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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.
Some people describe a cover as being the exact same thing as an elevator conversation. Explain what is meant by an elevator conversation and how it is the same as a cover letter. Do you agree or disagree with this comparison? Please explain your answer.
I am having troubke understanding how to find the ending inventory. Would you mind helping me with that?
Good afternoon, I emailed you yesterday inquiring about missing solution on problem 14-1A in Financial and Managerial accounting book. I purchased the solution version and while working on my homework I realized that the second part on the problem I am working on is missing the solution. I am attaching complete instructions and the part where I am stuck. Would you, please, help me figure it out? Thank you
Hello tutor. I hope you doung fine. Can you please include a step by step process with formula. Thank you
Further info is in the attached images For the Excel part of the question give the solutions in the form of the Excel equations. Please and thank you! :) Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B34 enter the formula "= B9". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the example in the text. Check your worksheet by changing the beginning work in process inventory to 100 units, the units started into production during the period to 2,500 units, and the units in ending work in process inventory to 200 units, keeping all of the other data the same as in the original example. If your worksheet is operating properly, the cost per equivalent unit for materials should now be $152.50 and the cost per equivalent unit for conversion should be $145.50. Thank you!
Kk.252.
(E7) Hello! Please help me answer this one. Please refer to the given picture/s below for the questions. Please read the instructions and directions very carefully. Double and triple check your answers, previous tutors got it wrong. NOTE: Type only your answers. Please do not handwritten your answers. Make sure your formulas, solutions and answers' format are all correct. Answer no 2 only!
In SAP Business ByDesign Built-In Analytics, which of the following tasks can business users perform using interactive analysis options in charts? Show/hide key figure values using the interactive legend. Change the color of chart values (bars, pie pieces, . ..) Zoom into values. Modify key figures please choose 2 correct answers abo
The first part of the assignment is to open Excel and in column A starting in row 1 and down to row 40 generate random values using the RAND() function. Copy and special paste those values onto sheet2. You will turn in the Excel file, but you will use the information below when directed. Say an individual is faced with the decision of whether to buy auto insurance or not (like before laws in many states changed). The states of nature are that no accident occurs (with probability .992) or an accident occurs (with probability .008). Here is the payoff table for the decision maker (where -500 is read minus 500, for example) State of Nature Decision No Accident Accident Purchase insurance -500 -500 Do not purchase Ins. 0 -10000 1. Say the individual is a RISK LOVER. Create a table with plausible values of utility for the risk lover where you pick as the indifference probability for the value -500 the first value that is appropriate from your simulation in Excel (starting in cell A1 on…
* no trial balance was given along with case study just tables typed out below or featured in the images* Trying this again... We were asked to calculate the missing values (which I have written down on my copy of the table in the image attached). After attending the lecture with hopes to get a better understanding of how the numbers we obtained, I ended up coming home and copying the answers down as my professor did not review as to how he calculated them. I copied all the numbers down onto excel with hopes to see if I can understand where the numbers came from but to no avail. There are no requirements asked for other than to simply calculate and input the missing values which I have noted down from the answer sheet. I am hoping to get an understanding as to how the numbers were computed for the income statement for now. Table 1: given values 1997 1998 1999 net sales 26820 28966 30703 cogs 21216 23550 26140 gross profit 5604 5416 4563 admin and selling expenses…