Pharoah Company's trial balance at December 31 shows Supplies $8,760 and Supplies Expense $0. On December 31, there are $2,140 of supplies on hand. Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Post entries in the order of journal entries presented in the previous part.) Supplies Supplies Expense
Pharoah Company's trial balance at December 31 shows Supplies $8,760 and Supplies Expense $0. On December 31, there are $2,140 of supplies on hand. Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Post entries in the order of journal entries presented in the previous part.) Supplies Supplies Expense
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Pharoah Company's trial balance at December 31 shows Supplies $8,760 and Supplies Expense $0. On December 31, there are $2,140 of supplies on hand.
Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts.)
Date Account Titles and Explanation
Debit
Credit
Dec. 31
SHOW LIST OF ACCOUNTS
LINK TO TEXT
INTERACTIVE TUTORIAL
Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Post entries in the order of journal entries presented in the
previous part.)
Supplies
Supplies Expense
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