Use This Information Pertaining to Tucson Company to Answer the Following

question 64

Multiple Choice

Use this information pertaining to Tucson Company to answer the following question. 1.The corporation's Supplies account showed a beginning debit balance of $400 and supplies purchased of $1,600.There were $600 of supplies on hand at year end.
2) Depreciation on a building is estimated to be $10,000.
3) A one-year insurance policy was purchased for $4,800.Five months have passed since the purchase.
4) Accrued interest on a note receivable amounted to $200.
5) The company received a $3,600 advance payment during the year on services to be performed.By the end of the year,one-third of the services had been performed.
The adjusting entry for Supplies is

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Definitions:

Food Chain

The series of organisms through which energy flows in an ecosystem. Each organism in the series eats or decomposes the preceding organism in the chain.

Competitive Exclusion

A principle stating that two species competing for the same limiting resources cannot coexist at constant population values.

Character Displacement

The phenomenon where differences among similar species whose distributions overlap geographically are accentuated in regions where the species co-occur, but are minimized or lost where the species' distributions do not overlap.

Primary Succession

An ecological succession that occurs on land that has not previously been inhabited by plants; no soil is present initially. See succession. Compare with secondary succession.