The journal entry to record the purchase of supplies on account a. debits Supplies and credits Accounts

Question:

The journal entry to record the purchase of supplies on account

a. debits Supplies and credits Accounts Payable.

b. credits Supplies and debits Cash.

c. credits Supplies and debits Accounts Payable.

d. debits Supplies Expense and credits Supplies.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting International Financial Reporting Standards

ISBN: 9780273777809

1st Global Edition

Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy

See More Books

Question Posted: Jul 25, 2024 11:02 AM

See More Questions

A woman flies from Phoenix to Denver (a distance of 800 mi) at a rate 40 mph faster than on the return trip. If the total time of the trip is 9 hrs, what was her rate going to Denver, and what was...
Paul Company completed the salary and wage payroll for March 2014. The payroll provided the following details: Salaries and wages earned ...... $200,000 Employee income taxes withheld ..... 40,000...
India is the second most populous country in the world, with a population of over 1 billion people. Although the government has offered various incentives for population control, some argue that the...
1. Use the options prepayment model to calculate the yield on a $12 million, five year, fully amortized mortgage pass-through where the mortgage coupon rate is 7 percent paid annually. Market yields...
Gioia Company acquired some of the 65,000 shares of outstanding common stock (no par) of Tristezza Corporation during 2011 as a long-term investment. The annual accounting period for both companies...
What are the types of budgets, how do they work and which one is more effective?
The journal entry to record the receipt of land and a building and issuance of ordinary shares a. debits Land and credits Share Capital. b. debits Land and Building and credits Share Capital. c....
If the credit to record the purchase of supplies on account is not posted, a. expenses will be overstated. b. liabilities will be understated. c. shareholders equity will be understated. d. assets...
Refrigerant-134a enters the condenser of a steady flow Carnot refrigerator as a saturated vapor at 90 psia, and it leaves with a quality of 0.05. The heat absorption from the refrigerated space takes...
On January 1, 2023, Martineau Corp. issued a 5-year, 5% installment note payable for $118,000 to finance upgrading its current equipment. The company's year end is December 31. The repayment of...
Multiply. 2 x-x-2 3x-3 2 x+2x-3 x+1 Simplify your answer as much as possible.
Explain the processes of querying a relational database and define Big Data and explain its basic characteristics. Compare and contrast the major types of networks. - Identify the fundamentals of...
42. Explain why the inequality x - x + 1 < 0 has the empty set as the solution set.
Given the following memory status below, compute how much does it cost to compact holes together with the following compaction strategies if 1 kbyte of movement costs 50 centavos. 0. OS OS OS OS OS...
Report to the class on the achievements of George Gabriel Stokes?
The Strahler Stream Order System ranks streams based on the number of tributaries that have merged. It is a top-down system where rivers of the first order are the headwaters (aka outermost...

The journal entry to record the purchase of supplies on account a. debits Supplies and credits Accounts

Question:

Step by Step Answer:

Financial Accounting International Financial Reporting Standards

Students also viewed these Business questions