Supplies are Assets until they are used. When they are used up, their costs are reported as expenses.
The Journal entry when supplies are purchased:
Supplies (Dr)
Accounts payable / Cash (Cr)
The Journal entry when supplies are used:
Supplies Expense (Dr)
Supplies (Cr)
Fill in the Blank Question Supplies are (assets/expenses/iabilities) until they are used. When they are used...
fill in the blank question
Fill in the Blank Question When financial statements are prepared, unexpired prepaid accounts are recorded as (expenses/assets/iabilities) and the expired portion of the prepaid account is reported as ain) (expense/asset liability). Confidence Level Rate your confidence to submit your answer Home
Fill in the Blank Question Prepaid accounts are (assets/liabilities) that represent prepayments of future expenses and are increased with a (debit/credit).
Multiple Choice Question Identify which of the following lists include only examples of assets. O Equipment, dividends, land O Cash, accounts payable, supplies O Unearned revenue, accounts payable, cash, O Building, cash, accounts receivable Confidence Level Rate your confidence to submit your answer. High Medium LOW
FILL IN THE BLANK: The ____________ is when a dietary change, such as switching from a high fat diet to a low fat diet, can affect the level of intake of other nutrients, such as a decrease in calorie intake and an increase in fiber and vitamins.
an anticoagulant medication
J Question 2 of 10 Next Type: Fill-in-the-blank Fill-in-the-E Section III: Hematology and Coagulation Score: 10% (2/10) Submit Read each question, type in your answer, then click "Submit." 2. An anticoagulant medication used when patients have a history of blood clots Ans: | dinc.com
100001 15 of 31 Concepts completed Fill in the Blank Question A company has a predetermined overhead rate of $14 per machine hour Job 846 uses 275 machine hours. Overhead allocated to Job 846 will be $ Need help? Review these concept resources. Read About the Concept Rate your confidence to submit your answer Reading
Chapter 2 - Review Flashcards Financial & Managerial Accounting: Information for Decisions, 8e INOMA | 3 of 35 Concepts completed True or False Question True or false: Assets are claims (by creditors) against the company O True O False Confidence Level Rate your confidence to submit your answer. High Medium Low
Fill In the Blank Question 189 * Your answer is incorrect. Try again. Net income from operations is generally not the same as cash provided from operations because revenues and expenses are recognized in the income statement on the basis. LINK TO TEXT Question Attempts: 1 of 3 used SAVE FOR LATER SUBMIT ANSWER 7:12 PM
Multiple Choice Question An increase in accounts receivable will result in a(n) in cash from sales revenue when using the direct method to determine cash flows from operations. O increase O decrease Rate your confidence to submit your answer. High Medium Medium 1 Low LOW
Connect Core Concepts In Health, Big Progress 13% 3 Multiple Choice Question and dietary fiber. Complex carbohydrates include O protein O fatty acids O starches O hydrogenated oils Confidence Level Rate your confidence to submit your answer. High Medium LOW