A company purchased supplies during the year totaling $22,000. At the end of the year, they made an adjusting entry to record $16,000 of supplies that had been used during the year. The ending balance in the Supplies account after the adjustment was $10,000. The beginning balance in the Supplies account was:
A) $6000.
B) $4000.
C) $12,000.
D) $10,000.
Correct Answer:
Verified
Q103: On December 1, 2015, Carrie's Day Care
Q104: If adjusting entries are not prepared, which
Q105: A company purchased medical equipment for $190,000
Q106: A company has $300 in Prepaid Advertising
Q107: In lieu of using the Trial Balance
Q113: Why are adjusting entries prepared?
A)Because some accounts
Q113: Doorglam paid $91,000 for office furniture. The
Q114: A Trial Balance Worksheet lists:
A)balance sheet accounts
Q117: If a Trial Balance Worksheet is prepared,which
Q118: The adjustments columns of the Trial Balance
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents