A company purchased $270,000 in supplies during the year. The supplies account increased by $10,000 during the year to an ending balance of $66,000. For what amount was the adjusting entry to supplies expense?
A. $280,000.
B. $240,000.
C. $260,000.
D. $300,000.
Answer: C
You might also like to view...
In recent years, the smallest amount of foreign-exchange trading has involved
a. spot transactions. b. forward transactions. c. foreign-exchange options. d. foreign-exchange swaps.
______ are places in which job applicants undergo a series of tests, interviews, and simulated experiences to determine their potential.
a. Placement centers b. Assessment centers c. Evaluation centers d. Screening centers
Companies with substantial assets must notify the FTC before consummating a merger
a. True b. False Indicate whether the statement is true or false
If your disability insurance policy is "class cancelable," then
A) the company may cancel any individual policy within the current group of insureds. B) the company may cancel only a few high risk individual policies, but not the entire class of insureds. C) the company can cancel an individual policy only if it cancels all policies written by the company. D) the company can cancel an individual policy only if it cancels an entire class of insureds. The class need not consist of all policies written by the company.