Multiple Choice
The entry to adjust for the cost of supplies used during the accounting period is
A) debit Supplies Expense; credit Supplies
B) debit Retained Earnings; credit Supplies
C) debit Accounts Payable; credit Supplies
D) debit Supplies; credit Retained Earnings
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q7: At the end of the current year,
Q77: Which of the following is an example
Q84: On January 1st, Power House Co. prepays
Q89: If the adjustment to recognize expired insurance
Q108: Complete the missing items in the following
Q114: Which of the accounts below would most
Q118: The account type and normal balance of
Q118: Journalize the six entries to adjust the
Q145: The system of accounting where revenues are
Q175: A company purchases a one-year insurance policy