The trial balance shows Supplies $1,350 and Supplies Expense $0. If $600 of supplies are on hand at the end of the period, the adjusting entry is:
|
a. Supplies |
600 |
|
|
Supplies Expense |
600 |
|
|
b. Supplies |
750 |
|
|
Supplies Expense |
750 |
|
|
c. Supplies Expense |
750 |
|
|
Supplies |
750 |
|
|
d. Supplies Expense |
600 |
|
|
Supplies |
600 |
8. Adjustments for prepaid expenses:
a. decrease assets and increase revenues.
b. decrease expenses and increase assets.
c. decrease assets and increase expenses.
d. decrease revenues and increase assets.