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    deejay tury's Avatar
    deejay tury Posts: 4, Reputation: 1
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    #1

    Feb 25, 2007, 02:03 PM
    Debits and credits
    When the question states : an inventory count shows $280 of cleaning supplies on hand?

    Do you subtract $280 from the cleaning supplies or does $280 stay as is... or does it go in the general journal as $920 because cleaning supplies are $1200?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Feb 25, 2007, 05:16 PM
    So from my understanding of what you are asking…

    On your balance sheet, you have cleaning supplies listed at $1,200

    But it is telling you that you only have $280 left. Therefore, you used up $920.

    Therefore, the JE is:

    Dr. Supplies Expense 920
    Cr. Cleaning Supplies 920
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    genius101 Posts: 1, Reputation: 1
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    #3

    Mar 2, 2007, 08:20 AM
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    anuram's Avatar
    anuram Posts: 1, Reputation: 1
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    #4

    Mar 2, 2007, 02:25 PM
    Quote Originally Posted by deejay tury
    when the question states : an inventory count shows $280 of cleaning supplies on hand?

    do you subtract $280 from the cleaning supplies or does $280 stay as is ...or does it go in the general journal as $920 because cleaning supplies are $1200 ??
    cleaning supplies listed is $1200
    cleaning supplies on hand is $280
    cleaning supplies used $190($1200-$280=$920)
    Supplies Expense 920
    Supplies 920
    deejay tury's Avatar
    deejay tury Posts: 4, Reputation: 1
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    #5

    Mar 2, 2007, 03:31 PM
    Quote Originally Posted by deejay tury
    when the question states : an inventory count shows $280 of cleaning supplies on hand?

    do you subtract $280 from the cleaning supplies or does $280 stay as is ...or does it go in the general journal as $920 because cleaning supplies are $1200 ??
    In the adjustment trial balance it goes as 280 and in the general journal it goes as 920 because u subtract 280 from 1200 .

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