A Company Has $800 in Beginning Supplies and $150 of Supplies

question 116

Multiple Choice

A company has $800 in beginning supplies and $150 of supplies on hand at the end of the month. The adjusting entry for this company is a debit to:

• A)Supplies of $150 and a credit of $150 to Supplies Expense.
• B)Supplies Expense of $150 and a credit of $150 to Supplies.
• C)Supplies Expense of $650 and a credit of $650 to Supplies.
• D)There is not enough information given to prepare the entry.

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Definitions:

Assassination

The act of deliberately killing a prominent or significant individual.

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A South Vietnamese politician who served as President of South Vietnam from 1955 until his assassination in 1963.

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A prolonged conflict (1955-1975) between North Vietnam, supported by its communist allies, and South Vietnam, supported by the United States and other anti-communist countries.

Women's Liberation Movement

A political movement which emerged in the late 1960s and 1970s aimed at achieving gender equality and fighting against sexism.