Correct answer with explanations please

22) On its unadjusted trial balance, Paley Company reported $1,800 of supplies. A physical the supply room finds that supplies on hand at the end of the year were $250. What is the neces journal entry? count of supplies in A) Supplies Supplies Expense B) Supplies Expense 1,550 1,550 Supplies Supplies Expense 250 Supplies Expense D) Supplies Expense 250 250 Supplies Use the following information to answer questions 23-30 Beta Alpha Psi decided to sell food during the Spring fling. The Spring Fling was held on March 30. The following transactions occurred during the month of March (Assume a beginning balance in cash/stockholders equity of $1,500). March 1 Purchased hot dogs, chips, & soda (inventory) on account (to be paid later) for $500 1 Rented a grill for $50 a month (to be paid later). 1 Placed advertisement in campus newspaper at cost of $25 (to be paid later). 1 Purchased a table for use at this and other events. Cost $60, which is paid immediately. Assume table has a useful life of five years and no residual or salvage value. 30 Sales (all cash) for the month totaled $1,300. Cost of goods sold totaled $450 Af 23) What is the ending balance of cash? A) $2.165 B) $2,215 C)$2,240 D) $2,740 500 Soo 24) What are total liabilities on the 3/31 Balance Sheet? ) $500 B) $450 C $575 D) $110 25) What total expenses on the 3/31 Income Statement? 1300 A) $60 B) $625 C) $1,075 D) $526 25