1. Which of the following shows thecorrect order of events? Unadjusted trial balance, adjusting entries, financialstatements, adjusted...
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1. Which of the following shows thecorrect order of events?
- Unadjusted trial balance, adjusting entries, financialstatements, adjusted trial balance
- Unadjusted trial balance, adjusting entries, adjusted trialbalance, financial statements
- Financial statements, unadjusted trial balance, adjustingentries, adjusted trial balance
- Financial statements, adjusted trial balance, unadjusted trialbalance, adjusting entries
2. A company's accounting records revealthat Supplies had a beginning balance of $1,000. During theaccounting period, the company purchased $500 of supplies. Aphysical count at the end of the accounting period confirmed that$1,400 of supplies were used. What will be the balance of thesupplies account on the adjusted trial balance?
- $1,500
- $100
- $1,400
- $500
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