If the supplies account before adjustment on August 31st indicated a balance of 2250.00 and an inventory of supplies on hand at August 31st totaled 950.00 what would the adjusting entry be?

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1002981

2026-06-06 18:10

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To adjust the supplies account, you need to recognize the amount of supplies used. The supplies used can be calculated by subtracting the ending inventory from the supplies account balance: $2,250.00 - $950.00 = $1,300.00. The adjusting entry would be a debit to the Supplies Expense account for $1,300.00 and a credit to the Supplies account for $1,300.00.

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