During the year, the business purchased $1,150 of supplies. An inventory count at the end of...
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During the year, the business purchased $1,150 of supplies. An inventory count at the end of the year revealed that $750 of supplies remained. The adjusting entry as a result of this information is: Debit Supplies Expense $750, credit Supplies $750. Debit Supplies Expense $1750, credit Supplies $1,750. Debit Supplies Expense $1150, credit Supplies $1,150. Debit Supplies Expense $750, credit Accumulated Depreciation $750. Question 19 (1 point) A business had the following balances on the day it was to remit HST to the government: HST Recoverable $2,278; HST Payable $4,728. The cheque to the government should be for: a) The cheque to the government should be for $2,450. b) The refund from the government should be $2,278. c) The refund from the government should be $2,450. d) The cheque to the government should be $4,728. During the year, the business purchased $1,150 of supplies. An inventory count at the end of the year revealed that $750 of supplies remained. The adjusting entry as a result of this information is: Debit Supplies Expense $750, credit Supplies $750. Debit Supplies Expense $1750, credit Supplies $1,750. Debit Supplies Expense $1150, credit Supplies $1,150. Debit Supplies Expense $750, credit Accumulated Depreciation $750. Question 19 (1 point) A business had the following balances on the day it was to remit HST to the government: HST Recoverable $2,278; HST Payable $4,728. The cheque to the government should be for: a) The cheque to the government should be for $2,450. b) The refund from the government should be $2,278. c) The refund from the government should be $2,450. d) The cheque to the government should be $4,728.
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Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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