A company purchased office supplies on account. This will be recorded with a:
a. debit to Accounts Payable and a credit to Supplies
b. debit to Supplies and a credit to Supplies Expense
c. debit to Supplies and a credit to Accounts Payable
d. credit to Supplies and a debit to Purchases
c. debit to Supplies and a credit to Accounts Payable
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The sale of treasury stock at an amount greater than cost results in a gain to be reported on the income statement
Indicate whether the statement is true or false
In which of the following do written and spoken words carry the burden of shared meaning?
A. low-impact cultures B. high-context cultures C. low-context cultures D. high-impact cultures
Banks must retain a portion of every deposit, which must be put safely into their vault or deposited with the Fed. What is this portion, or percentage, called?
a. reserve requirement b. loanable funds c. trust fund d. demand deposits e. time deposits
The proposed deal structure should—
a. omit the possibility of selling interest in the company after a period of time. b. refer to the capital structure outlined in the pro forma financial statements. c. state clearly what the business plan writerasks of lenders and investors. d. describe the deal in terms of its benefits to the entrepreneur. e. all of the above(a-d).