Adjusting Entries

You are presented with the following information for Little Co. Consider all situations independently. The company has a 12/31 year end and each item should be considered as a possible adjusting entry. Please present each adjusting entry as you deem necessary in good form followed by a brief explanation.

The inventory analysis of supplies at year end indicates that the company had $12,200 of supplies on hand. The unadjusted trial balance shows a Supplies Inventory of $14,000 and a Supplies Expense balance of $22,000.