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UnAdjusted trial balance 31 st May 2020 Office supplies 6,660 June Transaction 05-06-20 Purchased office supplies...

UnAdjusted trial balance 31 st May 2020

Office supplies 6,660

June Transaction

05-06-20 Purchased office supplies on credit, due 15 July 2020 $1,045

Additional Information

• A physical count of office supplies on 30th June shows $2940 of unused supplies on hand.

Journal entries for the year ended 30 june 2020 with workings P&L and SOFP Transaction

Solutions

Expert Solution

Journal entry required on June 30
Date General journal debit credit
Jun-30 Supples expense $   4,765
Office supplies $4,765
working
A opening Office supplies on 31st may 2020 $          6,660
B Add 05-06-20 Purchased office supplies on credit, $          1,045
C =A+B Total supplies available $          7,705
D Less Ending office supplies on 30th June $         (2,940)
E= C - D Supplies consumed during the priod $          4,765

ekkarill92 answered 2 years ago
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