Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi there, so I am doing adjusting entries and one of them is supplies on hand jan 1 2019 6000 supplies on hand dec 31

Hi there, so I am doing adjusting entries and one of them is

supplies on hand jan 1 2019 6000

supplies on hand dec 31 2019 4000

What would be the adjusting entry? And another important information is on April 2019 they purchased supplies for a 1000 plus hst. -This info was apart of the journal entry I had to do for the transactions of 2019.

With these info I also have to a closing entry so I don t know If I should put supplies expense $5000 or $4000. What do u think?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

10th edition

78025621, 978-0078025624

More Books

Students also viewed these Accounting questions

Question

1. Background knowledge of the subject and

Answered: 1 week ago