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a. During the month, Supplies Expense was debited $2,900 for supplies purchased. The cost of supplies used during the month was $1,400. Record the
a. During the month, Supplies Expense was debited $2,900 for supplies purchased. The cost of supplies used during the month was $1,400. Record the adjustment to properly reflect the amount of supplies used and supplies still on hand at the end of the month. b. During the month, the board of directors declared a cash dividend of $1,750, payable next month. c. Employees were paid $1,470 in wages for their work during the first three weeks of the month. d. Employee wages of $385 for the last week of the month have not been recorded. e. Revenues from services performed during the month totaled $3,570. Of this amount. $1,820 was received in cash and the balance is expected to be received within 30 days. f. A contract was signed with a newspaper for a $140 advertisement; the ad ran during this month but will not be paid for until next month. 9. Merchandise that cost $476 was sold for $994. Of this amount, $770 was received in cash and the balance is expected to be received within 30 days. h. Independent of transaction a, assume that during the month, supplies were purchased at a cost of $154 and debited to the Supplies (asset) account. A total of $91 of supplies were used during the month. Record the adjustment to properly reflect the amount of supplies used and supplies still on hand at the end of the month. 1. Interest of $189 has been earned on a note receivable but has not yet been received. j. Issued 400 shares of $15 par value common stock for $6,000 in cash. Required A Required B Indicate the financial statement effect. Transaction or Adjustment Assets a Supplies +1500 b. C. d. e. e f g g ho L Balance Sheet Category: Liabilities Stockholders' Equity Required A Required B > Journal entry worksheet 1 2 3 4 5 6 7 8 11 Record the $1,400 supplies used during the month whereas supplies Expense was debited $2,900 for supplies purchased. Note: Enter debits before credits. Event a. General Journal Debit Credit Record entry Clear entry View general journal
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