Accounting Help Needed

posted by .

The balance in the office supplies account on June 1 was $5,200, supplies purchased during June were $2,500, and the supplies on hand at June 30 were $2,000. The amount to be used for the appropriate adjusting entry is

cant figure out how to do it. please help. Thanks

  • Accounting Help Needed -

    Answer should be 5,700

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. accounting

    Wouldn't store supplies and office supplies be owner's equity?
  2. Accounting

    Redmon Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of June. June 1 Purchased $8,100 of merchandise on …
  3. More Acctg

    The supplies account had a beginning balance of $1245 and was debited for $2860 for supplies purchased during the year. Journalize the adjusting entry required at the end of the year assuming the amount of supplies on hand is $1349. …
  4. Accountng

    On january 1st, NetSolutions had a debit balance of $1,250.00 in the Office Supplies account. During the month, Netsolutions purchased $245.00 and $610.00 of office supplies and journalized them to the office supplies asse account …
  5. accounting

    initial investment in the company of $26,200 cash. Here are the assets and liabilities for the month of June, its first month of operation. Cash $4,600.00 Accounts receivable $4,000.00 Revenue $7,000.00 Supplies $2,400.00 Advertising …
  6. acc 280

    P3-1 A Tony Masasi started his own consulting firm, Masasi Company, Inc., on June 1, 2008. The trial balance at June 30 is shown on page 129. MASASI COMPANY, INC. Trial Balance June 30, 2008 Account Number Debit Credit 101 Cash $7,150 …
  7. Accounting

    #15 Supplies: Original Purchase and Adjusting Entry On January 1, the company had office supplies costing $4,600. On March 23, the company bought additional office supplies costing $8,200; the company paid cash. On December 31, a physical …
  8. Fianancial Accounting

    I am trying to prepare an unadjusted trial balance for Aqua Elite, Inc. I have done it twice and it doesnt balance. I am not sure I am doing the right calculations. The information is as follows: Because Aqua Elite, Inc. is a new startup …
  9. accounting

    P4-2A Gil Vogel started his own consulting firm, Vogel Consulting, on June 1, 2012. The trial balance at June 30 is as follows. VOGEL CONSULTING Trial Balance June 30, 2012 Debit Credit Cash $ 6,850 Accounts Receivable 7,000 Prepaid …
  10. accounting

    . On June 1st, Green Pea, Inc. purchased $1,200 worth of supplies on account. How does this transaction affect Green Pea's accounts?

More Similar Questions