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Delta Company started Year 2 with a $1,700 balance in its Cash account, a $700 balance in its Supplies account and a $2,400 balance in
Delta Company started Year 2 with a $1,700 balance in its Cash account, a $700 balance in its Supplies account and a $2,400 balance in its Common Stock account. During Year 2 the company experienced the following events.
- (1) Paid $1,600 cash to purchase supplies.
- (2) Physical count revealed $400 of supplies on hand at the end of Year 2.
Based on this information, which of the following show how the year end adjusting entry required to recognize supplies expense would affect Deltas account balances?
Group of answer choices
Assets | = | Liabilities | + | Stockholders Equity | ||||
Cash | + | Supplies | = | Accounts Payable | + | Common Stock | + | Retained Earnings |
1,900 | 1,900 |
Assets | = | Liabilities | + | Stockholders Equity | ||||
Cash | + | Supplies | = | Accounts Payable | + | Common Stock | + | Retained Earnings |
(1,600) | 1,600 |
Assets | = | Liabilities | + | Stockholders Equity | ||||
Cash | + | Supplies | = | Accounts Payable | + | Common Stock | + | Retained Earnings |
(1,600) | (1,600) |
Assets | = | Liabilities | + | Stockholders Equity | ||||
Cash | + | Supplies | = | Accounts Payable | + | Common Stock | + | Retained Earnings |
(1,900) | (1,900) |
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