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What 's the required adjusting entry if prior to recording adjusting entries the office supplies account had a 359 debit balance a physical count of the supplies showed 105 of unused supplies availabl?
254
To make an adjusting entry for the accrued commission is what?
Adjusting entry as follows: [Debit] Cash / bank [Credit] Accrued commission
What is the Utility expenses incurred but not paid adjusting entry?
This is adjusting entry for Accrued Expenses in the current accounting period, where you debit adjusting entry on expenses (Utility Expenses) account and credit adjusting entry on liabilities (Utilities Payable) account.
What is the journal entry of supplies used?
[Debit] Supplies expenses [Credit] Supplies Inventory
The adjusting entry to record supplies expense accomplishes which of the following?
Decreases an asset and increases an expense.
What 's the required adjusting entry if prior to recording adjusting entries the office supplies account had a 359 debit balance a physical count of the supplies showed 105 of unused supplies availabl?
254
To make an adjusting entry for the accrued commission is what?
Adjusting entry as follows: [Debit] Cash / bank [Credit] Accrued commission
What is the Utility expenses incurred but not paid adjusting entry?
This is adjusting entry for Accrued Expenses in the current accounting period, where you debit adjusting entry on expenses (Utility Expenses) account and credit adjusting entry on liabilities (Utilities Payable) account.
At the end of the month the adjusting journal entry relating to the use of supplies would include a?
debit supplies expensescredit supplies inventory
What is the journal entry of supplies used?
[Debit] Supplies expenses [Credit] Supplies Inventory
The adjusting entry to record supplies expense accomplishes which of the following?
Decreases an asset and increases an expense.
What is the adjusting entry to decrease inventory?
credit inventory, debit cost of good sold.
What is meant by adjustment entry?
An adjustment is usually an entry made near the end of an accounting cycle (often during the trial balance stage) to bring an account into balance. For instance, the "books" may show a certain quantity on hand -say 1000 units- of supplie, but when you do a physical count you discover there are only 900 units on hand. At this point you will have to make an adjusting entry to the supplies expense account (a credit balance account-the supplies account has a debit balance) of 100 to offset the supplies account and bring the account in balance: Or you can just credit the difference directly into the supplies account: Debit Credit Balance Supplies- 1000 (100) 900
What will be the journal entry Office supplies purchased in cash but not used?
debit office suppliescredit cash
The entry to adjust for the cost of supplies used during the accounting period is?
debit Supplies Expense; credit Supplies
How do you journal entry office supplies on account?
Debit office suppliesCredit accounts payable
What is a corerecting entry?
A correcting entry is an entry that corrects a previous entry. ex. You buy supplies worth $500 You debit Equipment and you credit Cash then you CORRECT it by: debiting Supplies and crediting Equipment Basically, since you made a mistake in the first entry, you correct it. In some cases, you redo the entry by debiting cash, crediting equipment; then starting over, debit supplies, credit cash.
