Question

Bird Kultgen Corporation experienced four situations for its supplies. Requirement 1. Calculate the amounts that have been left blank for each situation. For situations 1 and 2, journalize the needed transaction. Consider each situation separately. Calculate the amounts that have been left blank for each situation. Situation 1 Beginning supplies: $2,100 Purchases of supplies during the year: $3,400 Total amount to account for: $5,500 Ending supplies: ($990) Supplies Expense: $2,410 Situation 2 Beginning supplies: $700 Purchases of supplies during the year: $600 Total amount to account for: $1,300 Ending supplies: ($600) Supplies Expense: $700 Situation 3 Beginning supplies: $600 Purchases of supplies during the year: ($300) Total amount to account for: $300 Ending supplies: $0 Supplies Expense: $600 Situation 4 Beginning supplies: $600 Purchases of supplies during the year: $500 Total amount to account for: $1,100 Ending supplies: $900 Supplies Expense: $600 For situations 1 and 2, journalize the needed transaction. Consider each situation separately. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the entry for situation 1 to record the purchase of supplies. Journal Entry Accounts Debit Credit 1 Supplies Expense $2,410 Accounts Payable $2,410 For situation 2, make the needed journal entry to record Supplies Expense. Journal Entry Accounts Debit Credit 2 Supplies Expense $700 Accounts Payable $700

Bird Kultgen Corporation experienced four situations for its supplies.

Requirement

1. Calculate the amounts that have been left blank for each situation. For situations 1 and 2, journalize the needed transaction. Consider each situation separately.

Calculate the amounts that have been left blank for each situation.

Situation 1
Beginning supplies: $2,100
Purchases of supplies during the year: $3,400
Total amount to account for: $5,500
Ending supplies: ($990)
Supplies Expense: $2,410

Situation 2
Beginning supplies: $700
Purchases of supplies during the year: $600
Total amount to account for: $1,300
Ending supplies: ($600)
Supplies Expense: $700

Situation 3
Beginning supplies: $600
Purchases of supplies during the year: ($300)
Total amount to account for: $300
Ending supplies: $0
Supplies Expense: $600

Situation 4
Beginning supplies: $600
Purchases of supplies during the year: $500
Total amount to account for: $1,100
Ending supplies: $900
Supplies Expense: $600

For situations 1 and 2, journalize the needed transaction. Consider each situation separately. (Record debits first, then credits. Exclude explanations from any journal entries.)

Record the entry for situation 1 to record the purchase of supplies.

Journal Entry
Accounts Debit Credit
1 Supplies Expense $2,410
Accounts Payable $2,410

For situation 2, make the needed journal entry to record Supplies Expense.

Journal Entry
Accounts Debit Credit
2 Supplies Expense $700
Accounts Payable $700