question archive The adjusting entry to account for use of supplies consists of a: Multiple Choice Skipped O debit to Supplies Expense and a credit to Supplies
The adjusting entry to account for use of supplies consists of a: Multiple Choice Skipped O debit to Supplies Expense and a credit to Supplies
Subject:AccountingPrice: Bought3
The adjusting entry to account for use of supplies consists of a: Multiple Choice Skipped O debit to Supplies Expense and a credit to Supplies. O debit to Supplies and a credit to Supplies Expense. O debit to Supplies and a credit to Accumulated Depreciation. O debit to Accumulated Depreciation and a credit to Supplies.
Which of the following accounts will appear on the post-closing trial balance? Multiple Choice Skipped O The owner's drawing account O Fees Income O The owner's capital account O Rent Expense
5 After the closing entries are posted to the ledger, each expense account will have Multiple Choice Skipped O a credit balance. O a debit balance. O either a debit or a credit balance. O none of these are correct.
Which of the following accounts would be closed? Multiple Choice Skipped O Supplies Expense O Accounts Receivable O Supplies O Accumulated Depreciation
The book value of long-term assets is reported on: Multiple Choice Skipped O the balance sheet. O the worksheet. O the income statement. O the statement of owner's equity.
The adjusting entry to account for use of prepaid insurance consists of: Multiple Choice Skipped O a debit to Insurance Expense and a credit to Cash. O a debit to Insurance Expense and a credit to Accumulated Depreciation. O a debit to Insurance Expense and a credit to Prepaid Insurance. O a debit to Prepaid Insurance and a credit to Accumulated Depreciation.
Centrum Services purchased $36,000 worth of equipment. The equipment has an estimated useful life of five years and no salvage value. Using the straight-line method, the depreciation for th Multiple Choice Skipped O $600. O $720 O $60 O $12.
