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A tabular summary of transactions for Skysong, Inc. before adjustments includes the following selected account information.

Assets = Liabilities + Stockholders' Equity
Com Stock + Rev. - Exp.(Supplies) - Dv
Bal= 9,400 0

Required:
On December 31, there is $1,900 of supplies on hand. Record the adjustment for supplies in the tabular summary and indicate the adjusted balance in each account.

Respuesta :

Answer and Explanation:

The adjustment for supplies in the tabular summary and indicate the adjusted balance in each account is shown below:-  

          Supplies =      Common Stock +      Rev -       Expense-      Dividend

                                                                                      Supplies

balance $9400      

31-Dec   -$8200                                                          $8,200  

Adjusted

balance   $1,200                                                        $8,200

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