On a worksheet, the adjusted balance of the Supplies Expense account is extended to:
A. the Balance Sheet Debit column.
B. the Balance Sheet Credit column.
C. the Income Statement Debit column.
D. the Income Statement Credit column.
Answer: C
You might also like to view...
From the point of view of the marketer, sales promotion provides accountability
Indicate whether the statement is true or false
Activities such as competitor analysis and market research are valuable investments of time that do not generate revenue. Which of the following components of a compensation plan is best suitable for encouraging such activities?
A) salary B) commission C) bonus D) incentive payment
Lassen Corporation issued ten-year term bonds on January 1, 2010, with a face value of $800,000 . The face interest rate is 6 percent and interest is payable semi-annually on June 30 and December 31 . The bonds were issued for $690,960 to yield an effective annual rate of 8 percent. The effective interest method of amortization is to be used. The entry to be recorded on December 31, 2010, for the
payment of interest (rounded to the nearest dollar) and the amortization of discount is: a. Bond Interest Expense 3,638 Unamortized Bond Discount 3,638 b. Bond Interest Expense 27,784 Unamortized Bond Discount 3,784 Cash 24,000 c. Bond Interest Expense 27,784 Cash 27,784 d. Bond Interest Expense 24,000 Unamortized Bond Discount 24,000
When a work sheet is complete, the adjustment columns should have
A) total credits greater than total debits if a net income was earned B) total debits greater than total credits if a net loss was incurred C) total debits greater than total credits if a net income was earned D) total debits equal total credits