Question

englewood corporation experienced four situations for its supplies. view the four - situations. 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. (record debits first, then credits, journal entries.) beginning supplies purchases of supplies during the year total amount to account for ending supplies supplies expense calculate the amounts that have been left blank for situation 4. for situations 1 and 2, journalize the needed transaction. consider each situation separately. (record debits first, then credits, journal entries.) record the entry for situation 1 to record the purchase of supplies. accounts debit credit

Explanation:

Step1: Recall the supplies - expense formula

The formula for supplies expense is: Supplies Expense=Beginning Supplies + Purchases of Supplies - Ending Supplies. Also, Total amount to account for = Beginning Supplies+Purchases of Supplies.

Step2: Analyze Situation 3

In Situation 3:

• Beginning supplies = $700$, Purchases of supplies = $1300$. So, Total amount to account for = $700 + 1300=2000$ (already given).
• Ending supplies = $700$. Using the supplies - expense formula, Supplies Expense=Beginning Supplies + Purchases of Supplies - Ending Supplies. So, Supplies Expense=$700 + 1300-700 = 1300$ (already given).

Step3: Analyze Situation 4

In Situation 4:

• Beginning supplies = $1000$, Purchases of supplies = $800$. So, Total amount to account for = $1000 + 800=1800$ (already given).
• Supplies Expense = $1600$. Using the supplies - expense formula Supplies Expense=Beginning Supplies + Purchases of Supplies - Ending Supplies, we can solve for Ending Supplies.
• Rearranging the formula gives Ending Supplies=Beginning Supplies + Purchases of Supplies - Supplies Expense.
• Substitute the values: Ending Supplies=$1000 + 800-1600=200$.

Step4: Journalize the purchase of supplies (assuming Situation 1, and assuming supplies are purchased on account)

When supplies are purchased, the Supplies account is debited (an increase in an asset) and the Accounts Payable account is credited (an increase in a liability if purchased on account).

Accounts	Debit	Credit
Accounts Payable		[Amount of purchase]

Answer:

For Situation 4, the ending supplies amount is $200$.
For journalizing the purchase of supplies (assuming on - account purchase):
Debit: Supplies
Credit: Accounts Payable
(The amounts for debit and credit in the journal entry depend on the actual purchase amount in Situation 1 which is not given in full in the provided information)