Bridge Company keeps a small inventory of supplies used for cleaning and maintenance purposes.On January 1,2019,the inventory of supplies on hand was $2,000.During the year,supplies purchased were debited to the supplies account in the amount of $6,500.On December 31,2019,the amount of supplies in the storeroom was $1,750.The books are adjusted only at year-end.
Prepare the adjusting entry required at December 31,2019.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q108: Which of the following accounts would not
Q109: On November 1,2019,Bruce Company leased some of
Q110: Below are two related transactions for Golden
Q111: On December 1,2019,Fleet Company paid $30,000 for
Q112: Which of the following is not a
Q114: Lane Company is completing the accounting cycle
Q115: Below are four transactions that were completed
Q116: Describe the adjusted trial balance.
Q117: What are the purposes of closing entries?
Q118: On November 1,2019,Bug Busters collected $6,000 in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents