Using Excel to Record Adijusting Entries Student Work Area Required: Provide input into cells shaded in yellow in this template. Use PROBLEM Lahey Advertising Company's maintains a general ledger account for Supplies. A count on December 31 determined the company has supplies on hand. The following information is from the company's trial balance. mathematical formulas with cell references to the Problem and work areas as indicated. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted January 1, Supplies on hand Supplies expense December 31, Supplies on hand 24 8,800 balance in each account. 1 12 1,100 13 Adjusting entry Date 14 Debit Credit 15 12/31 Supplies Expense Supplies 7,700 16 7,700 17 18 19 T-accounts Supplies 8,800 12/31 20 1/1 7,700 21 22 12/31 1,100 23
Using Excel to Record Adijusting Entries Student Work Area Required: Provide input into cells shaded in yellow in this template. Use PROBLEM Lahey Advertising Company's maintains a general ledger account for Supplies. A count on December 31 determined the company has supplies on hand. The following information is from the company's trial balance. mathematical formulas with cell references to the Problem and work areas as indicated. Prepare the adjusting entry at December 31, and using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted January 1, Supplies on hand Supplies expense December 31, Supplies on hand 24 8,800 balance in each account. 1 12 1,100 13 Adjusting entry Date 14 Debit Credit 15 12/31 Supplies Expense Supplies 7,700 16 7,700 17 18 19 T-accounts Supplies 8,800 12/31 20 1/1 7,700 21 22 12/31 1,100 23
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please see the picture below. I need help with the items that are shown in the red boxes. The other items came back as being the correct answers.

Transcribed Image Text:Formula: Subtract; Cell Referencing
Using Excel to Record Adjusting Entries
Student Work Area
PROBLEM
Required: Provide input into cells shaded in yellow in this template. Use
mathematical formulas with cell references to the Problem and work areas as
Lahey Advertising Company's maintains a general ledger
account for Supplies. A count on December 31 determined the
company has supplies on hand. The following information is
B from the company's trial balance.
indicated.
Prepare the adjusting entry at December 31, and using T-accounts, enter the
balances in the accounts, post the adjusting entry, and indicate the adjusted
10
January 1, Supplies on hand
Supplies expense
December 31, Supplies on hand
2$
8,800
balance in each account.
11
12
1,100
13
Adjusting entry
14
Date
Debit
Credit
15
|12/31
Supplies Expense
Supplies
7,700
16
7,700
17
18
19
T-accounts
Supplies
8,800 12/31
20
1/1
7,700
21
22
12/31
1,100
23
24
25
Supplies Expense
26
12/31
7,700
27
28
12/31
7,700
29
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