Jenning Co -Refer to the Trial Balance for Jenning Co

question 208

Multiple Choice

Jenning Co.
Jenning Co.adjusts its books each month but closes its books at the end of the year.The trial balance at July 31 before adjustments is as follows:
$\begin{array}{lr}&\text { Debit }&\text {Credit }\\\text { Cash } & \$ 12,920 \\\text { Accounts Receivable } & 9,620 \\\text { Supplies } & 1,400 \\\text { Prepaid Insurance } & 3,120 \\\text { Equipment } & 26,000\\\text { Accumulated Depreciation-Equipment } && \$ 10,400 \\\text { Unearned Service Revenue } && 6,500 \\\text { Capital Stock } && 7,190 \\\text { Retained Earnings } && 23,500\\\text { Dividends } & 1,560 \\\text { Service Revenue } &&16,510 \\\text { Wages and Salaries Expense } & 7,800 \\\text { Utilities Expense } & 380 \\\text { Rent Expense } & \underline{1,300} \\& \underline{\$ 64,100}& \underline{\$64,000} \\\end{array}$
-Refer to the trial balance for Jenning Co. On July 31,the amount of supplies on hand is $520.What amount is reported in the July income statement for supplies expense?

• A)$520
• B)$1,400
• C)$1,920
• D)$880

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