Model Company Keeps a Small Inventory of Supplies Used for Cleaning

question 146

Essay

Model Company keeps a small inventory of supplies used for cleaning and maintenance purposes. On January 1, 20X1, the inventory of supplies on hand was $400. During the year, supplies purchased were debited to the supplies inventory account in the amount of $800. On December 31, 20X1, the inventory count of supplies in the storeroom was $100. Give the adjusting entry required at December 31, 20X1.

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Definitions:

Inputs

Signals or data received by a system, which are then processed to generate an output.

Inner Hair Cells

Inner hair cells are the sensory cells located in the cochlea of the inner ear, playing a critical role in sound transduction by converting mechanical sound vibrations into electrical signals to the brain.

Human Cochlea

A spiral-shaped, fluid-filled inner ear structure, essential for converting sound wave vibrations into electrical signals for the brain.

Approximately

Used to indicate that a number is not exact, but close to a certain value.