The Balance in the Office Supplies Account on May 1

question 31

Multiple Choice

The balance in the office supplies account on May 1 was $6,380, supplies purchased during June were $4,740, and the supplies on hand at May 31 were $2,360.The amount to be used for the appropriate adjusting entry is:

• A) $8,740.
• B) $4,740.
• C) $8,760.
• D) $13,480.

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Definitions:

Higher Wage

The increased remuneration or salary received by an employee, often as a result of promotions, market adjustments, or successful salary negotiations.

Labor for Leisure

The trade-off between working hours for income and spending time on relaxation or enjoyment activities.

Hourly Wage Rate

The hourly wage rate is the amount of money paid to an employee for one hour of work, often used to calculate overall earnings in jobs that compensate workers on an hourly basis.

Extra Hour

An additional period of time, typically beyond what is normal or expected, often referring to work or activities.