Which of the Following Journal Entries Would Be Recorded If $\begin{array}{|l|r|r|}\hline \text { Accounts Payable } & 800 \\\hline \text { Office Supplies } &&800 \\\hline\end{array}$

question 193

Multiple Choice

Which of the following journal entries would be recorded if a business purchased $800 of office supplies on account?

• A) \(\begin{array}{|l|r|r|}
• \hline \text { Accounts Payable } & 800 \\
• \hline \text { Office Supplies } &&800 \\
• \hline
• \end{array}\)
• B) \(\begin{array}{|l|r|r|}
• \hline \text { Office Supplies } & 800 \\
• \hline \text { Accounts Payable } &&800 \\
• \hline
• \end{array}\)
• C) \(\begin{array}{|l|r|r|}
• \hline \text { Office Supplies } & 800 \\
• \hline \text { Cash } &&800 \\
• \hline
• \end{array}\)
• D) \(\begin{array}{|l|r|r|}
• \hline \text { Cash } & 800 \\
• \hline \text { Office Supplies } &&800 \\
• \hline
• \end{array}\)

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Definitions:

Waste Management System

A systematic approach to handling both disposal and recycling of waste materials in an environmentally friendly manner.

Liquidating Dividend

A type of dividend paid by a company to its shareholders from its capital rather than its earnings, often signaling the company is dissolving its assets.

Retained Earnings Restrictions

Limitations or constraints placed on the portion of earnings that are not distributed as dividends but kept within the company for reinvestment or other purposes.

Prior Period Adjustment

Adjustments made to the accounts to rectify errors or omissions in the financial statements of previous periods.