Indicate the proper debit (dr.) and credit (cr.) to record these two journal entries:

Select one:

a.

b.

c.

d.

e.

Ridge Corporation had a Supplies account that showed a beginning debit balance of $250. During the year, supplies purchased totaled $700. There were $500 of supplies remaining at year- end. The adjusting entry for Supplies would include a:

Select one:

a. Credit to Supplies for $950

b. Debit to Supplies Expense for $700

c. Credit to Supplies Expense for $700

d. Debit to Supplies Expense for $450

e. Credit to Supplies Expense for $950

Which of the following accounts appears on the Income Statement?

Select one:

a. Wage Expense

b. Prepaid Expense

c. Accumulated Depreciation

d. Retained Earnings

Which of the following is an income statement item?

Select one:

a. Cash

b. Utilities Expense

c. Prepaid Expense

d. Unearned Revenue