The "Supplies Expense" account was debited $1,240 by the Sanford Company for office supplies purchased during the first year of operations. At year-end, the office supplies on hand were counted and the cost of the on-hand items was $880. The appropriate adjusting entry would: Select one: O a. Have no effect on net income b. Increase assets by $880 c. Decrease assets by $360 d. Increase expenses by $880 e. Decrease expenses by $360 On January 2, 2021, Pod Company purchased 25% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2021, Jobs reported net income of $840,000 and distributed dividends of $640,000. The ending balance in the Investment in Jobs Company account at December 31, 2021 was $360,000 after applying the equity method. What was the purchase price Pod Company paid for its investment in Jobs, Inc.? Select one: a. $560,000 b. $410,000 O c. $760,000 O d. $310,000 e. $160,000 Blanco Company purchased 200 of the 1,000 outstanding shares of Darby Company's common stock for $450,000 on January 2, 2021. During 2021, Darby Company declared dividends of $75,000 and reported earnings for the year of $300,000. Fair market value of the stock on 12/31/21 was $450,000. If Blanco Company appropriately used the fair value method of accounting for its investment in Darby Company, its Equity Investment (Darby) account on December 31, 2021 will be Select one: a. $435,000 O b. $495,000 c. $450,000 d. $510,000 O e. $400,000