Journal entry and report the adjusted balance
Course:- Accounting Basics
Reference No.:- EM13765710

Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Accounting Basics

At december 31, the unadjusted trial balance of H&R Tacks reports Supplies of 9,000 abd supplies expense of 0. On decmber 31, supplies costing 7,000 are on hand. Prepare the adjusting journal entry on decmeber 31. In separate t-accounts for each account, enter the unadjused balances, post the adjusting journal entry and report the adjusted balance.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
An example of an expense in respect of a decedent is the state income taxes attributable to the taxpayer's last paycheck, uncollected at death.
In Saint-Simon, Inc., the Assembly Department started 18,000 units and completed 21,000 units. If beginning work in process was 9,000 units, how many units are in ending wor
What is your estimate for 2008 sales($)? What is your estimate of 2008 profits after tax? What is the percentage increase in 2008 profits after tax vs 2007 profit after tax of
In recent years several large listed companies have purchased their own ordinary shares. You are required to summarise: (a) the accounting requirements for a public listed com
Assume that the total overhead costs above consist of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 60,000 machine-hour level of acti
John transfers land with a tax basis of $5,000 and a fair market value of $6,000 to Pine Corporation in exchange for stock with a fair market value of $3,000 and $2,000 (cas
Suppose that instead the market quantity demanded at a price of $2.50 is only 75,000. How many firms do you expect there to be in this industry?  payroll sheet for Otis Import
Risk affects the cost of equity capital and thus the value of the perpetuity. Collins and Kothari (1989) provide a discussion of additional determinants of the relation betw