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hello everyone this is Larry your instructor for financial accounting I want to show you an example of an adjusting entry specifically an entry for consuming or using supplies were going to see how we make an adjustment that shows how much we have expensed in supplies over a period and that period could be a month recorder or a year this is a typical example that you will see in nearly any financial accounting textbook first before we talk about supplies lets look at an example that many of us are familiar with today I stopped for lunch at a barbecue restaurant and they had sweet tea in a large stainless steel container looked kind of like this Ive drawn this very simply and if we were to work at a restaurant like this during the rush hour at lunch we could figure out as people are going up to this container and helping themselves to iced tea even though were not tracking every glass of iced tea that people are taking we could figure out how much was used or consumed if we knew tha
