Ask Question
15 December, 22:39

Supplies at the beginning of the year totaled $2,000. During 2021, additional supplies of $18,000 were purchased, and the entire amount was debited to Supplies. Supplies remaining at the end of the year total $4,000. Record the adjusting entry for supplies at its year-end of December 31.

+1
Answers (1)
  1. 15 December, 23:09
    0
    supplies expense 16,000 debit

    supplies 16,000 credit

    Explanation:

    beginning supplies

    + purchase of supplies

    available for use

    -ending supplies (supplies at hand)

    used supplied

    2,000 + 18,000 = 20,000

    ending supplies: 4,000

    supplies expense 16,000

    we will decrease the supplies account and declare the expense.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Supplies at the beginning of the year totaled $2,000. During 2021, additional supplies of $18,000 were purchased, and the entire amount was ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers