The balance in the supplies account, before adjustment at the end of the year, is $2,389. Journalize
Question:
The balance in the supplies account, before adjustment at the end of the year, is $2,389. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $830.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
Supplies Ex...View the full answer
Answered By
Elias Gichuru
am devoted to my work and dedicated in helping my clients accomplish their goals and objectives,providing the best for all tasks assigned to me as a freelancer,providing high quality work that yields high scores.promise to serve them earnestly and help them achieve their goals.i have the needed expertise,knowledge and experience to handle their tasks.
4.80+
325+ Reviews
859+ Question Solved
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Question Posted:
Students also viewed these Accounting questions
-
The inventory at the end of the year was understated by $23,950. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet...
-
The inventory at the end of the year was understated by $8,750. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the balance sheet at...
-
The inventory shrinkage at the end of the year was understated by $18,500. (a) Did the error cause an overstatement or an understatement of the gross profit for the year? (b) Which items on the...
-
The General Auditors Office (GAO) of ABC jurisdiction issued a report on the XYZ Electric Cooperative, a large member-owned utility. This report reviewed the work of MNO Consulting. MNO found...
-
(a) A sample of hydrogen gas is generated in a closed container by reacting 2.050 g of zinc metal with 15.0 mL of 1.00 M sulfuric acid. Write the balanced equation for the reaction, and calculate the...
-
Let U = {0, 1, 2, 3, 4, 5, . . . } A = {1, 2, 3, 4, . . . .} B = {4, 8, 12, 16, . . .} C = {2, 4, 6, 8, . . . } Determine the following. B C
-
What are the inputs to a shareholder level discounted cash flow analysis?
-
Longworth Manufacturing has two producing departments, machining and assembly, and two service departments, personnel and custodial. The companys budget for April 20X1 is as follows: Longworth...
-
During the standard-setting process, an ________ is issued by the FASB to solicit input from financial statement preparers, auditors, and other users of financial statements. Select one: a. Exposure...
-
According to the nonprofit group Zero Population Growth, 78% of the U.S. population now lives in urban areas. Scientists at Princeton University and the University of Wisconsin report that about 15%...
-
Two income statements for Cornea Company are shown below. a. Prepare a vertical analysis of Cornea Companys income statements. b. Does the vertical analysis indicate a favorable or an...
-
The supplies and supplies expense accounts at December 31, after adjusting entries have been posted at the end of the first year of operations, are shown in the following T accounts: Determine the...
-
Find the producers surplus at a price level of P = $67 for the pricesupply equation p = S(x) = 10 + 0.1x + 0.0003x 2
-
Consider the following account balances (in thousands) for the Shaker Corporation In the Dec 31.2021 Cash $200,000 and Capital $2,000,000 and Retained earnings $1,500,000 The balances of raw...
-
Unless otherwise stated, assume gravitational acceleration g = 9.81 m/s and the density of water to be 1000 kg/m. Unless otherwise stated, give all numerical answers to 3 significant figures, such as...
-
The purpose of this installment is to classify stock, bond, and mutual fund investments, explore tools for their evaluation and select these securities based on your investment philosophy and goals....
-
Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided...
-
Caldwell (2003) explores differences between the roles of leaders and managers. "Leaders...envision, initiate, or sponsor strategic change of a far-reaching or transformational nature. In contrast,...
-
Ecommerce is a word coined to describe business conducted over the Internet. Ecommerce is similar in some ways to traditional retailing, but it presents new challenges. Go to the website of...
-
Identify Thank You mission, strategy and core competencies. Identify strategy changes that have taken place at Thank You since its founding in 2008. Your answer must in text references and must be...
-
For the public capital data, given on the Springer website, perform the tests described in Table 5.4. Table 5.4 Testing for serial correlation and individual effects Null hypothesis Ho Alternative...
-
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: a. Depreciation of robotic...
-
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: a. Depreciation of robotic...
-
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: a. Depreciation of robotic...
-
5. Which of the following is the cheapest for a borrower? a. 6.7% annual money market basis b. 6.7% semi-annual money market basis c. 6.7% annual bond basis d. 6.7% semi-annual bond basis.
-
Waterloo Industries pays 30 percent corporate income taxes, and its after-tax MARR is 24 percent. A project has a before-tax IRR of 26 percent. Should the project be approved? What would your...
-
Imagine you are an Investor in the Stock Market. Identify three companies in the Korean Stock Market (KOSPI) where you would like to invest. Explain your answer
Study smarter with the SolutionInn App