Grasshopper began the year with $24,000 in its Supplies account. During the year $65,500 in supplies were purchased and debited to the Supplies account. At year-end, supplies costing $25,500 remain on hand. Record the adjusting entry for supplies at its year-end of December 31.

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

On analyzing her company’s goods transport route, simone found that they could reduce transport costs by a quarter if they merged different transport routes. what role (job) does simone play at her company? simone is at her company.

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.