At the end of its fiscal year, the company had only $100 of office supplies on hand but the supplies account listed $550. What is the year end adjusting journal entry?

A. debit supplies and credit supplies expense for $100

B. debit supplies expense and credit supplies for $100

C. debit supplies and credit supplies expense for $450

D. debit supplies expense and credit supplies for $450

On April 1, Babko Company paid $1,500 for 6 months rent. What is the adjusting entry for the fiscal year ending June 30?

A. debit rent expense and credit prepaid rent for $1,000

B. debit prepaid rent and credit rent expense for $750

C. debit rent expense and credit prepaid rent for $750

D. debit prepaid rent and credit rent expense for $1,000

Which of the following accounts is not a commonly adjusted in an adjusting entry?

A. cash - adjusted to match the bank statement

B. office supplies - adjusted to record supplies used during the period

C. prepaid rent - adjusted to record rent expense

D. equipment - adjusted to record depreciation

On December 1, Babko Company paid $2,400 for 3 months rent. What is the adjusting entry for the fiscal year ending December 31?

A. debit rent expense and credit prepaid rent for $1,200
B. debit prepaid rent and credit rent expense for $1,200
C. debit rent expense and credit prepaid rent for $800
D. debit prepaid rent and credit rent expense for $2,400