Use This Information Pertaining to the Alvino Corporation to Answer $\$ 200$

question 211

Multiple Choice

Use this information pertaining to the Alvino Corporation to answer the following question. 1. The corporation's Store Supplies account showed a beginning debit balance of $\$ 200$ and supplies purchased of $\$ 800$ . There were $\$ 300$ of supplies on hand at year end.
2. Depreciation on a building is estimated to be $\$ 5,000$ .
3. A one-year insurance policy was purchased for $\$ 2,000$ . Three months have passed since the purchase.
4. Acciued interest on a note receivable amounted to $\$ 100$ .
5. The company received a $\$ 3,600$ advance payment during the year on services to be performed. By the end of the year, one-fourth of the services had been performed.
The adjusting entry for depreciation on the building is

• A)Depreciation Expense - Building\(\quad\)\(\quad\)5,000
• Accumulated Depreciation - Building\(\quad\)\(\quad\)5,000
• B)Accumulated Depreciation - Building \(\quad 5,000\)
• Depreciation Expense - Building\(\quad\)\(\quad\)5,000
• C)Building\(\quad\)\(\quad\)5,000
• Depreciation Expense - Building\(\quad\)\(\quad\)5,000
• D)Accumulated Depreciation - Building \(\quad 5,000\)
• Building\(\quad\)\(\quad\)5,000

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