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  • Sain Advertising LTD S Opening Trial Balance On January 1 Shows

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    Bube Kachevska
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    Sain Advertising Ltd's opening trial balance on January 1 showed supplies of $1,500. On January 11, the company purchased $1,800 of additional supplies on account. By January 31, $1,100 of supplies remained. The document asks to prepare journal entries to record the supply purchase and adjusting entry, and show the entries and adjusted balances in T accounts.

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    Sain Advertising Ltd s Opening Trial Balance on January 1 Shows

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    Sain Advertising Ltd s Opening Trial Balance on January 1 Shows

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    Sain Advertising Ltd's opening trial balance on January 1 showed supplies of $1,500. On January 11, the company purchased $1,800 of additional supplies on account. By January 31, $1,100 of supplies remained. The document asks to prepare journal entries to record the supply purchase and adjusting entry, and show the entries and adjusted balances in T accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    17 views1 page

    Sain Advertising LTD S Opening Trial Balance On January 1 Shows

    Uploaded by

    Bube Kachevska
    Sain Advertising Ltd's opening trial balance on January 1 showed supplies of $1,500. On January 11, the company purchased $1,800 of additional supplies on account. By January 31, $1,100 of supplies remained. The document asks to prepare journal entries to record the supply purchase and adjusting entry, and show the entries and adjusted balances in T accounts.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Sain Advertising Ltd s opening trial balance on January 1

    shows #8516
    Sain Advertising Ltd s opening trial balance on January 1 shows

    Sain Advertising Ltd.'s opening trial balance on January 1 shows Supplies $1,500. On January
    11, the company purchased additional supplies for $1,800 on account. On January 31, there are
    $1,100 of supplies on hand.

    (a) Prepare the journal entry to record the purchase of supplies on January 11.

    (b) Calculate the amount of supplies used during the month.

    (c) Prepare the adjusting entry required at January 31, assuming adjusting entries are prepared
    monthly.

    (d) Using T accounts, enter the opening balances in the affected accounts, post the journal
    entries in parts (a) and (c), and indicate the adjusted balance in each account.

    Prepare transaction and adjusting entries for depreciation; show statement presentation.

    Sain Advertising Ltd s opening trial balance on January 1 shows

    ANSWER
    http://paperinstant.com/downloads/sain-advertising-ltd-s-opening-trial-balance-on-
    january-1-shows/

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