Bob's Bakery purchased an industrial oven for $22,000 with a residual value of $6,000 and a life expectancy of 8 years. Using straight-line depreciation, the amount of the depreciation adjustment for the first year would be

A) $1,000.

B) $8,000.

C) $2,000.

D) $4,000.

2. Albert Windows Company showed supplies available during the year of $1,700. A count of the supplies on hand as of October 31 is $600. The adjusting entry for Store Supplies expense would include

A) a debit to Store Supplies Expense for $600.

B) a credit to Store Supplies Expense for $600.

C) a debit to Store Supplies for $1,100.

D) a debit to Store Supplies Expense for $1,100.

3. On March 1, Rosetti Company paid in advance $7,000 for seven months' rent. The March 31 adjusting entry for rent expense should include

A) debit Rent Expense, $2,500.

B) credit Prepaid Rent, $3,500.

C) debit Rent Expense, $2,000.

D) debit Rent Expense, $1,000.

4. If the balance of supplies asset account at the end of the period was $800 and you counted $100 on hand, the amount for the adjustment for Supplies expense would be

A) $700 credit.

B) $700 debit.

C) $100 credit.

D) $100 debit.