Need help please. I’m kind a confuse on how to complete the adjusted trial balance. Thank you
Need help please. I’m kind a confuse on how to complete the adjusted trial balance. Thank you
The following is a partial unadjusted Trial Balance.
Bravo Unlimited
Unadjusted Trial Balance (partial)
2/29/16
Accounts
Debit credit
cash $15,500
Supplies 14,000
Accounts Payable 10,500
Supplies Expense 5,000
The Supplies account balance on February 1, 2016 was $2,000. During the month of February Bravo purchased $12,000 of supplies for use in its operations. On February 29, Bravo warehouse chief inventoried supplies and determine the value on hand was $1,500. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write “No Entry Required.”