The Unadjusted Trial Balance Lists Supplies with a $678 Balance

question 45

Short Answer

The unadjusted trial balance lists supplies with a $678 balance. After taking an inventory of supplies, it was found that $390 were on hand. The adjustment for supplies expense is a __________.

---

Definitions:

Financial Performance Measures

Metrics used to assess a company's financial health and operational efficiency, such as net income, return on investment, and earnings per share.

Lag Indicators

Metrics that reflect the results of actions already taken, providing insight into performance after the fact.

Lead Indicators

Early signs or measurements that can predict future performance or trends.

Non-Financial Performance Measures

Indicators used to assess aspects of an organization's operations that are not directly quantifiable in monetary terms, such as customer satisfaction or employee engagement.