Question
Shandi Company has a Supplies account balance of $5,000 on January 1, 2013. During 2013, it purchased $2,000 of supplies. As of December 31, 2013,
| Shandi Company has a Supplies account balance of $5,000 on January 1, 2013. During 2013, it purchased $2,000 of supplies. As of December 31, 2013, a supplies inventory shows $800 of supplies available. Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2013. |
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Auditors Guide To Information Systems Auditing
Authors: Richard E. Cascarino
1st Edition
0470009896, 978-0470009895
