• FirefoxInstall the new Firefox »
    Small Business


    Adjusting Journal Entry?

    My original supplies balance was 2.2. I purchased 10.6 on account, making for an unadjusted balance of My ending balance for the year is 12.8. The problem tells me that my closing balance is of 4.7. What is my adjusted journal entry?
    a few seconds ago 1 Answer

    Best Answer

    Chosen by Asker
    Beginning balance 2.2 Plus purchases 10.6 Equals supplies available for use 12.8 Minus supplies counted at end of year (4.7) Equals supplies expense to be recorded 8.1 Debit Supplies Expense 8.1 Credit Supplies 8.1
    a few seconds ago

    Recommended Articles

    Yahoo Small Business Services