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If the January 1 Balance in the Supplies Account for a Company

Question 90

Multiple Choice

If the January 1 balance in the Supplies account for a company was $520, the company purchased an additional $380 of supplies during the month, and a physical count of the supplies indicates that $235 of supplies is on hand at the end of January, the adjusting entry on January 31 for supplies should be:


A) If the January 1 balance in the Supplies account for a company was $520, the company purchased an additional $380 of supplies during the month, and a physical count of the supplies indicates that $235 of supplies is on hand at the end of January, the adjusting entry on January 31 for supplies should be: A) B) C) D) E)
B) If the January 1 balance in the Supplies account for a company was $520, the company purchased an additional $380 of supplies during the month, and a physical count of the supplies indicates that $235 of supplies is on hand at the end of January, the adjusting entry on January 31 for supplies should be: A) B) C) D) E)
C) If the January 1 balance in the Supplies account for a company was $520, the company purchased an additional $380 of supplies during the month, and a physical count of the supplies indicates that $235 of supplies is on hand at the end of January, the adjusting entry on January 31 for supplies should be: A) B) C) D) E)
D) If the January 1 balance in the Supplies account for a company was $520, the company purchased an additional $380 of supplies during the month, and a physical count of the supplies indicates that $235 of supplies is on hand at the end of January, the adjusting entry on January 31 for supplies should be: A) B) C) D) E)
E) If the January 1 balance in the Supplies account for a company was $520, the company purchased an additional $380 of supplies during the month, and a physical count of the supplies indicates that $235 of supplies is on hand at the end of January, the adjusting entry on January 31 for supplies should be: A) B) C) D) E)

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