I've got a question that ask you to prepare a 10 column work sheet based on the information given, the things I m confused about is the stock section

the business was brought in 1/06/08 with promotional material supplies $550
on 4/06/08 purchase promotional materials $346
on 15/06/08 purchase promotional materials $479

the end of the year (30/06/09) closing stock of promotional materials is $910

in the 10 column worksheet there is an item called "Cost of goods sold", do i need to calculate the cost of goods sold and show it on trial balance or adjustments? or I just need to show it on P/L and B/S statement? and the cost of goods sold should be $550+$346+$479-$910 = $465?

I'm a little confused. Having pertinent info from the problem is useful.

Is the company selling these promotional materials? Is this merchandise inventory? Or is this like supplies, something they are just using themselves.

If it's selling, what method are you using, perpetual or periodic?

Little difficult to answer if we don't know what they're doing with the promotional materials.

the company is real estate agent, so it is just a supply, they are not selling these

Well, if this is supplies, then it doesn't have anything to do with cost of goods sold. Cost of good SOLD is the cost of what is SOLD. They aren't related to things the company uses for itself, only for sales.

Your math is correct. That is the amount of the supplies that was used. The entry for used supplies is to debit Supplies Expense and credit Supplies. By doing that you are removing the used portion out of the Supplies account, and then the used portion also now gets expense, cause, well, it's used.

Don't assume that any adjustment needs made to COGS. Actually, I'm not quite sure why a real estate company would have such an account. Their revenue is from commissions on sales, not from selling the stuff themselves. They could have "cost of revenue" or something like that, but not cost of GOODS sold, cause they aren't selling any goods.

Thank you very much for explaination

You're welcome.