A Company Purchased Supplies on Account; However, the Journal Entry

question 76

Multiple Choice

A company purchased supplies on account; however, the journal entry to record the purchase was a debit to Supplies for $200 and a credit to Cash for $200. What will the effect be on the trial balance?

• A)There will be no effect on the trial balance.
• B)Debits will be $200 more than credits.
• C)Debits will be $200 less than credits.
• D)None of the above.

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Definitions:

Imprinting

Learning to make a particular response to only one type of animal or object.

Sexual Selection

Changes in males and females, often due to male competition and female selectivity, leading to increased fitness.

Natural Selection

Mechanism of evolutionary change caused by environmental selection of organisms most fit to reproduce; results in adaptation to the environment.

Fixed-Action Pattern

A fixed-action pattern is a sequence of unlearned, innate behaviors that is triggered by a specific stimulus and is carried to completion once started.