Clean Sweep,Inc

question 208

Multiple Choice

Clean Sweep,Inc.started the month of June with $800 worth of cleaning supplies.During the month,Clean Sweep purchased $300 of supplies for cash.At June 30,$200 worth of supplies was unused.How will the company report its unused supplies on June 30?

• A)$200 of unused supplies will appear as an expense on the income statement.
• B)$900 of unused supplies will appear as an expense on the income statement.
• C)$200 of unused supplies will appear as an asset on the balance sheet.
• D)$900 of unused supplies will appear as an asset on the balance sheet.

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