Question: When an adjusting entry is made for supplies used, the Supplies Expense account is increased and the ________ account is decreased. a). fees income b).

When an adjusting entry is made for supplies used, the Supplies Expense account is increased and the ________ account is decreased.

a). fees income

b). cash

c). supplies

d). accumulated depreciation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Super Markets Inc. is considering expanding into the Scottsdale, Arizona, area. You, as director of planning, must present an analysis of the proposed expansion to the operating committee of the...

Q:

Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 20Y5. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated in this chapter....

Q:

Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 20Y7 (unless otherwise indicated), are as follows:...

Q:

24. To correct this error in 20X0, you need to record just the adjusting entry that was not made because... a. an expense account is involved b. no error was made recording the note payable on July...

Q:

Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense...

Q:

help is appreciated.. i cant seem to understand. Thanks in advance! Here are the pictures of the adjusted and unadjusted trial balance in case my writing is legible 1 of 1 (1 complete) More Info Nov....

Q:

Exercise 4-19 (similar to) Better Boat Company bogan operations on November 1, 2020 The November and December transactions and the information used to prepare the adjusting entries af December 31,...

Q:

For each of the following, journalize the necessary adjusting entry: Chart of Accounts: Supplies, Prepaid Insurance, Prepaid Taxes, Accumulated Depreciation, Salaries Payable, Unearned Fees, Taxes...

Q:

19 If an expense has been incurred but not yet paid, the adjusting entry would involve, (A) a debit to an expense account Ba debit to a liability account C) a credit to an asset account a credit to a...

Q:

During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2021, you come across several items needing further consideration. Currently,...

Q:

Worksheet December 31, 2018 Unadjusted Trial Balance Adjustments Account Title Debit Credit Debit Credit Cash 11,930 11,930 5,000 800 200 Accounts Receivable Office Supplies Prepaid Rent Land 1,800...

Q:

The J. R. Ryland Computer Company is considering a plant expansion to enable the company to begin production of a new computer product. The companys president must determine whether to make the...

Q:

U sells two products: Heels and Hoos. Heels sell for $5 each and have variable costs of $3 each. Hoos sell for $10 each and have variable costs of $6 each. The sales mix is 40% Heels and 60% Hoos. If...

Q:

13. Diseases carried by recessive genes can be inherited by off spring of two carriers. Th us, since cystic fi brosis is a disease carried by recessive genes, it can be inherited by off spring of two...

Q:

Jim Shoe, chief executive officer of Jolsen International, a multinational textile conglomerate, has recently been evaluating the profitability of one of the companys subsidiaries, Pride Fashions,...

Q:

Selected data for Putin Company for 2014 and additional information on industry averages follow. Industry averages Earnings per share ..... $5.20 Price-earnings ratio ...... 9.50 Return on equity...

Q:

Raynette Ramos, owner of Ramos Rentals, uses the allowance method in accounting for uncollectible accounts. Record the following transactions in general journal form: July 9 Wrote off $6,040 owed by...

Q:

During 2014, Desny Corporation reported after-tax net income of $3,890,000. During the year, the number of shares of stock outstanding remained constant at 10,000 of $100 par, 9 percent preferred...

Q:

Astor Electronics, Inc., markets a wide variety of computer- related products throughout the United States. Astors officers decided to raise $ 1 million by selling shares of Astors common stock in an...

Q:

management is the development of a set of functional - level strateg'es that supporta company's business - level strategy and strengthen its competitive advantage. Total quality Human resource Value...

Q:

5.38 The amount of time necessary for a student of statistics to solve assignments is, on average, 15 minutes. This can be modeled as a random normal variable with a standard deviation of 2 minutes....

Q:

5.34 A furniture manufacturer has found that the time spent by workers assembling a particular table follows a normal distribution with a mean of 150 minutes and a standard deviation of 40 minutes....

Q:

5.37 It is estimated that the time that a well-known rock band, the Living Ingrates, spends on stage at its concerts follows a normal distribution with a mean of 200 minutes and a standard deviation...