On December 31, 2011, the unadjusted trial balance shows Supplies ...

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On December 31, 2011, the unadjusted trial balance shows Supplies of 800. However, only 100 of supplies remains. Prepare the adjusting journal entry at December 31, 2011.
 
  Date Transaction Debit Credit

Question 2

The amount reported in the Balance Sheet columns of the work sheet for the owner's capital represents the
 a. ending balance that should be reported on the balance sheet.
   b. beginning balance.
   c. beginning balance plus additional investments.
   d. beginning balance less withdrawals.

[joewallace]

Answer to Question 1

Date Transaction Debit Credit
12/31/11 Supplies expense 700
Supplies 700
To record supplies expense for the year

Answer to Question 2

c