On November 1, Carlisle Equipment had a beginning balance in the Office Supplies account of $600. During the month, Carlisle purchased $2,300 of office supplies. At November 30, Carlisle Equipment had $500 of office supplies on hand. Requirements 1. Open the Office Supplies T-account, and enter the beginning balance and purchase of office supplies. . Record the adjusting entry required at November 30. . Post the adjusting entry to the two accounts involved, and show their balances at November 30.

Your company paid rent of $1,000 for the month with check number 1245. Which journal would the company use to record this?

At January 31, 2021, the balance in Foster Inc.’s Supplies account was $750. During February, Foster purchased supplies of $900 and used supplies of $1,125. At the end of February, the balance in the Supplies account should be       a $775 debit.   b $525 credit.   c $975 debit.   d $525 debit.

December 31, 20, according to the Trial Balance, the Office Supplies account has a balance of 2,100.00.Adjustment data reveals that 960.00 of office supplies are on hand at the end of the period.Journalize the adjusting entry.

Quantum Solutions Company, a computer consulting firm, has decided to write off the $33,550 balance of an account owed by a customer, Alliance Inc. Required:   On March 1, journalize the entry to record the write-off, assuming that (a) the direct write-off method is used and (b) the allowance method is used. Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTS Quantum Solutions Company General Ledger   ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Alliance Inc. 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment   LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215…

Ainsley Emporium sells gift cards to customers. In December, customers purchased $10,000 of gift cards. During December, the gift card recipients used gift cards to purchase $3,000 of goods. Prepare Ainsley’s entry for (1) the sale of the gift cards and (2) the year-end adjusting entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit             (To record cash received for goods to be provided at a later date)                 (To record the sale of merchandise using a gift card)

On December 31, the balance in the office supplies account is $1,295. A physical count shows $425 worth of supplies on hand. Journalize the adjusting entry for supplies. If an amount box does not require an entry, leave it blank. Dec. 31 Previous