E3-23 - E323 a Depreciation for the current year includes...

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E3-23a.Depreciation for the current year includesEquipment, $ 2 comma 700$2,700.
b.EachMonday, KirklandKirklandpays employees for the previousweek's work. The amount of weekly payroll is $ 3 comma 500$3,500for aseven-day workweek(Monday toSunday). Thisyear, December 31 falls on ThursdayThursday.
c. The beginning balance of Office Supplies was $ 2 comma 600$2,600. During theyear, KirklandKirklandpurchased office supplies for $ 2 comma 500$2,500, and at December 31 the office supplies on hand totaled $ 1 comma 800$1,800. (Assume that KirklandKirklanddebits an asset account when supplies arepurchased.)
DateAccounts and ExplanationDebitCredit(c) Dec. 31Supplies Expense3,300Office Supplies3,300To record office supplies used.d. KirklandKirkland

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