Question
6. Barton, Inc. owns a machine which was purchased for $79,000. If the Accumulated Depreciation on the machine is $55,500, the Balance sheet shows a
6. Barton, Inc. owns a machine which was purchased for $79,000. If the Accumulated Depreciation on the machine is $55,500, the Balance sheet shows a book value for the machine of:
Multiple Choice
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$23,500
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$134,500
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$79,000
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$55,500
7.
The trial balance shows a Supplies account balance of $3,326. A year-end inventory shows $1,772 worth of supplies left at the end of the year. The correct adjusting entry is:
Multiple Choice
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debit Supplies Expense $1,772; credit Prepaid Supplies $1,772
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debit Supplies Expense $1,554; credit Supplies $1,554
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debit Supplies $1,554; credit Supplies Expense $1,554
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debit Supplies Expense $3,326; credit Supplies $3,326
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