A Physical Count of Supplies on Hand at the End

question 18

Multiple Choice

A physical count of supplies on hand at the end of May for Masters,Inc.indicated $1,250 of supplies on hand.The general ledger balance before any adjustment is $2,100.What is the adjusting entry for office supplies that should be recorded on May 31?

• A)Debit Supplies Expense $1,250 and credit Supplies $1,250.
• B)Debit Prepaid Supplies $850 and credit Supplied Expense $850.
• C)Debit Supplies Expense $1,250 and credit Supplies $2,100.
• D)Debit Supplies $1,250 and credit Cash $1,250.
• E)Debit Supplies Expense $850 and credit Supplies $850.

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Definitions:

Real Number Line

A line that represents all real numbers in a continuous sequence, with positive numbers to the right of zero and negative numbers to the left.

Real Line

A one-dimensional space consisting of all the real numbers, visualized as a straight line where each point corresponds to a unique real number.

Inequality

A mathematical statement that shows the relationship between two expressions that are not equal, using symbols such as <, >, ≤, or ≥.

Real Line

The real line refers to a one-dimensional space where every point represents a real number, stretching infinitely in both positive and negative directions.