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A company's Office Supplies account shows a beginning balance of $720 and an ending balance of...
A company had no office supplies at the beginning of the year. During the year, the...
A company had no office supplies at the beginning of the year. During the year, the company purchased $400 worth of office supplies. On December 31, $150 worth of office supplies remained. How much should the company report as office supplies expense for the year? Multiple Choice O $150 о O $250 o $200 O $550 O $400 On April 30, 2014, a three-year insurance policy was purchased for $19,260 with coverage to begin immediately. What is the amount of...
The following information is available for Acme Inc. Office Supplies Account: Beginning Balance: $6,500 Office Supplies...
The following information is available for Acme Inc. Office Supplies Account: Beginning Balance: $6,500 Office Supplies Used: $9,000 Ending Balance: $3,300 From the above information, calculate the amount of office supplies purchased. $5,700 $4,400 $5,800 $2,800 Which of the following statements is incorrect? Cash, land, and prepaid expenses normally have debit balances. Interest expense, accumulated depreciation, and land normally have debit balances. Revenue, capital stock, and salaries payable normally have credit balances. Prepaid expenses, rent expense, and interest expense normally...
A company had no office supplies available at the beginning of the year. During the year,...
A company had no office supplies available at the beginning of the year. During the year, the company purchased $380 worth of office supplies. On December 31, $130 worth of office supplies remained. How much should the company report as office supplies expense for the year? Multiple Choice Ο Ο Ο Ο Ο < Prev 6 of 19 !!! Next >
Prior to recording adjusting entries, the Office Supplies account had a $370 debit balance. A physical...
Prior to recording adjusting entries, the Office Supplies account had a $370 debit balance. A physical count of the supplies showed $111 of unused supplies available. The required adjusting entry is: Multiple Choice () Debit Office Supplies $259 and credit Office Supplies Expense $259, Doha Debit Office Supplies Expense $111 and credit Office Supplies $111. 0 O Debit Office Supplies $111 and credit Supplies Expense $259. 0 Debit Office Supplies $111 and credit Office Supplies Expense $111 0 O Debit...
red The unadjusted trial balance of XY Ltd shows a $2,200 balance for the office supplies...
red The unadjusted trial balance of XY Ltd shows a $2,200 balance for the office supplies account. At the end of the period, the office manager determines that the value of supplies on hand is $800. Which of the following is the required adjusting entry? on Select one: A. Supplies Expense Supplies Payable 800 800 B. Supplies Expense Office Supplies 1,400 1,400 800 Supplies Expense Office Supplies 800 D Supplies Expense Supplies Payable 1,400 1,400 Which of the following journal...
The balance in the supplies inventory account was $24019 at the beginning of the year. During...
The balance in the supplies inventory account was $24019 at the beginning of the year. During the year, a total of $92290 of supplies were purchased. These were debited to the supplies expense account. At year end, a count of office supplies revealed that there was $10204 of office supplies on hand. What is the office supplies expense for the year? Select one: O a. $106105 O b. $78475 O c. $92290 O d. $10204
The Office Supplies account had a $480 debit balance at the beginning of the year. During...
The Office Supplies account had a $480 debit balance at the beginning of the year. During the year, $4,885 of office supplies are purchased. A physical count of supplies at December 31 shows $539 of supplies available. The Prepaid Insurance account had a $5,000 balance at the beginning of the year. An analysis of insurance policies shows that $3,000 of unexpired insurance benefits remain at December 31. The company has earned (but not recorded) $600 of interest revenue for the...
Accounting Manipulation Problems a) The Office Supplies account had a $900 balance at the beginning of...
Accounting Manipulation Problems a) The Office Supplies account had a $900 balance at the beginning of the current year; $400 of office supplies were purchased during the year; and the year-end balance sheet showed $300 of office supplies; office supplies expense for the year must have been ___________ b) The Prepaid Insurance account began the current year with a balance of $1,500; the income statement for the year showed Insurance Expense of 1,800; and the year-end balance sheet showed Prepaid...
The beginning balance in supplies inventory is $25,000. During the year, $13,500 of supplies were purchased...
The beginning balance in supplies inventory is $25,000. During the year, $13,500 of supplies were purchased on credit. The ending balance in the supplies inventory account is $23,750. What was the supply expense for the year, wages payable had a beginning balance of $35,000, wage expense for the period was $$48,000. The ending balance in the wages payable account was $36,300. How much cash was paid for wages during the period?
At the beginning of the period, a company reports a balance in office supplies of $550....
At the beginning of the period, a company reports a balance in office supplies of $550. During the period, the company purchases an additional $3,700 of office supplies for cash. By the end of the period, only $850 of office supplies remains Record the period-end adjusting entry (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the period end adjusting entry. Note: Enter debts...
A company had no office supplies at the beginning of the year. During the year, the company purchased $400 worth of office supplies. On December 31, $150 worth of office supplies remained. How much should the company report as office supplies expense for the year? Multiple Choice O $150 о O $250 o $200 O $550 O $400 On April 30, 2014, a three-year insurance policy was purchased for $19,260 with coverage to begin immediately. What is the amount of...
The following information is available for Acme Inc. Office Supplies Account: Beginning Balance: $6,500 Office Supplies Used: $9,000 Ending Balance: $3,300 From the above information, calculate the amount of office supplies purchased. $5,700 $4,400 $5,800 $2,800 Which of the following statements is incorrect? Cash, land, and prepaid expenses normally have debit balances. Interest expense, accumulated depreciation, and land normally have debit balances. Revenue, capital stock, and salaries payable normally have credit balances. Prepaid expenses, rent expense, and interest expense normally...
A company had no office supplies available at the beginning of the year. During the year, the company purchased $380 worth of office supplies. On December 31, $130 worth of office supplies remained. How much should the company report as office supplies expense for the year? Multiple Choice Ο Ο Ο Ο Ο < Prev 6 of 19 !!! Next >
Prior to recording adjusting entries, the Office Supplies account had a $370 debit balance. A physical count of the supplies showed $111 of unused supplies available. The required adjusting entry is: Multiple Choice () Debit Office Supplies $259 and credit Office Supplies Expense $259, Doha Debit Office Supplies Expense $111 and credit Office Supplies $111. 0 O Debit Office Supplies $111 and credit Supplies Expense $259. 0 Debit Office Supplies $111 and credit Office Supplies Expense $111 0 O Debit...
red The unadjusted trial balance of XY Ltd shows a $2,200 balance for the office supplies account. At the end of the period, the office manager determines that the value of supplies on hand is $800. Which of the following is the required adjusting entry? on Select one: A. Supplies Expense Supplies Payable 800 800 B. Supplies Expense Office Supplies 1,400 1,400 800 Supplies Expense Office Supplies 800 D Supplies Expense Supplies Payable 1,400 1,400 Which of the following journal...
The balance in the supplies inventory account was $24019 at the beginning of the year. During the year, a total of $92290 of supplies were purchased. These were debited to the supplies expense account. At year end, a count of office supplies revealed that there was $10204 of office supplies on hand. What is the office supplies expense for the year? Select one: O a. $106105 O b. $78475 O c. $92290 O d. $10204
At the beginning of the period, a company reports a balance in office supplies of $550. During the period, the company purchases an additional $3,700 of office supplies for cash. By the end of the period, only $850 of office supplies remains Record the period-end adjusting entry (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the period end adjusting entry. Note: Enter debts...
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