What Is the Correct Adjusting Entry at 30 June, the End

question 10

Multiple Choice

What is the correct adjusting entry at 30 June, the end of the financial year, based on a Supplies account balance, before adjustment, of $5 200 and supplies inventory, on 30 June, of $2 200?

• A) DR Supplies $2 200 CR Supplies expense $2 200
• B) DR Supplies expense $2 200 CR Supplies $2 200
• C) DR Supplies expense $3 000 CR Supplies $3 000
• D) DR Supplies $3 000 CR Supplies expense $3 000

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Definitions:

Liquid Nitrogen

A colorless, odorless, extremely cold liquid used for freezing and preserving biological material, among other uses.

Cryosurgery

A medical procedure that uses extreme cold to destroy abnormal or diseased tissue.

Necrotization

The process of tissue death within the body, where cells in the body die off in a localized area due to disease, injury, or lack of blood supply.

Staple Extractor

A tool designed to remove staples from documents or other materials.