A Physical Count of Supplies on Hand at the End

question 99

Multiple Choice

A physical count of supplies on hand at the end of May for Masters, Inc. indicated $1,250 of supplies on hand. The general ledger balance before any adjustment is $2,100. What is the adjusting entry for office supplies that should be recorded on May 31?

• A) Debit Supplies Expense $1,250 and credit Supplies $2,100.
• B) Debit Prepaid Supplies $850 and credit Supplies Expense $850.
• C) Debit Supplies $1,250 and credit Cash $1,250.
• D) Debit Supplies Expense $1,250 and credit Supplies $1,250.
• E) Debit Supplies Expense $850 and credit Supplies $850.

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Definitions:

Kamikaze Pilots

Members of the Japanese military during World War II who executed suicide missions, crashing their aircraft loaded with explosives into enemy targets.

Rational Suicide

Suicide in which the individual is not insane and is aware of what he or she is doing.

Altruistic

An altruistic act is one motivated by the selfless concern for the well-being of others, without expecting any reward in return.

Suicidal Crisis

A state in which an individual is experiencing severe feelings of hopelessness or distress, increasing their risk of attempting or contemplating suicide.