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The first top two fill in the blank answers are either:supplies adjustment supplies expense supplies on hand Unadjusted Supplies Consider the following unadjusted trial balance
The first top two fill in the blank answers are either:"supplies adjustment" "supplies expense" "supplies on hand" "Unadjusted Supplies"
Consider the following unadjusted trial balance for Sheffield Computer Center at July 31, 201X: (Click the icon to view the unadjusted trial balance.) At the end of July, Thad, the owner, took a complete inventory of his supplies and found the following: (Click the icon to view the supplies data.) Start by determining the adjustment amounts needed, beginning with the Supplies account adjustment. Determine the amount by completing the table below Supplies Expense More info 3 dozen 1/4-inch screws at a cost of $9.00 a dozen 7 dozen 1/2-inch screws at a cost of $5.00 a dozen 3 cartons of computer inventory paper at a cost of $7 a carton 3 feet of coaxial cable at a cost of $11.00 per foot Print Done More info Computer purchased May 5, 201X Office equipment purchased May 17, 201X Computer workstations purchased Jul. 17, 201X Depreciation $33 a month Depreciation $58 a month Depreciation $18 a month Thad uses the straight-line method of depreciation and declares no salvage value for any of the assets. If any long-term asset is purchased in the first 15 days of the month, he will charge depreciation for the full month. If an asset is purchased on the 16th of the month, or later, he will not charge depreciation in the month it was purchased. Print Done X X After speaking to his accountant, Thad found that a reasonable depreciation amount for each of his long-term assets is as follows: i (Click the icon to view the depreciation data.) June and July's rent (of the three months included in the Prepaid Rent balance) has now expired. Assignment X Com Reference Sheffield Computer Center Trial Balance July 31, 201X Account Cash Accounts Receivable Prepaid Rent Supplies Computer Shop Equipment Office Equipment Accounts Payable Felicity, Capital Felicity, Withdrawals Service Revenue Advertising Expense Rent Expense Utilities Expense Phone Expense Insurance Expense Postage Expense Totals Print Dr. Cr. 11,380 2,500 600 500 2,300 3,500 1,100 1,200 450 215 205 400 130 24,460 Done 390 15,000 9,070 24,480Step by Step Solution
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