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Argosy University/ Phoniex University/
Nov-2005 - Oct-2011

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Phoniex University
Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 4.00

Bird-Kultgen, Inc.

(Learning Objective 2, 3: Allocating supplies cost to the asset and the expense) Bird-Kultgen, Inc., experienced four situations for its supplies. Compute the amounts indicated by question marks for each situation. For situations 1 and 2, journalize the needed transaction. Consider each situation separately.

		Situation
	1	2	3	4
Beginning supplies	$ 500	$1,000	$300	$ 900
Payments for supplies during the year	?	3,100	?	1,100
Total cost to account for	1,300	?	?	2,000
Ending supplies	400	500	700	?
Supplies expense	$ 900	$ ?	$700	$1,400

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Status NEW Posted 26 Sep 2017 03:09 PM My Price 4.00

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