Multiple Choice
Point Corporation purchased supplies at a cost of $14,500 during the year. At January 1, supplies on hand were $1,000. At December 31, supplies on hand are $3,500. Determine the amount of supplies expense for the year.
A) $14,500
B) $12,000
C) $13,500
D) $17,000
Correct Answer:
Verified
Correct Answer:
Verified
Q71: What is the effect on the accounting
Q72: Suppose that a business purchases a 6-month
Q73: On October 1, 2012, Zane Corporation paid
Q74: GMC sells cars and pays each salesperson
Q75: Blackrock Company received a 6-month, 15% note
Q77: Pro Incorporated operates five days per week
Q78: The accounting cycle requires three trial balances
Q79: Which of the following accounts will appear
Q81: Graystone Company's plant operates five days per
Q116: Income statement accounts are also known as