A Company Started the Year with $400 of Supplies

question 86

Multiple Choice

A company started the year with $400 of supplies. During the year, the company purchased an additional $1,200 of supplies. There were $800 of supplies on hand at the end of the year. An adjusting entry prepared at the end of the accounting period includes a:

• A)debit to Supplies Expense for $600.
• B)debit to Supplies Expense for $800.
• C)debit to Supplies for $800.
• D)debit to Supplies for $600.

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Definitions:

Superiority

The state, quality, or condition of being superior or higher in quality, rank, or importance.

Democratic-Republic Society

An organization or society that advocates for principles of democracy and republicanism, emphasizing the importance of popular sovereignty and the rule of law.

Hartford Convention

Meeting of New England Federalists on December 15, 1814, to protest theWar of 1812; proposed seven constitutional amendments (limiting embargoes and changingrequirements for officeholding, declaration of war, and admission of new states), but the war endedbefore Congress could respond.

Democratic-Republican Society

The Democratic-Republican Society, active in the late 18th and early 19th centuries, was a political group in the United States that emphasized states' rights and advocated for a strict interpretation of the Constitution.