On a worksheet, the adjusted balance of the Supplies account is extended to:
A)the Income Statement Debit column.
B)the Balance Sheet Credit column.
C)the Income Statement Credit column.
D)the Balance Sheet Debit column.

Question

Quizplus · Accepted Answer

The adjusted balance of the Supplies account represents the amount of supplies that have been consumed or used during the period, and therefore should be recorded as an expense on the Income Statement. This means that the adjusted balance should be debited to the Supplies Expense account in the Income Statement section, which is located in the Balance Sheet Debit column.

On a Worksheet, the Adjusted Balance of the Supplies Account