Supplies were purchased on January 1, to be used throughout the year, in the amount of $10,400. On December 31, a physical count revealed that the remaining supplies totaled $2,100. There was no beginning of the year balance in the Supplies account. Based on the information provided: A. Create journal entries for the original transaction. If an amount box does not require an entry, leave it blank. Cash Common Stock В. al entries for the December 31 adjustment Notes Payable ne Supplies g the balances to correct. If an amount box do Supplies Expense e an entry, leave it blank. C. Show the activity, with ending balance. If an amount box does not require an entry, leave it blank. Supplies Beginning Balance $ Purchased Subtotal $ Used Remaining 2$
Supplies were purchased on January 1, to be used throughout the year, in the amount of $10,400. On December 31, a physical count revealed that the remaining supplies totaled $2,100. There was no beginning of the year balance in the Supplies account. Based on the information provided: A. Create journal entries for the original transaction. If an amount box does not require an entry, leave it blank. Cash Common Stock В. al entries for the December 31 adjustment Notes Payable ne Supplies g the balances to correct. If an amount box do Supplies Expense e an entry, leave it blank. C. Show the activity, with ending balance. If an amount box does not require an entry, leave it blank. Supplies Beginning Balance $ Purchased Subtotal $ Used Remaining 2$
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter22: End-of-fiscal-period Work For A Corporation
Section: Chapter Questions
Problem 1CP
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Question
![Supplies were purchased on January 1, to be used
throughout the year, in the amount of $10,400. On
December 31, a physical count revealed that the remaining
supplies totaled $2,100. There was no beginning of the
year balance in the Supplies account. Based on the
information provided:
A. Create journal entries for the original transaction. If an
amount box does not require an entry, leave it blank.
Cash
Common Stock
В.
al entries for the December 31 adjustment
Notes Payable
ne
Supplies
g the balances to correct. If an amount box
do Supplies Expense e an entry, leave it blank.
C. Show the activity, with ending balance. If an amount
box does not require an entry, leave it blank.
Supplies
Beginning Balance $
Purchased
Subtotal
Used
Remaining](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11de2924-4cc1-4750-958e-08c098876e74%2F6816c88c-ec23-4a1e-8c3c-6f92d1dd5b93%2Fkeh2g2m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Supplies were purchased on January 1, to be used
throughout the year, in the amount of $10,400. On
December 31, a physical count revealed that the remaining
supplies totaled $2,100. There was no beginning of the
year balance in the Supplies account. Based on the
information provided:
A. Create journal entries for the original transaction. If an
amount box does not require an entry, leave it blank.
Cash
Common Stock
В.
al entries for the December 31 adjustment
Notes Payable
ne
Supplies
g the balances to correct. If an amount box
do Supplies Expense e an entry, leave it blank.
C. Show the activity, with ending balance. If an amount
box does not require an entry, leave it blank.
Supplies
Beginning Balance $
Purchased
Subtotal
Used
Remaining
![Supplies were purchased on January 1, to be used
throughout the year, in the amount of $10,400. On
December 31, a physical count revealed that the remaining
supplies totaled $2,100. There was no beginning of the
year balance in the Supplies account. Based on the
information provided:
A. Create journal entries for the original transaction. If an
amount box does not require an entry, leave it blank.
B. Create journal entries for the December 31 adjustment
needed to bring the balances to correct. If an amount box
does not require an entry, leave it blank.
C. Show the activity, with ending balance. If an amount
box does not require an entry, leave it blank.
Supplies
Beginning Balance $
Purchased
Subtotal
Used
Remaining
$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11de2924-4cc1-4750-958e-08c098876e74%2F6816c88c-ec23-4a1e-8c3c-6f92d1dd5b93%2F2y1xak7h_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Supplies were purchased on January 1, to be used
throughout the year, in the amount of $10,400. On
December 31, a physical count revealed that the remaining
supplies totaled $2,100. There was no beginning of the
year balance in the Supplies account. Based on the
information provided:
A. Create journal entries for the original transaction. If an
amount box does not require an entry, leave it blank.
B. Create journal entries for the December 31 adjustment
needed to bring the balances to correct. If an amount box
does not require an entry, leave it blank.
C. Show the activity, with ending balance. If an amount
box does not require an entry, leave it blank.
Supplies
Beginning Balance $
Purchased
Subtotal
Used
Remaining
$
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