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Tyrell Company has a Supplies account balance of $1,000 on January 1, 2011. During 2011, it purchased $3,000 of supplies. As of December 31, 2011, a supplies inventory shows $1,300 of supplies available. Prepare the adjusting journal entry to correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2011.How would we write it in the General Journal entry, what would be the supplies expense?
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After attending your seminar about life insurance planning, she has come to you to determine whether she has enough life insurance. Besides the small disability check that her husband receives, she is the only source of income-albeit a good income..
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why do we want to use comparative statements for financial analysis rather than statements for a single date or period?
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