A Company Started the Year with $300 of Supplies

question 48

Multiple Choice

A company started the year with $300 of supplies.During the year the company purchased additional supplies costing $1,300.There were $1,100 of supplies on hand at the end of the year.An adjusted trial balance,prepared at the end of the accounting period,will show the following balance in Supplies Expense:

• A)$800.
• B)$1,100.
• C)$500.
• D)$1,300.

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Definitions:

Psychoanalyst

A therapist who uses Freudian methods of exploring the unconscious mind to treat mental and emotional disorders.

Psychological Therapy

A range of treatments for mental health disorders that involve talking to a psychologist or other mental health professional.

Sigmund Freud

Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Joseph Wolpe

A prominent psychologist known for developing systematic desensitization, a method used to treat phobias and anxiety by gradually exposing the patient to the anxiety source.