On April 1, Spring Floral, Inc has a balance of $300 in office supplies. During April, the company buys $900 more of the office supplies. On April 30, the company counts the supplies and finds $200 of supplies remaining
The effect of the April 30 entry to adjust supplies will include a ________.
A) decrease to Cash and an increase to Supplies of $1,000
B) decrease to Cash and an increase to Accounts payable of $900
C) increase to Supplies and Supplies expense of $1,200
D) decrease to Supplies and Supplies expense of $1,000
D
You might also like to view...
What is the purpose of "key person" insurance?
A. To provide key employees with life insurance coverage. B. To provide retirement benefits to key employees. C. To give senior managers the ability to purchase shares in the business. D. To cover decreased business revenues as a result of the death or disability of a key employee.
In the ________, all elements of a market plan merge into a forecast of percent margins and marketing profitability
A) situation analysis B) performance review C) profit plan D) marketing performance plan E) adjusting marketing plan