Adjusting Entries

jplank7294 · #1 Dec 4, 2006, 12:46 PM

How do I do this!

(a & b) Merchandise Inventory as of Dec 31, $19,700
(c) unused supplies on hand $525
(d) Unexpired insurance on Dec 31, $1000.

I know how to enter them into quickbooks but what do I do to get the amounts? Do I just use the $525 and $1000?

How do I get the amount for (A) and (B)?

Thank you

CaptainForest · Dec 4, 2006, 04:43 PM

Supplies.

Unused supplies of 525 means that’s what you have left.

So if your total was 1,000, then you need a JE of 475 to get it down to 525.



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