Question
At the beginning of theyear, office supplies of $ 1,200 were on hand. During theyear, Amble Air Conditioning Service paid $6,500 for more office supplies.
At the beginning of theyear, office supplies of $ 1,200 were on hand. During theyear, Amble Air Conditioning Service paid $6,500 for more office supplies. At the end of theyear, Amble has $ 500 of office supplies on hand.Record the adjusting entry assuming that Amble records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies ExpenseT-accounts.
Make sure to include the beginning balance and purchase of office supplies in the Office SuppliesT-account.
Requirement 1. Record the adjusting entry assuming that Amble
- Amble records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies ExpenseT-accounts. Make sure to include the beginning balance and purchase of office supplies in the Office SuppliesT-account.
Begin by recording the adjusting entry assuming that Amble records office supplies by initially debiting an asset account. (Record debitsfirst, then credits. Select the explanation on the last line of the journalentry.)
- Now post the adjusting entry to the Office Supplies and Supplies ExpenseT-accounts.
Enter the beginning balances on the first line of each account. Use a "Jan. 1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office SuppliesT-account, then post the adjusting entry. Use a"Bal." reference to show the ending balance of each account. (For accounts with a$0 unadjustedbalance, make sure to enter"0" on the normal side of theaccounts.)
Requirement 2. Record the adjusting entry assuming that Amble
- Amble records the purchase of office supplies by initially debiting an expense account. Post the adjusting entry to the Office Supplies and Supplies ExpenseT-accounts. Make sure to include the beginning balance in the Office SuppliesT-account, and the purchase of office supplies in the Supplies ExpenseT-account.
Begin by recording the adjusting entry assuming that Amble records office supplies by initially debiting an expense account. (Record debitsfirst, then credits. Select the explanation on the last line of the journalentry.)
- Now post the adjusting entry to the Office Supplies and Supplies ExpenseT-accounts. Make sure to include the beginning balance in the Office SuppliesT-account, and the purchase of office supplies in the Supplies ExpenseT-account.
Enter the beginning balances on the first line of each account. Use a "Jan. 1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office SuppliesT-account, then post the adjusting entry. Use a"Bal." reference to show the ending balance of each account. (For accounts with a$0 unadjustedbalance, make sure to enter"0" on the normal side of theaccounts.)
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