bal. Adj Bal. Adj.Bal. b. Prepare the necessary AJE dated 12/31/2019. c. After posting the AJE, what will be the reported balance in the Supplies account on the B/S? d. After posting the AJE, what will be the reported balance in Supplies Expense account on IS? 8 AMA SIONID | FIMAMIAISIIN