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View Full Version : What is the adjustment for store suply on hand


michaela3225
Sep 5, 2012, 10:49 AM
The balance brought forward from the month of June for store supplies on hand is $378.The new balance for the month of July is $471,and the balance of store supply expense is $941.How do I make the adjustments or the entry for the month of July.Thank u

paraclete
Sep 5, 2012, 03:38 PM
You simply carry the difference to the expense account by debiting supplies and crediting expense

michaela3225
Sep 5, 2012, 07:53 PM
you simply carry the difference to the expense account by debiting supplies and crediting expense

Thank u for your help.I really apreciated.