Solved

At the Beginning of the Period, Hann Corporation Had $4,000 4,300\quad 4,300

Question 78

Multiple Choice

At the beginning of the period, Hann Corporation had $4,000 of supplies on hand. During the period, it purchased $1,300 of supplies and debited supplies for the same amount. At the end of the period, Hann Corporation determined that only $1,000 of supplies were still on hand. What adjusting entry should Hann Corporation make at the end of the period?


A)
Supplies 4,300\quad 4,300
Supplies Expense 4,300\quad 4,300
B)
Supplies 1,300\quad 1,300
Supplies Expense 1,300\quad 1,300
C)
Supplies Expense 1,300\quad 1,300
Supplies 1,300\quad 1,300
D)
 Supplies Expense 4,300 Supplies 4,300\begin{array} { c c } \text { Supplies Expense } & 4,300 \\\text { Supplies } & 4,300\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions