Accountng

posted by .

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 upon purchasing. On January 31st an inspection of the office supplies cabinet shows that only $810.00 of office supplies remains in the locker. Write the january 31st entry for office supplies in the space beloe.
I am lost because of the additional expense, and if you have $1250.00 at the beginning and $810 at the end with purchasing additional supplies, this does not add up to me, can someone help me, please!!!

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Accounting Help Needed

    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 …
  2. accounting

    Andy Wright, D.D.S., opened a dental practice on January 1, 2008. During the first month of operations the following transactions occurred. Performed services for patients who had dental plan insurance. At January 31, $875 of such …
  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. ACCOUNTING CONFUSED!! HELP

    Andy Wright,D.D.S., opened a dental practice on January 1, 2008. During the first month of operations the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $875 of such …
  5. ACCOUNTING CONFUSED!! HELP

    Andy Wright,D.D.S., opened a dental practice on January 1, 2008. During the first month of operations the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $875 of such …
  6. College Accounting

    Night office manager's returned $100 worth of supplies to Gordan office supplies. Night received a $100 reduction on the account. Which to account was affected
  7. Financial Accounting

    Prepare adjusting journal entries for the year ended December 31, 2011 for each of the independent situation in (a) to (f). Assume that prepaid expenses are initially recorded in asset accounts. Assume that fees collected in advance …
  8. 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 …
  9. Accounting

    Jay Pembroke started a business. During the first month (April 20--), the following transactions occurred. Invested cash in business, $18,428. Bought office supplies for $4,433: $1,896 in cash and $2,537 on account. Paid one-year insurance …
  10. acct

    The Supplies account had a balance of $4,800 at the beginning of the month and $6,400 at the end of the month. The cost of supplies purchased during the month was $15,600. Calculate the cost of supplies used during the month. The cost …

More Similar Questions