Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the sheffield bakery purchased $6630 worth of baki

The Sheffield Bakery purchased $6630 worth of baking supplies on June 2 and recorded the...

80.2K

Verified Solution

Question

Accounting

The Sheffield Bakery purchased $6630 worth of baking supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the baking supplies indicated only $3190 on hand. The adjusting entry that should be made by the company on June 30 is

debit Baking Supplies Expense, $3190; credit Baking Supplies, $3190.

debit Baking Supplies Expense, $3440; credit Baking Supplies, $3190.

debit Baking Supplies, $3440; credit Baking Supplies Expense, $3440.

debit Baking Supplies Expense, $3440; credit Baking Supplies, $3440.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

If you had damage to the glossopharyngeal nerve, which taste would be markedly diminished? Mainly sweet. Mainly salty. All...

Biology
Q

Cellular communication and division In one paragraph connect the following: Mitochondria and Anaphase. Hints what is going on in...

Biology
Q

If a fraction of a solid disc s kinetic energy is rotational when it is...

Physics
Q

D A B C energy is conserved Four possible forms of the potential energy of...

Physics
Q

Match the given function to one of the graphs y 2 sin O A B...

Basic Math
Q

2 You are constructing a cardboard box with the dimensions 2 m by 4 m...

Calculus
Q

Refer to the following selected financial information from McCormik, LLC. Compute the company's inventory turnover...

Accounting
Q

According to Reader's Digest, 40% of primary care doctors think their patients receive unnecessary medical...

Accounting
Q

How will corporate governance issues address sustainability? 1- Is good corporate governance could...

Accounting
Q

Listed below are year-end account balances ($ in millions) taken from the records of Symphony...

Accounting
Q

Discussion Questions Based Upon Chapter 10: After reviewing chapter 10, of the individual influences...

Finance
Q

3.You are given the two signals in Figure P2.3. (a) Express y(t) as a function...

Accounting