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

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