[caocaosing]

Cleaning supplies inentory on Janunary 1,2008
Cleaning supplies purchased for cash during 2008
Cleaning supplies inventory on Desember 31,2008


How to joural entries this three transcaction

[kctiger]

Do you have amounts for this these transactions?

[morgaine300]

There is no journal entry for a beginning balance. That is just the balance that was carried forward from the prior year. You cannot journalize balances.

If you are into adjusting entries (the third one), then you should already know how to journalize the purchase of supplies. It's an asset. What happens to an asset account when you purchase it? Do you debit it or credit it? The other side of it could either be cash or accounts payable, depending on whether it's paid for or put on account. (But see my note at the end.)

If you are to make an entry off an ending balance, that really means you're doing an adjusting entry and the entry is for the amount used, not the ending balance. As stated before, you cannot journalize a balance. You need to get the balance prior to the adjusting entry (you had a beginning balance and made a purchase - so what's the new balance?), and then subtract out the ending balance, which leaves you with the amount that you used.

The used portion becomes an expense. Assets which are consumed or expire become expenses. So you need to reduce the supplies by the amount that was used. How do you reduce suppies - dr or cr? Then what do you always do to expenses - dr or cr?

My feeling is that likely you don't really have to make all the entries, but that this information is just for you to balance the account so that you can do the adjusting entry. That's what a typical problem would do - read the instructions carefully.

Make an attempt at this -- feel free to post it and someone can check it. (But we would need the amounts in order to check it.)