Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question b supplies review the following 4 transac

Question B SUPPLIES Review the following 4 transactions. Assume a transactions in the same accounting...

60.1K

Verified Solution

Question

Accounting

image
Question B SUPPLIES Review the following 4 transactions. Assume a transactions in the same accounting period 1) On April 10, 2021 Number Crunchers, Inc, Inc purchased $8.000 worth of thes on account 2) On September 18, 2021 Number Crunchers, Inc purchased another $2000 worth of supplies on account 3) On November 15, 2021 Number Crunchers, Inc made a cash payment of 57000 towards accounts payable for the previous supply purchases 4) Supplies were counted at year-end on 12/31/21. Supplies worth $4.000 remained For the year ending Dec 31.2021 what are the following ending balances: (do not type the $) Supplies (the asset) $ Supplies Expense $ Accounts Payable $ Please upload your work in your PDF Upload. You may choose between showing T Accounts or Journal entries or both. Memos are not required if you choose to write journal entries. NO WORK SHOWN = NO CREDIT

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students