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During Their First Year, Adrian & Associates Bought $32,000 Worth

Question 29

Multiple Choice

During their first year, Adrian & Associates bought $32,000 worth of supplies for their CPA firm. When purchased, the supplies were debited to Supplies and credited to Accounts Payable.
What adjusting entry would Adrian & Associates make if $8,000 worth of supplies were on hand at year-end?


A) During their first year, Adrian & Associates bought $32,000 worth of supplies for their CPA firm. When purchased, the supplies were debited to Supplies and credited to Accounts Payable. What adjusting entry would Adrian & Associates make if $8,000 worth of supplies were on hand at year-end? A) B) C) D)
B) During their first year, Adrian & Associates bought $32,000 worth of supplies for their CPA firm. When purchased, the supplies were debited to Supplies and credited to Accounts Payable. What adjusting entry would Adrian & Associates make if $8,000 worth of supplies were on hand at year-end? A) B) C) D)
C) During their first year, Adrian & Associates bought $32,000 worth of supplies for their CPA firm. When purchased, the supplies were debited to Supplies and credited to Accounts Payable. What adjusting entry would Adrian & Associates make if $8,000 worth of supplies were on hand at year-end? A) B) C) D)
D) During their first year, Adrian & Associates bought $32,000 worth of supplies for their CPA firm. When purchased, the supplies were debited to Supplies and credited to Accounts Payable. What adjusting entry would Adrian & Associates make if $8,000 worth of supplies were on hand at year-end? A) B) C) D)

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