Ren by Students (Chapters 01 thru 06) don.com%2527 Saved For each separate case below, follow the three-step process for adjusting the supplies asset account at December 31 Step 1: Determine what the current account balance equals Step 2: Determine what the current account balance should equal Step 3. Record the December 31 adjusting entry to get from step 1 to step 2 Assume no other adjusting entries are made during the year The Supplies account has a 5450 debit balance to start the year. No sopplies were putchased during the current year. A December 31 physical count shows $200 of supplies remaining Step 1 Determine what the current account balance equals Supplies Step 2. Determine what the current account balance should equal Step 3. Record the December 31. adjusting entry to get from step 1 to step 2 b. the supplies accumsan 51.250 debit balance to start the year. Suppliers of 1.000 were purchased durtop the count year and debted to the Supplies acco, A December 31 physical conet shows 5575 of supplies remaining Step 1 Determine what the current account balance Supplies Step 2 Demine what the current account balance should Step 3 Record the December 31, dating you to step 1 to step 2 The Supplies account has a 14.500 de balance to start the year. During the supplies 511.200 were purchased andebted to the Supos account. The styles are a December i oled 3.200 Ren by Students (Chapters 01 thru 06) don.com%2527 Saved For each separate case below, follow the three-step process for adjusting the supplies asset account at December 31 Step 1: Determine what the current account balance equals Step 2: Determine what the current account balance should equal Step 3. Record the December 31 adjusting entry to get from step 1 to step 2 Assume no other adjusting entries are made during the year The Supplies account has a 5450 debit balance to start the year. No sopplies were putchased during the current year. A December 31 physical count shows $200 of supplies remaining Step 1 Determine what the current account balance equals Supplies Step 2. Determine what the current account balance should equal Step 3. Record the December 31. adjusting entry to get from step 1 to step 2 b. the supplies accumsan 51.250 debit balance to start the year. Suppliers of 1.000 were purchased durtop the count year and debted to the Supplies acco, A December 31 physical conet shows 5575 of supplies remaining Step 1 Determine what the current account balance Supplies Step 2 Demine what the current account balance should Step 3 Record the December 31, dating you to step 1 to step 2 The Supplies account has a 14.500 de balance to start the year. During the supplies 511.200 were purchased andebted to the Supos account. The styles are a December i oled 3.200
