Reference no: EM132386759
Question
At the beginning of the? year, office supplies of $ 1,200 were on hand. During the? year, Amble Air Conditioning Service paid $6,500 for more office supplies. At the end of the? year, Amble has $ 500 of office supplies on hand.Record the adjusting entry assuming that Amble records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense? T-accounts.
Make sure to include the beginning balance and purchase of office supplies in the Office Supplies? T-account.
Requirement 1. Record the adjusting entry assuming that Amble
Amble records the purchase of office supplies by initially debiting an asset account. Post the adjusting entry to the Office Supplies and Supplies Expense? T-accounts. Make sure to include the beginning balance and purchase of office supplies in the Office Supplies? T-account.
Begin by recording the adjusting entry assuming that Amble records office supplies by initially debiting an asset account. ?(Record debits? first, then credits. Select the explanation on the last line of the journal? entry.)
Now post the adjusting entry to the Office Supplies and Supplies Expense? T-accounts.
Enter the beginning balances on the first line of each account. Use a ?"Jan. ?1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office Supplies? T-account, then post the adjusting entry. Use a? "Bal." reference to show the ending balance of each account. ?(For accounts with a? $0 unadjusted? balance, make sure to enter? "0" on the normal side of the? accounts.)
Requirement 2. Record the adjusting entry assuming that Amble
Amble records the purchase of office supplies by initially debiting an expense account. Post the adjusting entry to the Office Supplies and Supplies Expense? T-accounts. Make sure to include the beginning balance in the Office Supplies? T-account, and the purchase of office supplies in the Supplies Expense? T-account.
Begin by recording the adjusting entry assuming that Amble records office supplies by initially debiting an expense account. ?(Record debits? first, then credits. Select the explanation on the last line of the journal? entry.)
Now post the adjusting entry to the Office Supplies and Supplies Expense? T-accounts. Make sure to include the beginning balance in the Office Supplies? T-account, and the purchase of office supplies in the Supplies Expense? T-account.
Enter the beginning balances on the first line of each account. Use a ?"Jan. ?1" reference to show the beginning balance. Make sure to include the purchase of office supplies in the Office Supplies? T-account, then post the adjusting entry. Use a? "Bal." reference to show the ending balance of each account. ?(For accounts with a? $0 unadjusted? balance, make sure to enter? "0" on the normal side of the? accounts.)
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