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21 September, 19:03

Carla Vista Co.'s trial balance at December 31 shows Supplies $8,780 and Supplies Expense $0. On December 31, there are $2,120 of supplies on hand. Prepare the adjusting entry at December 31.

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  1. 21 September, 19:04
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    The adjusting entry is shown below:

    On December 31

    Supplies expense A/c Dr $6,660

    To Supplies A/c $6,660

    (Being supplies account is adjusted)

    The supplies expense is computed by

    = Supplies balance - supplies on hand

    = $8,780 - $2,120

    = $6,660

    We simply debited the supplies expense account and credited the supplies account for $6,660
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