User Account

All Pages

Prepare the journal entry to record the purchase of supplies

Assignment Help Accounting Basics
Reference no: EM132535356

Question - Hahn Consulting Company's general ledger showed $785 in the Supplies account on January 1, 2017.

On May 31, 2017, the company paid $3,255 for additional supplies.

A count on December 31, 2017, showed $1,035 of supplies on hand.

a) Prepare the journal entry to record the purchase of supplies on May 31, 2017.

b) Calculate the amount of supplies used in 2017.

c) Prepare the adjusting entry required at December 31, 2017.

Reference no: EM132535356

Questions Cloud

Present value of the cash flows she will receive : If Winnie invests the proceeds at a rate of 7.84 percent per annum, what will be the present value of the cash flows she will receive?
Analyze all the possible choices swarovski : Required: By using above information, analyze all the possible choices Swarovski has and find out the best choice among them.
Provide an example from your own workplace : Provide an example from your own workplace or industry when an expert consultant would be a better fit than a process consultant
How would handle ownership of the assessment : What key elements would you include as part of a fraud risk assessment? Why are these elements critical to success? How would handle ownership of the assessment
Prepare the journal entry to record the purchase of supplies : Hahn Consulting Company's general ledger showed $785 in the Supplies account on January 1, 2017. Prepare the journal entry to record the purchase of supplies
What are the total number of vehicles : What are the total number of vehicles that the company expects to sell in year 3 and year 4?
Discuss positive effects of regulation on combatting fraud : How is financial statement fraud committed on behalf of an organization different from fraud committed against an organization (such as embezzlement)?
Describe unconventional attack : Describe an unconventional attack (e.g., cyber, WMD/CBRN, violent extremist) that has occurred in the United States within the past five years.
What could you do to improve your skills to strengthen : Do you feel that in a consulting role you would attack the closing stage from the standpoint of an artist or scientist

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd