Brief Exercise 4-4 Carla Vista Co.\'s trial balance at December 31 shows Supplie

Question

Brief Exercise 4-4 Carla Vista Co.'s trial balance at December 31 shows Supplies $8,890 and Supplies Expense $0. On December 31, there are $2,010 of supplies on hand Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account. (Post entries in the order of journal entries presented in the previous part.) Supplies Supplies Expense

Explanation / Answer

Adjusting entry :

T accounts :

Date account & explanation debit credit Dec 31 Supplies expense (8890-2010) 6880 Supplies 6880 (To record adjusting entry)

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