Question

An adjusting entry debiting Supplies Expense and crediting Supplies is an example of adjusting an) a. prepaid expense. O b. d
0 0
Add a comment Improve this question Transcribed image text
Answer #1

The correct answer is

A prepaid expenses

Explanation

Supplies expense expenses has been debited with supplies which has been used, but these supplies has been purchased in the past, so the supplies which has been used has been expensed, so these has been expensed out. So these are prepaid expenses.

Add a comment
Know the answer?
Add Answer to:
An adjusting entry debiting Supplies Expense and crediting Supplies is an example of adjusting an) a....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT