05. acamki company had $2,000 in supplies at the beginning of fiscal year 2022 and purchased $15,500 worth…

05. acamki company had $2,000 in supplies at the beginning of fiscal year 2022 and purchased $15,500 worth of supplies during fiscal year 2022. by the end of fiscal year 2022, $5,800 of supplies remained on hand. the adjusting entry at the end of fiscal year 2022 would include a\n\ndebit to supplies expense for $5,800\ndebit to supplies expense for $11,700\ncredit to supplies expense for $11,700\ndebit to supplies for $11,700

05. acamki company had $2,000 in supplies at the beginning of fiscal year 2022 and purchased $15,500 worth of supplies during fiscal year 2022. by the end of fiscal year 2022, $5,800 of supplies remained on hand. the adjusting entry at the end of fiscal year 2022 would include a\n\ndebit to supplies expense for $5,800\ndebit to supplies expense for $11,700\ncredit to supplies expense for $11,700\ndebit to supplies for $11,700

Answer

Explanation:

Step1: Calculate total supplies available

Total supplies = Beginning supplies + Purchased supplies = $2000 + 15500=$17500$.

Step2: Calculate supplies used

Supplies used = Total supplies - End - ing supplies = $17500 - 5800=$11700$.

Step3: Determine adjusting - entry

The adjusting entry for supplies used is a debit to Supplies Expense (to record the expense) and a credit to Supplies (to reduce the asset). The amount of the debit to Supplies Expense is the amount of supplies used, which is $$11700$.

Answer:

debit to Supplies Expense for $11,700