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    jplank7294's Avatar
    jplank7294 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 4, 2006, 02:46 PM
    Adjusting Entries
    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's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Dec 4, 2006, 06:43 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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